Why Is No One Asking SFB What Happened to the $3.3B He Borrowed?

Post by rhaway84773 » Tue, Dec 06, 2022, 10:09 PM UTC

tom-thistime wrote: post #99

gitfan86 wrote: post #95

Earlier quoted context omitted.

The main difference is that banks enforce a low loan to value ratio and collateral. So a bank will give a 10k personal loan to someone who has 100k of stock and 500k of equity in their home. If that person doesn't pay back the loan the bank can sell some of that person's stock or put a lean on the person's house. With FTX no one was putting up collateral other than crypto.

In addition, banks don't precisely lend out "money they don't have." They lend out cash they don't have against outstanding loans that are rationally expected to be repaid. If those loans are bad and the bank conceals it, or if they misrepresent the amount of those loans, then that's fraud. (IANAL)

Post by moistly » Tue, Dec 06, 2022, 10:38 PM UTC

alexfromapex wrote: post #24

Because the US government has been captured by Organized Crime. Look up the documentary Everything is a Rich Man's Trick. Then look into all the connections between the mafia and the presidents of the USA.

Post by tom-thistime » Tue, Dec 06, 2022, 10:52 PM UTC

dheera wrote: post #118

gitfan86 wrote: post #95

Earlier quoted context omitted.

The main difference is that banks enforce a low loan to value ratio and collateral. So a bank will give a 10k personal loan to someone who has 100k of stock and 500k of equity in their home. If that person doesn't pay back the loan the bank can sell some of that person's stock or put a lean on the person's house. With FTX no one was putting up collateral other than crypto.

Hmm, I got a car loan from a credit union that didn't even ask for my assets, only my credit report.

Post by nullish_signal » Wed, Dec 07, 2022, 9:52 AM UTC

sn_master wrote: post #36

nullish_signal wrote: post #4

Quoted post unavailable.

If you don't use up all of your budget for the year, it gets reduced for the next one. This is a major reason the defense spending in general doesn't go down. Nobody wants to have lesser budget, it impacts their promotions and mini political empires. Same is true in many large organizations, which is why mass layoffs and other forms of 'shock therapy' happen every once in a while, because the way the system is manage…

Post by georgeplusplus » Wed, Dec 07, 2022, 10:32 AM UTC

tom-thistime wrote: post #111

georgeplusplus wrote: post #89

Earlier quoted context omitted.

>>>Seems to me people have completely unrealistic expectations of how financial crimes play out. This will take years to unwind. I remember Bernie Madoffs case unwinding rather quickly once news broke. The elephant in the room that needs to be addressed is that SFB was the second largest doner to the democratic party where the DOJ is headed by an democratic appointee. This is a very bad look for justice and the democ…

SBF is toast and everybody knows it. Sure, hopefully they'll track down any crooked campaign contributions that might have been made. Unfortunately many traditionally-crooked campaign contributions are legal now.