SBF/FTX

[Horace]

More than I had at that age.

[Doctor Phibes]

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

[Horace]

@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.

[xenon]

He has the movie rights, I guess.

[George K]

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.

[jon-nyc]

Yeah, Federal Prison looms large in his future.

[jon-nyc]

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

[George K]

[89th]

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

[Doctor Phibes]

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

[George K]

@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: _______________)

[jon-nyc]

More context.

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

[89th]

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.

[Horace]

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.

[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 K]

@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.

[Mik]

@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.

[jon-nyc]

[Axtremus]

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?

[George K]

Mr. Wonderful