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Our Credit Crunch
I have put this here because it does not really apply in your politics.
Ok the Sorry Show was a media fuelled frenzy - essentially a televised flogging of some very, very, very stupid people. People who had allowed the financial boom of the time to blight their inadequately qualified minds as to what was going to happen at the other side of the good times. They apologised - does anybody feel better? I dont feel any different as much as I enjoyed watching them squirm (I am a bit sick like that).
Fact is if we are forced to publicly denounce anybody. W e are missing the whole point of what's happened. Yes they where irresponisble - in fact reckless - as operators of major financial institutions, and yes there is no getting away from the fact that they made things a lot worse than they could have been. But on the basis of that argument we all should be dragged in front of a parliamentary commitee - after all who did they lend all of each other's money to ? - 'us' (well the customers in general). Then we all went out and spent it and then went back for more.
As stated by me elsewhere, a culture of living beyond personal means has been allowed to develop and now we are all seeing the downside of that and of course human nature pre-determines the need for scapegoats.
Hindsight is a wonderful thing and yes if the clock could be turned back then I am sure they would all have done things differently. But until we look at the big picture and realise to some degree it's not one individual or institutions fault then we will all be here again in a decade or so.
I have put this here because it does not really apply in your politics.
Ok the Sorry Show was a media fuelled frenzy - essentially a televised flogging of some very, very, very stupid people. People who had allowed the financial boom of the time to blight their inadequately qualified minds as to what was going to happen at the other side of the good times. They apologised - does anybody feel better? I dont feel any different as much as I enjoyed watching them squirm (I am a bit sick like that).
Fact is if we are forced to publicly denounce anybody. W e are missing the whole point of what's happened. Yes they where irresponisble - in fact reckless - as operators of major financial institutions, and yes there is no getting away from the fact that they made things a lot worse than they could have been. But on the basis of that argument we all should be dragged in front of a parliamentary commitee - after all who did they lend all of each other's money to ? - 'us' (well the customers in general). Then we all went out and spent it and then went back for more.
As stated by me elsewhere, a culture of living beyond personal means has been allowed to develop and now we are all seeing the downside of that and of course human nature pre-determines the need for scapegoats.
Hindsight is a wonderful thing and yes if the clock could be turned back then I am sure they would all have done things differently. But until we look at the big picture and realise to some degree it's not one individual or institutions fault then we will all be here again in a decade or so.
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