Fraud happens. But on a scale of 1 to 10, crypto is an 11.
There is no more blatantly direct, obvious or audacious fraud than creating money from electrons and selling it. Even wooden nickels were made from something in order to kinda, sorta look like money.
Crypto is proof of just how stupid intelligent people can be.
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Fraud happens. But on a scale of 1 to 10, crypto is an 11.
There is no more blatantly direct, obvious or audacious fraud than creating money from electrons and selling it. Even wooden nickels were made from something in order to kinda, sorta look like money.
Crypto is proof of just how stupid intelligent people can be.
CDOs were not fraud. They were legal. They were just extremely stupid and unethical, like some (but not all) crypto.
Just because its legal doesn't mean it's not a fraud --- crypto and CDOs included.
As you point out, CDOs were actually based on real assets with way more plausibility than crypto which is based on --- electrons.