"He got chummy with Bill Clinton after paying the former president to speak at a conference.... And he earned praise during Senate testimony from Sen. Cory Booker, D-N.J., for a 'much more glorious afro than I once had.' In just two years since Bankman-Fried's first political donation, his money hired dozens of top-flight lobbyists and political operatives, made major investments in newsrooms like ProPublica and Semafor, and made him the second-biggest Democratic donor of the 2022 midterms, behind only the 92-year-old financier George Soros. He said $1 billion would be a 'soft ceiling' for his spending in 2024.... His downfall will leave some Democratic groups with budget holes to fill.... 'A lot of people in D.C. thought this was the next big thing. Everybody was trying to get in,' said one source close to the Bankman-Frieds’ political operation who requested anonymity to speak candidly. 'This went from the hottest thing to the most toxic thing. But that’s how D.C. works.'"
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७५ टिप्पण्या:
The blockchain can be tracked.
FTX laundered millions of dollars through Ukraine to democrats and republicans.
The exchange loaned billions of dollars of user deposits to Alameda. Hundreds of millions ended up being deposited in accounts for the DSCC and various Democrat and Republican PAC accounts.
SBF did not kill himself.
There is more here than they are willing to share
"Unprecedented Failure of Corporate Controls"
https://www.zerohedge.com/political/worse-enron-new-ftx-ceo-slams-unprecedented-failure-corporate-controls
Scandal. Scandal. Scandal. No heads to roll, just quietly forgotten. No news at 11. Nothing to see here.
From "Vegan canapes and fat donations: How Sam Bankman-Fried won Washington before he lost everything/The 30-year-old mega-donor was building a massive, multimillion-dollar Washington operation. Then the gravy train crashed"
SBF spent a lot of time specifically with Maxine Waters and with Gillibrand.
Gillibrand in particular started stepping into and supporting legislation for Crypto that was totally out of character for her several months ago.
We were reading reports and she supported giving the CFTC oversight over crypto space instead of the SEC.
Now there are massive infusions of cash into FTX from Ukraine and then subsequent donations to politicians in DC.
'This went from the hottest thing to the most toxic thing. But that’s how D.C. works.
…which is why Republicans advocate for smaller government. How vulgar and irresponsible the whole fucking town has become…
The fact NBC believes its audience wants to hear how the shit sausage is made tells me all I need to know about the lot of them…
Who, besides Susan Collins, did SBF donate money to on the Republican side?
Jeff Vader said...
There is more here than they are willing to share
It is all over the public sphere in the crypto space.
I expect a lot of complaining about disinformation soon.
There are a lot of people that just spend time tracking wallets. You can't tell which person is doing it or where they are, but you can see exactly which wallets send money to other wallets.
For example they are watching the wallet that drained the remaining FTX assets in the "Hack" convert everything to ETH tokens on the Ethereum chain.
The cash flows from Ukraine through FTX to DC politicians is clear as the sun in the sky to these people.
By the numbers: Bankman-Fried spent around $37 million during the last election cycle, almost all of which went to boosting Democratic candidates and causes. That made him the party's second-largest donor, according to OpenSecrets, and the sixth largest overall - Axios
The money he gave to Republicans was some “max donation” contributions which are capped, I believe, at $2,000.
If Axios and Open Secrets are wrong, it would be great to see a source.
If you are talking about hidden contributions to all parties, then let me buy popcorn 🍿 futures right now.
Sounds like a good topic for hearings by the new House majority.
Bankman-Fried performed scamalingus on the press ( they dry humped him because he's of the Left ) and stole from his investors funding fraudulent NGOs and "charities" to launder $$$$$$$ to politicians.
A WHOLE family full of Democrat donors. Hopefully, though I doubt it, their house of cards falls down, but with the DOJ and the FBI working as the Gestapo of the Progressives, I don't think they have a thing to worry about. It will blow over and be out of the news by next week. https://www.foxnews.com/politics/ftx-founder-sam-bankman-frieds-family-boasts-deep-ties-democrat-power-players
It ain't over till the fat sonofabitch sings. Something tells me that he's got too much on so many powerful Democrats. A different kind of Too Big To Fail, but with the same effective result. Nothing to prosecute here, let's just move on. Or Epstein Suicide Syndrome.
Politicians are pond scum. Give them all less power, regardless of party (like the Constitution envisions).
LOL! Couldn't happen to nicer bunch!
Don't the individuals and organization that received "donations" have an ethical and/or legal responsibility to return the donations?
chummy with Bill Clinton after paying..
