While one couldn’t predict the future of these companies – there are only a handful of Sears left in the United States and Trans World Airlines went out of business in 2001 – hedge fund managers and corporate raiders do nothing to try and build the economy.
Because of the lack of accountability, there has been increasing anger against hedge fund managers and the inequity in the stock market in general. So much so, that a bunch of Reddit users decided to band together and teach hedge fund managers a lesson. So is the stock market for people who want to get rich quickly and do little for civilization but line their own pockets?
The company faced civil and criminal suits. However, nobody went to jail. As for the Wells Fargo Stock? It took a little hit but kept climbing, unaffected by the scams. However, there are plenty of bad actors trying to take advantage of the lack of regulations and the anonymity that comes with the space, but is it any better or worse than the stock market and fiat currencies in general? Unfortunately, greed is a human trait and it will be present in any system we create.
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