I'm saying the cause is a little more complex than shuffling from foot to foot while blaming a convenient "them".Misanthrope keeping the LR candle flickering with a FL2
... then there's the V60 XC B5
15th Oct 2008 1:01 pm
Member Since: 04 Jul 2008
Location: In A World of My Own!
BANKERS sorry to shout but....
Who shall we blame then?
Bankers knew what they were doing and what the risk was with every transaction, as did their underwriters and their regulatory authorities, just everyone was happy to turn a blind eye as long as the money was rolling in (especially polititcians)
Ultimately we are all to blame as we all want free banking, free credit cards, cheap goods, and we are in a society where we are encouraged to run up often huge debts, with the caveat that if you struggle, you can do an IVA, or go bankrupt, with little hassle and be back in the credit trap again within a couple of years!!
I was brought up to never spend what you cannot repay and never owe anybody anything.
The bad news though is that we are the ones paying for everybody elses mismanagement of either personal or corporate finances.
People seem to forget the old adage - we reap what we sow...Must stop buying shiny toys....
I'm sure it is mate but it was the top men that allowed the loans to go to higher and higher risk groups to keep their figures and bonuses up. It certainly looks like they were feathering their own nests at our expense.
I have had a run in with our banking fraternity recently and even at the office boy level, with the credit card company I WAS dealing with, they think and I quote "We can do what we like". Needless to say when I managed to find a sane person at the bank this person was proved otherwise. So although I agree we are taking a simplistic look at this serious problem there is a lot of truth in what is being said and they certainly won't be getting any sympathy from me..... OOPS !!! Not getting too serious am I Sorry
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