A few months ago I heard a woman discussing an abortion she chose to have many years ago. She was explaining her reasons at the time and was now reevaluating those after later regretting her decision. This is a sad story but what stuck with me were the reasons she gave for her abortion. It finally clicked and I realized that I heard a similar argument from people who had supported the bank bailouts from the government! I know that sounds really random but let me explain further.
When she talked about her pregnancy she mentioned it caught her off guard. She was in college on an athletic scholarship and had one more year left to get her degree. If she had the baby it would result in her losing the scholarship and working full time. She was not willing to make that sacrifice and wanting her degree, finished college. She had worked hard and her dreams and goals were too big to be tossed aside. A few years later she met a man, got married, and became a stay-at-home mom. She talked about how her degree didn't seem worth as much anymore and she wished that she had dropped out. She realized it would have been very difficult at the time, forced her to set aside her own plans, endure social stigma.but enduring would have been worth it. She realized her mistake soon after having the abortion but was thankful to have endured everything. She is currently happily married and has a number of kids. Now the real question:how does this have to do with the bailout? Let me summarize the events in her life.
1. Compromise (sex)
2. Failure to take responsibility for her actions(abortion)
3 Regret as a result of the first two steps(loss of a child).
The most important event leading up to the housing crisis was the decision to reduce the standards set for allowing people to receive loans for homes. The argument was made in a lawsuit from ACORN that these standards were leading to discrimination. This led to a record number of loans which allowed the banks to profit off the interest. The situation worked fine until home prices dropped, then people owed more on the house than it was worth. As homes foreclosed banks inherited houses they could not sell and began running low on capital due to a lack of mortgage payments. When it got so bad they were declared "too big to fail." That is to say the the argument was if the banks had to declare bankruptcy and restructure the consequences would be too great. They avoided the consequences of making bad loans by receiving TARP money. This was 15 years after the lawsuit(the ACORN lawyer was a Harvard man from Chicago.)The future will show if any lessons were learned and how society will look back at these going ons in the future. But look at the pattern in the financial market....
1. Compromise(changed laws intended for financial safety to avoid discrimination)
2. Failure to take responsibility for actions(banks given more money)
3. Regret as a result of the first two steps (I think it will happen but time will tell)
We see patterns in our culture which are scary. But the most interesting thing is that this is not new! As a matter of fact, go back to Adam and Eve in the garden....
1. Compromise(eating the apple after God told them not to.)
2. Failure to take responsibility for actions(Adam blames Eve, reminds God He gave Eve to her.)
3. Regret as a result of the first two steps(kicked out of the garden of Eden)
I have spent a lot of time thinking about all this and have learned many things. I started out writing this to focus on abortion and step number 2 which I think is important. I believe abortion fuels irresponsibility. I believe any rights regarding abortion should focus not on the woman but the life inside her. I hate that it is not a life when the woman takes it but is when the woman dies in a car accident. I love how a mother will give up her life for her child and weep because some women can't give up 9 months. That being said while writing this 3 things have stuck out to me. I will present them in a manner which I believe is rather appropriate.
1. Compromise is always the first step leading down a bad path.
2. Failure to take responsibility for actions reveals immaturity that will lead to repeated failures.
3. The easiest way to avoid having regrets is refusing to compromise.