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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. SBF/FTX

SBF/FTX

Scheduled Pinned Locked Moved General Discussion
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  • Doctor PhibesD Doctor Phibes

    Hell, I'd be pushed to drum up $26 billion even now.

    HoraceH Offline
    HoraceH Offline
    Horace
    wrote on last edited by
    #45

    @Doctor-Phibes said in SBF/FTX:

    Hell, I'd be pushed to drum up $26 billion even now.

    You might have some valuable collectible memorabilia from your childhood in a developing country. Progressives use canned haggis as display pieces on their coffee tables, to signal their solidarity with the disadvantaged.

    Education is extremely important.

    1 Reply Last reply
    • X Offline
      X Offline
      xenon
      wrote on last edited by
      #46

      He has the movie rights, I guess.

      1 Reply Last reply
      • George KG Offline
        George KG Offline
        George K
        wrote on last edited by
        #47

        I haven't followed this story all that much, other than to be amazed at the Ponzi/Madoff nature of it all.

        But this twitter comment was great.

        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

        1 Reply Last reply
        • jon-nycJ Online
          jon-nycJ Online
          jon-nyc
          wrote on last edited by
          #48

          Yeah, Federal Prison looms large in his future.

          Only non-witches get due process.

          • Cotton Mather, Salem Massachusetts, 1692
          1 Reply Last reply
          • jon-nycJ Online
            jon-nycJ Online
            jon-nyc
            wrote on last edited by
            #49

            Lots of people have (rightly) criticized much of the media for going lightly on him, but George Stephanopoulos definitely puts him on the spot.

            Only non-witches get due process.

            • Cotton Mather, Salem Massachusetts, 1692
            1 Reply Last reply
            • George KG Offline
              George KG Offline
              George K
              wrote on last edited by
              #50

              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

              1 Reply Last reply
              • 89th8 Offline
                89th8 Offline
                89th
                wrote on last edited by
                #51

                Could a congressional subpoena even result in any punishment? I presume so, but no idea.

                George KG 1 Reply Last reply
                • Doctor PhibesD Offline
                  Doctor PhibesD Offline
                  Doctor Phibes
                  wrote on last edited by
                  #52

                  They really ought to put a cap on how much people and corporations can donate to political parties.

                  I’d be happy with zero dollars, however that might be unrealistic

                  I was only joking

                  1 Reply Last reply
                  • 89th8 89th

                    Could a congressional subpoena even result in any punishment? I presume so, but no idea.

                    George KG Offline
                    George KG Offline
                    George K
                    wrote on last edited by
                    #53

                    @89th said in SBF/FTX:

                    Could a congressional subpoena even result in any punishment? I presume so, but no idea.

                    Presumably, a subpoena can lead to a criminal referral by the committee. Then it's up to the DOJ to decide whether to prosecute.

                    Nice that SBF won't be called, so that, should he refuse to testify, he doesn't have to suffer the indignity of being held in contempt of congress and being jailed just like Lois Lerner Eric Holder Steve Bannon.

                    (Insert GIF of Waters blowing a kiss to SBF here: _______________)

                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                    1 Reply Last reply
                    • jon-nycJ Online
                      jon-nycJ Online
                      jon-nyc
                      wrote on last edited by
                      #54

                      More context.

                      https://thehill.com/policy/finance/3763916-house-panel-wants-answers-from-bankman-fried-on-ftx-collapse/amp/

                      Only non-witches get due process.

                      • Cotton Mather, Salem Massachusetts, 1692
                      1 Reply Last reply
                      • 89th8 Offline
                        89th8 Offline
                        89th
                        wrote on last edited by
                        #55

                        I just presume that “they” will charge him, and he will go to jail. Not sure who “they” is, maybe they are a he/she.

                        1 Reply Last reply
                        • HoraceH Offline
                          HoraceH Offline
                          Horace
                          wrote on last edited by
                          #56

                          I'm waiting for more information before making any judgments. But at this stage, I can't help but feel that SBF is a jerk.

                          Education is extremely important.

                          1 Reply Last reply
                          • jon-nycJ Online
                            jon-nycJ Online
                            jon-nyc
                            wrote on last edited by
                            #57

                            Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

                            Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

                            In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

                            Only non-witches get due process.

                            • Cotton Mather, Salem Massachusetts, 1692
                            George KG MikM 2 Replies Last reply
                            • jon-nycJ jon-nyc

                              Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

                              Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

                              In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

                              George KG Offline
                              George KG Offline
                              George K
                              wrote on last edited by
                              #58

                              @jon-nyc said in SBF/FTX:

                              In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

                              Yes. Pathetic...on everyone's part.

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • jon-nycJ jon-nyc

                                Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

                                Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

                                In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

                                MikM Away
                                MikM Away
                                Mik
                                wrote on last edited by
                                #59

                                @jon-nyc said in SBF/FTX:

                                Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

                                Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

                                In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

                                Amen.

                                “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                                1 Reply Last reply
                                • jon-nycJ Online
                                  jon-nycJ Online
                                  jon-nyc
                                  wrote on last edited by
                                  #60

                                  Only non-witches get due process.

                                  • Cotton Mather, Salem Massachusetts, 1692
                                  1 Reply Last reply
                                  • AxtremusA Offline
                                    AxtremusA Offline
                                    Axtremus
                                    wrote on last edited by
                                    #61

                                    There were congressional hearings for Bernie Madoff, of course there will be congressional hearings for SBF/FTX.

                                    Not sure what regulatory changes resulted from the Madoff hearings though, if any. @jon-nyc?

                                    1 Reply Last reply
                                    • George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by George K
                                      #62

                                      Mr. Wonderful

                                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                      1 Reply Last reply
                                      • HoraceH Offline
                                        HoraceH Offline
                                        Horace
                                        wrote on last edited by
                                        #63

                                        Similar to the Theranos investors. Part investment, part social climb. With both parts at risk.

                                        Education is extremely important.

                                        1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #64

                                          https://www.cnbc.com/2022/12/12/ftx-founder-sam-bankman-fried-arrested-in-the-bahamas-after-us-files-criminal-charges.html

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          1 Reply Last reply
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