[burlesona]

I don’t think there’s a sane answer to your question.

I think the real answer to your question is “financialization” and zero interest rate policy.

Banks don’t hold loans, they make fees for issuing them and sell them off as securities. There’s so much money chasing so little return that it’s very easy to sell anything that looks “conventional” even if the market really ought to be more skeptical. Since almost everyone involved makes their money off the transaction, they have so many incentives to keep the party going, even though it sure seems like it’s unsustainable and must eventually crumble.