I was in church last week listening to the sermon, when I heard the word conscience used. I immediately started to think about the past year and how we have all been affected financially and morally. The financial markets have lost up to 50% of their value, taking 11 trillion dollars of savings with them. Over 6 million jobs have been lost, with many major U.S. financial firms and national companies filing for bankruptcy.
We have seen the reality of what has been going on for about 25 years in this country; The proliferation of greed has grown from the building up of Corporate America for the purpose of profit rather than better products and services for the public. Oversight agencies, supposedly in place to protect the public, turned their heads to the lack of financial ethics and product integrity proliferated by banks, brokers and other investment companies.
As this process developed through the years, we all became sucked in to the madness. Extended credit, creative mortgages, and spending discretionary income like we were entitled to every new flat screen and cell phone are examples of how citizens have dramatically impacted this financial calamity.
You here we are all at fault for the financial collapse. Wait a minute, is a child responsible because they have been spoiled by us? Or is the parent? We always here that this is a democracy and a capitalistic business environment. Well guess what, when you give something to a human being, instinctively we do not like to give it back. A higher line of credit, instant approvals, easy, free, simple…we were pushed to buy products and services to keep the economy moving in a positive direction.
When it all went wrong, we were part of the problem. I submit that there needs to be some controls in place in order to preserve our quality of life. We need to back up, and become a simpler society. The only way to accomplish this feat is by the people becoming empowered to create change.
Conscience. All of us need to have one in order for our country to move forward intelligently. Our children will be depending on it.