Who is Sam Bankman-Fried and Why Are The Fed's After Him?Prev Topic Next Topic

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Ziopic$

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Dec 14, 2022, 11:27 am

Quote: Originally posted by GiveFive on Dec 6, 2022
I've been thinking about SBF talking to the media.

There are three possibilities I can think of why he'd do it.

One, he doesn't have an attorney which is absolutely crazy if that's the case. Hard for me to believe he isn't lawyered up by now. (His father is a Yale Law School educated professor of law at Stanford University)

Two, His lawyer told him it's OK to go ahead and talk to the media. Yeah right! All lawyers tell their clients to go ahead blab their guts out to the press. If you think that's true, there is a bridge for sale in Brooklyn I'd like to show you.

Three, his lawyer told him it's not OK to talk to the media but SBF did it anyway. If this is the case SBF sure aint the genius they say he is.

I cant wait to see how this all pans out....but it'll be years before we see the final results. G5

You can be a genius and still do dumb things. A genius without common sense.

Yogi was smarter than the average bear , but still got caught with his fingers in the picnic basket.

Good Luck to All
Stack47

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Dec 14, 2022, 4:04 pm

Quote: Originally posted by AllenB on Dec 13, 2022
OK, I said it was going to be fun to watch. The Democrats are in Control. They don’t want this stuff getting out. Neither do Republicans, but they don’t have much to do but hide and watch.

What was the breakdown between Democrat and Republican Donations? I honestly don’t know, but I am willing to bet that it is lopsided.

Bankman-Fried, 30, hosted conferences in the Bahamas that boasted visits from former politicians like Tony Blair and Bill Clinton, The Associated Press reported, as he built a reputation as a heavyweight campaign contributor — particularly among Democrats, whom he publicly courted in recent years.

From the article you linked.

"I honestly don’t know"

That's why use terms like "I read that" or "heard that" when I'm not sure about the accuracy of a source. According to Atlantic reporter David A. Graham, "Bankman-Fried has said in interviews that he personally actually gave nearly as much to GOP candidates and causes as to Democratic ones".

"They don’t want this stuff getting out"

Should have quit after "don't know" because the The Senate Banking, Housing and Urban Affairs Committee held public hearings today on the collapse of FTX. C-SPAN probably has the text.

BTW, "the FED" is the Federal Reserve System and their board of Governors are accountable to and testify before Congress.

"When will we ever learn?"
AllenB

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Dec 14, 2022, 4:39 pm

Quote: Originally posted by Stack47 on Dec 14, 2022
"I honestly don’t know"

That's why use terms like "I read that" or "heard that" when I'm not sure about the accuracy of a source. According to Atlantic reporter David A. Graham, "Bankman-Fried has said in interviews that he personally actually gave nearly as much to GOP candidates and causes as to Democratic ones".

"They don’t want this stuff getting out"

Should have quit after "don't know" because the The Senate Banking, Housing and Urban Affairs Committee held public hearings today on the collapse of FTX. C-SPAN probably has the text.

BTW, "the FED" is the Federal Reserve System and their board of Governors are accountable to and testify before Congress.

I guess it is a pronoun thing not to put one in your sentences. So I have to guess.

Did you exclude I or you from your first sentence? What difference does it make? It was your source.

Pretty sure your pronoun in your second sentence was You (meaning me). Well like I said it is going to be fun to watch. Most interesting to me will be how they address those campaign contributions and what SBF was trying to get for them. It's possible that he was just trying to be a big shot and there was nothing to see.

As to your last sentence, Are you just trying to be a Dick? I said "Feds" as in them guys from the Government.

Just to be clear. I think that both Democrats and Republican Politicians are mostly rotten. Democrats just Stink a whole lot more.

Your turn Lib.
Artist77

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Dec 14, 2022, 5:44 pm

Quote: Originally posted by AllenB on Dec 14, 2022
I guess it is a pronoun thing not to put one in your sentences. So I have to guess.

Did you exclude I or you from your first sentence? What difference does it make? It was your source.

