Financial Crisis

So, unless you've been living on another planet, everyone is well aware of the "financial crisis" that is currently upon our country and many others. Words and phrases get thrown around like "credit crunch"..."subprime loans"..."deregulation" and "government bailout" to explain the factors and possible solution to this mess. Democrats want to blame Republicans and vice versa. Its George W. Bush and the "failed economic policies of the last eight years" that has gotten us where we are. Or... maybe we'll blame the evil mortgage companies that gave the mortgages to the innocent homebuyer who didn't know any better. Really, it sounds like a lot of blaming but no owning up to it. Here's what I think.

We are to blame!

Yeah, thats exactly right. When it comes down to it, we signed our names on the bottom line of whatever mortgage we got. (I can say this out of experience!) The greed that was in our heart manifested itself because we wanted a bigger, better, newer house. "No, honey, lets get the one with a three car garage and two extra bedrooms, with a den and a living room. It'll be so great!" Don't mention the fact that you only have two people living in a house built for eight. Nevermind the fact that you can afford a $150,000 house, NOT A $400,000 one. Or maybe you can't afford one at all, but you can rent. But that doesn't look responsible and successful. Don't worry about that extra car you're g0ing to buy because you feel you need three sense you have a three car garage.

Are there problems with the system? Of course. Would a mortgage broker knowingly sell you a deal he/she knows you probably can't afford just to make a percentage of the deal? Probably. But we have seen the enemy. And he is us! Thats what I want to hear somebody say. Stop blaming everyone else and understand the real problem:

We are greedy!