Soft Touch Britain

[leicsmac]

"the Bankers" is a pretty lazy term, it's kind of become the socially accepted version of blaming 9/11 on "the Muslims".

It is incredibly easy to blame bankers for the entire credit crunch but not entirely accurate. The public always get off very lightly in my eyes. Millions of people borrowed utterly irresponsible amounts of money with absolutely no security out of a false sense of entitlement to living a life beyond their means.

Yep, irresponsible borrowing takes two to tango. But the people at the banks that they asked could just have looked at the loanees financial situation and just said "No."

Edit: I went specifically into which individuals in banking I think are largely responsible above, rather than just blaming the whole thing entirely on 'the bankers', which is definitely not accurate.

[James.]

Yep, irresponsible borrowing takes two to tango. But the people at the banks that they asked could just have looked at the loanees financial situation and just said "No."

Edit: I went specifically into which individuals in banking I think are largely responsible above, rather than just blaming the whole thing entirely on 'the bankers', which is definitely not accurate.

Missed your subsequent post, cheers for pointing out and yes I largely agree with those you identify.

I would stress the point about people's greed though. Until we learn to live within our own means and take some responsibility for our own lives, understanding that there is happiness beyond a bigger house or another car and understanding the consequences of debt, we'll always be at risk of coming undone.

I would rather promote this understanding through education as opposed to further regulation or restricting financial innovation. Something is quite clearly wrong with a person's skill set (not to mention their aspirations) when they go into a mortgage lender with no money and no job and think they'll be ok borrowing hundreds of thousands of dollars to buy a house they have absolutely no chance of keeping hold of.

[leicsmac]

Missed your subsequent post, cheers for pointing out and yes I largely agree with those you identify.

I would stress the point about people's greed though. Until we learn to live within our own means and take some responsibility for our own lives, understanding that there is happiness beyond a bigger house or another car and understanding the consequences of debt, we'll always be at risk of coming undone.

I would rather promote this understanding through education as opposed to further regulation or restricting financial innovation. Something is quite clearly wrong with a person's skill set (not to mention their aspirations) when they go into a mortgage lender with no money and no job and think they'll be ok borrowing hundreds of thousands of dollars to buy a house they have absolutely no chance of keeping hold of.

Can't disagree with any of that. For me, education is the key. Financial management in this day and age should be something compulsory on any school curriculum. Which is quite sad really, considering it should be parents, not teachers, that are explaining that to their kids.

[Guest]

Edit: I went specifically into which individuals in banking I think are largely responsible above, rather than just blaming the whole thing entirely on 'the bankers', which is definitely not accurate.

I guess that depends on whether you're using cockney slang or not.

[act smiley]

I would stress the point about people's greed though. Until we learn to live within our own means and take some responsibility for our own lives, understanding that there is happiness beyond a bigger house or another car and understanding the consequences of debt, we'll always be at risk of coming undone.

Its not even just the desire for more stuff though, its this specific desire for status symbol objects at all costs - eg, to use your example of cars, I know people who don't like cars, whose current car is nice and suits them, that insist on getting a new one and they buy one that isn't even any better simply lower mileage and has a newer number on the plate. Its weird.

I mean I can understand wanting more when its an interest - I know a guy who is into his cars, and stretched his finances a bit to get a Subaru BRZ, a bit greedy perhaps but fair play to him as long as he knows the risks. Yet I also know people with less disposable income who drive cars that are almost that expensive, but don't care about cars.

That's what I don't understand.

[Rincewind]

Sometimes the the ones that have the most money are the tightest. Not just in the money manageing side. They are skinflints and count every penny. A mate who I worked with when he went out he took just what he needed including bus fare home. He passed away aged 65 in 2011. We always joked that he'd be the richest bloke in the graveyard. He gave up work at about 60 through illness. He was a big bloke did press ups every morning but just became ill and went dowbhill. He had a GF and step children but must have had a few quid in the bank. Did not do him much good.

Until last year I was pretty free with money. Not overspending but living for the day. Now I wartch every penny and keep a spreadsheet of my daily spend. I wish I didn't have to but I would be in a mess if I didn't.

[leicsmac]

That's right. Good financial management is something we should be all be practising, but at the same time money is no use to a dead man.

[Parafox]

I know people on benefits & there are people on here claiming benefits. I'm sure they will tell you that they are not living a life of luxury. They don't buy designer clothes & they don't go on holidays at all, nevermind abroad.

For example, a friend had been working for the same company for the last 20 years until he was made redundant. He is separated from his wife & children & rents a pokey flat. He doesn't have any savings & he doesn't have any qualifications. He is actively seeking employment, applying for several jobs a day. The benefits he receives - £300 a month housing benefit & his council tax paid. He also receives £71 a week JSA. That is it!! He has to pay all his bills (gas, electric,water, fuel, car insurance, mobile, food, & other bits & bobs) out of this money. He doesn't come out anymore, he doesn't buy clothes anymore, he doesn't smoke anymore........he is barely existing.

Because The Sun has printed some made-up story & because the media in general seem to suggest that everyone claiming benefits is a scrounger & living a lifestyle better than anyone in employment - something needs to be done about it. Ian Duncan Smith (c*nt) thinks he can rescue the economy by making life that much more miserable for people on benefits?

It is terrible to see my friend's life slipping away. He has paid plenty into the system & he couldn't do anymore than he is to find another job. I would suggest that his story is far more common than the individual cases the media would have us believe.

Totally 100% behind you on this. My daughter scrapes an existence living alone on JSA and it's no life of Riley. She has absolutely no spare income and regularly sits at home without any money until her next benefit payment. She is doing a part time college course and is looking for a job. I hate when stories like this come up because almost everyone takes the moral high ground and tars all claimants with the same brush.

I wonder what the Sun hoped to get out of this article.

[Rincewind]

I wonder what the Sun hoped to get out of this article.

Exactly the response they have had off here. There will be thousands of forums across Britain running similar threads.

[Parafox]

I wonder what the Sun hoped to get out of this article.

Exactly the response they have had off here. There will be thousands of forums across Britain running similar threads.

Yes. Stirring up bigotry