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The New Coffee Room

  1. TNCR
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  3. SBF/FTX

SBF/FTX

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  • J Online
    J Online
    jon-nyc
    wrote on 1 Dec 2022, 03:21 last edited by
    #42

    Let’s put it in perspective, 100k isn’t bad for an unemployed 30 year old.

    You were warned.

    1 Reply Last reply
    • H Offline
      H Offline
      Horace
      wrote on 1 Dec 2022, 15:11 last edited by
      #43

      More than I had at that age.

      Education is extremely important.

      1 Reply Last reply
      • D Offline
        D Offline
        Doctor Phibes
        wrote on 1 Dec 2022, 15:19 last edited by
        #44

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

        I was only joking

        H 1 Reply Last reply 1 Dec 2022, 15:38
        • D Doctor Phibes
          1 Dec 2022, 15:19

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

          H Offline
          H Offline
          Horace
          wrote on 1 Dec 2022, 15:38 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 1 Dec 2022, 19:22 last edited by
            #46

            He has the movie rights, I guess.

            1 Reply Last reply
            • G Offline
              G Offline
              George K
              wrote on 1 Dec 2022, 23:48 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
              • J Online
                J Online
                jon-nyc
                wrote on 2 Dec 2022, 04:04 last edited by
                #48

                Yeah, Federal Prison looms large in his future.

                You were warned.

                1 Reply Last reply
                • J Online
                  J Online
                  jon-nyc
                  wrote on 4 Dec 2022, 02:59 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.

                  You were warned.

                  1 Reply Last reply
                  • G Offline
                    G Offline
                    George K
                    wrote on 7 Dec 2022, 23:10 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
                    • 8 Offline
                      8 Offline
                      89th
                      wrote on 7 Dec 2022, 23:12 last edited by
                      #51

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

                      G 1 Reply Last reply 7 Dec 2022, 23:32
                      • D Offline
                        D Offline
                        Doctor Phibes
                        wrote on 7 Dec 2022, 23:15 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
                        • 8 89th
                          7 Dec 2022, 23:12

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

                          G Offline
                          G Offline
                          George K
                          wrote on 7 Dec 2022, 23:32 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
                          • J Online
                            J Online
                            jon-nyc
                            wrote on 8 Dec 2022, 00:09 last edited by
                            #54

                            More context.

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

                            You were warned.

                            1 Reply Last reply
                            • 8 Offline
                              8 Offline
                              89th
                              wrote on 8 Dec 2022, 00:15 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
                              • H Offline
                                H Offline
                                Horace
                                wrote on 8 Dec 2022, 00:17 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
                                • J Online
                                  J Online
                                  jon-nyc
                                  wrote on 8 Dec 2022, 00:19 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.

                                  You were warned.

                                  G M 2 Replies Last reply 8 Dec 2022, 00:25
                                  • J jon-nyc
                                    8 Dec 2022, 00:19

                                    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.

                                    G Offline
                                    G Offline
                                    George K
                                    wrote on 8 Dec 2022, 00:25 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
                                    • J jon-nyc
                                      8 Dec 2022, 00:19

                                      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.

                                      M Away
                                      M Away
                                      Mik
                                      wrote on 8 Dec 2022, 02:20 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
                                      • J Online
                                        J Online
                                        jon-nyc
                                        wrote on 8 Dec 2022, 03:57 last edited by
                                        #60

                                        You were warned.

                                        1 Reply Last reply
                                        • A Offline
                                          A Offline
                                          Axtremus
                                          wrote on 8 Dec 2022, 12:38 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?

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