Kevin Duffy on the role of the fraudster

Does the scam artist serve a social function?  Sam Bankman-Fried unwittingly shed light on the corruption of many institutions: venture capital, elite universities, charities, professional sports, Hollywood, mainstream media, ESG rating services, regulatory bodies and the Democratic Party.  Remarkably, he was able to infiltrate their highest levels in the blink of an eye.  Just last May, SBF was rubbing shoulders with the global elites at the World Economic Forum in Davos.

~ Kevin Duffy, "FTX Collapse: Lessons for investors," The Coffee Can Portfolio, p. 8, January 24, 2023