This article is typical of the complete lack of ethics in the banking and finance industry. As he acknowledges, this is straight up fraud / theft and yet he is sympathetic to the perpetrators. It's the kind of amorality and lack of ethics that was so visible in the financial crisis. At least in this case there appears to have been some actual enforcement unlike in the financial crisis where essentially nobody in the industry was held accountable for their actions.

It's not ok to defraud people or steal from them just because you think they're stupid, either legally or ethnically. This is obvious to most people but apparently not to the finance industry.