In our haste to explain away the 2008 crisis, we have tended to put all the blame on bankers and regulators. This simplification, while soothing, might be just as misguided as Germans’ or Austrians’ tendency in the 1920s and 1930s to put the blame on France and Britain for their economic difficulties, or later for World War Two. Crises are the stuff of legend, but we should find other ways to cope with them.