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FTX founder Sam Bankman-Fried to be released on $250M bail

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Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#41

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

I'm pretty sure you are. I've never seen M being used for thousand.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#42

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

When does M mean thousand? I've never seen that. K means thousand.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#43

Earlier quoted context omitted.

How many bail bondsmen have $225M lying around and why would they risk it on SBF who is a major flight risk?

Probably very few can guarantee that much. But bondsmen don't have to just cut you loose with zero oversight. For a small slice of the $25m they can hire a team to follow him around 24/7. I assume they also put him in a ankle tracker and have him checking in on a strict schedule. All of this cuts into their profit so it's only as risky as they are cheap about monitoring him.

What recourse would a bail bond company have if they monitored him fleeing?

Can they physically detain him? Or just report to the authorities?

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#44

His ex-girlfriend and CEO of Alameda really put the nail in the coffin. Turned on him for 250K$ bail, forfeiture of all assets and basically no prosecution (except some taxes) as long as she co-operates. Probably dropped the entire playbook of Sam and made the case irrefutable and ironclad. https://s3.documentcloud.org/documents/23495436/crypto-coope...

What do you mean no prosecution? She’s going to be a convicted felon. Just because there isn’t going to be a trial doesn’t mean she’ll have zero consequences.

It's entirely likely she'll land on her feet, write a book, get a netflix documentary, and end up on daytime talk shows talking about her new line of hemp handbags.

If she can semi-credibly claim to be mostly ignorant, and cooperates energetically with prosecutors, anything can happen.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#45

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

If it's US-centric, especially if talking about amounts of money, it's million. Always.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#46
post #41

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

I'm pretty sure you are. I've never seen M being used for thousand.

movie production cards. roman numerals.

i would not expect that to be the case in this context. you would also probably never mix roman numerals and arabic numerals like that.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#47

Earlier quoted context omitted.

Had to give up their home for the bond? edit: i.e., it is far more likely to be a 25M home than a 250M home, because I've never heard of a 250M home.

Bail is a security - you only actually lose the asset securing bail if you abscond.

Bond is not bail. Bond is a percentage of bail that you pay to someone willing to put up the entire bail, and who will help find you if you abscond.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#48

I feel sorry for his parents - legal fees is going to financially wipe them out and any plans for retirement. I'd rather stick to my mediocre returns of my money market accounts than this crypto forex NFT nonsense.

They're free to let him take a plea deal and go to prison

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#49
post #41

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

I'm pretty sure you are. I've never seen M being used for thousand.

[deleted]

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#50
post #41

I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.

I'm pretty sure you are. I've never seen M being used for thousand.

Apparently M can mean thousand in finance: https://www.insurancejournal.com/blogs/old-republic-surety/2...
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