Professor Edward Kane:

The issue is: when will the party end? A person can recognise that the party has to end badly and still feel it is not ready to end and that they can make some money. I cannot tell the committee how many people have told me they will get out and will not have losses when interest rates turn around and go up, but it does not usually work that way. It happens and they are stuck. That is not really evidence, but it is evidence that they thought the party would go on longer.