November 21, 2022

Anyone think the founder of FTX--and a big donor to the Democrat party--Bankman-Fried, will be charged?

As the ripples from the collapse of FTX continue to widen, the Democrat-loving Mainstream Media is hard at work trying to gen up sympathy for the mastermind of the whole brazen con, liberal darling Sam Bankman-Fried, constantly describing him as "civic-minded" and a "philanthropist."

So between those efforts and the way the corrupt U.S. system of...I was gonna say "justice" but that'a a sick, sick joke today--anyway, the way the system works for Democrats, I wanna make my prediction this day: The ludicrous "mastermind" of FTX and Alameda Research will pay a $10 million fine to the Securities and Exchange Commission--without admitting any guilt, nor being required to.  He'll be sentenced to five years, but he'll  appeal, and after a year or so it'll be reduced to three years.

Then that'll be appealed, and he'll end up being released after serving 15 months.

Think that's unlikely?  In that case you're either under 30 or don't pay attention to current events.  Specifically, consider what happened after the collapse of a firm called MF Global, whose chairman and CEO was a Democrat former U.S. senator and then governor of New Jersey, Jon Corzine. 

Corzine had been chief financial officer and a senior partner at Goldman Sachs before leaving in 1999.  When that firm later became a public company Corzine pocketed $400 million.

The company was heavily involved in trading "derivatives," which were    At the direction of Corzine it seems to have engaged in some risky trades that lost lots of money, and was accused of using customer money to pay its own bills.  So, a "liquidity crunch."  

Losses to investors totalled around $1.6 billion, though eventually investors reportedly recovered about 93% of their funds.

Despite testimony from employees that Corzine.personally ordered the transfer of client funds to the firm, Obama's DOJ declined to prosecute, and ended up paying a relatively small $5 million fine to the CFTC.  But it's noteworthy that Corzine settled with the CFTC without being required to admit any misconduct at all.  He wasn't even barred from future securities work.  Very nice deal.

Even though FTX founder Sam Bankman-Fried isn't a Democrat politician, he certainly gave the Dems LOTS of money, so even though the collapse of FTX and Alameda will almost certainly cost investors several billion, as opposed to the modest losses to MF Global investors, he'll be protected.

It's the Democrat way.

So, let's see what happens.

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