Posted on 11/11/2022 3:04:17 PM PST by PJ-Comix
On Friday, the Washington Free Beacon reported that Democrat megadonor and cryptocurrency scion Sam Bankman-Fried lost his entire $16 billion fortune.
If you are extremely wealthy and want to receive over-the-top praise from Politico, the answer is simple. Simply donate millions of dollars to Democrat candidates. Such was the case with Bankman-Fried, whose liberal largesse had Politico singing paeans to him a few months ago.
(Excerpt) Read more at newsbusters.org ...
For the record when you are running a business, you are supposed to remove your own money from the business so that the risk of the business is zero to you.
I wonder if he did that?
More to come, Anthony Scaramucci has huge investments with ftx.
tom brady may have to give up his mega mansion
$16 Billion in paper fortune. "Poof and its gone".
Another story claimed Mr. Vegan was using the cryptocurrency people stored in his exchange to fund a hedge fund account that went "poof" from bad investments.
Like the movie “Wall Street”
“From the moment I laid eyes on you, I knew you had what it takes.”
Fast forward to the end of the movie
“From the moment I laid eyes on you, I knew you were no good.”
Ouch.
That’s going to hurt if he went Kevin Bacon on this scam.
Guess Tom will have to keep playing until he’s 50.
I seriously doubt Brady-Bunchen put any money into FTX. It seems FTX gave the couple now worthless FTX stock in exchange for endorsements.
—”For the record when you are running a business, you are supposed to remove your own money from the business so that the risk of the business is zero to you.”
Where is that written?
Be careful of crypto-dudes with two last names. Or anyone with such a ridiculous hyphenated name. Such as this Bankman-Fried. This goofball went to MIT and more. Very highly educated. He said he was a vegan.
Between this and the layoffs at Twitter and Facebook I’m enjoying the misfortune of our enemies. They pushed their twisted moronic evil on the world them suffering eases my frustration with their stupidity.
As I understand the tax code, any money you loan a business to get it off the ground can be removed without paying a penalty because there is no income, until you have recovered your initial investment.
This piece of advice I heard in one of those business seminars. The goal is to remove your initial investment, as quick as you can without risking the business, because you want the business to be self-financing. It also allows you to start another business if you want and can manage it, with the same initial investment.
Hate to see a fine public-spirited feller such as this one lose every cent and end up in a cardboard box on a ventilation grid. Maybe grateful Dem friends can throw him a bone.
But any friends he may have had in Washington won’t be there for him as his crumbling business empire threatens to torpedo the entire digital currency market.
Nope, guess not. Too bad, so sad...
LOL!
I’m sure the big guy got his 10% cut safely in his illegal offshore accounts before the collapse.
The idea is to remove yourself from the business, so you can run it objectively because you have nothing to lose if the business goes under.
When you keep money in the business, you lose objectivity because you can’t help but think about money you will lose if the business goes under. It also minimizes your risk if you won’t lose anything if you lose the business.
here is mattress mack transporting 10 million dollars in a wheelbarrow.
several people commented on the name of the plane...whatever they see has gone over my head
https://twitter.com/overtime/status/1591101398204104704
speaking of Scaramucci, check out his portion from 9min50sec in. (or listen to all for another example of Murdoch media’s all-out attack on Trump):
croll down for audio:
on news.com.au homepage, podcast is titled “Aussie ambassador reveals what Biden’s really like”. (Arthur Sinodinos is the Ambassador - a Conservative politician, who remains in the position as a left-over from the previous Australian govt. a left-wing Govt has been in power since May 2022. Sinodinos can’t believe Biden’s energy, vigor, how he’s on top of his game, etc. Sinodinos has worked for Murdoch media.)
Scaramucci says Trump is a complete idiot, unfit to be President, couldn’t concentrate, a baby, etc etc. doesn’t think he’ll run in 2024 but, if he does, Scaramucci will do everything he can to stop him winning.)
AUDIO: 17m53s: 12 Nov: news.com.au: I’ve Got News For You Podcast
‘Biggest loser’: Trump’s 2024 bid in jeopardy
Host: Andrew Bucklow
Donald Trump is being blamed for the Republican party’s results in the midterm elections. Could it affect his chances of running for President again in 2024? We hear from Australia’s Ambassador to the US and ex-Trump staffer, Anthony Scaramucci.
https://www.news.com.au/national/ive-got-news-for-you/podcast/addc2b261d7ffa5efaf36d1dc52803c0
the host revelling in the attacks on Trump:
news.com.au: Andrew Bucklow - PIC
Andrew was an FM radio producer for seven years before joining news.com.au as an entertainment writer in 2013. He has since covered major events including the Academy Awards (which he has attended twice), the annual G’Day LA gala, Melbourne Cup, Logies and the ACRAs (radio awards). Andrew, or “Bucky” as he’s more commonly know, currently hosts news.com.au’s daily news podcasts, From The Newsroom and I’ve Got News For You.
https://www.news.com.au/the-team/andrew-bucklow
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