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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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  • jon-nycJ Offline
    jon-nycJ Offline
    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 Offline
          jon-nycJ Offline
          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 Offline
              MikM Offline
              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 Offline
                jon-nycJ Offline
                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
                        • George KG Offline
                          George KG Offline
                          George K
                          wrote on last edited by
                          #65

                          "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.

                          kluursK RenaudaR 2 Replies Last reply
                          • jon-nycJ Offline
                            jon-nycJ Offline
                            jon-nyc
                            wrote on last edited by
                            #66

                            Taleb gettin’ it said.

                            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 George K
                              #67

                              Jesus....

                              Thread: https://threadreaderapp.com/thread/1602395132569223168.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
                              • George KG George K

                                kluursK Offline
                                kluursK Offline
                                kluurs
                                wrote on last edited by
                                #68

                                @George-K said in SBF/FTX:

                                They must be proud. It takes exceptional talent to screw up this much.

                                1 Reply Last reply
                                • LuFins DadL Offline
                                  LuFins DadL Offline
                                  LuFins Dad
                                  wrote on last edited by
                                  #69

                                  So this is a good time to buy, right?

                                  The Brad

                                  1 Reply Last reply
                                  • George KG George K

                                    RenaudaR Offline
                                    RenaudaR Offline
                                    Renauda
                                    wrote on last edited by
                                    #70

                                    @George-K

                                    Why should his parent’s pick up or even help with the legal fees? He is an adult, regardless whether or not he behaves like one.

                                    He made his own bed and now he must sleep in it.

                                    Elbows up!

                                    LuFins DadL taiwan_girlT 2 Replies Last reply
                                    • RenaudaR Renauda

                                      @George-K

                                      Why should his parent’s pick up or even help with the legal fees? He is an adult, regardless whether or not he behaves like one.

                                      He made his own bed and now he must sleep in it.

                                      LuFins DadL Offline
                                      LuFins DadL Offline
                                      LuFins Dad
                                      wrote on last edited by
                                      #71

                                      @Renauda said in SBF/FTX:

                                      @George-K

                                      Why should his parent’s pick up or even help with the legal fees? He is an adult, regardless whether or not he behaves like one.

                                      He made his own bed and now he must sleep in it.

                                      Maybe mom was laundering more than just his small clothes? Their money is his money and they are concerned about it being confiscated?

                                      The Brad

                                      1 Reply Last reply
                                      • jon-nycJ Offline
                                        jon-nycJ Offline
                                        jon-nyc
                                        wrote on last edited by
                                        #72

                                        Insofar as they’ve accepted any monetary gifts from him they’ll be subject to clawback suits. The dad hired his own attorney, according to the NYT.

                                        Only non-witches get due process.

                                        • Cotton Mather, Salem Massachusetts, 1692
                                        RenaudaR 1 Reply Last reply
                                        • LuFins DadL Offline
                                          LuFins DadL Offline
                                          LuFins Dad
                                          wrote on last edited by
                                          #73

                                          I would think that the best course of action is to just plead guilty and throw yourself on the mercy of the court? In this case are teams of high priced attorneys really going to make a difference?

                                          The Brad

                                          1 Reply Last reply
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