On the flip side, too much of the lending was taking on risk that shouldn't be taken. Not hard to argue that a large part of the reason there is so much lendin

On the flip side, too much of the lending was taking on risk that shouldn't be taken. Not hard to argue that a large part of the reason there is so much lending here is regulatory capture that makes it hard to discharge these debts. Which... quite frankly, feels very non-US.