Thursday, September 18, 2008

Current Financial Crisis

It seems to me, once you strip away all of the spin, the smoke and mirrors, that the match that started all of these financial fires is the same one that has always brought about such destruction and devastation...greed. Everyone always seems to want more than they can afford and will try anything to get it. And...just like the loan sharks on the street corner who think they can make a fast buck off of theses mindless creatures...the greedy financial institutions made loans to people who never had a chance to repay. Why are we now bewildered by what has happened. People who never could repay what they borrowed have seemed to totally surprise those who so eagerly gave them money hand over fist. So what happened...those who couldn't repay, didn't...and those who gave them money were left holding the bag. However...in this case, it was not just the greedy that got hurt...it was the prudent. Those who used sound financial reasoning and only bought what they could afford must now pay to bail out the inscrutable. Is it fair...no. Is the the price we sometimes pay for capitalism, still the best economic system in history...yes. So, prudent people...ante up, you have another debt to pay.

No comments: