Those chopped-up pieces of crap got lumped together in big collections which got... | Hacker News

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		DennisP on May 13, 2022 \| parent \| context \| favorite \| on: Luna Cryptocurrency Collapse: How UST Broke Those chopped-up pieces of crap got lumped together in big collections which got rated AAA, because the people rating them assumed that not too many of the little pieces would fail at the same time.

loeg on May 14, 2022 [–]

I think GP covered that with:

> though some were fraudulently marketed as such

DennisP on May 14, 2022 | [–]

I don't think what I described was entirely fraud. I think people honestly underestimated how correlated the failures could become.

(But I won't deny that there was also fraud, and economic incentives for inflated ratings.)

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