Bankman-crickets / Musk-endlessly fascinating

[barnhart]

T1, what do you think the appropriate outcome for Mr. Bankman-Freid should be.

[temporal1]

T1, what do you think the appropriate outcome for Mr. Bankman-Freid should be.

he is now being charged, his fate awaits. i presume he will have the best representation possible.
if his crimes are equal to or greater than Bernie Madoff, i hope he has similar penalty, i have no idea how his life in the Bahamas will affect any of it.

there were many news reports of great harm done by Bernie Madoff, it’s hard (for me) to imagine SBF could match that.
but, maybe. it’s possible.

i’m puzzled by the lack of reports from “victims.” this seems odd.
he seems to be holding onto his celebrity status - by ones who may have been financially harmed.
the difference (so far) in reports SBF/Madoff are strange. (to me)

i don’t get it. regarding media. so far.

as for judgment, that’s in the courts. i accept court rulings. i understand there are pleas, appeals, etc.

i’m very sorry it appears he may have grown up in and lived a morally bankrupt life. that’s devastating.
unfortunately, i don’t believe it’s unusual.

[barnhart]

Madoff stole from politically connected people, this is foolish as they will come after you with the law. Bankman-Fried stole mostly from dark web types and crypto bros, which may hold another set of dangers. I should think he will be watching his back the rest of his life.

[Ken]

T1, what do you think the appropriate outcome for Mr. Bankman-Freid should be.

he is now being charged, his fate awaits. i presume he will have the best representation possible.
if his crimes are equal to or greater than Bernie Madoff, i hope he has similar penalty, i have no idea how his life in the Bahamas will affect any of it.

there were many news reports of great harm done by Bernie Madoff, it’s hard (for me) to imagine SBF could match that.
but, maybe. it’s possible.

i’m puzzled by the lack of reports from “victims.” this seems odd.
he seems to be holding onto his celebrity status - by ones who may have been financially harmed.
the difference (so far) in reports SBF/Madoff are strange. (to me)

i don’t get it. regarding media. so far.

as for judgment, that’s in the courts. i accept court rulings. i understand there are pleas, appeals, etc.

i’m very sorry it appears he may have grown up in and lived a morally bankrupt life. that’s devastating.
unfortunately, i don’t believe it’s unusual.

Madoff ran an American company and most if not all of his victims were Americans.

SBF ran a company based in the Bahamas and only 2% of his clients/victims were American, the other 98% were foreigners doing business with a foreign company with no connection to the US. So Mexican cartels, Russian oligarchs, and other folks from around the world looking to hide and launder money.

To the extent to which SBF broke US laws he should be prosecuted. And he did break US laws because his fraud and embezzlement passed through US banks and US financial institutions. And FTX had US operations. But the core of his mess is frankly also Bahama's problem.

I also don't think it is necessarily the responsibility of the US government to try to make restitution to a Mexican drug lord or Russian oligarch who was cheated by a company based in the Bahamas. Let them sort that out for themselves. Those are probably not the sorts of enemies that one wants to have if you are a public figure like SBF.

[temporal1]

Madoff stole from politically connected people, this is foolish as they will come after you with the law. Bankman-Fried stole mostly from dark web types and crypto bros, which may hold another set of dangers. I should think he will be watching his back the rest of his life.

sin is such a liar. it’s just awful.

[temporal1]

Ira Lee Sorkin / Former Madoff attorney on Sam Bankman-Fried charges / 5:17min

Description:

Ira Lee Sorkin, partner at Law Firm Mintz and Gold, joins 'Closing Bell' to discuss the charges against
Sam Bankman-Fried, whether he will cooperate and the mounting litigation against him.

[Szdfan]

So more "crickets," this time from liberal Slate:

https://slate.com/news-and-politics/202 ... tions.html

The federal government is alleging serious violations of campaign finance law, which could bring substantial jail sentences of their own. First, they’re claiming that Bankman-Fried has been in violation of the straw donor ban, making donations “in the names of other persons.” The documents also allege that, because Bankman-Fried was using FTX funds to make personal donations, he also violated the ban on corporate contributions. Campaign finance law prohibits campaigns from taking money directly from corporations.

The first part is bad news for Bankman-Fried. Violations of the straw donor law—which is one of the most serious campaign finance violations—are what landed notorious fraudsters Lev Parnas and Igor Fruman, as well as arch-right commentator and conspiracy theorist Dinesh D’Souza, in the clink. The second part is bad news for Democrats.

[Josh]

So more "crickets," this time from liberal Slate:

https://slate.com/news-and-politics/202 ... tions.html

The federal government is alleging serious violations of campaign finance law, which could bring substantial jail sentences of their own. First, they’re claiming that Bankman-Fried has been in violation of the straw donor ban, making donations “in the names of other persons.” The documents also allege that, because Bankman-Fried was using FTX funds to make personal donations, he also violated the ban on corporate contributions. Campaign finance law prohibits campaigns from taking money directly from corporations.

The first part is bad news for Bankman-Fried. Violations of the straw donor law—which is one of the most serious campaign finance violations—are what landed notorious fraudsters Lev Parnas and Igor Fruman, as well as arch-right commentator and conspiracy theorist Dinesh D’Souza, in the clink. The second part is bad news for Democrats.

… perhaps the news media and government could have figured this out a lot sooner, such as before SBF made $60 billion disappear.

[Ken]

So more "crickets," this time from liberal Slate:

https://slate.com/news-and-politics/202 ... tions.html

The federal government is alleging serious violations of campaign finance law, which could bring substantial jail sentences of their own. First, they’re claiming that Bankman-Fried has been in violation of the straw donor ban, making donations “in the names of other persons.” The documents also allege that, because Bankman-Fried was using FTX funds to make personal donations, he also violated the ban on corporate contributions. Campaign finance law prohibits campaigns from taking money directly from corporations.

The first part is bad news for Bankman-Fried. Violations of the straw donor law—which is one of the most serious campaign finance violations—are what landed notorious fraudsters Lev Parnas and Igor Fruman, as well as arch-right commentator and conspiracy theorist Dinesh D’Souza, in the clink. The second part is bad news for Democrats.

… perhaps the news media and government could have figured this out a lot sooner, such as before SBF made $60 billion disappear.

Which agency of the government has jurisdiction to regulate crypto?

[ohio jones]

Which agency of the government has jurisdiction to regulate crypto?

Treasury, FBI, SEC, CFTC, CFPB, FTC, FLEC, NSF, FSOC, OSTP, Energy, EPA, Commerce, State, Justice, USAID, DHS, NEC, NSC, "and other agencies" have various roles.
Source