It′s easy to skewer the financial and political Elites′ abuses of power, but few look at all the rot below. The fraud and embezzlement-riddled mortgage market of the previous decade included not just investment bankers but non-Elite Americans who lied about their income, debt, and other material facts in order to obtain a fraudulent mortgage.
The elephant in the room is definitely this idea that the US government (or any autonomous currency issuer) can "run out of money". The US government has an institutional arrangement whereby it can always procure funding via taxes and bond sales.
A key problem when trying to understand the evolution of cooperation has been the issue of cheaters. Individuals in a social group, whether that group is composed of bacteria, cichlids, chimpanzees, or people, often benefit when cooperating with others who reciprocate the favor.