While this story satisfies some, the moral failings of individuals are irrelevant for understanding both why the financial crisis in the United States happened and why austerity is now perceived as the only possible response, especially in Europe. However, you could have replaced all the actual bankers of 2007 with completely different individuals, and they would have behaved the same way during the meltdown: that’s what incentives do.

Mark Blyth, Austerity, loc. 73