Okay…so we all know we are in economic crisis at this time. For some reason the media produces stories of the “all American family” struggling with increased mortgage and credit card payments. Somehow the responsibility falls solely upon the lender.
I do not agree. These people, though their plight is unfortunate, agreed to terms that were clearly written within the loans that they took upon themselves. Now, granted, at the time these loans were agreed upon, our economy was booming. That however, does not excuse the borrower.
No one, and I repeat, No one! Held a gun to these people’s heads and forced them to charge 30,000 on a credit card. And no one forced homeowners who didn’t have the income to support a mortgage to sign on the dotted line.
My question: Where is the accountability?
This isn’t to say that I haven’t had and have not succumbed to this horrible economic downturn…believe me, my credit is entirely ruined and it is my own fault. I didn’t do what was necessary to fix the problem, in a way of savings and preparing. I am suffering the consequences and bear them wholeheartedly.
Maybe it’s just the press, trying to excuse a generation unwilling to say, “My problem, I created….” And where there is no hope or help for those in need my heart truly goes out…let us learn from this, as did our forefathers in the Great Depression…we can count on nothing but the grace of Almighty God….And let us not buy anything unless we have the money….NOT credit….
Of course I could be wrong….
