Posted on 11/23/2022 7:43:21 PM PST by SeekAndFind
To be honest, it’s kind of hard to try and entertain the innuendo and rumors that Democrats and the media are working to do damage control on behalf of Sam Bankman-Fried, the founder of now-bankrupt crypto exchange FTX, because the idea is just so reprehensible.
But they sure do keep giving us ammunition to make that suggestion, don’t they?
Bankman-Fried and House Financial Services Committee Chair Maxine Waters
Bankman-Fried - the second biggest donor to Democrats behind George Soros - has all but admitted that he squandered billions of dollars of other people’s money carelessly, writing “I fucked up” on Twitter in a mea culpa about two weeks ago, days after a run on his exchange exposed it to be a shell of what many perceived it to be.
Institutional investors in FTX have written their stakes in the firm to $0.
The $5 billion bank-run on FTX that started it all has many everyday crypto investors worried that their “investments” with FTX are total losses. For many, it was their life savings.
Since then, Bankman-Fried’s former company continues to be at the center of extremely shady circumstances. It has seen a “substantial amount” of its assets go missing in the days after its blowup.
The lawyer hired to oversee the liquidation of FTX, who also was in charge of the same task for Enron, has said “he’s never seen a company in worse shape than FTX.”
“I have over 40 years of legal and restructuring experience. I have been the chief restructuring officer or chief executive officer in several of the largest corporate failures in history. . . . Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
To add insult to injury, Bankman-Fried has also admitted that his entire persona of being an altruist was a ruse, calling it a "dumb game we woke westerners play."
Now widely accepted by the public and most in the financial industry to have committed a massive $30 billion fraud that has spawned innumerable comparisons to Madoff and Enron, it’s unclear to me what more of an admission of guilt is needed to extradite Bankman-Fried to the United States and place him under arrest.
I know I’m not the only one who can hear the drumbeat of potentially covering up for Bankman-Fried beating a little louder with every day that goes by and he isn’t shown being paraded off somewhere in handcuffs.
Instead, the only photo I have seen of Bankman-Fried since his firm’s blowup has been one of him meandering around a grocery store in the Bahamas.
For historical reference, Bernie Madoff was arrested on December 11, 2008.
On December 11, 2008, financier Bernard Madoff is arrested at his New York City apartment and charged with masterminding a long-running Ponzi scheme later estimated to involve around $65 billion, making it one of the biggest investment frauds in Wall Street history.
His arrest came two days after he admitted to his brother that he was running a fraud.
“On December 3, he told longtime assistant Frank DiPascali, who had overseen the fraudulent advisory business, that he was finished. On December 9, he told his brother Peter about the fraud.”
Between the beginning of December and his arrest on the 11th, he also confessed to his sons, who “turned him in”.
This means, at the maximum, it was 11 days between Madoff being “turned in” and being arrested.
For reference, FTX collapsed around November 8, 2022 and Binance turned down the company’s bailout on November 9, 2022. Bankman-Fried admitted to “fucking up” on November 10, 2022 and FTX filed for bankruptcy on November 11, 2022, which means it has already been 11 days since the bankruptcy filing - and nearly 2 weeks since the firm’s collapse.
In the interim, instead of Bankman-Fried being brought to justice in the United States, we find out that “members of the House are requesting testimonies from Bankman-Fried, top executives from FTX and Alameda at a hearing in December.”
"The fall of FTX has posed tremendous harm to over one million users, many of whom were everyday people who invested their hard-earned savings into the FTX cryptocurrency exchange, only to watch it all disappear within a matter of seconds.
Unfortunately, this event is just one out of many examples of cryptocurrency platforms that have collapsed just this past year. That’s why it is with great urgency that I, along with my colleague ranking member McHenry, announce the Committee’s intention to hold a hearing to investigate the collapse of FTX."
Rep. Maxine Waters
Not at a criminal court - at a congressional hearing. Not anytime soon - in December.
In the interim, we are being treated to a cushy response from the media, who has hailed Bankman-Fried as anything other than a criminal. The New York Times wrote a widely criticized puff piece on Bankman-Fried 3 days after FTX filed for bankruptcy.
The Washington Post’s take was that he was a pandemic fighter:
For a party that seems to absolutely loathe billionaires, Democrats and their friends in the media sure are taking it soft on Bankman-Fried.
Key democrats also took it soft on Theranos founder and former billionaire Elizabeth Holmes. After she drove an $8 billion fraud into the ground and was found guilty in a court of law, Democrat Cory Booker even wrote a letter pleading for a light sentence for her. Try to keep your lunch down while reading this:
Now, what do these two frauds have in common?
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Who said he was bankrupt? He’s got a billion stashed away.
Shareholder walleta got hacked, and billions went missing after the ftx collapse.
He F’n took the money and stashed it.
I’m sure his Democrat activist mom and dad are so proud of him.
The ghost of Bernie Mandoff wants to know too......
(Why Isn’t Bankrupt FTX Crypto Exchange Founder Sam Bankman-Fried In Handcuffs Yet?)
Because it would expose the money-laundering operations giving big bucks to Democrats and the whole thing was a Ponzi Scheme from the get-go? /shiny side out
(I’m sure his Democrat activist mom and dad are so proud of him)
SBF ran a great Ponzi Scheme. Made big bucks.
Same for Alameda it seems.
I guess it’s okie dokie to defraud investors of billions as long as democrats are allowed to wet their beaks.
These “Ivy League” colleges need total scrutiny.
He He financed he Democrats ergo he has committed no crime. Democrats with money can do no wrong.
Why? He’s like Epstein, except with money instead of sex.
Because he’s still in control of the slush fund for demoncrats.
His father was a part of the company, either on salary or a free lance advisor. The other day one could still see him on a YouTube video from a few months ago in 2022 sponsored by his son’s company. His father, a Stanford professor with many decades of tax law understanding and teaching certainly knows the ins and outs of tax law and how money can be made to flow here and there and everywhere and nowhere. His mother’s non-profit organization, which exists to send money in support of the the true believer kookiness of the Left, was a recipient of the big bucks sucked in by her little boy in shorts and white socks - the one Bill Clinton has had use for, and vice versa. Ditto for hundreds, if not thousands of Democrats. Mommy’s worldview writ large by one or both of her sons.
Since the post-election bombshell about billions of the magic crypto money allegedly going directly and indirectly back and forth to Ukraine, public praise of Zelenskyy seems to have disappeared.
Jon Corzine and MF Global. Investing is risky. Sorry bout your luck.
I would assume that the company was an LLC and the loss is to the. Company and not against his personal wealth. Also, the Bahamas don’t give up the bodies that quickly unless there is a conviction or a really good reason.
I am sure that he is a protected person after all. Only the peasants like us after all have to pay for anything.
Because he’s a democrat?
Just a wild guess there.
within a few days, it went from $121m Bahamian property bought by SBF & Co, to $300m-plus and, today, $400m-plus.
story began with Clinton, Blair, Scaramucci, Kissinger, Schultz, Rupert Murdoch, etc etc etc, and dwindled to just a bit of mockery of SBF & his lifestyle/beanbag etc.
lock him up, along with the rest of his mob.
Because he and Ray Epps are Besties?
Dead man walking. Clinton’s involved.
SS1
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