And I see a feedback system with busted control mechanisms spinning out of control, just like any other speculative bubble. We should presume that there are bad actors running around in the system, because, duh, lots of opportunities to appropriate large amounts of money, of course there will be bad actors, but I don't expect that the bad actors caused the system to spin out of control because it doesn't require them to do so - any system that only has positive feedback controls will blow up. So I tend not to impute the presence of bad actors, even though I expect that there are some.