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> Remember that corruption is defined as government interference in the free market in the form of regulation. You mean as in passing regulation drafted by SBF
by TacticalCoder 4y ago
> Remember that corruption is defined as government interference in the free market in the form of regulation.
You mean as in passing regulation drafted by SBF, the dude running the biggest crypto ponzi exposed so far, which would have allowed him to capture a hefty chunk of crypto exchanges market through regulatory capture?
The chief lobbyist of FTX was an ex-CFTC commissioner regularly meeting with the SEC and the CFTC.
Here are the very words of US Congressman:
https://twitter.com/RepTomEmmer https://twitter.com/RepTomEmmer
"Interesting. @GaryGensler runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We're looking into this."
I also read this: "Four U.S. lawmakers have accused the SEC under Chairman Gary Gensler of "regulatory hypocrisy and inconsistency."
So it looks like the "billionaire financiers" may not be the only ones to blame.
We're not just talking about "regulation interfering with the free market". We're talking about regulatory capture by the biggest fraudster since Madoff.
- snowwrestler 4y ago“Reports to my office allege” is completely meaningless. Anyone can contact a Congressional office and allege anything.
- mrguyorama 4y ago>"Four U.S. lawmakers have accused the SEC under Chairman Gary Gensler of "regulatory hypocrisy and inconsistency." Every single US politician can be rightly accused of this. It doesn't mean much in a country where you are expected to solicit literal bribes every couple of years and a job at a place you were regulating is an expectation.