Editor, Times-Union: It blows my mind that Americans continue to demonize our government and bankers for the state of our current economy. What blows my mind even more is that the people most responsible for it are the ones pointing the fingers.
Where are the pointing fingers when we start talking about mortgages? Millions of Americans decided to walk away from their mortgages, even though they could afford to pay for them, because the home was worth less than what they paid for it. Search for the term “strategic default”.
What about the millions of Americans who could care less about their unsecured debt? I know a few people who get calls every week from their creditors and they just ignore them because they don’t feel like, for some reason, it’s their responsibility to pay the unsecured debts they incurred. One of them even said, “Hey, they can join the list of my other creditors!” and laughed about it. Search for the term “bankruptcy”.
The problem isn’t just politicians. The problem isn’t just bankers. The problem is the entitled, irresponsible American. The even bigger problem is the demographic is growing. It’s the new “American Dream”.
