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re: bad bank lending at the root

Posted by Mairt on August 24, 2011 at 19:27:52:

In Reply to: re: bad bank lending at the root posted by NW on August 24, 2011 at 08:47:35:

If we're to agree with the point about the reckless lending effectively fuelling all our current woes, aand that being an end to it in terms of responsibility, that would seem to imply we as a people are not qualified to run our own affairs, as the EU/IMF doubtless think.

Just because someone makes you an offer thats too good to be true, does that absolve you from all responsibility when it turns out it was indeed too good to be true ?

I think we're a more intelligent country than that. We knew damn well we were on to a good thing and no one wanted to question the sustainability of it while there was some short term benefit in it for us.

So yes, the reckless lending fuelled the whole problem, yes it allowed flawed politicians who we continually elected to implement bad policies, but at the very least a large number of ordinary people stand guilty of being gullible at best, or minor conspirators at worst.

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