The Downfall Of A Crypto Megadonor
Link to quote: Progressive FTX founder Sam Bankman-Fried admits ethical image an act: 'Dumb game we woke westerners play' | Fox News
Most people have never heard of FTX. It was a cryptocurrency exchange that flew beneath everyone's radar. Its CEO was a 30-year-old named Sam Bankman-Fried. He was childlike in almost every way. His company kept no books, and its executives were friends who frequently partied and had sex together. Some thought that Fried was "charismatic." Take a look at him:
Let's face it, that doesn't look like a professional anything. Yet people gave him $ millions to invest. How did he fool them? It appears that he used wokeness & altruism. He convinced everyone that he was a do-gooder who donated to charities and democrat campaigns as he called for regulation of a currency based on nothing. His chief executive Caroline Ellison admitted that she had no idea what she was doing. ("We don't do math here.") After stealing from his own investors and helping to buy the Senate for the democrats, Fried is now crying out for help from investors as the US seeks to extradite him from the Bahamas. He was the democrats second biggest donor, right behind George Soros. This story broke right after the midterm election. Will he be held accountable?
The Week:
The new sheriff in town : Republicans finally took control of the House late in the week. Now the legislative portion of the Biden agenda will finally come to an end. Republicans control the purse and have subpoena power in the coming investigations.
Hunter Hunted: The Committee charged with investigating Hunter Biden and Joe Biden made an announcement promising to get the facts to the people. After years of investigating the former President, the radical left seems outraged that anyone would investigate Joe Biden.
Amnesty for All: Senator Chuck Schumer is now calling for amnesty for all the illegal migrants living in the US. That could be as many as 35 million people. Of course, it has zero chance of happening. Chuck is playing identity politics. Schumer cited a declining work force. We all know how much democrats like cheap labor as we still remember slavery.
Missile Strike in Poland: Evidently there is some debate about who's missile landed in Poland killing two people. The leader of Poland and the US Pentagon seem to think it might have been a Ukrainian defensive missile. Ukraine's leader, Volodymyr Zelensky insists that it is a Russian missile.
Biden's worthless meeting with Xi . Joe Biden met with China's leader for 3 hours and failed to mention the source of the pandemic, the fentanyl coming over the southern border, which kills about 200 Americans per day, North Korea or intellectual properties. He did manage to convince Xi that nothing is changed on the US one-China policy.
"A 22-year-old man intentionally drove into a group of 75 California police recruits on a training run Wednesday morning in Whittier, sending 25 of them to area hospitals, investigators say. Los Angeles County Sheriff’Alex Villanueva said that Nicholas Joseph Gutierrez was driving an SUV on the wrong side of the road and abruptly swerved into the cadets. The Los Angeles Fire Department said five recruits were in critical condition, four suffered “moderate” injuries, and 14 had minor injuries."
Border Testimony: This week Senators questioned Alejandro Mayorkas and FBI Director Wray. Mayorkas called the border a significant challenge after claiming that it was "secure." Director Wray confirmed that 70% of domestic attacks were against pro-life organizations.
Elon Musk got tough with Twitter employees , demanding that they work from the office and do a full day's work.
Fed officials suggest that substantial rate increases on the way.
What Have We Learned:
This week we learned a lot about the real enemies of America. Most notable was the passing of the gavel by Nancy Pelosi. MSNBC didn't bother covering Kevin McCarthy and his new Chairmen when they took time to announce what they planned to do in January. They did devote a lot of time to the Pelosi announcement that although she was staying on, she was giving up her speaker's job. One of the morons over there called it a "classy move." He went on to say: "that if it wasn't for Nancy Pelosi, we wouldn't have had Obamacare." I remember that. Do the rest of you? In classic Pelosi fashion, Pelosi demanded that every democrat House member vote for Obamacare, because that's what it was going to take. We'll they got Obamacare but paid the ultimate price in 2010 when 60 of them got voted out of office. Another consequence from that vote was the birth of the Tea Party, which Obama's IRS decimated a few years later.
