How Ironic!
@flowerchilde (12529)
United States
September 30, 2008 9:24pm CST
How ironic that a business saturated in greed, that reaps in huge fees and profits and interest multiplied over and over, should go broke! There is more money and wealth in that part of society than about anywhere, yet they go broke? I think it must be a natural law that anything built on greed or any other negative trait, can only fall apart. I think the markets and even these financial companies (we are hearing of their crashing) will rally.. but crash on a large scale is bound to occur sooner or later, don't you think? Or do you think it can go on indefinitely?
1 person likes this
3 responses
@xParanoiax (6987)
• United States
1 Oct 08
Nothing can go on indefinitely. Bad behavior, especially behavior that's not built on smarter thinking-ahead logic...is bound to rebound back on those that practice it. Like I like to say; if you've gotta be bad DO IT WELL. If you half a$$ it, it's bound to come back to bite you.
The economy while ailing, naturally attempts to get rid of the toxic parts that have festered inside it. Unfortunately, this is like brain surgery committed by an untrained surgeon...with people with medical knowledge in places they could actually do something...in short supply.
While I'd -like- to have faith that it'll turn itself around quicker if left alone, the chances are fifty fifty, whether we meddle or not.
Since this is in the frugal interest section of discussions, I'd like to say that I believe that these guys were living beyond their means, living on a cloud that they trusted the powers that be wouldn't allow to naturally dissipate.
Unfortunately, the cloud's turned into a storm.
Like always, the bad apples have to ruin everything for the rest of us as well.
...I'm sure things can be done to cushion things a bit, but overall these things -should- be failing. It'll return economic power where it belongs: with the average person. I know that's souns scary to alot of people, but only we should be trusted to take care of ourselves. And non-localized factors are the very reason why this is the storm it is. It's like a hurricane after a drought. It's neither good or bad...it simply...is.
@redkathy (3374)
• United States
1 Oct 08
Well I just said to the hubby tonight, when did a bank ever bail our business out? NEVER! And let me tell you we made some dumb decisions in the beginning. So when these financial institutes made less than intelligent decisions, I don't believe we should bail them out either.
I agree with you 100% that people just don't live within their means. I was there once too and had to suffer through it. And, shame on the lenders for allowing it to happen in the name of making a buck.
I always told my kids, "If you're gonna be dumb, you better be tough."
I say let the chips fall where they may, only the strong will survive!
@xParanoiax (6987)
• United States
1 Oct 08
I'd like to add to your excellent points, that the strong -should- look after the weaker ones, but only where it morally applies and that choice should be left up to the individuals.
If nothing else in this country, we should be free.
You don't get into economics with the fear of failing. They shouldn't be so frightened to reap what they've sewn when the rest of us always have to accept the consequences for all our own business actions sooner or later.
Equality goes hand in hand with freedom. And those people who ran those banks and corporations, they're no better than us. So the same rules should apply.
I guess what it comes down to, is our core beliefs as Americans. This isn't like England centuries ago where the rich had all the power and nothing could challenge that. This is America. Where everyone's supposed to be able to succeed and where everyone's treated as equals. We may more or less succeed at this, but it's the core of us. I think it's rather crazy we're expected to make exceptions, especially when no one ever made exceptions for us.
