The breadth and severity of the ongoing financial crisis is such that all will be affected. All people of goodwill will be seeking for ways to alleviate the attendant problems. The following thoughts are offered as ways to approach the topic.
Indeed, greed was present not just in financial markets, but also in the behaviour of borrowers – in other words, ordinary citizens – although it is doubtful that many borrowers fully understood the risks involved in their behaviour. The difficulty is that when money seems to be easy to make, there is always the temptation to do so, to throw just one more roll of dice seemingly loaded in our favour. So bank traders made that one more trade, and citizens borrowed that little bit extra for their dream home – only to discover, when the crisis came, that they were overstretched and vulnerable.Read More