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These statements can all be simultaneously true:

1. It is foolish to walk down a dark alley flashing wads of cash;

2. Anyone who robs another person who is walking down a dark alley flashing wads of cash deserves to be punished harshly;

3. If there's a pawn shop at the end of the alley that is knowingly selling guns to robbers, fencing the goods they rob from citizens, and enticing citizens to walk down the alley, they also deserve to be punished harshly;

4. If citizens are regularly being robbed, we should look for structural ways to create safety, such as lighting alleyways, reinstating bicycle patrols for police, &c.

The fact that it's foolish to invest in these ponzi schemes and outright robberies in no way dilutes the blame that these fraudsters deserve, along with the industry that has sprung up around them to profit from that fraud. And none of that invalidates the notion that regulations and enforcement seem like an awfully good idea.




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