In just two years since Bankman-Fried's first political donation, his money hired dozens of top-flight lobbyists and political operatives, made major investments in newsrooms like ProPublica and Semafor, and made him the second-biggest Democratic donor
Remember! The democrat party, is the party of The Working Man.. As Long As.. That Working Man is RICH
...behind only the 92-year-old financier George Soros.
The world will be measurably better off when those two (Soros and SBF) pass. But when Soros does pass, he will be feted by the left and his war crimes excused one more time. Imagine politics without being constantly skewed by Soros.
The exchange loaned billions of dollars of user deposits to Alameda. Hundreds of millions ended up being deposited in accounts for the DSCC and various Democrat and Republican PAC accounts.
Hey! Buying votes isn't cheap! It costs REAL Money to throw elections
"I feel bad for those who get fucked by it by this dumb game we woke westerners play where we say all the right shiboleths and so everyone likes us."
- SBF
Lol, SBF did not kill himself.
What you are seeing right now is the preparation for "That is old news".
Just your average billionaire grifter schlub.
No one asked, no one told. Say g’bye to the money, greedy peeps.
Scott Alexander blames Emsam (the rich man's Adderall?) Everyone points the finger at an addiction which saves them from having to look inward for an explanation of why the world's smartest man (SBF) suckered them.
Even the world's greatest public intellectual (SA) had to admit he was in a cult without knowing it.
One look is all you need to know that this dude is not to be trusted. So why did so many “smart” people do so?
Answering my own question:
He promises to make you very rich if you don’t ask too many questions about how.
Read this thread for the gory details from the Ch11 affadavit:
https://twitter.com/jonwu_/status/1593262926705487872
tl;dr FTX is worse than Enron:
- run by SBF + a few insiders using Signal
- committing immense fraud
- and no sense of bank accounts, employees, cash on hand, liquidity management, digital asset custody, cybersecurity practices, or any form of corporate control or governance
Here is a decent background video on SBF and some of the Crypto world
Pretty strong evidence for a swamp. A businessman (perhaps crooked) perceived his well-being as being tied to how much political influence he had in D.C So much so, that he was willing to spend up to a billion dollars in 2024, and presumably all of it for Democrats. But that dangerous extremist group, the NRA, spends tens of millions per election cycle and is an existential threat to democracy. Based on this which party is more venal?
Millions to Democrats and thousands to Republicans. I'm so cynical, I think that if the numbers were reversed, journalists might have pried into his business before and this bankruptcy might not have been an election day surprise.
Most striking is the statement, from FTX's reorg CEO, who played the same role for Enron. that in 40 years as a restructuring expert he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
It's worth joining Twitter just to read the FTX news as it develops. This story is absolutely amazing. Count on it to be suppressed to whatever extent possible. SBF will never go to jail, or if he does go you can be sure the cameras will inexplicably fail.
Make the audit data public, and searchable online. Or nobody will believe any of it.
Of course, one could say that about the Panama Papers, which were public but ignored, and the records seized by the FBI from Epstein's island, which have never been seen nor heard about since. Nobody cared that the rich evade taxes. And the FBI apparently has better uses for those records than prosecuting child-trafficking politicians and businessmen.
So perhaps the default position of not believing any of it, for any value of "it," is the wise position to maintain.
With a name like Bank Man Fried, we must be living in a simulation.
Proceeds from Ponzi scheme go to Pelosi's poodles and other progressive political poltroons.
Honest (but gullible) investors hurt worst.
BURN EFFECTIVE ALTRUISM (just another name for making a lot of money and using it to buy political influence) DOWN!
Glad it's implicating major parts of the Democratic Party establishment -- that's what they get for lining up to be bought by this fraudster and his ilk.
Jeff Vader is correct. Also, how many times in a few months can a bubble burst before it stops reinflating? Let's be done with cryptocurrency.
There is one word to describe SBF - and all of his sycophant followers and grifters: "hubris"
It's the word that first popped into my head when the articles began to slowly filter out last week. And it continues to live rent-free in my head.
I did a word search on the NBC article - the word "hubris" never appears. But there was this: "His downfall will leave some Democratic groups with budget holes to fill."
Millions of investors wiped out, but poor Dems will never see the $1Billion promised for 2024. Sads.
Achilles said: "The blockchain can be tracked."
True, but only if there's a will to find out what, who, how, when, and why. I doubt very much we'll see anybody in Washington DC or in the media with that will.
"In just two years since Bankman-Fried's first political donation, his money hired dozens of top-flight lobbyists and political operatives, made major investments in newsrooms like ProPublica and Semafor, and made him the second-biggest Democratic donor of the 2022 midterms, behind only the 92-year-old financier George Soros."
