It’s time Americans agree to take responsibility.
I was playing out in the yard with my daughter this afternoon when I stepped in a pile of some dog’s poop.
I lost my cool, which is unusual for me. After cleaning off my shoes and regaining control, I asked myself why I lost my temper.
Then it hit me: I’m tired of people not taking responsibility. One of my neighbors wasn’t responsible and didn’t pick up after his dog. And I paid the price. All day, I had been reading about people being rewarded for not taking responsibility for their actions and how I was going to pay the price.
Just an hour earlier I read details of Obama’s homeowner bailout plan, paid for with my money. Obama claims that it will be cheaper for law abiding, mortgage-paying citizens like myself to bailout homeowners than to deal with the repercussions of foreclosed homes. He has a point, but he doesn’t address the long term affects of the homeowner bailout. It teaches our children the wrong lesson and creates moral hazard. Next time there’s a housing bubble and everyone’s buying more house than they can afford, you may as well jump in. The government will bail you out, anyway.
A couple weeks ago I talked to a real estate agent who told me how tough it has been lately. He bought three investment houses at the peak of the bubble and is losing $500 a month on each house. He explained to me (without me asking) that his credit and reputation were important, so he was still paying the mortgages. It was as if he felt like he needed to make an excuse for being responsible instead of just dumping the houses on the bank. He’s probably had to answer questions from friends about why he cuts back on spending to keep current on his mortgages. “Why don’t you just drop the keys off at the bank?” He is taking responsibility for his own decisions, but that’s not in style right now.
It’s time to take responsibility. It’s time for Barney Frank to take responsibility. Maybe he can admit that encouraging people who can’t afford homes to buy them is not a good idea. It’s time for GM to take responsibility. It’s time for you and me to take responsibility. If we made a mistake, we must understand that we’ll pay for it. Even if it means paying off a home that’s now worth less than we paid for it.
I’m pained to lose 35% of my stock portfolio in a year. I’m pained to see my income go down. But that’s what happens in a recession. I have no doubt this will be a long and painful recession. Yet I’m prepared for it. I’ve done my best not to overextend myself. The last thing I want is for the government to halt the recession before we have a chance to weed out the bad businesses and over extended credit. That will only prolong the inevitable.
Ramiro says
I agree. It will only get worse and we will all pay. I expect banks to be nationalized in the near future.
M. Menius says
Andrew – You just described the frustration of so many people. Hard-working, dedicated people (many retirees) who have suffered terrible losses at no fault of their own.
Yes, the responsible and accountable are fewer than ever. As a society, there are way too many messages encouraging immediate gratification and personal irresponsibility.
One’s reputation used to be everything. Honor, and conducting oneself in a way that would make your parents proud. 40% of teenagers today tell their parents to “F” off. Not in my home. This is why I place such high value on hard work, accomplishment, and anyone who makes a point to be respectful and supportive of their fellow man, or woman. It renews one’s faith in humanity.
P.S. In your post, glad you blamed the owner and not the dog. 😉
Lonnie says
Andrew
Very well said
Lonnie
RegFeeNames.com says
This is why the world is screwed just now – We live in a blame culture and nobody takes responsibility for there actions.
We all just blame others or someone else – I lost my home becuase the banks screwed up!
No – You lost your home because you borrowed five times your salary and took 125% mortgage because you wanted to look rich and have a nice lifestyle!
Wake people take control of your own lifes!
If you do this then you shall succeed!
Regards,
Robbie
Rick says
Let me quote Obama from his speech yesterday announcing the mortgate bailout plan:
“The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly”
Hey, I played by the rules. I got up and went to work each day and paid my taxes. And I paid my mortgate on time each month. I acted responsibly. So am I going to benefit from this? NO! This is only to help those who acted irresponsibly and bought more house than they could afford.
It really pains me to say but I think Obama and the Democrats are going to destroy our country.
sip says
Andrew,
Couldn’t have said it better myself. Dragging this thing on is only going to make it much more painful later.
Markets crash for a reason, to correct themselves.
sip
DvB says
Absolutely. Nailed it. Amen.
Thank you.
jp says
Andrew,
Accountability has always been one of my favorite words. Too bad it seems someone may have deleted that word from the American Dictionary, or confused the definition.
Don’t worry we will only be accountable for these other people’s actions for so much longer. I think that this stimulus plan is perhaps just the overdose this country needs to put it out of its misery and finally get some real change, it just may not be the change that the voters thought they’d get.
Smart guys like you will come out just fine I think.
If you havn’t checked it out yet, you should really check out two of the domains/blogs I run. AmericanHistory.org and WorldHistory.org. I think there are some pertinent posts on there to this one. And people, remember I didn’t write the posts so don’t blame me for everything you read. I just find it interesting.