No sympathy but still wrong

Since I’ve been sort of tracking this case, might as well continue. The fraud trial of Bill Hwang has ended with a long 11-year jail sentence for Hwang. I have ZERO sympathy for rich fuckheads, but Hwang simply wasn’t engaging in classic fraud. He didn’t take money from any humans. Though his fund was set up with the structure of a hedge fund, it was really a ‘family office’ handling his own fortune. The bankers who lost money on the deal aren’t middle-class suckers. They have staffs of analysts and actuaries to check out deals. They decided to take his bets, and they lost. Their problem.