Aside from the author's bubble argument (which I don't really buy), a possible outcome is that quasi-legal fraud will get out of control and bring this all to a

Aside from the author's bubble argument (which I don't really buy), a possible outcome is that quasi-legal fraud will get out of control and bring this all to a very public halt, at which point the politicians will rush in to "fix" things. Human nature is what it is. People will lose money. People will get ripped off. People will blame each other and sue. All of that is bad. The question is will the good outweigh the bad, and will anyone notice?