Causing financial crisis wasn't illegal Risks were grossly and knowingly understated, which was against the law. People were betting with other people's money,

Causing financial crisis wasn't illegal Risks were grossly and knowingly understated, which was against the law. People were betting with other people's money, with all of the upside but very little of the downside, so it isn't surprising that the market as a whole completely twisted the risk profile, as a largely corrupt industry.