Pretty sure your pronoun in your second sentence was You (meaning me). Well like I said it is going to be fun to watch. Most interesting to me will be how they address those campaign contributions and what SBF was trying to get for them. It's possible that he was just trying to be a big shot and there was nothing to see.

As to your last sentence, Are you just trying to be a Dick? I said "Feds" as in them guys from the Government.

Just to be clear. I think that both Democrats and Republican Politicians are mostly rotten. Democrats just Stink a whole lot more.

Your turn Lib.

I have learned in life and during my career that honest and secure people tend to say I don't know far more often than people who spout answers to everything. It tends to be the mark of a more secure, well rounded and adaptable person.

And yes, you clearly referred to feds vs the fed which is driving us into a recession.
Stack47

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Dec 14, 2022, 11:42 pm

Quote: Originally posted by AllenB on Dec 14, 2022
I guess it is a pronoun thing not to put one in your sentences. So I have to guess.

Did you exclude I or you from your first sentence? What difference does it make? It was your source.

Pretty sure your pronoun in your second sentence was You (meaning me). Well like I said it is going to be fun to watch. Most interesting to me will be how they address those campaign contributions and what SBF was trying to get for them. It's possible that he was just trying to be a big shot and there was nothing to see.

As to your last sentence, Are you just trying to be a Dick? I said "Feds" as in them guys from the Government.

Just to be clear. I think that both Democrats and Republican Politicians are mostly rotten. Democrats just Stink a whole lot more.

Your turn Lib.

"What was the breakdown between Democrat and Republican Donations? I honestly don’t know, but I am willing to bet that it is lopsided."

And I references the Atlantic article so you would know. Making imaginary bets is one thing; can you prove his political donations were lopsided? And seriously, who in their right mind bets on something they just said "I honestly don't know"?

Read this on Time, “All my Republican donations were dark,” SBF said, referring to political donations that are not publicly disclosed in FEC filings. “The reason was not for regulatory reasons, it’s because reporters freak the f—k out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”

"I think that both Democrats and Republican Politicians are mostly rotten."

Because Democrats and Republicans make up 97% of the Senate and 100% of the House, not much we can do about it, is there?

"They don’t want this stuff getting out"

Just wondering, why did you say that?

"What difference does it make?"

Exactly and what Bankman-Fried did with the millions he embezzled doesn't change the fact lots of people are out millions. His political donations should make no difference unless you think he embezzled the money with the knowledge of the politicians he donated money to their campaigns.

"When will we ever learn?"
Stat$talker

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Dec 15, 2022, 4:08 am

Uuh Ooh...There'z nuthin worse than a Fried food fight on a Lottery website...than a Bit by Bit Fried Political fight on a Lottery website...

Move ovah CNN

Ya wanna BET?
GiveFive

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Dec 15, 2022, 7:47 am

Quote: Originally posted by Stat$talker on Dec 15, 2022
Uuh Ooh...There'z nuthin worse than a Fried food fight on a Lottery website...than a Bit by Bit Fried Political fight on a Lottery website...

Move ovah CNN

Ya wanna BET?

Ya know Stats, I should have known when I started this thread that it would probably evolve into a political discussion/arguement.

But I dont care. I'm enjoying the snappy patter. G5

Play Smart!
Stat$talker

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Dec 15, 2022, 9:35 am

Quote: Originally posted by GiveFive on Dec 15, 2022
Ya know Stats, I should have known when I started this thread that it would probably evolve into a political discussion/arguement.

But I dont care. I'm enjoying the snappy patter. G5

Yeeah, I hear ya....nobody heaa likez a more vigorous debate than Meee, but I'm afraid the 2 worst candidate'z pathz has crossed on THIZ one..

Keentuky Bourbon Cowboy vs KHaLiPhOrNyA Cricketz
Stack47

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Dec 15, 2022, 5:06 pm

Quote: Originally posted by GiveFive on Dec 15, 2022
Ya know Stats, I should have known when I started this thread that it would probably evolve into a political discussion/arguement.

But I dont care. I'm enjoying the snappy patter. G5

It only became political when someone without knowing the facts said about SBF's political donations, "I honestly don’t know, but I am willing to bet that it is lopsided".

