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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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  • 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/

        Only non-witches get due process.

        • Cotton Mather, Salem Massachusetts, 1692
        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.

              Only non-witches get due process.

              • Cotton Mather, Salem Massachusetts, 1692
              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

                    Only non-witches get due process.

                    • Cotton Mather, Salem Massachusetts, 1692
                    1 Reply Last reply
                    • A Away
                      A Away
                      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?

                      1 Reply Last reply
                      • G Offline
                        G Offline
                        George K
                        wrote on 8 Dec 2022, 20:23 last edited by George K 12 Aug 2022, 20:24
                        #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
                        • H Offline
                          H Offline
                          Horace
                          wrote on 8 Dec 2022, 20:26 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
                          • G Offline
                            G Offline
                            George K
                            wrote on 13 Dec 2022, 00:02 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
                            • G Offline
                              G Offline
                              George K
                              wrote on 13 Dec 2022, 12:53 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.

                              K R 2 Replies Last reply 13 Dec 2022, 14:27
                              • J Online
                                J Online
                                jon-nyc
                                wrote on 13 Dec 2022, 13:45 last edited by
                                #66

                                Taleb gettin’ it said.

                                Only non-witches get due process.

                                • Cotton Mather, Salem Massachusetts, 1692
                                1 Reply Last reply
                                • G Offline
                                  G Offline
                                  George K
                                  wrote on 13 Dec 2022, 14:13 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
                                  • G George K
                                    13 Dec 2022, 12:53

                                    K Offline
                                    K Offline
                                    kluurs
                                    wrote on 13 Dec 2022, 14:27 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
                                    • L Offline
                                      L Offline
                                      LuFins Dad
                                      wrote on 13 Dec 2022, 15:50 last edited by
                                      #69

                                      So this is a good time to buy, right?

                                      The Brad

                                      1 Reply Last reply
                                      • G George K
                                        13 Dec 2022, 12:53

                                        R Offline
                                        R Offline
                                        Renauda
                                        wrote on 13 Dec 2022, 16:26 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!

                                        L T 2 Replies Last reply 13 Dec 2022, 16:33
                                        • R Renauda
                                          13 Dec 2022, 16:26

                                          @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.

                                          L Offline
                                          L Offline
                                          LuFins Dad
                                          wrote on 13 Dec 2022, 16:33 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

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                                          8 Dec 2022, 12:38


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