FTX Was (And Is) A Complete Mess
1,865,125
Published 2022-11-30
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All Comments (21)
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π§ Did you invest with FTX? β Get 20% OFF Nebula with your favorite creators! legaleagle.link/nebula
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"There were a lot of crimes broken." Damn, he's not just committing crimes; he's breaking them!
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I have to say LegalEagle should be paid by the American Bar Association for improving the public perception of lawyers.
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I'm So tired of people calling him a kid, he is or was 30 yrs old, he knows right from wrong
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Sometimes I feel inadequate and sometimes I hear these kinda stories and think "yeah I could run a billion dollar company"
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I like the "I don't even know how to code" defense. Next time I get into a car accident I'll simply explain that I don't know how the engine works
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you know, the main thing I'm hearing here is: When a kid gets picked up on the street with a little bit of marihuana he faces years in prison, when a cabal of rich people defraud money, the issue is going to be discussed in court for the next 5-10 years before the inevitably settle and retire with their ill-gotten gains.
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βNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,β βFrom compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.β coming from the Enron guy that statement is an epic level burn.
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Right now, I too am living with my mother, but sometimes I hear about someone my age or younger screwing up so much that I go, "Well, I may be a loser, but at LEAST I'm not going to jail for 25+ years for scamming hundreds (if not thousands) of people".
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The old rule still holds true, "the easiest way to rob a bank is to own a bank"
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When the guy who oversaw Enronβs bankruptcy is saying yours is the worst that heβs seen you are on a whole other planet
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I'm a woodworker for a living. But my enjoyment of this channel has apparently convinced the YouTube ad algorithm that I'm a lawyer.
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The SBF βaw, shucksβ tour is pissing me off to no end. If he never sees the inside of a cell, we shouldnβt bother to prosecute theft any more.
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When the guy who had to clean up after Enron says he's never seen such a mess you know you're in for a ride
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I just want to point out that SBF was on an investment podcast 6-7 months ago where he attempted to explain how his company worked and ended up describing a Ponzi scheme. He was even called out on it by the host. He just blew it off with 'you olds just don't understand new-money'.
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What was great about the Larry David commercial is they accidentally showed why its good to be skeptical with investing π
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The person who said "If you don't understand, don't invest" gave the best advice in the video.
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"It's possible everyone is going to jail". I do love a story with a happy ending...
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I really am working to understand everything in this video, but my brain keeps trying to default to hearing static and βrich people do stupid and illegal things; get no real consequences.β It feels like a whole other world that isnβt even fully real.
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CEO of almeida, bragged she only needed 'elementary school math' to be CEO of almeida in an interview. She said also: βWe tend not to have things like stop losses. I think those arenβt necessarily great risk management tools.β
