451–460 of 500 posts
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thanks. who pays if he and the parents skip the US to somewhere from which they're not retrievable, and their house sells for a very presumptive 4 million?
You mean when. $4 million is a rounding error in the business he was just in. I guess we pay, somehow.
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>You're claiming the court accepted the collateral [...] without doing anything to verify it? Yes, I think that's exactly what happened.
I think equivalent collateral to 250 million was posted yes. Anyone catch the AMC -> APE reverse Let’s name the FTX tokenized stocks
David Gerard has the best summary: ‘He was released on bail for a $250 million bond — “the largest ever pretrial bond,” apparently — secured only on his parents’ home in Palo Alto, where he will be living. ’SBF will surrender his passport and remain in home confinement with electronic monitoring — he’ll wear a bracelet. He will also be required to undergo regular mental health evaluation and treatment. No financial t…
> secured only on his parents’ home in Palo Alto, This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond.
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Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support.
> Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support. There is no $250M loan. Should he fail to appear, he and each of his sureties (his parents) can be pursued by the court for whatever remains of the balance of the $250M bail amount. There is no actual $250M that changes hands until then (or, realistically, after.) The actua…
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>You're claiming the court accepted the collateral [...] without doing anything to verify it? Yes, I think that's exactly what happened.
The simplest explanation is usually true. A billionaire enabler of Sam's was willing to put up $250M in collateral because Sam spilling on him would cost him far more that $250M. I think the claim he was acting alone solely on his own behalf is absolute garbage. He rose too high, and too rapidly to have been solely of his own creation. Someone bigger than him was absolutely involved. I think we need to look further i…
No one put up collateral beyond his parents home, and only SBF and his parents are on the hookfor the full $250M, the other two sureties are exposed for a smaller amount.
This is all public record in the court documents.
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> secured only on his parents’ home in Palo Alto, This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond.
who are the 2 other individuals? please names.
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His parents' home isn't worth anything like that. Does that mean only a fraction of the bond value needs to be the security? If so, is that not bullshit?
> His parents' home isn't worth anything like that. Correct. > Does that mean only a fraction of the bond value needs to be the security? Correct. > If so, is that not bullshit? It seems to mean “lots of people’s mental model of what ‘$X bail’ means is wrong.” But that ignorance doesn’t make the actual system bullshit.
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I think bail norms probably vary by jurisdiction, etc., and your assumptions are not correct. My guess is he was not required to post full collateral, i.e. the only collateral here is the home, and then Sam, his parents, and two others posted essentially an unsecured guarantee for the full $250M, such that the government could recover up that amount from any assets held by any of those parties. While unsecured, note…
> My guess is he was not required to post full collateral, i.e. the only collateral here is the home, and then Sam, his parents, and two others posted essentially an unsecured guarantee for the full $250M, such that the government could recover up that amount from any assets held by any of those parties Approximately this, though only SBF and his parents are on the hook for the full amount, the other two for a lesser…
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As a parent it does not work that way unless you have a toxic relationship with yours.
Bullshit. You are perfectly capable of letting your children be punished for their negligence or stupidity, and any action to lessen that punishment will just show them how far you are willing to sacrifice your own life to keep them from learning a hard lesson. They know he knowingly defrauded millions of people out of billions of dollars. If I did that, my mom would let me go to prison for the rest of my life becaus…