"If you had a job you would realize that short term gain was the way to get promoted and/or a bigger bonus and act accordingly."
Yep you are right.....and that was part of the problem.
Management laid down that environment so that is why I do not blame the person sitting at the bank counter "selling" bad loan agreements.
"If you were in government you would realize it’s the way to win the next election."
Yep agree again. Short term political advantage is always front and foremost in the minds of pollies. Again, part of the problem.
"If you wanted to buy a house you would be aware what others were paying and have no choice but to cough up the asking price."
Yes.....but did these people have the ability to repay the loan.......many had no chance.
"If you want to win an election you hand out middle class welfare to all comers (middle class or not)."
Hmmmm not sure what you mean by "middle class welfare".
"Otherwise you would be a still sitting on the bottom wrung of the corporate ladder, living in rented accommodation or sitting on the opposition benches - as the case may be."
Yes....but again I do not blame the average staffers who were given their "driving instructions" from above. The fault was with the above managers and corporate chiefs.
"The hypocrisy gets to me. Remember 18 months ago when the financial press routinely hooked into companies for having "lazy balance sheets". Now they love nothing better than to gloat over the demise of the excessively leverage as though they played no part in it themselves."
Perhaps, but blaming the media is often a short sighted thing to do imo.
THE ABOVE IS NOT FINANCIAL ADVICE AND NOT DESIGNED TO BAIT, TROLL, FLAME, CREATE AN ARGUMENT OR OTHERWISE CAUSE OFFENCE TO ANY PERSON WHO SO-EVER IS ENTITLED TO DISAGREE WITH MY OPINION AS STATED IN THE ABOVE TEXT
