Article

2022-11-12 Economy

Sam Bankman-Fried's crypto empire ‘was run by a gang of kids in the Bahamas' who all dated each other

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Posted by Besoeker 2022-11-12 06:08|| || Front Page|| [10 views ] Top

#1 Apologies to the late Bernie Madoff.

Posted by Besoeker 2022-11-12 06:14|| 2022-11-12 06:14|| Front Page Top

#2 Cue the "Jaws" theme...

Posted by Mercutio 2022-11-12 07:07|| 2022-11-12 07:07|| Front Page Top

#3 So another bunch of know it all B schoolers bites reality

Yep this crypto thing makes Bernie’s little gig look like peanuts

Posted by Sock Puppet of Doom 2022-11-12 09:08|| 2022-11-12 09:08|| Front Page Top

#4 It's the pre-dotcom bust mantra: "This time it's different."

Posted by M. Murcek 2022-11-12 09:14|| 2022-11-12 09:14|| Front Page Top

#5 Any bets on how long it takes for this to disappear? Mr. Bankman-Fried was bragging about how he was going to bankroll Democratic candidates this year, and you know some of that boodle made it to their checkbooks.

Mike

Posted by Mike Kozlowski 2022-11-12 10:04|| 2022-11-12 10:04|| Front Page Top

#6 And some people worry about fiat currencies.

Some worry about valueless crypto currencies.

I worry about frozen Orange Juice futures. ;^)

Posted by AlanC 2022-11-12 10:46|| 2022-11-12 10:46|| Front Page Top

#7 My mom used to say, "When the big one hits, if all you have are $20 gold Eagles and you need bread, how much do you think bread will cost?"

Posted by M. Murcek 2022-11-12 11:11|| 2022-11-12 11:11|| Front Page Top

#8 I forgot to say “Ivy League B-Schoolers”

Posted by Sock Puppet of Doom 2022-11-12 11:47|| 2022-11-12 11:47|| Front Page Top

#9 All fiat currency is based on the chimera of trust. Perhaps Yellen should think about that after all the pumping she's done in her life. It is risible to think that going from a risible piece of oblong paper, that is at least literally tangible, to a batch of electrons stored in a server somewhere under the control of someone, somewhere, is confidence building. Crypto-currency is techno-babble version of three-card monte!

https://en.wikipedia.org/wiki/Three-card_Monte

Posted by NoMoreBS 2022-11-12 12:45|| 2022-11-12 12:45|| Front Page Top

#10 #9 Ditto to 100

Posted by AlanC 2022-11-12 14:26|| 2022-11-12 14:26|| Front Page Top

22:16 Seeking Cure For Ignorance
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19:58 Mike Kozlowski
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