As a kid I screwed up in many ways, but none of those ways excluded a central lesson good parents start teaching as soon as kids are capable of conversation: responsibility. The word always sounds reproachful and corrective to a kid, but it matters. It says you can be depended upon to do what is expected of you — and a bit more. Civilization itself depends on that.
The Responsibility Lesson comes to mind as I read this post by Candy Beauchamp. The stand-out section:
Many of you may know that Tom just got his degree from the University of Phoenix. He went there for 3 years and finished his last class in late April. He ended up with 3.67 GPA in Business Marketing. Not too shabby. We are very proud of him and have been eagerly awaiting actually receiving his degree….
Apparently, there’s a problem. From what we can piece together, Wells Fargo – as part of the bail out – sold his student loan to the Department of Education. This means they basically stopped his loan, but didn’t tell him or anyone else. This means that the school is looking at Tom wanting him to pay them, they are basically holding his degree for ransom.
This is inexcusible.
The story goes on, and the lessons Candy and Tom take from the experience are all good ones. What’s remains screwed up, and in need of deeper understanding, is the institutionalization of responsibility-shifting, with hardly any tracks left in the sand. This is what happened in with what Kevin Phillips calls the “financialization” of the economy. When you’re one shell in a giant shell game, it’s not hard to see what’s going on; but it’s easy to ignore the whole thing, because the system is all about moving problems, long after it stops being about moving opportunities. We’re still in the problem-moving stage of This Thing, this financial mess. That’s what Wells Fargo reportedly did in this case. Others too.
Responsibility isn’t about who’s to blame. It’s about who can act, and what they can do.
My optimistic take is that we’ll wake up and smell more than blame cooking. We’ll smell the need to take responsibility for the debts and assets that we’ve taken on. And not just in the financial sector.
Or so it seems to me on a Saturday in New York. Beautiful outside. See ya later.
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