Unrepented / Greater Fool Theory

It is known as the Greater Fool Theory. Or as Fitzgibbon put it: "What Wall Street is about is smart guys thinking about ways to make money from dumb ones.

what about fooling in history ? looks like in the 1920s sub prime collateral and siv were the backbone of one of the most colossal frauds in financial history. Mr Kreuger gains the coverage of the Economist, a Swedish finance buccaneer depicted by Galbraith ,a hypochondriac economic historian, as a man of genius unbounded by integrity.

http://economist.com/finance/displaystory.cfm?story_id=10278667