We have not been very sincere with ourselves. It is time to fess up to us that we are the ones to mostly blame for what has happened to the economy. Nobody was forcing us to spend money that we did not have. Nobody forced us to max our credit cards to buy needless stuff (although I will acknowledge here that some of the maxed out cards maybe due to the hardship people have endured due to the loss of their jobs). Nobody forced us to take out home equity loans and buy cars and go on vacation. Nobody forced us to take out mortgages that we could not afford to buy houses which were big enough for a small village.
Although there may be some scrupulous people who may have misled some people into buying or getting loans but you don’t have to be genius to figure out that you cannot afford on your salary. And now when the dust has started to settle, blame game has started and we are the ones who are blaming others and not looking at what we did and how we did, a sane and prudent person would not do in any circumstances. So next time, when we are spending other peoples money (that is what it is getting loans) we should use our minds and not our hearts (unless we have the capacity to reconcile both of them).