posted on Feb, 20 2009 @ 04:41 PM
Tell them the truth:
Not so long ago we never had it so good, you could borrow when you needed it, you had the chance to borrow to start a business, upgrade your home,
generally live a good life.
The people became too greedy and screwed themselves over.
With the avaliability of credit comes the responsibility to not bite off more than you can chew, just because you CAN live outside your means doesnt
mean you SHOULD, but a lot of people were living up the high life and not thinking about tomorrow, obviously under the impression that you could
borrow, then borrow to pay back what you originally borrowed, without understanding that the banks will, at some point need the money back to be able
to have anything to lend out.
While a lot of people blame the banks themselves we cannot avoid that we are all in some part responsible for the current crisis.