9 ms·

You know, unless you're Wall Street.

by animex 9y ago

teekert 9y ago
Recommended watching: http://www.imdb.com/title/tt1596363/ http://www.imdb.com/title/tt1596363/
- marban 9y ago
  ..."People want an authority to tell them how to value things, but they choose this authority not based on facts or results. They choose it because it feels authoritative and familiar."
  - teekert 9y ago
    animex comment is so true by the way that it is insanely ridiculous. Anything that is said about ICO can be directly applied to Synthetic CDOs that do not contain what is claimed. How many people went to jail for selling those fraudulent products? By this logic we should be using tax payers money to compensate people who suffered losses in ICOs. And we should also use tax payers money to pay the bonuses of the ICO leading CEOs afterwards. How can this be: https://www.wsj.com/articles/in-a-blast-from-a-financial-crisis-past-synthetic-cdos-are-back-1503912601 https://www.wsj.com/articles/in-a-blast-from-a-financial-cri...
    - soundwave106 9y ago
      The main difference here is that Wall Street does have more well regulated segments, such as your traditional investments like stocks and bonds. I think disclosure of the nature of investment is a key here. Even more risky areas (options and whatnot) can be approached at with at least some degree of analysis -- you are investing in companies of whom are required to maintain a series of statistics that can help you determine value. Fraud still happens even in this space, but it's not a huge moonshot like an ICO would be in the best of circumstances (let alone the completely fraudulent make-money-fast type ICO scams.) My thought on the CDO crisis and the somewhat nonchalant reaction from regulators, is that this was a sign that Wall Street needed more regulation in certain areas, their howls of protest on regulations that did appear post-2008 (eg Dodd-Frank) notwithstanding. It is worth noting that in the Savings and Loans scandal 20ish years earlier, people were jailed for selling fraudulent investment vehicles. The reaction to the CDO driven crisis in contrast was very weak IMHO.
  - 0xfeba 9y ago
    Sounds a lot like how many people support the current POTUS.
- philfrasty 9y ago
  Recommended watching: https://en.wikipedia.org/wiki/Enron:_The_Smartest_Guys_in_the_Room https://en.wikipedia.org/wiki/Enron:_The_Smartest_Guys_in_th...

You know, unless you're Wall Street.

by animex 9y ago

You know, unless you're Wall Street.

teekert 9y ago

Recommended watching: http://www.imdb.com/title/tt1596363/ http://www.imdb.com/title/tt1596363/

marban 9y ago
..."People want an authority to tell them how to value things, but they choose this authority not based on facts or results. They choose it because it feels authoritative and familiar."
- teekert 9y ago
  animex comment is so true by the way that it is insanely ridiculous. Anything that is said about ICO can be directly applied to Synthetic CDOs that do not contain what is claimed. How many people went to jail for selling those fraudulent products? By this logic we should be using tax payers money to compensate people who suffered losses in ICOs. And we should also use tax payers money to pay the bonuses of the ICO leading CEOs afterwards. How can this be: https://www.wsj.com/articles/in-a-blast-from-a-financial-crisis-past-synthetic-cdos-are-back-1503912601 https://www.wsj.com/articles/in-a-blast-from-a-financial-cri...
  - soundwave106 9y ago
    The main difference here is that Wall Street does have more well regulated segments, such as your traditional investments like stocks and bonds. I think disclosure of the nature of investment is a key here. Even more risky areas (options and whatnot) can be approached at with at least some degree of analysis -- you are investing in companies of whom are required to maintain a series of statistics that can help you determine value. Fraud still happens even in this space, but it's not a huge moonshot like an ICO would be in the best of circumstances (let alone the completely fraudulent make-money-fast type ICO scams.) My thought on the CDO crisis and the somewhat nonchalant reaction from regulators, is that this was a sign that Wall Street needed more regulation in certain areas, their howls of protest on regulations that did appear post-2008 (eg Dodd-Frank) notwithstanding. It is worth noting that in the Savings and Loans scandal 20ish years earlier, people were jailed for selling fraudulent investment vehicles. The reaction to the CDO driven crisis in contrast was very weak IMHO.
- 0xfeba 9y ago
  Sounds a lot like how many people support the current POTUS.
philfrasty 9y ago
Recommended watching: https://en.wikipedia.org/wiki/Enron:_The_Smartest_Guys_in_the_Room https://en.wikipedia.org/wiki/Enron:_The_Smartest_Guys_in_th...