621–630 of 1001 posts
Reminds me of working for MCI-Worldcom. When you think you’re working for crooks, you probably are. Run away.
Tell a naive young guy more. What are the red flags?
If your gut says they might be criminals, they are probably criminals.
I liked the article detailing how poorly he did on the stand: https://www.thefp.com/p/humiliating-cross-examination-sam-ba... “Did you say in private, ‘Fuck regulators?’ ” “Did you call some customers ‘dumb motherfuckers?’ ” “Did you fly to the Super Bowl in a private plane?” “Most FTX customers did not have a line of credit, correct?” “Do you deny that Alameda had a $65 billion line of credit?” And on, and on, and o…
Which is exactly what representatives from Facebook, Google and Microsoft did on trials and when being questioned by congress
Does anyone want to share their personal story of how they lost money on FTX? There were allegedly a million victims, so surely there are some on HN...
For anyone curious, Ken White has a good and entertaining article breaking down maximum sentences in print (here, 110 years) and what people actually serve. It's worth a read: https://www.popehat.com/2013/02/05/crime-whale-sushi-sentenc... A takeaway: "1. Maximum sentences have very little relation to actual sentences in federal law. When the government quotes the maximum sentence, they are trying to scare you. When…
At this point, I wouldn't be surprised if they do. To deter potential future-SBFs. I mean, the whole cryptocurrency space is filled to the brim with scammers, many will never face anything at all. But when you've nailed the biggest of them all, might as well set an example.
EDIT: I do not believe he will serve 110, or 50, or 20 years. But hopefully they will dole out the maximum of a realistic sentencing.
A couple of year behind the bars would be a complete joke. From all I've seen, I have zero faith that SBF will be "rehabilitated" by a year or two in prison.
Earlier quoted context omitted.
It's being debated in the bankruptcy court. Some creditors want to sell it off and others want to let it ride. Because this is crypto, some people want to issue a crypto token that represents claims on the estate.
Spoiler alert: it will be sold off to satisfy the debts of the bankrupt corporation. That's SOP for bankruptcy court, and it would take an extremely persuasive case to convince the court to do otherwise.
> You’d think this MIT graduate would wise up, but he never did. The MIT campus has a major public road running through the middle of it, one of the busiest surface streets in the area. You don't have to stand there very long to see a crowd of students almost get hit by a car because they didn't look before they crossed the street. Point is, the old cliche is true, there really is such a thing as a person with a lot…
> there really is such a thing as a person with a lot of book-learning but less common sense than a sea slug I don't even think SBF had the book-learning, just intellectual arrogance. "I don’t want to say no book is ever worth reading, but I actually do believe something pretty close to that. I think, if you wrote a book, you f---ed up, and it should have been a six-paragraph blog post."
I was reading the trial report by Inner City Press. The AUSAs were incredibly thorough and strategic. The evidences were air-tight, the cross-examination was masterfully controlled with precision and incisiveness, and of course the closing argument was forceful. It was a great joy to read the report, as if I was watching an extended episode of The Good Fight. On the other hand, the defense was really weak, quite hand…
Don McLean - American Pie melody
"The daayy the Bankman fried".
SBF was the largest donor to the Democrat party. Can we rehold those elections?