Hold up. This is explanation is completely wrong. > set up a shell "company" with no assets, CDO's were assets. They were collections of mortgages. When you b

Hold up. This is explanation is completely wrong. > set up a shell "company" with no assets, CDO's were assets. They were collections of mortgages. When you bought CDOs, you were buying real slices of mortgages (at various levels of abstraction). The fraud existed because there were quantifiable differences between the value of the underlying asset and the value of the securities being offered. So I guess in that regard, the same sort of fraud is theoretically impossible for crypto because a) none of the assets have a quantifiable value anyway and b) it's okay to throw away investor's money if you properly disclose it as a risk?