The real cause of the financial crisis
Interviewee. David Jones.
Interviewee. Elementary school teacher.
Interviewer. Tell us your story, David.
Interviewee. Yeah well – I know a lot of people find it hard getting their head round the financial crisis but… The basic thing you have to remember is that it’s my fault. (Sighs) Sorry, this is difficult to explain… But basically it went like this. One evening in 2007, it was May I think, I went to get some money out. I wanted to buy some cigarettes and go to the movies. Anyway, just as I’m choosing, I see an option on the menu I don’t normally see – ‘Cause global financial crisis’ – right there – you know, next to all the other options like ‘take out 20 dollars’ and all that. And you know, it was late, there was nobody about, and I just thought – Why not, you know? After all, they put it there as an option. So I leant forward and yeah – I pressed it.
Interviewer. Then what happened?
Interviewee. Well, first of all, nothing. Not directly anyway. But afterwards I started to read about the subprime mortgage crisis, and Lehmann brothers, and TARP… I don’t understand any of that stuff. I mean, I understand a little bit, obviously – that people bought houses they’d never pay off, and that banks exploited that. But mainly I just have a sense that it’s my fault. And that people should know that. And I guess I should say sorry for this but you know – I’m not. Because I honestly believe that some good will come out of this. I honestly believe some good will come out of this whole thing.