They don't foolishly lend, this is a formula. They do it over and over again. They influence elections to ensure it continues. They help ensure the fixes are more taxes and regulations to ensure it only gets worse.
And the rubes? Fall for it everywhere it's tried. We are only slightly better than the Greeks because we don't ALL work for the government. Yet.
>>They do it over and over again.
Yep. It’s a cycle derived from human nature that’s been getting gamed/exploited through out history.