5 ms·

> How would smaller government have helped the FTX situation rather than make things like that much more common and worse? What FTX situation? I have not given

> How would smaller government have helped the FTX situation rather than make things like that much more common and worse? What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. Now, exactly what regulations we need to prevent companies from spending customers’ money on executive homes? All regulation you need to prevent this is on the books for some hundred years.

polygamous_bat 4y ago
> What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. "Empathy is the capacity to understand or feel what another person is experiencing from within their frame of reference, that is, the capacity to place oneself in another's position." [0] [0] https://en.wikipedia.org/wiki/Empathy https://en.wikipedia.org/wiki/Empathy
- leereeves 4y ago
  How much empathy should we have for gamblers in an unregulated casino known to be filled with criminals? There are so many people in the world more deserving of empathy.
  - MikePlacid 4y ago
    Even more funny - in this case we are calling for empathy to the biggest and “smartest” investors on the planet who just do no homework before allocating huge amounts of capital. https://gsiexchange.com/a-list-of-investors-whose-money-in-ftx-is-gone-after-biggest-ever-crypto-fraud/ https://gsiexchange.com/a-list-of-investors-whose-money-in-f...
- MikePlacid 4y ago
  A List of Investors Whose Money in FTX Is Gone After Biggest Ever Crypto Fraud https://gsiexchange.com/a-list-of-investors-whose-money-in-ftx-is-gone-after-biggest-ever-crypto-fraud/ https://gsiexchange.com/a-list-of-investors-whose-money-in-f... Empathy is a two-way street. Could you please ask these biggest and “smartest” investors to have some empathy to me, so they would do their homework before allocating huge amounts of capital? Instead of asking for more of my hard-earned dollars to improve… exactly what?
kelnos 4y ago
Regulations don't mean anything if there aren't enough resources to enforce them. You're not going to get those resources with smaller government.
- MikePlacid 4y ago
  My “hard-earned engineering wisdom” says: if you can’t use the existing resources effectively, pooling more people in will make the situation worse, not better. Look at the list of the biggest FTX losers (I’ve just submitted it to the thread). These people have enough resources to police themselves effectively. I would agree to add taxpayers’ (mine) money to the picture no sooner than I see people who are allocating huge amounts of money without any homework going to jail.

polygamous_bat 4y ago

> What FTX situation? I have not given a cent to FTX, my kids have not given a cent to FTX, nobody I personally know have lost anything with FTX. More regulation (which in this case I don’t need) will cost me money spent to enable and enforce it. "Empathy is the capacity to understand or feel what another person is experiencing from within their frame of reference, that is, the capacity to place oneself in another's position." [0] [0] https://en.wikipedia.org/wiki/Empathy https://en.wikipedia.org/wiki/Empathy

leereeves 4y ago
How much empathy should we have for gamblers in an unregulated casino known to be filled with criminals? There are so many people in the world more deserving of empathy.
- MikePlacid 4y ago
  Even more funny - in this case we are calling for empathy to the biggest and “smartest” investors on the planet who just do no homework before allocating huge amounts of capital. https://gsiexchange.com/a-list-of-investors-whose-money-in-ftx-is-gone-after-biggest-ever-crypto-fraud/ https://gsiexchange.com/a-list-of-investors-whose-money-in-f...
MikePlacid 4y ago
A List of Investors Whose Money in FTX Is Gone After Biggest Ever Crypto Fraud https://gsiexchange.com/a-list-of-investors-whose-money-in-ftx-is-gone-after-biggest-ever-crypto-fraud/ https://gsiexchange.com/a-list-of-investors-whose-money-in-f... Empathy is a two-way street. Could you please ask these biggest and “smartest” investors to have some empathy to me, so they would do their homework before allocating huge amounts of capital? Instead of asking for more of my hard-earned dollars to improve… exactly what?

kelnos 4y ago

Regulations don't mean anything if there aren't enough resources to enforce them. You're not going to get those resources with smaller government.

MikePlacid 4y ago
My “hard-earned engineering wisdom” says: if you can’t use the existing resources effectively, pooling more people in will make the situation worse, not better. Look at the list of the biggest FTX losers (I’ve just submitted it to the thread). These people have enough resources to police themselves effectively. I would agree to add taxpayers’ (mine) money to the picture no sooner than I see people who are allocating huge amounts of money without any homework going to jail.