this post was submitted on 24 Jan 2024
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AskBeehaw
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It has not been my impression that the US has more business scams than other places. Most of the big ones I can think of are phone and internet scams primarily run out of other countries to avoid US law enforcement.
Truth in advertising laws aren't perfect but do exist and are mostly enforced. Although I'm not sure false advertising exactly counts as a scam.
Is there a specific type of scam you're thinking of?
Well through financial instruments like stocks.
There are some (like in The Wolf of Wall Street,) but the penalty is prison time if caught. Crypto still has a lot of scams, though.
Ah, I'm not sure how the US market rules compare to other large stock exchanges but I don't believe there are an enormous number of outright scams on either the NYSE or NASDAQ. There's definitely a fine line between marketing, hype, and scam. Musk, for instance, pretty blatantly crosses the line into market manipulation but that's more an exception than a rule. In general, disclosures are accurate and you can pretty much know what you're getting into before buying.
There is only one scam in the stock market, and that is the whole system.
Ah ok so it seems worse than it is because a few corrupt people are incredibly visible.