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> “They were wired to Alameda, and…I can only speculate about what happened after that,” Mr. Bankman-Fried told the Journal. In a sane world, this would be an

> “They were wired to Alameda, and…I can only speculate about what happened after that,” Mr. Bankman-Fried told the Journal. In a sane world, this would be an obvious confession to criminal negligence and violating his fiduciary duty. SBF paints this as one big stupid mistake, yet reporting from other sources paints a compelling argument that the chaotic structure and lack of oversight was a deliberate construction. It's highly suspect for a company, let alone a finance company, to not have a CFO. Are we really supposed to believe that he was so busy he wasn't apprised of what was going on with both of his companies, even though he had plenty of time to funnel hundreds of millions into political donations and luxury properties?

breput 4y ago
His uh...(ex) intimate partner[0][1]...was running Alameda. This guy is dumber than a bag of hammers, but he might be smart or vengeful enough to try to shift some blame upon Caroline Ellison. [0] https://beincrypto.com/bizarre-fairy-tale-story-sam-bankman-fried-caroline-ellison/ https://beincrypto.com/bizarre-fairy-tale-story-sam-bankman-... [1] https://nymag.com/intelligencer/2022/12/sam-bankman-fried-may-regret-his-comment-on-caroline-ellison.html https://nymag.com/intelligencer/2022/12/sam-bankman-fried-ma...
- SanjayMehta 4y ago
  There's an absolutely fascinating short clip off reddit featuring this lady: https://www.reddit.com/r/Wallstreetsilver/comments/ysakai/caroline_ellison_28_year_old_ceo_alameda_research/ https://www.reddit.com/r/Wallstreetsilver/comments/ysakai/ca... The way she says "stop losses" makes me think she really has no idea what she was doing.
- andirk 4y ago
  I've been thinking the blame handoff to her is his only way out. And as far as we currently know, she may have been heavily involved or even in charge of these shenanigans. Since their beginnings were down the street from my house, I also keep wondering if I've met them. But then I remember that they're squares who can barely down a beer in favour of pharma pills.
raverbashing 4y ago
Yeah. This is not an answer that I would accept for stuff that involves way less money or responsibility "I can only guess", sounds like a 17yo that never had to buy his own toilet paper. Ah no but he can play videogames while in a meeting, he's an investment genius somehow /s
- vba616 4y ago
  >"I can only guess", sounds like a 17yo that never had to buy his own toilet paper Some people, and I was one of them, who weren't paying much attention, read that he had worked for Jane Street, and said to themselves, "ah, he must be a relatively mature adult, unlike the other crypto bros". But in hindsight, it seems that his role there did not prepare him for running a multibillion dollar business and why should it have? Working for a big company means you in fact don't have to buy toilet paper (for the office). And if you aren't particularly mature or self-aware, you might take it for granted. From "Money Stuff": "If, later, you leave to start your own firm...you certainly won’t take its risk-management systems. And then when your colleagues say to you “hey, let’s set up some risk systems and hire an accountant, like we had at Jane Street,” you can reply “nah, I’d prefer to ignore that stuff, like I did at Jane Street.” You’re both right! Someone else at Jane Street set up those systems so you didn’t have to worry about them. But now you’re in charge, and if you don’t worry about them no one will, and then you end up not knowing how much money you have, or how much you’re making or losing, or how much you owe your customers."

breput 4y ago

His uh...(ex) intimate partner[0][1]...was running Alameda. This guy is dumber than a bag of hammers, but he might be smart or vengeful enough to try to shift some blame upon Caroline Ellison. [0] https://beincrypto.com/bizarre-fairy-tale-story-sam-bankman-fried-caroline-ellison/ https://beincrypto.com/bizarre-fairy-tale-story-sam-bankman-... [1] https://nymag.com/intelligencer/2022/12/sam-bankman-fried-may-regret-his-comment-on-caroline-ellison.html https://nymag.com/intelligencer/2022/12/sam-bankman-fried-ma...

SanjayMehta 4y ago
There's an absolutely fascinating short clip off reddit featuring this lady: https://www.reddit.com/r/Wallstreetsilver/comments/ysakai/caroline_ellison_28_year_old_ceo_alameda_research/ https://www.reddit.com/r/Wallstreetsilver/comments/ysakai/ca... The way she says "stop losses" makes me think she really has no idea what she was doing.
andirk 4y ago
I've been thinking the blame handoff to her is his only way out. And as far as we currently know, she may have been heavily involved or even in charge of these shenanigans. Since their beginnings were down the street from my house, I also keep wondering if I've met them. But then I remember that they're squares who can barely down a beer in favour of pharma pills.

raverbashing 4y ago

Yeah. This is not an answer that I would accept for stuff that involves way less money or responsibility "I can only guess", sounds like a 17yo that never had to buy his own toilet paper. Ah no but he can play videogames while in a meeting, he's an investment genius somehow /s

vba616 4y ago
>"I can only guess", sounds like a 17yo that never had to buy his own toilet paper Some people, and I was one of them, who weren't paying much attention, read that he had worked for Jane Street, and said to themselves, "ah, he must be a relatively mature adult, unlike the other crypto bros". But in hindsight, it seems that his role there did not prepare him for running a multibillion dollar business and why should it have? Working for a big company means you in fact don't have to buy toilet paper (for the office). And if you aren't particularly mature or self-aware, you might take it for granted. From "Money Stuff": "If, later, you leave to start your own firm...you certainly won’t take its risk-management systems. And then when your colleagues say to you “hey, let’s set up some risk systems and hire an accountant, like we had at Jane Street,” you can reply “nah, I’d prefer to ignore that stuff, like I did at Jane Street.” You’re both right! Someone else at Jane Street set up those systems so you didn’t have to worry about them. But now you’re in charge, and if you don’t worry about them no one will, and then you end up not knowing how much money you have, or how much you’re making or losing, or how much you owe your customers."