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Peterdjones comments on Whining-Based Communities - Less Wrong
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Doing things other people don't like isn't cheating, but punishing people for doing things you don't like isn't cheating either, and doing things that other people don't like without taking the possible punishment into account isn't rational (= leads to not-winning).
In a perfectly acceptable sense of the word "cheating" Madoff cheated people out of their money.
What sense is that?
Telling lies for profit. Financial fraud.