Congressmembers Tried to Stop the SEC’s Inquiry into FTX • Hacker News Board

Re: Congressmembers Tried to Stop the SEC’s Inquiry into FTX

#111

Post by nathanaldensr » Fri, Nov 25, 2022, 3:12 PM UTC

s3r3nity wrote: post #18

tartoran wrote: post #10

Earlier quoted context omitted.

That would be ideal but in reality these party members raised money for the party so.. they’re in 0 trouble as far as their party is concerned. The system is a farting contest that enables this behavior. Solution would be to do away with the 2 party system and make parties more responsible with consequences as being completely voted out if corruption isn’t handled. Now both Reps and Dems are corrupted and they known…

Quoted post unavailable.

You should expect to be kneejerk-destroyed from those who suffer from cognitive dissonance. It's what they do.

Re: Congressmembers Tried to Stop the SEC’s Inquiry into FTX

#112

Post by nradov » Fri, Nov 25, 2022, 3:56 PM UTC

koolba wrote: post #54

fshbbdssbbgdd wrote: post #32

Earlier quoted context omitted.

Huh, I’m surprised one party who controlled the House or Senate never decided to just kick out all their opponents, if they are legally allowed to.

It’s an escalating game of chicken. You can see it happening in the new Congress with public statements from the Republican incoming majority leader to remove certain Democrats from committee assignments (e.g. removing Schiff from the intelligence committee). Not that long ago that was unheard of and either party could seat whoever they’d like in a committee. But similar to how the Democrats killed the executive appo…

Congress can't refuse to seat a controversial figure. They can only unseat after the fact, and that requires a 2/3 vote.

https://supreme.justia.com/cases/federal/us/395/486/

Re: Congressmembers Tried to Stop the SEC’s Inquiry into FTX

#113

Post by MikePlacid » Fri, Nov 25, 2022, 6:52 PM UTC

polygamous_bat wrote: post #69

MikePlacid wrote: post #62

Earlier quoted context omitted.

> How would smaller government have helped the FTX situation rather than make things like that much more common and worse? What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. Now, exactly what regulations we need to prevent com…

> What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. "Empathy is the capacity to understand or feel what another person is experiencing from within their frame of reference, that is, the capacity to place oneself in another's…

A List of Investors Whose Money in FTX Is Gone After Biggest Ever Crypto Fraud https://gsiexchange.com/a-list-of-investors-whose-money-in-f...

Empathy is a two-way street. Could you please ask these biggest and “smartest” investors to have some empathy to me, so they would do their homework before allocating huge amounts of capital? Instead of asking for more of my hard-earned dollars to improve… exactly what?

Re: Congressmembers Tried to Stop the SEC’s Inquiry into FTX

#114

Post by MikePlacid » Fri, Nov 25, 2022, 6:55 PM UTC

leereeves wrote: post #109

polygamous_bat wrote: post #69

Earlier quoted context omitted.

> What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. "Empathy is the capacity to understand or feel what another person is experiencing from within their frame of reference, that is, the capacity to place oneself in another's…

How much empathy should we have for gamblers in an unregulated casino known to be filled with criminals? There are so many people in the world more deserving of empathy.

Even more funny - in this case we are calling for empathy to the biggest and “smartest” investors on the planet who just do no homework before allocating huge amounts of capital.

https://gsiexchange.com/a-list-of-investors-whose-money-in-f...

Re: Congressmembers Tried to Stop the SEC’s Inquiry into FTX

#115

Post by MikePlacid » Fri, Nov 25, 2022, 7:06 PM UTC

kelnos wrote: post #81

MikePlacid wrote: post #62

Earlier quoted context omitted.

> How would smaller government have helped the FTX situation rather than make things like that much more common and worse? What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. Now, exactly what regulations we need to prevent com…

Regulations don't mean anything if there aren't enough resources to enforce them. You're not going to get those resources with smaller government.

My “hard-earned engineering wisdom” says: if you can’t use the existing resources effectively, pooling more people in will make the situation worse, not better.

Look at the list of the biggest FTX losers (I’ve just submitted it to the thread). These people have enough resources to police themselves effectively. I would agree to add taxpayers’ (mine) money to the picture no sooner than I see people who are allocating huge amounts of money without any homework going to jail.