ulala wrote:There is really only 1 person to blame for the current crisis, and that unfortunately is ourselves....The banks must take part of the blame...
I know what you're saying, but as even you admit banks are also largely to blame aswell as the greedy man in the street. In my opinion it's quite right to dis-like the banks for their role in things.
Aplogies for this grim anaogy, but if a stranger lures a woman into his car to save her walking home in the rain, and subsequently rapes her, do we not blame the rapist? No matter how lazy and foolish the woman was, the rapist is still a scumbag and shouldn't allowed to keep doing what he is doing.
The banks are tempting people into debt they often can't afford and often don't even want. It's all very well saying we should be clever enough to turn them down and live within our means. But where do people think the interest on their savings come from? Their investments and pensions are tied up in the banks, they only do well if the banks do well, and the banks do well by lending at interest, and the more loans and the higher interest the better. Not only that but borrowing must continue in order to pay existing debts.
It's as though people are saying they're happy to not be in debt personally, but they're content with the practice continuing around them. Is it ok for dog owners to let their dogs crap all over the place so long we personally don't step in it? Even if we all personally stopped borrowing the government will still borrow on our behalf and burden us with debt collectively.
I'm all for personal responisibilty, and that includes taking responisiblty for our government and demanding significant monetary and banking reform from them.