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The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

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Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#151

Earlier quoted context omitted.

> How anyone could look at this man's behavior over the last few weeks and not think he was on a fast track to a federal penitentiary is beyond me Seeing how thoroughly he convinced people that he had political influence, and given his general lack of awareness, I’m willing to give merit to his believing he was immune. Similar to how people outside securities think insider trading is more rampant than it is, insider…

Do we have some examples of people who have amassed great real or perceived fortunes (and power) that have not become drunk on it? Musk on stage with Chapelle last night, Elizabeth Holmes, or SBF’s whole schtick, who are the ones who have kept their feet on the ground? What are the attributes of these others who don’t lose themselves in fawning attention and (sometimes short-lived) mountains of capital?

See some videos on YouTube of Warren Buffet and Charlie Munger conducting Berkshire's annual shareholder meetings. It will help.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#153

So 4 counts on wire fraud and then also commodities fraud, securities fraud, money laundering and campaign finance laws. For the moment, if we set aside whether these will be proven, how bad does a stack of charges like this look for him if they are proven?

Quoted post unavailable.

Nothing. I'm surprised they actually stuck him with that one.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#154
post #144

Is there some reason why this kind of stuff is typed up on a typwriter?

Various legal systems have standards for the form for which documents should be submitted to them which are surprisingly nitpicky in terms of items like fonts and spacing. Of course, these standards were created when typewriters were the dominant use case, so had deference to what typewriters could actually do. Even though most of the typewriter use has fallen out of fashion, the standards remain, with the results th…

At this point it also probably makes it easier for law-specific OCR software to round up the standard metadata. With the sheer volume of paperwork in that industry, nobody is interested in reinventing the regex wheel for every document.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#155

Earlier quoted context omitted.

I think this is a bit far fetched. He was the scion of famous law professors. He grew up around the law. To think he didn’t understand what the general public does about the law takes a special kind of … assumption that directly contradicts the obvious facts. He very likely knows more about the law than anyone on here. How could he not?

My father sold cars most of his adult life, and certainly throughout all the time we shared together until his death. He was very good at it. And yet I know fuck all about selling cars or cars in general. Nada. Nothing. I didn't even learn to drive until I was in my thirties. "X's parents are in profession Y" hardly means anything.

Not even “here’s how to negotiate and get a good deal on a used car”? Sorry to hear, that’s the kind of stuff a parent should pass on if they know.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#156

Earlier quoted context omitted.

> How anyone could look at this man's behavior over the last few weeks and not think he was on a fast track to a federal penitentiary is beyond me Seeing how thoroughly he convinced people that he had political influence, and given his general lack of awareness, I’m willing to give merit to his believing he was immune. Similar to how people outside securities think insider trading is more rampant than it is, insider…

Do we have some examples of people who have amassed great real or perceived fortunes (and power) that have not become drunk on it? Musk on stage with Chapelle last night, Elizabeth Holmes, or SBF’s whole schtick, who are the ones who have kept their feet on the ground? What are the attributes of these others who don’t lose themselves in fawning attention and (sometimes short-lived) mountains of capital?

Some possibilities are Warren Buffet, Jeff Bezos and Bill Gates ex-wives (though, maybe they don’t count as amasssing their fortunes), um…

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#157

Earlier quoted context omitted.

> How anyone could look at this man's behavior over the last few weeks and not think he was on a fast track to a federal penitentiary is beyond me Seeing how thoroughly he convinced people that he had political influence, and given his general lack of awareness, I’m willing to give merit to his believing he was immune. Similar to how people outside securities think insider trading is more rampant than it is, insider…

Do we have some examples of people who have amassed great real or perceived fortunes (and power) that have not become drunk on it? Musk on stage with Chapelle last night, Elizabeth Holmes, or SBF’s whole schtick, who are the ones who have kept their feet on the ground? What are the attributes of these others who don’t lose themselves in fawning attention and (sometimes short-lived) mountains of capital?

I can well imagine there being a selection bias towards the ones who want to build a cult of personality being the only ones that "make news".

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#158
post #146

Earlier quoted context omitted.

Not a lawyer neither, but in the leaked testemony of his to congress, he states multiple times that he didn't want to file for Chaoter 11 and even ordered people not to. Sounds a little bit incriminating, postponing Chapter 11, insolvency proceedings and all that. Seems he really cannot shut up...

Or he didn't want to file for Chapter 11 because he is obsessed with being in the limelight. That would also explain why he can't shut up.

Either way, this whole story deserves a book, a film and a ton of popcorn.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#159
post #23

Earlier quoted context omitted.

Quoted post unavailable.

Are you implying if I buy ads to promote your candidacy using illegal funds that the election you won is illegitimate? How would we go about enforcing that?

That’s what banks do with normal people or small businesses. Source of capital, AML etc

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#160

Earlier quoted context omitted.

I think this is a bit far fetched. He was the scion of famous law professors. He grew up around the law. To think he didn’t understand what the general public does about the law takes a special kind of … assumption that directly contradicts the obvious facts. He very likely knows more about the law than anyone on here. How could he not?

Your theory of the genetic transmission of legal knowledge is an interesting one. We await your research for further study.

I don’t think the poster is proposing genetic transmission. Rather it’s fairly common for parents to share “insider knowledge” they have with their kids to help them be successful. But this does not always happen.
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