Here is an excellent programme on personal debt in Australia. Start at the top and work your way down.
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3 comments:
Oh the humanity! I couldn't watch past the first clip, nearly throwing up hearing that scroaty family whine about how the debt just happened, abdicating all personal responsibility. What did they spend it all on? I never got to live in a house that nice.
They bought seven years ago? They should be sitting on a huge windfall from the property bubble. What's that you say? They extracted every penny of it and SPENT THE LOT?
Prison's too good for child abusers like that. Fancy ruining their kids' childhoods due to such greed and fecklessness. I suppose they'll be needing a bail out.
An extremely interesting look at the failings on all sides. As anonymous said what tends to be missing is the personal responsibility, however lenders and legislators have a hand in this, as does the entire process that leads people to want today without waiting. Its all rather sad. Especially for those who lose their home.
personal responsibility verses predatory Free Enterprise Lending
hmm, I'll take the lending thanks, for $50.
There really is some place for government regulation in the finance world, it seems...
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