Student loans are a big business. The U.S. has amassed more than $1.7 trillion in outstanding student debt. But while more than 43 million Americans are currently holding student debt, many are unaware of what exactly happens with their loans after they are issued. Billions of dollars worth of student loans are packaged and sold as assets known as SLABS to some of the biggest investors in America. So what exactly are SLABS and how do they help Wall Street profit from student loans?
As more retail investors trade penny stocks, innocent traders could be become victims. These equities are more vulnerable to fraud and have a history of multimillion-dollar scams. "I'm getting a lot of calls from investors who are duped and getting scammed by penny-stock operators," Jacob Zamansky, an investment fraud lawyer, told CNBC. Watch this video to learn more about how penny stocks inspired a new breed of investors, high-stakes gamblers, risk-taking fraudsters and enforcement crackdowns.
Owen Lau of Oppenheimer shares why he is optimistic on Coinbase's prospects and discusses the regulatory and legislative environment for cryptocurrency exchanges.