None can escape the continuous tooting of the financial mess we are in. Everyone is affected; ordinary citizens, debtors and creditors. Who stands to lose more in the end is a tough call. It is plain logic; bigger the amount owed, the lender loses more sleep than the borrower. The former is promised repayment while the debtor can plead hard luck, say sorry, and wash off his hands! There is inherent risk in lending and it has been an endless story from time immemorial!
Financial crisis is only a symptom of a wider malaise afflicting our society. The root cause is lack of moral uprightness and reckless lifestyles without planning for a secure future based on principles of cooperation and empathy. How else to justify borrowing beyond repayment ability, endangering the welfare of future generations; in fact, bankrupting them by consigning them to lives less prosperous than we found ourselves in. We are guilty, many times over!
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