Yeah, except it wasn't his money, was it?
I'm seeing stories characterizing his actions as incompetence. Looks like straight-up theft to me. It's not like he's a bank which is allowed to loan out their assets, is it? Isn't he required to keep his clients money as a custodian or do I have that wrong?
SBF was making deals with the SEC. FTX would be the only exchange that Ginsler was going to let have a pass while the SEC went after all the FTX competitors. Of course Ginsler and SBF were family friends and college almuni.
One of his partners in FTX also gave millions to Republicans.
This is a standard pattern. Buy politicians. Have your competition regulated heavily while you receive a pass.
Become a monopoly working with the government.
Will the Democrat/Republican parties give their donations back to the Ontario Teachers Union pension fund?
"Do you hear the singing? That's the song of angry men "
Starting to see a pattern here of who hobnobs with who? The famous with the rich with the glamorous with the powerful with the glamorous with the famous with the powerful with the rich. The words of Isaiah whisper down through the ages, "the spoil of the poor is in your houses.... What mean ye that ye beat my people to pieces, and grind the faces of the poor?"
Signs of the times.
Isaiah also foretells what is coming that will console the poor and resolve these injustices, but I'll leave it to you to research and ponder.
He also funded studies "proving" that ivermectin and HCQ don't work.
Not to worry Democraticals/GOPe-ers. The DOJ/FBI are all over this and will it completely bottled up and covered up lickety split.
Mitch McConnell will never have to explain why SBF kicked $2.5M over to Mitch's PAC.
In fact, if past performance is any indicator of future results, our very own GOPe-ers will have Trump blamed for McConnell's suck up to SBF in about a week.
...made him the second-biggest Democratic donor of the 2022 midterms, behind only the 92-year-old financier George Soros.
hmmm - we are often told by democrat faithful that Soros is a figment of our imaginations.
Twice viable, once liable, now dead, aborted, in darkness, perhaps.
Oh, how fun, to have all the money in the world so that all the Movers and Shakers play court to you.
And the parties! Worth it just for that.
Don’t look for him to serve any lengthy jail time. Democrats have a different set of laws and regulations.
"This went from the hottest thing to the most toxic thing."
The most noteworthy thing here is that after all these years, after Gennifer and Paula and Monica, after disbarment, after the Russian money for a Moscow speech and the foundation, after Epstein and his island, Bill Clinton is somehow not toxic. There's your Dem ruling class for you.
Mark Rich was an earlier example of a convicted Democrat fraudster who donated millions to democrats. Guess what? Clinton pardoned him. Aren't Democrats clever, they can set up financial frauds to generate massive donations then after a few years, pardon the ringleader. How much did Epstein donate to the DNC? This new fraudster will be pardoned in a few years too. Epstein was a bit to hot to pardon.
I wish the dems would be more generous to the US and create some of these fraud schemes to pay off the debt.
A few years ago, I read an article in my city's newspaper about how a new advisor was bringing great ideas to the local art museum. I wondered how she had gotten that role, since she had no professional background. It turned out that she had won tens of millions in the lotto and became a major donor. Suddenly she was an important art expert!
To quote a famous milkman, "When you're rich, they think you really know."
Madoff is a choirboy compared to this guy. At least the master was able to recoup a substantial amount of the money Madoff swindled. Let's that guy in charge of going after SBF's political friends and causes. They aren't entitled to stolen funds.
thats 25 million by the way, discount jack black, prevented quick effective treatments for covid, with his bogus studies,
Easy come, easy go.
Everybody that took the money, and heaped on the praise, new it was a ponzi scheme.
Congrats America. Your 2022 midterms were financed by George Soros and Arnold Horshack & his Butter-face Girlfriend. .
Best part is, it was all Donald Trump's fault.
I know it’s wrong to say it, but the Ontario Teachers Pension Fund is a lefty outfit that was using its asset investments to force “ethical behavior” on companies, and by that I don’t mean honest accounting and a fiduciary responsibility to shareholders, so I smirked a little when I saw that name.
He got chummy with Bill Clinton after paying the former president to speak at a conference.... And he earned praise during Senate testimony from Sen. Cory Booker, D-N.J., for a 'much more glorious afro than I once had.
Don't you love it when the whores that run our country and the media blow the wrong guy, and then pretend it was an accident?
This reminds me of when Ana Navarro referred to Michael Avenatti as "The Holy Ghost".
Enron was a green energy scam, BTW.
Whoopsie!!
Yet another shanda fur die goyim from the world of finance.
I think any responsible legal counsel would advise SBF that's it's waaaay past time for him to shut his aspergy piehole, stop the explaining, and hunker down for the painful road ahead.
