How does an economics framework, specifically scarcity and rational decision mak

How does an economics framework, specifically scarcity and rational decision making, help us understand the 2008 Great Recession? How does a purely economic frame limit our understanding of what went wrong?  
Do you agree or disagree with Thomas Piketty that governments should intervene with monetary and fiscal policies through short term stimulus and long term wealth tax?
For both questions, refer to concepts presented in the textbook or lecture to help discuss an economic framework. Be sure cite appropriately. Citations are always found under the main module overview page for this module.
Important instructions below
Make sure to read: Predatory Lending, Wealth Inequality, and the Great Recession of 2008.pdf watch this Daily Show interview: https://www.youtube.com/watch?v=XtahuPcsNVM before posting on the GBD.
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Reading material file attached below 

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