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It would seem that there are other failures and frauds predating Bankman-Fried, wouldn't it? While I'm told that the ideological and technical underpinnings of

It would seem that there are other failures and frauds predating Bankman-Fried, wouldn't it? While I'm told that the ideological and technical underpinnings of crypto are designed to avoid government regulation, I hope that he is prosecuted thoroughly for any crimes he may have committed. But further, I hope that this high profile Democratic donor drives Republicans in the House and Senate to support strong regulation on this burgeoning financial asset class/stateless currency (I'm still unsure of what it is). And in fact stronger regulation on the financial industry generally.

skinnymuch 4y ago
Republicans are about de-regulation. Whatever they may do for optics temporarily means nothing for their actual focus and goal. Democrats are not much better but I’m not hoping only one of the two parties is going to do legit sustained regulation against the way they actually behave in the medium and long term. Why are you only looking to the Repub party? Ilhan Omar for example doesn’t care much if Biden was given corrupt money. She’s not going to suddenly do everything centrist Biden does. Biden has more in common with your average neoliberal Repub than a progressive Democrat, who themselves are normally only center-left. > And in fact stronger regulation on the financial industry generally. Both parties and neoliberals across the board have done the opposite since Reagan has been in power. Republicans specifically are publicly about deregulation while Dems will flip how they talk but are also about de-regulation and keeping class divides. Look at the top donors on both sides. They are all non-working class. They all make more money via de-regulation and a capitalist society where the rich have more power than others. They already show their hands. They vote for the establishment to maintain their money and power.
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skinnymuch 4y ago

Republicans are about de-regulation. Whatever they may do for optics temporarily means nothing for their actual focus and goal. Democrats are not much better but I’m not hoping only one of the two parties is going to do legit sustained regulation against the way they actually behave in the medium and long term. Why are you only looking to the Repub party? Ilhan Omar for example doesn’t care much if Biden was given corrupt money. She’s not going to suddenly do everything centrist Biden does. Biden has more in common with your average neoliberal Repub than a progressive Democrat, who themselves are normally only center-left. > And in fact stronger regulation on the financial industry generally. Both parties and neoliberals across the board have done the opposite since Reagan has been in power. Republicans specifically are publicly about deregulation while Dems will flip how they talk but are also about de-regulation and keeping class divides. Look at the top donors on both sides. They are all non-working class. They all make more money via de-regulation and a capitalist society where the rich have more power than others. They already show their hands. They vote for the establishment to maintain their money and power.

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