I watch Americans scramble to make a better life for themselves and their families, they buy the big houses own the fancy cars have designer clothing all in all have what every one else has, and then there is this thing called debt. For some wierd reason people buy things on credit, with high intrest rates in order to look good in front of their friends and family; and forget that bill must be paid, this is not an option. Then when they have reached rock bottom they need help to get themselves out of the prediciment in which they put themselves. They want to blame everyone but themselves. WHY CAN'T PEOPLE TAKE RESPONSIBILTY OF THEIR OWN FAILURES?

I agree with you except, speaking from the American point of view (and it isn't only Americans that make mistakes), sometime there is more than meets the eye. I know this from personal experience. Credit card companies in America seem to try to make you fail. I know this isn't actually the case but it seems like it. I had a card for years. I never missed a payment and was never late and always paid more than the minimum payment. One day they raised my interest rate for no reason to 29.99% which made my payment increase 300 a month and less was going to principal. I called and asked for relief but was told no. I was told to pay for a couple of months and it would go back to the way it was. I paid it for 6 months and it never changed. They are corrupt. It is my fault for getting into debt with them but falling behind is not always the consumer's fault.

I agree with the corrupt companies doing disloyal things look at Fannie Mae and Freddie Mac they made billions of dollars of profits off the consumer s when the housing market was great and 1 yr after the collapse the Gov't is bailing them out they are 12 billion in losses in 1 yr. as a major Corporation they should have had planned for a bear market in the housing industry whatever goes up eventually must come down. They were only thinking near term and not long term. They blame the Gov't and not themselves for mismanaging thier own company.

Corporate mismanagement ain't something new, but that governments bail sick companies out is something like a virus that has spread in the recent past.
To fuel their wildfires, the US Creditcardgiants are now oogling the developing world. Crazy fact is, that average income for a qualified factory worker is 200 $ a month in Thailand, Malaysia or elsewhere in the region. Minimum required income to qualify for a plastic is 5000 Baht/mth. which relates to 150 $. A lot of middle class people are already up to their necks in debt for car purchases or real estate, another collapse like the one at the end of the 90's is lingering asiawide and might drag europe and america along this time. Defaulting banks are a big alarm signal and there were already a few. If a major economy like Japan or Korea goes down the drain, that would create a domino effect throughout the major part of Asia.

Governments should act swiftly and toss rotten apples out instead of letting the foul odor spread in the whole basket, that's my 2 cents to this - no mercy for mismanaged companies, full responsibility for mistakes, fraud and error by corporate headhonchos.