"Grading Scandal" in a nutshell, please

[SAllen2556]

I would really be interested to know what the multi-millionaire class of collectors thinks about all this. (I may be naive, but I assume most millionaires are pretty bright people) Do the majority even know? It's got to be a bit disheartening to know you've spent a million bucks on stuff and it turns out you've been shilled at auction, you've likely purchased altered cards, and you've generally supported a criminal class of scum bags with your money.

At what point do the negatives of collecting outweigh the positives? How long will this type of collector go on risking large sums of money in such a fraudulent hobby? It certainly seems like you can't trust any dealer, auction house, or even the supposedly impartial grading companies. I just can't imagine spending 5 figures on a card these days without feeling like an idiot.