Predatory lending and financial ignorance caused the downfall of their economy. After going back and forth about personal responsibility and a bailout, someone said, “Let them, bankers and borrowers each, take responsibilities for their actions.”
Thereafter, lists of the defaulters, and the banks who loaned to them, were published. When the lynching began, they went to the government, but fear of their own people stayed the governing hand. It didn’t help; the bankers and the borrowers strung up the government, even as their own noose was being knotted.
The cry of the masses: Let it burn! and so it did.