[masklinn]

In fairness the astonishing amounts of fraud have been there all along.

[woodruffw]

Very true! I guess "precipitation of the consequences of fraud" would have been more precise.

[brightball]

Yep. Honestly it’s just been a question of whether you were going to try to take advantage on the way up or not.

[knorker]

"It's only when the tide goes out that you find out who's been swimming naked"

Fraud and ponzis work fine for a while, but a downturn is exactly what causes its instability to show.

[nightski]

As is true in traditional finance as well. If you want to escape fraud altogether you might as well not have any wealth. The entire 2008 financial crises was due to fraud...

[Sebb767]

People are still defrauded without wealth. See loan sharks, for example, or people arguing you should use debt to invest in the newest crypto hype. So even that escape hatch does not work.