/biz/ - Business & Finance

>>54850080
I think the problem is that even the smart people didn't believe him. Or, they did, and then lied through their teeth to everyone else about not believing him. There's a major moral hazard where the people we rely on to understand the complex environment of the financial market have a massive incentive to tell us sweet lies while they trade on the truth. And they do, because they're leveraged up to their balls and can't afford to lose their edge. Literally. Well, the last part, at least.