The only really "dishonest" part involves people "lying to themselves" or refusing to cut the losses when all evidence points to it. All of the anecdotes are basically the same: "business in dire straits, we just need short-term financing to weather the short-term crisis". The people are "lying to themselves" by not making a more honest assessment of the situation. It's easy to read a situation and make a rational judgment when you aren't a participant, but a lot more difficult when it's your business