Eventually, Pelosi was known for the insider trade deals that made her and her degenerate husband wealthy. She was one of the worst of the Trump haters, who broke with all the norms and traditions of the House of Representatives in order to mock & defy him. There will always be an asterisk by the two faux impeachments that Pelosi concocted for Trump. Pelosi is most likely behind the two recent coverups involving her husband. The leftist media obliged her and is all too willing to smear those who try to find out what really happened. Pelosi is an example of why it's so hard to beat ideologues. They put their ideology over everything & everybody and they use whatever power they have to control people. At least Pelosi's vice-like grip on House democrats is over.
Cartoon of the Week:
Honorable Mention:
James Comer
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"In a matter of days, Sam Bankman-Fried has gone from crypto hero to villain.
His billion-dollar fortune has collapsed. He is facing Justice Department and Securities and Exchange Commission investigations . His firm, FTX, is bankrupt , and with it many hopes for the future of crypto itself.
An outwardly genial 30-year-old commonly referred to as SBF, Mr. Bankman-Fried was until this week the industry’s leading champion . His firm’s finances were opaque, but he seemed to be an open book on Twitter and in scores of media interviews."
P.T.Barnum is reputed to have said something famous, although it has been refuted, but these days it would be more realistic if the word "minute" were changed to "second".
I haven't a clue what cryptocurrency or bitcoins are or how they work and I don't care. As well my $60 cellphone doesn't have the ability to use those weird squares with the scrambled eggs image and I have no idea how to use them anyway. There's lots of talk these days about digitizing the economy or money or something and I don't understand any of it. I don't have a credit card but I do have a debit card and it can only draw the money that I have in my account. My father used to say that if you don't have the cash in your pocket to pay for something, you can't afford to buy it, and that's the way I live. I pay with cash and I don't invest in anything, so I may not make extra money, but I sure as hell don't lose any like the fools who invested in FTX.
Oh, and Pelosi should move to Taiwan - they probably love her there.
They are not backed by any government and are generally used in transactions to avoid transparency. Only governments can create dependable currency.
Oh, and Pelosi should move to Taiwan
I agree!
Oh the horror!!!!
And people don't think Obama used his new weapon to check out the taxes of an opponent during a campaign.
Oh come on now. Next thing you will be saying the DOJ and FBI have been weaponized by the Democrats against their political opponents. Better watch it or you will be reported to the FBI and tied to Jan 6th. Even if you never attended the event; just the mention of that the government isn't on the straight and narrow will get you charged.
"I’m proud of Senators Thune, Barrasso, Ernst, Capito, and Daines, who were elected to take on critical responsibilities in our Republican Conference. It is the honor of a lifetime to serve alongside my distinguished colleagues as Senate Republican Leader.".... Mitch McConnell
When will McConnell go away?
He is almost as bad as the Democrats.
It seems that as long as his mind is sharp, he will remain in the US Senate.
He is almost as bad as the Democrats.
There are two sides to that coin. He represents the Conservative side of the Republican Party. He is also totally dedicated to preserving the US Senate's tradition of being the more deliberative body in Congress, as well as it's more moderate temperament.
On the other hand he did direct funding for candidates in a way that many will question.
He called this election accurately as well. Some don't like to hear the truth.
Rick Scott headed up the gop's Senate campaign committee. He is who blew it.
He does tend to be cool-headed when it comes to analyzing elections.
No Trump blew it:
I believe he lost that job.
And Lake?
I only listed Senate losses.
Loser.
I know.
She was MAGA's biggest loss.
She still is going to stay on. She just won't be minority leader.
You know I meant Kari Lake, you know, the one who lost, and won't concede, like her hero
McConnell withheld funding for GOP candidates that he had publicly described as poor (incompetent buffoons) candidates. Did you expect him to give money to people he thought did not belong in the Senate?
Um-hum
the one who lost
Sadly
and won't concede, like her hero
Has she hired lawyers?
I do expect him to stay out of Republican primaries. That money should be reserved for general elections.
Lisa Murkowski is a sure vote for McConnell to be leader but she is always a questionable vote for the GOP agenda!
Has it occurred to you that a few Lincoln Project GOP members of Congress can now stop the gop's radical vindictive agenda?
No.
