A critique. With a lot of ignorant (and often ad hominem) comments in the comments section.
Greed and overspending are not the only routes to personal bankruptcy. Individuals may have used their own assets to start a business (risk) which may have subsequently gone awry in these difficult times, leading to the said state of insolvency. Im not in the same shoes as the bankrupts and other ‘careless’ borrowers, but following the herd and criticizing at every given chance if equally as bad.
It is a tad simplistic to equate most cases to overspending when the picture is not necessarily so black and white. Risk-taking of the nature outlined above is what may help us out of this dilemma, particularly in ventures that cater for concrete, substantial and diversified products, not temporal items like clothes and seasonal services.
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