Several news outlet's including CBS News is reporting "Bankman-Fried said in an interview in late November that his donations to Republicans were roughly equal to those he made to Democrats, but that "all my Republican donations were dark." He also said he made all of these donations during the primary contests." And yesterday the Senate Senate Banking, Housing and Urban Affairs Committee held public hearings today on the collapse of FTX.

You'll have to ask them why they decided to make it political and why they didn't fact check.

Oh, and do you thing the collapse of FTX will send the U.S. into a deep recession?

"When will we ever learn?"
sully16

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Ringleader

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Dec 16, 2022, 5:37 am

Sam Bankman-Fried : He did not kill himself.
GiveFive

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Dec 16, 2022, 10:07 am

Quote: Originally posted by sully16 on Dec 16, 2022
Sam Bankman-Fried : He did not kill himself.

Did a news agency report that he had committed suicide? If so, I had not heard that. G5

Play Smart!
GiveFive

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Dec 16, 2022, 10:38 am

Quote: Originally posted by Stack47 on Dec 15, 2022
It only became political when someone without knowing the facts said about SBF's political donations, "I honestly don’t know, but I am willing to bet that it is lopsided".

Several news outlet's including CBS News is reporting "Bankman-Fried said in an interview in late November that his donations to Republicans were roughly equal to those he made to Democrats, but that "all my Republican donations were dark." He also said he made all of these donations during the primary contests." And yesterday the Senate Senate Banking, Housing and Urban Affairs Committee held public hearings today on the collapse of FTX.

You'll have to ask them why they decided to make it political and why they didn't fact check.

Oh, and do you thing the collapse of FTX will send the U.S. into a deep recession?

I guess it just depends upon what news source you read/listen to as to how much money he donated to whom. I saw one Republican Congresswoman interviewed on The FOX Business Channel say - "It appears as if FTX was a gigantic embezzlement machine funneling money to The Democratic Party." But who really knows who got how much of the money SBF donated?

As for me personally, I don't care so much about SBF donating money to anybody. I'm far more interested in the criminal aspects of the case. I've had a thing for following high profile cases prosecuted by US Attorney's for years. I recently followed the case against Elizabeth Holmes, which took years to bring to trial, and I suspect that SBF's case will too. The target date for him to be extradited to The US from The Bahama's is February 8, 2023, and that's if he doesn't fight extradition.

The lead US Attorney for The Southern District of New York (Damian Williams) has filed a total of eight charges against SBF. Four of them, conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, and money laundering are said to be the easiest charges for The Government to gain a conviction. Barring SBF making a deal with the prosecutors, it should be an interesting trial to follow. I cant help but wonder why The prosecutors have yet to charge others SBF was involved with. OK, they got Sam The Sham. Where's The Pharaoh's? (Pun intended with a tip of the cap to rockin and rollin Sam The Sham and The Pharaoh's of "Wooly Bully" fame)

As I've posted here before, while the case involves the relatively new asset class of cryotocurrency, the alleged crimes are not new. Crypto is simply the investment vehicle for which FTX was matching buyers and sellers. I couldn't possibly tell you whether or not the collapse of FTX will plunge The US into a recession. However I do think it's going to be the catalyst for new regulations being placed on the crypto world by The US Securities and Exchange Commission. G5

Play Smart!
sully16

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Ringleader

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Dec 16, 2022, 11:05 am

Quote: Originally posted by GiveFive on Dec 16, 2022
Did a news agency report that he had committed suicide? If so, I had not heard that. G5

Throwback to Jeffrey Epstein. Thinking maybe someone will make sure he keeps his mouth shut.
DELotteryPlyr

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Dec 17, 2022, 5:52 pm

Quote: Originally posted by GiveFive on Dec 16, 2022
I guess it just depends upon what news source you read/listen to as to how much money he donated to whom. I saw one Republican Congresswoman interviewed on The FOX Business Channel say - "It appears as if FTX was a gigantic embezzlement machine funneling money to The Democratic Party." But who really knows who got how much of the money SBF donated?

