Sound familiar? The banks were betting on Edward crushing the French and making a ton of money off booty, ransoms and wool instead of betting on bad mortgages. Same result.
Voltaire wrote that "History never repeats itself, man always does.".
While I am quoting writers, here is a good quote from Ambrose Bierce, "History: An account, mostly false, of events, mostly unimportant, which are brought about by rules, mostly knaves, and soldiers, mostly fools"
"History teaches us that men and nations behave wisely once they have exhausted all other alternatives" Abba Eban
Our ignorance of history makes us libel our own times. People have always been like this" Gustave Flaubert
Maybe, instead of spending so much time on economics, the captains of industry should have to learn a bit of history. It might not make them behave better, but at least they will know who to point the finger at when things go wrong. (Not that they will)