Just to set the stage...I work for one of the big banks. One that has been in the news a lot lately. Now all this is just my opinion, but Americans as a whole are responsible for where we are. Lets all take a big breath and a few steps back to think about this whole thing rationally for a minute.
The founding fathers of our country envisioned a place where everyone had an equal opportunity to succeed because they were escaping from countries ruled by monarchs and royalty. Over time, we have evolved so that their definition of everyone now includes women, blacks, Hispanics, Asians, etc. It is natural that some people will get lucky in life and that others are just born with the ability to be great leaders, inventors, and entrepreneurs. Somewhere along the way, people in our nation began seeing our country as the haves and the have nots (just like our forefathers did in Europe). No, its not exactly royalty, but everyone knows those who have great wealth tend to also have great power in this country. And can thus, they can influence the laws of the land to be setup to their advantage. However, because of how our country was built...there are also those who started with humble beginnings that have a heart for those without. So, over time through the use of charities, taxes, etc. we have established ways to redistribute some wealth to those without it. All with the idea that all these people need is a chance to succeed. Yes, it all still sounds like a good plan with good intentions and still falls in line with things our forefathers would have wanted. However, some changes have occurred in all this.
First, somehow the core idea America of everyone having an equal opportunity to succeed changed to be that everyone has the right to succeed.Sounds similar, but its not the same. Think about this rationally. Does our freedom really mean that everyone has the right too a good job, own a house, retire? I say no.
Second, does our freedom truly mean that we as a people have the right to take from those who have more because we feel that everyone should have more? I'll admit, at first glance, it does sound like a good idea. But at what point do you and I go from being the ones who receive the distributions to the one who funds the distributions. I will say, that I do believe that our country should provide a way to take care of the orphans, the disabled, etc. But how many times have you seen someone on "disability" out playing basketball or someone with a handicap sticker that was obviously not a picture of what you and I envision as handicapped.
So, what does this have to do with the big banks and/or our economy? I would say that WE as Americans caused the problems. In our country's attempt to force society to be equal we forced the banks to lend to those they should not have. We forced the factories and businesses to pay more for wages than they should have. We force the insurance companies to pay for more they they should have. I'll admit, that what sent us over the edge was probably a small number of greedy people trying to find a way to the top of the money tree. However, the real core to the problems we are not even trying to fix. Do we really want our government to force lending to continue or to force the banks to eat the bad loans? Or worse, allow the government (e.g. you and I) to save people from their mistakes? I do not think the government should allow banks to fail to prove a point. To truly fix things. Everyone needs to take a pay cut. Everyone needs to realize that their house, car and 401k is not worth what they thought or hoped. Everyone needs to realize that success is hard and must be earned. Everyone needs to be willing to agree that help from the government may require something in return.
Frustrating isn't it?!?! And how hard it is to realize that we are ALL at fault in this.
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