Letters to the Editor

Don't fret about blame; worry about no repeat

A recent analysis published by the Packet on why we are in what can only be called a serious economic recession, not to mention equally serious debt, sparked various letters

Some indicated that this individual was to blame, while others chose another. In reality, no one single person was or is to blame for our current problems. If that were true, the answer to solving them would be simple. We are all to blame by allowing personal greed and stupidity to take preference over rational sanity.

We stood by and cheered as the whole economy ballooned into unprecedented price inflation. Homes became worth twice their value in a matter of months. Lending by what should have been established institutions turned into an investment gamble that people encouraged.

Individuals could invest in stocks and shares on credit, buy second homes with credit, regardless of any controls on who was borrowing or what was being borrowed. Then, as is always the case, the whole system collapsed, and we are now paying the price.

If any blame is forthcoming, it must be directed at ourselves and the fact that we put people in charge who encouraged such situations. So, rather then blame current or past presidents, why not ensure that the same errors are not repeated in the future.

Geoff Wheatley

Hilton Head Island