True ... which helps to explain what's going wrong in the mortgage markets right now.
But even were the circumstances different, I believe that spaceflight -- especially manned spaceflight -- would very often require a time horizon measured in decades. I don't think any company could realistically expect to build a viable business model on that. Any company that could do so, would have to rely on behemoth revenues from other markets to subsidize the space investment. It's difficult to imagine investors being much interested in taking a chance that their grandkids would realize a profit.