probably greed induced in many instances. or just overconfident investors trying to jump on the band wagon, like a feeding frenzy. I've talked to several folks who happen to have the most to lose who are reflecting on those things in life most important to them (family, friends, non-possessions) as they watch their investments go up in smoke. they aren't greedy people after all. they only want what is important in the end.
I see. The numerous folks who reneged on written promises to purchase Florida condominiums simply took temporary leave of their senses and were victims of the "feeding frenzy" created by greedy developers, and the folks who don't wish to pay more taxes to bail out the folks left holding the bag are greedy and corrupt. Strange world we live in today.