Megan makes many excellent points in this new post. Money quote:
It is safe to say that almost everyone involved in this mess, from the borrowers to the bankers, thought that they were getting away with something–at the very least, that they had found a way to get rich without working. It is an old saw that no one can be conned unless they are willing to believe in something for nothing, and the best cons generally get the victim to believe that he is putting one over on the con man.
I don’t disagree. But I’m not sure I buy this:
So while yes, part of this story has been simple greed, a willingness to believe that we could and should massively increase consumption no matter what, I tend to take this desire as a given.
I see a simple desire to enrich oneself as a given. What I think is culturally influenced is the imperative to "massively increase consumption no matter what."
We have lived in a culture which is unwilling to say enough. When Christian churches are celebrating wealth Jesus called an absolute impediment to salvation, when the president sets an example of borrowing at insane levels with nary a word of caution, when thrift is deemed stupidity and gluttony becomes the norm, we are reminded that no institution, however robust, exists in a vacuum where human virtue and character are irrelevant.
Our freedom rests on our personal responsibility. Which is why it has become so shaky, and why the government seems posed for a massive power-grab.
The Dish 