Essay Question: Explain the connection

I think there's a direct connection between perfidy at the top [via] and despair at the bottom.

Discuss.

Extra Credit:

"When we look at the figures for nonperforming and troubled loans, they amount to nearly half of China's gross domestic product."

Discuss. Compare with

"There are two rules of behavior in any credit system: Rule #1 is the rule all participants want all other participants to follow: DON’T PANIC! Rule #2 is the rule each participant must be careful to follow herself: PANIC FIRST!"