What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders
As with the subprime lending crisis, crypto appears to be more of an example of predatory inclusion than enhancing financial access.
For years GE had a perfect record of earnings. Too good to be true? Apparently. According to the SEC, the company inflated savings and earnings through illegal accounting practices to the tune of $800 million. Although the profits weren't real, the executive bonuses were. But those are safe. Now the poor suckers who still own GE stock are left holding the bag for a $50 million fine.
From the Washington Post: