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Sunday, June 29, 2025

Corporate frauds of the 20th century

It is more fun criticizing

The fraudds consisted of 
1.  Ponzi scheme -  paying A calling them profits, coming from new investors money
2.  Accounting changes -  expenses entered as investment
3.  Subprime mortages -  improperly underwritten loans but packaged as securities  (mortgage backed securities.
4.  Fake accounts (at WF)