As scam artists go, this man was a quantum leap ahead of Bernie Madoff. Madoff had exquisitely coiffed hair and wore tailored suits. He had an Establishment look, but it was a little too slick. His look was more consistent with that of a con artist, although there's quite a lot of overlap between con artists and Establishment figures. They're not opposites. Look at Bill Clinton: The seamless weld of con artist and Establishment Statesman.....SBF did not look like an Establishment figure. Cargo shorts. No expensive haircuts. Life is earnest. "I make a lot of money, but that's not where my joy lies. Making lots of money is just something I have to do in order to have enough to give it away in significant amounts to make the world a better place." This is a guy who really knew how to fake sincerity. Grifters don't wear cargo shorts....Elizabeth Holmes was pretty good, but she had blonde hair and attractive features. In spite of everything, to this day, I continue to believe that attractive blonde women are intrinsically good. I think this whole Theranos thing is some kind of misunderstanding and that she will ultimately be vindicated.
Bill Clinton sure has the best friends. Cash on the table and the sky is the limit.
Bernie Schwartz had this figured out years ago. Where do you think that Chinese rocket industry came from ?
SBF + WJC = BFFs?
WTF?
Sam's scam was altruistic and effective. He will end up with a chair at Harvard and a Nobel Prize and maybe a Democratic Vice Presidential nomination.
They'll remember this man in January 2025. Then they will tell Joe Biden to sign the pardon.
@Jersey Fled: "One look is all you need to know that this dude is not to be trusted. So why did so many “smart” people do so?"
Because CRYPTO IS COOL, and only the COOL KIDS are in it, and I'M RICH AND I WANT TO BE COOL, so HEY SBF, HERE'S ALL MY MONEY.
Tom Brady is gonna be playing in the NFL until he's 50 now. Unless he got his money out last week, of course.
Sebastian said...
"This went from the hottest thing to the most toxic thing."
The most noteworthy thing here is that after all these years, after Gennifer and Paula and Monica, after disbarment, after the Russian money for a Moscow speech and the foundation, after Epstein and his island, Bill Clinton is somehow not toxic. There's your Dem ruling class for you.
It is kinda cute when you Nevertrumpers pretend that Mitch McConnell's PAC didn't receive money from FTX and when you pretend that the GOPe uniparty traitors were just as complicit in this as the democrats were in sending our tax dollars to Ukraine to be laundered back to them.
The only difference between the Republicans and Democrats in DC is that the Republicans sell us out for less money than the Democrats.
Oh Yea said...
Sounds like a good topic for hearings by the new House majority.
Do you people ever wonder why Republicans NEVER do a single god damned thing to deal with this obvious corruption when they get into power?
Because they got some money too.
Of course it was less than the Democrats. But that is just because McConnell and the GOPers are cheap losers.
For 30 years they have pulled the same thing on Republican voters and Republican voters that are attacking Trump right now are just as stupid as democrat voters in the end.
The only way any of this changes is removing the GOPe from the Republican party and putting ALL of the shitheads in jail.
And anyone taking money from the promulgators of this corrupt regulatory capture scheme, i.e. Ron Desantis, needs to be called out.
Is it just me, or does SBF look like Flounder from Animal House with wilder hair? And instead of being told "You fucked up, you trusted us," he's saying, "You fucked up, you trusted me."
Mitch McConnell gets $2.5 million in stolen money from FTX according to this tweeted FEC form.
https://twitter.com/CeccottiFrank/status/1592325110656299008
An 8% annual return on a fund is kind of like beauty in a woman, sometimes it keeps people from asking the questions that that should be asking, like "is it a trap?"
I'm risk averse and I don't really understand cryptocurrency, so I'm not likely to ever invest in it. I did think that (FTX) advertising on MLB umpires uniforms and having Brady, Curry and others promote it had the smell of over-hype. It's not like people look at athletes as brilliant investors. Call me when Warren Buffet endorses it.
This one is great.
https://twitter.com/Lisamarie1577/status/1592532976524754950
Other than the money to McConnell, SBF donated max to all six Republicans who voted to impeach Trump.
"With a name like Bank Man Fried, we must be living in a simulation."
Indeed. Somewhere/time a 8th dimensional superbeing is guffawing with his friends over that character creation.
tim in vermont: "Other than the money to McConnell, SBF donated max to all six Republicans who voted to impeach Trump."
Indeed.
Lots of McConnelltards at Althouse blog that are probably quite proud of that funding.
I'm waiting to hear from those who publicly and loudly predicted the fall of SBF and FTX ... let's start with the regulators.
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