As for me personally, I don't care so much about SBF donating money to anybody. I'm far more interested in the criminal aspects of the case. I've had a thing for following high profile cases prosecuted by US Attorney's for years. I recently followed the case against Elizabeth Holmes, which took years to bring to trial, and I suspect that SBF's case will too. The target date for him to be extradited to The US from The Bahama's is February 8, 2023, and that's if he doesn't fight extradition.

The lead US Attorney for The Southern District of New York (Damian Williams) has filed a total of eight charges against SBF. Four of them, conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, and money laundering are said to be the easiest charges for The Government to gain a conviction. Barring SBF making a deal with the prosecutors, it should be an interesting trial to follow. I cant help but wonder why The prosecutors have yet to charge others SBF was involved with. OK, they got Sam The Sham. Where's The Pharaoh's? (Pun intended with a tip of the cap to rockin and rollin Sam The Sham and The Pharaoh's of "Wooly Bully" fame)

As I've posted here before, while the case involves the relatively new asset class of cryotocurrency, the alleged crimes are not new. Crypto is simply the investment vehicle for which FTX was matching buyers and sellers. I couldn't possibly tell you whether or not the collapse of FTX will plunge The US into a recession. However I do think it's going to be the catalyst for new regulations being placed on the crypto world by The US Securities and Exchange Commission. G5

GREAT coverage of this subject matter G5! I have been hearing alot of the same things you have posted. I did hear this and didnt see anyone mention yet (or missed it)

I was listening to the hearings live as they happened while driving. The new CEO of the new company said SBF was using Quickbooks instead of and accounting firm

Which took the head of the hearing, Maxine Waters, by complete surprise. She did a double take saying Quickbooks like 3 times as it sunk in. If I remember right it was this exchange, about Quickbooks which the new CEO then said the line of how

grossly inexperienced and unsophisticated individuals they were.

On another note, his parents are professors from Stanford Law school. If I heard right, the mom was working for one of the companies, I think Alameda Research. My question is this - HOW is it possible his 'so-called' super-smart-sophisteicated-highfaluting parents not see the huge red flags?????? Also you can add any early investors in that too, not doing their homework and verifying accounting/internal auditors ect.

One last thing, I remember seeing his interviews on CNBC over the summer. He was looking like a goof as usual, had a t-shirt on. Did the interview from his computer desk with another 'worker' behind him working. There was a plate of 1/2 eaten food next to him. The graphic on the screen said how he was the head of a 10 or 15 billion FTX. All I could think is how does someone who is running a 15 billion dollar company look like a college student with no money???? And now I know why.

Money WON is twice as good as money earned
DELotteryPlyr

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Dec 17, 2022, 6:28 pm

Quote: Originally posted by DELotteryPlyr on Dec 17, 2022
GREAT coverage of this subject matter G5! I have been hearing alot of the same things you have posted. I did hear this and didnt see anyone mention yet (or missed it)

I was listening to the hearings live as they happened while driving. The new CEO of the new company said SBF was using Quickbooks instead of and accounting firm

Which took the head of the hearing, Maxine Waters, by complete surprise. She did a double take saying Quickbooks like 3 times as it sunk in. If I remember right it was this exchange, about Quickbooks which the new CEO then said the line of how

grossly inexperienced and unsophisticated individuals they were.

On another note, his parents are professors from Stanford Law school. If I heard right, the mom was working for one of the companies, I think Alameda Research. My question is this - HOW is it possible his 'so-called' super-smart-sophisteicated-highfaluting parents not see the huge red flags?????? Also you can add any early investors in that too, not doing their homework and verifying accounting/internal auditors ect.

One last thing, I remember seeing his interviews on CNBC over the summer. He was looking like a goof as usual, had a t-shirt on. Did the interview from his computer desk with another 'worker' behind him working. There was a plate of 1/2 eaten food next to him. The graphic on the screen said how he was the head of a 10 or 15 billion FTX. All I could think is how does someone who is running a 15 billion dollar company look like a college student with no money???? And now I know why.

Update to my post - just did a little poking around in internet about the parents. Looks like I was wrong, mom did not work for any of the companies. Dad on the other hand -

"leading scholar in the field of tax law,"

WOW! Dad's gonna get ROASTED if he gets called in court about the tax stuff.

Money WON is twice as good as money earned

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