Which as I've touched on is still a too simplistic and high-level assessment, although even then the fault would still at best be 50% the lender's, but it truly amazes me how quickly we forget that. I guess perhaps because we all need banks' services, but not those of complete strangers.
The entire system was corrupt. It doesn't much matter how truthful or fair or sensible individuals are if the system is broken, or whether they're borrowing money or investing money. Everyone looses.
Well, probably except for those deep inside the system, obviously. Indeed, the system got a phat bailout that we're all paying for.
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timeasmymeasure
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Date: 2011-03-23 12:49 am (UTC)The entire system was corrupt. It doesn't much matter how truthful or fair or sensible individuals are if the system is broken, or whether they're borrowing money or investing money. Everyone looses.
Well, probably except for those deep inside the system, obviously. Indeed, the system got a phat bailout that we're all paying for.