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How finfluencers destroyed the housing and lives of thousands of people: The real estate speculator bezzle has a very ugly third act.
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How finfluencers destroyed the housing and lives of thousands of people (permalink)
The crash of 2008 imparted many lessons to those of us who were only dimly aware of finance, especially the problems of complexity as a way of disguising fraud and recklessness. That was really the first lesson of 2008: “financial engineering” is mostly a way of obscuring crime behind a screen of technical jargon.
This is a vital principle to keep in mind, because obscenely well-resourced “financial engineers” are on a tireless, perennial search for