Quote Originally Posted by Westsidex View Post
the ppl that knew and had an idea about it and did nothing are just as guilty.Same with the bankers.the ppl that knew and did nothing are just as guilty if not moreso.

Westside.
I would 100% blame the regulators because the simple fact is that if there are no sanctions and
penalties people wont stay within the rules,what do people expect,every single one of us would do the same thing push things to the limit. It is only fear of consequence makes people sit up take notice
Ill give u an example we have a speed lmit lets just say all sanction was lifted for speeding, no fines
no penalty points but the limit remained in place, how many people would then obey it? Dont fool
urself people.What happened here was we let it be known from the top on the qt that in order to
get the buisness funnelling through here we would have lax regulation, a nod and a wink job
nothing said but everything understood.What did they expect only that full advantage be taken
of the situation. Just remember that the guy who hires the assasian is as culpable if not more so
than the assasian himself.The thing is we would have a much different country if this never happened because growth would have remained slow so i think in reality as many people wouldnt
have lost there jobs but neither would more than a fraction have been created so u probably
have more people with jobs today despite all the job loses still ,
than if we hadnt the boom
For me the greatest crime is that we raised peoples expectations to unrealistic and unsustainable
levels. The money people were earning couldnt last and we now have the problem that people
have had a taste of this lifestyle and will find it hard to readjust. We came too far too fast it had
to be false how else could u explain the explosion of luxury in just one generation holidays
fancy cars,fancy clothes,houses with every convenience ,why were we suddenly entitled to
this more so than our parents before us,what did we do differently to earn all this.The answer
nothing.Now alot of people just splurged and lived beyond their means and have to take responsibility for that.I know its tempting when the cash is avaliable easily but noone put
a gun to anyones head.I know many parernts that pleaded with their kids to save up a good
deposit and not go down the 100% route,but they only laughed at them and ignored them.
We devoloped a culture where we dont want to work towards and wait for anything, if we cant
have it today its no use,it must be instant gratification.But now we are paying a heavy price
We had devoloped into people that could decide thusday that we would go abroad for the
weekend and fri we were gone,10 years previously if we wanted that holiday we saved and
planned for it for a year.The difference though before we apppreciated it talked about it until
we had saved for another one and really valued our break cause it was a treat. Now its so
run of the mill we go cause we feel a sense of entitlement , probably have forgotten about it
by following tuesday so we dont really get the same value from the experience
I persoally think there is a period of sharp readjustment ahead