This view explains a lot, but not the current financial crisis - how so many people could be so stupid, incompetent and self-destructive all at once. I can exp

This view explains a lot, but not the current financial crisis - how so many people could be so stupid, incompetent and self-destructive all at once. I can explain it. Republicans like giving businesses new ways to make money. Subprime loans allowed businesses to lend to a whole group of people they couldn't lend to before. Democrats like giving poorer people the opportunity to build wealth. VPs at banks want to move up and proposing a whole new business area gets noticed and promoted. So, you use overly optimistic calculations that show only good coming from them and lots of people jump on the bandwagon and years later you're in trouble because reality never works as cleanly as paper. No one had done it before and they didn't know what would happen. I'm sure if you took foreclosure rates from standard loans and applied them to these subprime ones, the situation looks fine. Anyway, I remember something about the road to hell being paved with good intentions. The author (in my opinion) is very right. Until people and companies feel secure in their livelihood, they won't engage in the economic activity that makes an economy truly strong.