auctionwatch Wrote:
Quote: "
It's good thing that we can hold some people to account here. Unfortunately the bad thing about us in the UK Jack is that the other groups that bear responsibility for the crisis will likely not have the decency to admit to themselves that they were at fault. The Government/regulators asleep at the wheel are unlikely to hold their hands up and say they were at fault; and the public gobbling the 0% interest loans and living way beyond their means will be quite happy to demonise the bankers but not admit to themselves that they bear personal responsibility. It's important to learn lessons from both the top down and the bottom up.
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Here in the sates we should be so lucky. You hit the nail on the head when you brought up the living within their means lifestyle. Quite a few Americans do not have a clue as to how to accomplish this, they only know that "hey, that's pretty cool, I think I'll buy that" only to have said items laying around collecting dust after the newness wears off or they go out and purchase a humongous SUV to haul there two SFB kids to and from soccer practice. (they could do the same in a modest four door coupe) but hey, "look at me" in my Suburban or Denali or whatever mega-vehicle flavor of the month is. And yes, the authorities here will never admit that they were playing along and allowing these same people to get credit for these items knowing all the while that these people could barely afford the payments. Our country is a huge joke in that the house of cards that was built has finally collapsed and the populace is now in utter shock that the Big Bad Wolf did his thing. How dare he? The rest of us poor schleps will also have to suffer the consequences as well. Truly a black eye on this country's part.