2007-2008 thinking。
Those things will keep repeating， it's just human nature and everybody tries to outsmart other people， by calculating less risks to themselves， and more to others to make a profit。 There are so many moving parts which are out of human control。 That's the reason there‘re so many surprises and mishaps in wall street。
Nevertheless, it's a great writing and analysis.
In a nutshell, we can't make trading or investment decision based on this scenarios
