That's an overly generous interpretation of their comments. See deogeo's post with some questions about why many of these things are even mentioned in the paper. Where they were upfront has already been acknowledged--by me. My criticisms were where they implied, but did not support a comparison to US-based finance companies generally. Here they were 'upfront' but they shrank what should be several papers worth of arguments into a single word: 'similar'.
> A better analogy would be someone trying to debunk the theory of relativity by claiming it doesn't cover perpetual motion machines.
If you think this is a better analogy, you've missed the point entirely.