Saturday, November 19, 2022

Sam Bankman-Fried, briefly


Something someone else said about Bankman-Fried. From Jeffrey St. Clair at counterpunch.com.

+ Here’s that paragon of “effective altruism” (ie., only I am enlightened enough to know how to best spend money, therefore I’m justified in accumulating as much as possible, through whatever means I deem necessary) Sam Bankman-Fried on regulation of the financial industry: “Fuck regulators. They make everything worse. They don’t protect consumers at all.”

+ According to bankruptcy filings, more than a million people and businesses lost money in the collapse of FTX. At least a billion dollars in client funds has been reported as “missing.”

+ Of course, there is some justice in the world. Among the biggest losers in the crash of FTX are: Temasek ($320 million), Paradigm ($315 million), SoftBank ($100 million), Sequoia Capital ($350 million), Tom Brady ($45 million) and Anthony Scaramucci!

+ Celebrity promoters of crypto: Tom Brady, Steph Curry, Larry David, Mila Kunis, Jimmy Fallon and Matt Damon.

+ What are we gonna deregulate today, Bro?

I don't know why I feel disappointed in Larry David. I've had a general dislike for Matt Damon since Good Will Hunting. Have no feelings about the others. Who's Tom Brady?

It makes me feel so much better about missing out on this crypto currency fad.  Makes me think of the Fyre Festival more than it does of Bernie Madoff.

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