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

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161–170 of 748 posts

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

#161
post #130

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. A word to the unwise: If you have done something, anything, that you have a credible reason to believe the United States government thinks is illegal, shut up . Do not do any of the following: * Go on a podcast and talk about it * Go on a Twitter livestream and talk about i…

It’s common knowledge to keep your mouth shut at this point. You don’t need to have highly-regarded lawyers advising you to know this, but SBF had (at least) two: his parents, who were with him in the Bahamas. Even if he was under a delusion that the rules wouldn’t apply to him, we can assume his parents would do everything in their power to reign him in if this was not some sort of strategy. From what I understand o…

>You don’t need to have highly-regarded lawyers advising you to know this, but SBF had (at least) two: his parents, who were with him in the Bahamas.

My experience has been that working with family or very close friends often nullifies or severally weakens professional sensibilities. It would be very understandable and almost expected if his parents are too closely involved emotionally and financially to be objective in this situation, and even if they were, the parent-child relationship also affects how one takes advice.

I would never rely on a close family member for important legal services, it seems almost as bad an idea as relying on yourself for legal services.

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

#162

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?

While not popular here, I would say Bezos has done a relatively good job of keeping his head amongst madness.

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

#163

Earlier quoted context omitted.

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…

Rockefeller avoided the press entirely (to his detriment really) until well after he'd retired.

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

#164
post #41

> "did transmit and cause to be transmitted by wire, radio, and television communication" Note to self: Remember to use only free-space lightwave communications to avoid committing wire fraud. Edit: Removed "fiber" because it looks too much like a wire and avoid being busted by outside1234!

Carrier pigeons should still work.

Pigeons would probably fall under `mail fraud`.

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

#165
post #149

Was listening to C-SPAN, they said his written statement for the record of the hearing was very offensive. "I would like to state, under oath," and then two words they wouldn't repeat. Doing a Google search of "SBF Fuck You" shows he's already told regulators and his lawyers to go F themselves, I'm guessing he said the same to the US Congress.

Maybe this guy isn't as smart as he thinks he is.

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

#166

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 would argue most do especially those who accrue it over time. Most power isn't in the broad open nor does attract attention necessarily (unless thats where it draws its source of power). It's those who attain it (power/money) in very short order that have significant difficulty adjusting to their change in circumstances.

You are only pointing to the very few who couldn't handle it or are drawn to attention.

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

#167

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…

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?

Mind the old aphorism: >The Cobblers kids have no shoes.

Not everyone brings work home with them, or forces their kids down that path.

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

#169

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?

There are so many people who have obtained fortunes and not become drunk on that.

The person who built a liquor store and grew into 20 stores across the city. People who started consulting companies. That immigrant family who scraped and scraped for decades while living above their restaurant. The list is endless, especially compared to the much shorter list of crypto criminals who are drunk on their illusory power and fame, which seems to always disappear overnight.

Any fool can make a fortune; it takes a person of brains to hold onto it.

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

#170
post #149

Was listening to C-SPAN, they said his written statement for the record of the hearing was very offensive. "I would like to state, under oath," and then two words they wouldn't repeat. Doing a Google search of "SBF Fuck You" shows he's already told regulators and his lawyers to go F themselves, I'm guessing he said the same to the US Congress.

it was "I fucked up"

https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclus...

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