Candidly I find this story to be an interesting metaphor for the United States itself.
Rise from the ashes. Remarkable growth. Peak wealth and power. Bankruptcy. Gross negligence and incompetence. More bankruptcy. Terminal decline.

Financial bubbles tend to pop VERY quickly.
There is no financial fantasy that can last forever, whether you’re talking about unprofitable companies or governments that lose trillions of dollars.  Sooner or later you have to turn a profit. You have to generate positive cash flow. You have to balance the budget.
And as the Snapchat stock collapse shows, when the public wakes up and realizes this may not be possible, the consequences can be pretty ugly…

“By late 2014 I’d finally had enough. After so many run-ins with the bitter incompetence and bureaucratic indignity of the banking system, I decided once and for all that I would start my own bank… I was completely unprepared for the torrential sh*t storm I was about to enter.”