FTX fiasco evokes the great financial swindles of history

Sam Bankman-Fried claims to be more interested in gaming than literature. Not long ago, the founder of FTX, the failed crypto exchange, stated, "I don't want to say that no book is worth reading, but I actually believe something pretty close to that. As Walter Bagehot wrote in Lombard Street in 1873, "good times, also of high prices, almost always beget much fraud.