Who is responsible for the financial mess the world is in today
By ketybhagat
@ketybhagat (4123)
India
October 14, 2008 1:08am CST
Who is responsible for this mess. Can we lay the blame on politicians alone or are we also in some way respsible for this crisis. The politicians have made thier money and are sitting pretty. its only the public who are suffering this. what is your opinion.
1 person likes this
4 responses
@ClarusVisum (2163)
• United States
14 Oct 08
One word:
Deregulation.
When corporations have no rules, they will rob the 'little guy'. These events have proven that.
2 people like this
@ketybhagat (4123)
• India
21 Oct 08
Yes, its a sad world where each one only thinks of oneself and his own interest.
@GraceWull (35)
• China
14 Oct 08
The politicians should be responsible for that. The crisis happens not occasionally. They should notice every delicated changes in Finance. But they did not. Actually, we vote them, we pay them, but they let us suffer .
1 person likes this
@ketybhagat (4123)
• India
14 Oct 08
Well said grace, but then we hope somebody will be better than the previous and we vote for them. Its the same old story. Politicians fill up thier coiffers whereas the public suffer. Where oh where is our saviour ?
@Taskr36 (13963)
• United States
14 Oct 08
Well no politician will ever say this, but the people that are MOST responsible are the people who took out loans that they couldn't pay back. These banks don't want to foreclose on homes. That's what they do when they've given up on ever getting the money from those they loaned it to. The problem now is that we live in this society where nobody believes in personal responsibility anymore. They all want to blame big business and of course, blame Bush. Nobody wants to admit they CHOSE to live beyond their means and screwed up.
I could blame Wall Street, Barnie Frank, and a whole slew of politicians and CEOs who contributed, but I still think the people who lacked fiscal responsibility were at the root of the problem. Nobody forced them to take out loans.
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