Why did Wall Street loan billions to alleged fraudster Bill Hwang?

Why did Wall Street loan billions to alleged fraudster Bill Hwang?

Bill Hwang secured billions of dollars in funding from major Wall Street banks with lies ranging from assurances he could quickly exit positions to claims he held large, easily tradeable stocks like Apple and Google , according to US authorities. The banks apparently took Hwang’s words at face value when they entered into leveraged derivatives…