Freethinkeruk’s Weblog

UK Political weblog

Who’s To Blame

The system under which we live, Capitalism, may not be at all desirable for many of us but it is the system at present and so there is no alternative but to deal with the problems as they arise. The Government has, I believe, acted responsibly and decisively over the past few weeks in dealing with this financial crisis and was faced with little room for manouver.

The bankers and dealers and short term profit makers have rightly come in for huge critisism and public condemnation. However, we should not apportion all the blame to them. People taking out mortgages bigger than they could realistically pay are to blame, people who self certified over inflated salary’s to get a mortgage are to blame, people who took out multiple credit cards and ran up debts they couldn’t in the end pay, are to blame, people using the expected future equity in their homes to buy another home to rent out, are to blame. Spending bonus’s on luxury items and exotic holidays instead of putting it by for the rainy day that just had to come sometime, are to blame.

In short, you, me and most of us, are to blame and we should remember that, not just now but in the future when this crisis is finally over.

Advertisements

Single Post Navigation

One thought on “Who’s To Blame

  1. It now looks like the World’s central banks have finally woken up to the fact that this could actually be a ‘crisis’

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: