The stretch comes in understanding how one was supposed to know this. [fact]
Stiglitz has been known to make very insightful comments about how to judge crisis narratives, such as the observation that the crisis was not the consequence of "shocks" impinging on the system, but rather was man-made; the stretch comes in understanding how one was supposed to know this from the standard neoclassical model.
Philip Mirowski, Never Let a Serious Crisis …, loc. 763