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Yeah, I heard that on SEO Blackhat and made a comment:
"If you consider shop lifting a self correcting problem in that stores raise their prices and hire security guards, then yes, PPC fraud is self correcting. The same could also probably be said of insurance fraud."
"I imagine next time Google is in court of click fraud Schmidt’s statements are going to be brought up by the plaintiff. Sounds like he did not talk to either the PR or legal guys about this one."
Either way its there, and I do my business around it.
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