Pasqual, that's how people learn. Now, if it was the second time that they'd done this, THAT would be dumb!
How do you know that they didn't do everything that you said between May and December but then decided to wait before developing for the market to improve, or the bank changed their minds at the last minute, or family circumstances distracted them from pushing ahead?
Unless you know a lot more than you are letting on, you're being very judgemental.
