One of the underpinnings of our current economic crisis was banks loaning money to mortgage-seekers who were not truly qualified to assume the level of debt they sought. Nevertheless, lenders made the loans, predictably borrowers defaulted, and eventually the house of cards collapsed. The government rode to the rescue with TARP, bailouts, handouts, etc. Critical examinations determined the loans were a bad thing to begin with (Duh).
So, having lived through that crisis and identified some of the causes, our government has identified a group of poor-risk loan seekers (read Italy, Greece, etc.) and has swooped to the rescue by making suspect loans/loan guarantees. At least we will recognize the early signs of collapse, having just been through it on a national level.
Ordinarily, when one says, "learn from history," one means that the events should not be repeated. In our case we appear to have simply extrapolated the lesson to the international stage where we will well and truly get our fiscal tit caught in a major wringer as some point in the near future.