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I was referring to the hubris that is presumably required to even attempt a fraud on this scale. Were the uniquely able to get away with this because of their b
by gnicholas 4y ago
I was referring to the hubris that is presumably required to even attempt a fraud on this scale. Were the uniquely able to get away with this because of their bona fides, or were they uniquely predisposed to attempt this, due to the circumstances of their upbringing?
- hammock 4y agoI'm sure plenty of "non-elite" people have the hubris. Just not the access to capital
- EMM_386 4y agoThey did both get hired by Jane Street, which is not so easy to do to. So they did have the "smarts", it just depends on if this started out as, or became, a massive fraud.
- KMag 4y agoJust a wild guess, but my guess is that they intended to run everything legitimately, but bought into their own hype, and then got trapped by their egos into not admitting defeat. Once honestly admitting defeat was off the table, I'm not sure there were any non-fraudulent options left. I'm not saying the fraud is excusable, but it's entirely understandable how they may have been trapped by their own egos.