Don’t let the thread drift into ammonia.
So, it has been suggested that it is the lenders fault for borrowing beyond their means.
It is also a problem that the vehicle to borrow beyond their means is provided by the Banks.
Discuss.
Javelin, Horse juggling.
By: Grey Area - 28th March 2011 at 22:35
Greed combined with a desire for instant gratification is the problem, on both sides.
By: duxfordhawk - 28th March 2011 at 21:49
I would also so its both sides fault, But I feel we have become so wrapped up in the “never never” and keep borrowing culture that in itself it meant nothing to be in debt.
There was no logic in banks lending people more money than they could ever pay back and for that I blame the banks, after all they should of been more responsible. However I blame us the public for lapping up every loan,credit card and store card available without thinking how the hell I pay it back.
Maybe if the banks had been better regulated this would not of happened, But then that does not leave us the public blame free.
It would be nice to think we will get back to a culture where you only spend what you have and manage debts within our means ie only have a morgage or bussiness loan etc not anything else. trouble is the genie is out of the bottle and it don’t want to go back.
By: Sky High - 28th March 2011 at 20:53
Both – obviously. It takes two to Tango.
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March 28, 2011 at 8:41 pm