I happen to agree with Cosbaba. The buck has to stop with the Manager because:
If the players are at fault, who picks tehse players? The Manager.
If the players aren't giving 100% whose job is it to motivate these players? The Manager.
If a player clearly isn't good enough or working hard enough, the Manager can choose to get rid of him, or put him in the reserves to buck his ideas up.
In terms of Eriksson and England, yes the players are spoilt brats who believed their own hype. But, why after 4 years could Eriksson still not get them to fall into line and work as a team? If Lampard and co were performing, drop them for a couple of matches to teach them a lesson. But he never did.
Players are held accountable on the pitch by fans, i.e. when they are jeered for a poor performance. At the end of the day, the Manager has to be held accountable for consistently poor performances because he's failing to make some much needed changes, either to the personnel, tactics, or training methods.