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> A minimal amount of due diligence Exactly what due dilligence would have saved them? What numbers could they have looked at? How could they guard against th
by danuker 4y ago
> A minimal amount of due diligence
Exactly what due dilligence would have saved them?
What numbers could they have looked at? How could they guard against those numbers being lies (cooked/parallel books)?
- klelatti 4y agoI'd usually have some sympathy with this perspective but there were so many red flags with FTX that there should be no excuse. Just because sophisticated fraud can sometimes be hard to detect doesn't give you a free pass for problems that are easy to spot.
- bmitc 4y ago> What numbers could they have looked at? How could they guard against those numbers being lies (cooked/parallel books)? That was part of the problem. The red flag should have been the fact that there were no numbers or books. Neither FTX nor Alameda even had a CFO.