Can we talk about how the basis for our valuation of the modern asset market is a house of cards that only exists within our minds?
They didn’t launch bombs, they didn’t destroy factories. Nothing material was actually lost. All they did was defraud investors with the false promise of future gains. And this false promise of future gains is supposed to have led to a trillion dollars worth of loss? Give me a break. That trillion dollars was never real. There was nothing underlying that valuation that justified it.
To be clear, both of these guys need to be stripped of their assets and spend a couple decades in prison. But these two couldn’t wipe out a trillion dollars, unless that trillion dollars was never real in the first place.
