Thursday, March 19, 2009

Not My Fault

It's not my fault, I swear! It's Wall Street's fault. And Bush's. And the predatory lenders. And the SEC. And AIG. And my financial advisor. It's all THEIR fault!

Right.

Wall Street. Were the lot of them doing anything illegal? Sure there were anomalies like Madoff, but zillions of transactions, many highly speculative, were occurring every week entirely within the bounds of both law and common practice. The execs making the million dollar performance bonuses were entitled to every penny. The house of cards was constructed and operated per the design.

Bush's fault. One question: who controlled Congress for most of those years?

Predatory lenders: Do you mean the one's with a nine pressed into your brain stem making you believe 1 + 1 = 3?

The SEC. Galbraith nailed it when he said economic forecasting was invented to make astrology look respectable. Regulate the future? That's like trying to regulate gravity.

AIG: AIG was running a shell game that became transparent. They should have been allowed to fail and with it some portion of the worlds banking system. That's called economic Darwinism. Other's know it as capitalism and the free market.

Your financial advisor: At what point while you were plugging money into the 401K slot machine did you not think there was risk? Once again, returns on mason-jar securities far outpaced your diversified portfolio.

You want blame?

How about that guy who borrowed more than he could realistically manage. You know, the guy with all that credit card debt, a 3rd mortgage and living waaaaaaay beyond his means. Think he bears any responsibility? Maybe just a teeney-weensy bit? Now multiply just-a-little by 150 million.

And how about his neighbor, the factory worker. The guy who just can't seem to square his trade-deficit-layoff anger with his union-just-clear-the-bar m.o. Multiply by 60 million.

How 'bout Billy's parents. The one's who believe it's the job of the government to educate and motivate their couch-ridden, plasma-nipple addicted, Ritalin-raped kid. Multiply by 80 million.

How about the fat lady eating herself to death. But not before her gluttony dinged the taxpayer and policy holder a couple hundred thousand clams. Multiply by 100 million.

How about the 'entitled' class. 'Owed' and absolved of their trespasses because they are 'victims'. Multiply by 25 million.

How about those who choose snake-oil over discipline, immediate gratification over intellectual investment. Who find their reality and heroes in the 200,000 violent acts they view on the TV before age 18. Multiply by 35 million.

How about the collective insecure who feel the need to validate their existence or best their neighbor with more raz ma taz. Multiply by 150 million.

Not your fault. Nuh-uhh.

In Sartre's short story 'The Wall', the condemned prisoner is made an offer by his captors: Reveal the location of your comrades and we will spare you. A tough choice: defend the great cause and die or betray your comrades and live. After much internal debate, he chooses to give the authorities a phony story, knowing it will guarantee his execution. But alas, his comrades have moved to the very 'phony' location he reveals. They are ambushed and killed. The prisoner is spared.

Still not your fault?

Try this: It was YOU and YOU ALONE who caused the crash. YOU are solely responsible for derivatives gone bad, massive real estate deflation, 15% unemployment and the fact my kids are hungry. Absurd you say, 'I had nothing to do with it.' Really? Voltaire reminds us there are an infinite number of possible worlds accounting for at least one scenario whereby YOU and YOU ALONE preempted the crash through your acute perception, decisive action, cunning and powers of persuasion. A scenario you didn't chose obviously. And who is responsible for that choice? One guess.

Now imagine a culture with this attitude. An attitude whereby each individual took full responsibility for any and every other action / event in world.

That car crash in Argentina a few moments ago that killed a family of 4. My fault.

Political parties. My fault.

Nuclear weapons. My fault.

HIV. My fault.

Greed. My fault.

Your guilt. My fault.

Your weight problem. My fault.

Gravity...well maybe not my fault.

Do you think a society that took such responsibility could ever blame anyone other than themselves? And what would such a society look like? Hint: Not what we see today.

Not my fault the bubble, despite all my huffing and puffing. Not my fault the burst, despite my pin pricks. Not my fault it's not my fault...

1 comment:

Adrienne said...

What is this obession with blame? Am I somehow absolved if I do feel guilty? Does that make me innocent? Nuh uh
Yes, it is true, my mortgage holder and my retirement fund administrators were playing the high risk/non traditional side markets without my permission or knowledge (these are the markets that failed, afterall, not the traditional stock market) so will Obama's proposed intensive web of regulations on the previously unregulated multi billion dollar derivatives and hedge fund markets help prevent this from happening again in the future? If so, then I am part of the solution because I voted for the bold President who is trying to reign back these out of control market forces.