"Police body camera video that captured the attack on Paul Pelosi, and the moments leading up to it, contradict one of the details included in the Department of Justice's account of what happened that evening, according to a source familiar with the Pelosi investigation who personally viewed the body camera footage and spoke to the NBC Bay Area Investigative Unit."
So are you still claiming (pretending - alluding to the conspiracy) that this was an attack by a gay lover?
Show me where I ever made that claim?
What do you have against the people getting the facts?
Which facts? Yours or the truth?
The fact that it was Paul Pelosi who opened that door.
Yours or the truth?
The truth that the media and the SFPD is hiding from us.
No one is hiding anything from anyone. Don't buy into the conspiracy theories. Not a good look.
What is a terrible look is you not being able to say who opened the door.
The basics of the account are confirmed.
Casting shade on the victim is a big loser!
Pelosi's head got split by a MAGA nutter...
We can't even get people to admit to one of the few facts that were released.
Who opened the door?
Did you watch the tv station video? It doesnt take the conspiratorial tone that you do.
Stop your spin. I want transparency and they are hiding the facts of this incident.
Who opened the door John?
The spin is not from John. [Deleted]
He is defending a coverup
Then why report on it at all if it's a nothing burger?
FTX is one of the more crazy stories I’ve ever seen. Bigger fraud than Madoff. His “business” lacked the controls of a 5 years olds lemonade stand but he became one of the most influential people in the world because he mouthed the correct platitudes about social justice and gave money to democrats.
he was supposed to be feted at a conference hosted by the New York Times with zelensky and Janet yellen next week. Whoops.
You said it much better than I did.
The guy who cleaned up Enron and is in charge of figuring out what happened to FTX really captures how out of control it was:
I see a government job in his future.
It was a case of children operating an unsupervised, unregulated exchange which was easily manipulated. The immature Sam Bankman-Fried at least knew who to brush up to. I guess Dr Fauci set the example.
"Pelosi ignores Trump in leadership farewell speech, mentioning Bush, Obama, Biden."
Bitter to the end!
Nancy heard you declared Trump off topic!
You deleted me for even mentioning him...
Nancy is not bitter at all. Why endorse a turd?
Angry, nasty, no-class Pelosi!
Nah, that's #45
Yah, that's her!
She wasnt listing the presidents, she was talking about the ones she had worked with to get things done for America. Dont be as thin skinned as Trump is.
Lol!
Point remains. She left out Trump. That she didn't like him and his methods is immaterial. He got things done without the queen's blessing.
He didn't get dick done for anyone but himself.
You can have whatever point you can dream up. Pelosi specifically mentioned presidents she worked with.
Did she and Trump "work together"? or were they at odds?
This "discussion" is so stupid I am amazed it exists.
"It begins.". .... Chairman Jim Jordan
That is one of the most stupid and ironically dishonest paragraphs I have ever seen on NT. Someone needs counseling.
Oh, I see. I take it that you don't like the characterization?
If you dont see the irony in YOU decrying someone putting ideology above all else you are hopeless.
There is no irony. I openly admit that I am also an ideologue and a true patriot.
Exactly, Nancy and Paul are just exceptional stock pickers and are able to outperform the market, with both buying and selling.
Is Bob Brinker still around? Maybe they could take his place?
Doesn't even come close to the misinformation you post.
Somehow I knew he was going to say that.
The next House Minority Leader in the 118th Congress:
Like Chuck Schumer, Jeffries grew up in Brooklyn.
Jeffries grew up in Brooklyn.
Perfectly fitting that Democrats will nominate an election denier to lead them.
Good point. So election denying couldn't have been what determined the outcome of the midterms?
Or was the media's propaganda simply that potent?
Impeached
"The Pennsylvania House of Representatives voted on Wednesday to impeach controversial Philadelphia District Attorney Larry Krasner (D-PA).
Five lawmakers, including three Republicans and two Democrats with constituencies in Philadelphia, formed a committee to investigate Krasner earlier this year. Members of the lower chamber voted by a margin of 107 to 85 in favor of impeaching Krasner, enabling the Pennsylvania Senate to remove the official with a two-thirds majority.