Personal Responsibility.

I think that the root of most of this nations problems can be linked back to one simple moral defect; a lack of personal responsibility. When we look at our nations banks, government and for the most part a large segment of the population and we can find examples of this defect. The banks blame the government for forcing them to make high risk loans, the government blames the banks for being greedy. The people who took out these loans blame the government and the politicians but they also bear responsibility. The problem is that, while experts may disagree, nothing and no one is too big to fail. Business and Government must own their mistakes just as individuals must. We must, as a nation, take responsibility for the bad as well as the good. There is never a deficit of CEOs and Politicians to take credit for what is right but the podium is conspicuously empty when it is time to take credit for failure. Success and failure are both necessary. We learn from our mistakes and failure is the surest path to remove bad business models from our economy. It is natural selection at work. We are endorsing failure by bailing out failed business models. We are allowing CEOs and politicians to abrogate their responsibility and perpetuating models that are doomed to fail again and again. These times may be unprecedented but the mistakes that have bought us to the brink of disaster are quite familiar. We have borrowed beyond our means as individuals and as a nation. It was inevitable that sooner or later this lack of responsibility would lead us to where we are now. It is time to take responsibility, time to clear the books of bad debt and failed business models. It will hurt and in the short term we will no doubt struggle. The alternative is to reward failure and irresponsibility. That can only lead to more such behaviour. You would not reward your children for acting so irresponsibly why are we rewarding those who new better to begin with.

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