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So which one is it? Incompetence or Malice? These ultra-smart people from MIT and Jane Street, the "elite", couldn't possibly ignore basic accounting, or the fa
by throw_m239339 4y ago
So which one is it? Incompetence or Malice? These ultra-smart people from MIT and Jane Street, the "elite", couldn't possibly ignore basic accounting, or the fact that they were operating a Ponzi scheme and defrauding both their investors and their clients. It would be like calling Enron leaders "incompetent".
- thirtyseven 4y agoThere are a wide range of other options here, including negligence and magical thinking.
- bcrosby95 4y agoWhy not both? They did some things that were clearly illegal (malice). But they lost the money because they thought they were smarter than they were (incompetence).
- anonymoushn 4y agoWell, they'd like us to think it's incompetence because in the US you aren't guilty of fraud if you are just unbelievably dumb.