>How is it that the other scenario (that the private valuation is illogical, unsustainable, and patently absurd) isn't the more obvious answer? this was never

>How is it that the other scenario (that the private valuation is illogical, unsustainable, and patently absurd) isn't the more obvious answer? this was never the question. the question was how to make money off this absurdity. Like Greece. Country was and is a mess, and should have stayed separate. But some people might be able to get out ahead by clamoring for bailouts under the guise of 'we didn't know' later, so they invest. Like student loans. Government was backing them while someone else gets the interest, so obviously someone else grants them. Like FM&FM. Government was granting preferred lending status to subsidize housing, so bad loans were issued.