Don't some say that criminals are a product of neglect by society, the outcasts (was that Batman that said that?).
Is anybody familiar with the story of the scorpion and the frog? I love the ending where the scorpion says "It’s in my nature". Kind of explains the whole story in a nutshell.
Well on a different level the Banks are also a product of society and they could simply justify their actions by saying "It’s in our nature ".
Considering the banks obvious unhealthy power in economies is it any surprise that they take advantage of what some people would consider an industry lacking in proper regulating.
Prevention is better then cure, the herd mentality mentioned by Brendan is very true, and it’s a reason why Banks have acted in the manner that they did, but still doesn’t justify the decision to let them do it.
The government are all too quick to protect Joe Public from themselves when it comes to PR friendly situations/topics like trying to reduce Alcohol or smoke abuse.
But when it comes to borrowing ridiculously large sums of money they allowed the banks to decide the criteria.
Sure why not let the tobacco or alcohol companies decide what age you can drink or let the pubs decide what time to close at?
We all helped build society into what it is today. I would love to see some people hang for some of the crimes that have been committed in the financial markets worldwide, but the truth is that its easy to have a big bad wolf to blame. Society needs to be less reactive and more proactive.
So who is to blame? The Banks, The government, the financial regulator, the public for voting these people into power?
All that said, maybe I’m just a plain old cynic that assumes the worst of anybody in power . . . .