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It's not exactly surprising that a company known for its extensive dealings with corrupt actors is also bad at managing risk.
by timmytokyo 4y ago
It's not exactly surprising that a company known for its extensive dealings with corrupt actors is also bad at managing risk.
- mtlmtlmtlmtl 4y agoYeah this makes sense. One of the cases where A causes both B and C. People willing to take part in criminal activities are almost definitionally less risk averse. You're risking fines, loss of reputation, prison, unemployability, destitution. Not then surprising that those same people would be more willing to take undue financial risk, all the while maybe closing an eye to some red flags.
- riffraff 4y ago> It's not exactly surprising that a company known for its extensive dealings with corrupt actors is also bad at managing risk. HSBC is just as evil, and is doing well enough that they just acquired the UK branch of SVB https://www.icij.org/investigations/fincen-files/hsbc-moved-vast-sums-of-dirty-money-after-paying-record-laundering-fine/ https://www.icij.org/investigations/fincen-files/hsbc-moved-...
- HorizonXP 4y agoFTX bought Voyager when they went down. Acquisitions != health
- IG_Semmelweiss 4y agoIts well known that acquisitions are a great way to hide fraud, too. Number of studies on that front. Another (usual) reason is when a company lacks clear avenues for growth so they are looking to buy some growtg