Seemingly every market meltdown is followed by news of a fund blowing up and a spectacular fraud. The market slid when the COVID lockdowns began. Because the decline was short-lived, there wasn’t much malfeasance uncovered. Allianz managed to have a blow up and a fraud in one fund, and this week, the German insurer settled with the SEC. It paid $1 billion in fines and $5 billion in restitution

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Cryptocurrency has been on the market for 13 years, but no one has really figured out what do with it. When money market funds were introduced to the public in the 1970s, it took people no time at all to figure out that they could use them in place of bank savings accounts. The return was higher, and the risk was so small as to be practically zero

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