I have never said that banks should be guardians of any nations morals. But I can remember my old man's story of his wait for his first mortgage, and the third degree they put him through almost fifty years ago.
No, not the guardian of the nations morals, but perhaps the evaluator of an individual's ability to pay.
Hiding Greece's debt may have been profitable: but is assisting in a debatable practice not a debatable practice in itself? This may have been and exchange of profit for advice....but what quality the advice?
I wonder, is there any moral quality to lending, or even assisting folk acquiring loans? Or if not morality, then a 'soundness', a notion of good sense? If there is, then helping folk to borrow more than they can afford to pay back is, if nothing else, a collusion in folly. Of course, Greece can always pay off its debts. But it's going to make ordinary Greek folk pretty uncomfortable....and piss off Germany and France.
C'est la guerre. [Shrugs shoulders.]
It's Spain, Portugal, Italy, Ireland, then us next: though if it gets around to us, by then the world economy may well have gone phut.
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timeasmymeasure
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Date: 2010-02-16 07:39 pm (UTC)No, not the guardian of the nations morals, but perhaps the evaluator of an individual's ability to pay.
Hiding Greece's debt may have been profitable: but is assisting in a debatable practice not a debatable practice in itself? This may have been and exchange of profit for advice....but what quality the advice?
I wonder, is there any moral quality to lending, or even assisting folk acquiring loans? Or if not morality, then a 'soundness', a notion of good sense?
If there is, then helping folk to borrow more than they can afford to pay back is, if nothing else, a collusion in folly.
Of course, Greece can always pay off its debts. But it's going to make ordinary Greek folk pretty uncomfortable....and piss off Germany and France.
C'est la guerre. [Shrugs shoulders.]
It's Spain, Portugal, Italy, Ireland, then us next: though if it gets around to us, by then the world economy may well have gone phut.