Live data from Hacker News

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

justice.gov

171–180 of 748 posts

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

#171

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?

Warren Buffett might be one example

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

#172

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…

Obligatory: https://www.youtube.com/watch?v=sgWHrkDX35o

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

#173

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?

> He very likely knows more about the law than anyone on here. How could he not?

The answer is simple, through a lack of knowledge. Knowledge of the law is not genetically inherited.

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

#174
I've seen a bunch of his interviews now and his message is pretty controlled, actually. It all boils down to: (a) I don't know, wasn't aware, and (b) I messed up / lost focus. These appearances seem to play a therapeutic (instead of legal or financial) role for SBF (bad idea, obviously). Yesterday (12/12) he was still talking about returning in a "senior executive role" to help in the bankruptcy. He is also convinced FTX USA and FTX Japan were fully solvent and that they still have a future. Fascinating.

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

#175
post #41

Earlier quoted context omitted.

Carrier pigeons should still work.

Then you have to worry about falcons, or Blackadder. Smoke signs, maybe... but then you have to worry about the weather and wild fires... Seems they thought that one through!

What about flag signaling? Asking for a friend.

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

#176
post #78

Earlier quoted context omitted.

The cynic in me says that it really does matter who you defraud. Where Madoff went wrong was ripping off other rich people. So, if SBF defrauded more upper- than middle- or working-class folks, then he's screwed.

This is silly. You think the career DOJ prosecutors are looking at the list of victims and only deciding to prosecute if there is a rich person on the list?

A lot of the things that defraud non-wealthy people (multi-level marketing, all of those "supplements" you can buy in the medicine isle, false advertising) aren't illegal or practical to sue over.

Let's look at one particular example, the stop the steal scam. Thousands of people were tricked in to donating to the ringleaders of an impossible political cause based on false claims, and none of them are going to jail for that in particular. You could find dozens of similar examples just by keeping an eye on the news, but nobody thinks about it because a certain type of con with victims that professionals can't empathize with has become normalized.

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

#177

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?

Warren Buffet? Maybe Bill Gates? Queen Elizabeth II?

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

#178

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?

> How could he not?

Well, he’s not a lawyer, for one…

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

#179

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…

I don't pity SBF, but this advice is important for innocent citizens. It's unfortunate that anything you say to law enforcement can be used against you - but none of it can be used for you. A police officer can testify against you, but if they try to support you it will be dismissed as "hearsay".

Because one is hearsay and one is a party admission. This is basic evidence law.

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

#180

Earlier quoted context omitted.

My father is a civil engineer. That doesn't qualify me to build a bridge.

Sure. But you probably know a few basics about bridges. That’s the overarching point - a basic lawyer thing is if you are ever in trouble, don’t talk to anyone: cops, media, etc. so it’s curious why he decided to anyway.

The easy answer is that he was zooted to the gills on ADHD meds. There might be others too.
Post reply on HN