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Bankman-Fried used $100M in stolen FTX funds for political donations, US says

reuters.com

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Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#151

Post by Melting_Harps »

andrewmutz wrote: post #32
edgyquant wrote: post #23

Earlier quoted context omitted.

Considering this is a common belief, it’s hard to agree they’ve convinced anyone.

Have you been to a country that has actual corruption?

> Have you been to a country that has actual corruption?

Absolutely, I lived in E. Europe for a significant amount of time; and I almost respect them more for making it as obvious as they do. At least there isn't an air of goaded legitimacy, and everyone knows that if you just pay the bribe you can just go and live your life on as normal. Whereas in the US you are pressured to pretend it's not all that, and that questioning such a system makes you a heretic of the best system ever devised.

Seriously, it's pathetic and I just don't have the patience anymore; this is exactly what happens when Corps, Banks and Wall Street lobby to create legislation that favors them.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#153

Post by blitzar »

game_the0ry wrote: post #76
BoxFour wrote: post #70

Earlier quoted context omitted.

It’s not uncommon for a bankruptcy court to initiate a clawback of payments like this.

Given the political nature of the fraud, I am not confident that will happen, but I am hopeful.

Given the political nature of the fraud, I am MORE confident that will happen.

https://en.wikipedia.org/wiki/Game_theory

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#154

Post by jjtheblunt »

OfSanguineFire wrote: post #117
jjtheblunt wrote: post #104

Earlier quoted context omitted.

[flagged]

Soros’s fellow Hungarian Jew Imre Kertész, survivor of Auschwitz and Buchenwald and Nobel Prize for Literature laureate, said that he sometimes looked back on the death camps and recalled the moments of happiness he experienced there. It’s [spoiler warning] the climactic moment of his most acclaimed book. For Jews, living through the Holocaust brought some paradoxical emotions, which ultimately serve as proof that th…

It's sad and interesting. I once sat next to an old man on a bus in Boston (summer 1996) who had the serial number tattoo on his wrist, and since he was about the age of my own dad, asked him about it. He was thankful that I asked, i think something about people are afraid to ask how he is, or similar. he told me he had survived a camp (which one i forget) and had lost his family, and that he realizes it was not Germans in general but the crazy criminals in power, but he was forever wary of anything that reminded him of it. Very kind avuncular conversation.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#155

Post by permo-w »

sschueller wrote: post #131
permo-w wrote: post #128

Earlier quoted context omitted.

with regards to the second half of your comment, I suspect this is a belief coloured by your distaste for the political system in general. This is understandable, but not really fair Yes the political donation system is horrendous, and yes both parties are as a result corrupt capitalist lapdogs to corporations and the super rich, but given that the system exists, it's hard to legally blame a party for taking a donati…

I agree that you should not be responsible when the donation is done legally but it appears not only did SBF use stolen funds but also paid illegal donations

if that's the case, and it's provable in a court of law that they knew, then yeah I agree

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#156

Post by tcmart14 »

newaccount74 wrote: post #58
lacrimacida wrote: post #24

Earlier quoted context omitted.

> Because even if the politician wants to repay it, new donors want their money going to re-election activities, not going to repay FTX. After a period of time, you might as well be asking the television stations to return the money they received for running the campaign ads, which... isn't gonna happen. Politicians should be made to pay out of their own pockets or have an insurance for this type of situation.

> Politicians should be made to pay out of their own pockets or have an insurance for this type of situation. Why stop at politicians, though? Shouldn't everyone who accepts large sums of money be held accountable if it turns out the money was stolen? At least to some degree?

I think it depends on what we mean by 'held accountable.' If it means, make best effort to return the money sure. If it means more than that, probably not. If someone robbed a bank, evaded the police and donated all that money to the Salvation Army in the next county, the Salvation Army has no way of knowing the money was stolen. So the only fair thing to expect the Salvation Army to do in this situation is, make a best effort to return what they can.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#157

Post by permo-w »

darkmarmot wrote: post #137
permo-w wrote: post #125

Earlier quoted context omitted.

what's the better option

Laws that preclude the existence of billionaires...

I agree that society should be structured more like it was in the post-war era - to the end of a better distribution of wealth, but there are always going to be powerful actors with interests contrary to yours, whoever you are, whatever you believe, whether that power is through business, religion, unions, wealth, or international relations. Solving the issue of billionaires cuts off one head, but it doesn't fix human weakness to influence

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#158

Post by stefantalpalaru »

ProjectArcturis wrote: post #98
mynameishere wrote: post #95

Earlier quoted context omitted.

[flagged]

>Soros-type supervillain As in, someone who survived the Holocaust and uses his money to promote democracy around the world?

[dead]

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#159

Post by YeBanKo »

waveBidder wrote: post #134
permo-w wrote: post #130

Earlier quoted context omitted.

in my experience being good at maths doesn't reliably indicate you're good at anything wildly beyond maths. often some related subjects like programming, but not always

is there any evidence they're actually good at math?

She received some honors from math competitions. And he was in math camps and such. Both have degrees either in math or physics. So yeah, they are above average for sure.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#160

Post by 1vuio0pswjnm7 »

1vuio0pswjnm7 wrote: post #29

"An amended indictment accused the 31-year-old former billionaire of directing two FTX executives to evade contribution limits by donating to Democrats and Republicans, and to conceal where the money came from." Here is the amended indictment. https://storage.courtlistener.com/recap/gov.uscourts.nysd.59... "9. As noted above, SAMUEL BANKMAN-FRIED, a/k/a "SBF," the defendant, also used misappropriated customer money t…

Further reading:

https://www.citizensforethics.org/wp-content/uploads/2022/12...

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