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The court is not a creditor and your credit worthiness (thankfully for most folks) does not apply in court. The court is taking the promise of property (defined

by kodah 4y ago

The court is not a creditor and your credit worthiness (thankfully for most folks) does not apply in court. The court is taking the promise of property (defined widely) should Sam fail to appear. This system, if the value is high enough, will keep him in the country to face justice. Phrased another way, we're about to find out if SBF is morally bankrupt enough to take away a huge portion of his parents assets as well.

blitzar 4y ago
> Phrased another way, we're about to find out if SBF is morally bankrupt enough to take away a huge portion of his parents assets as well. huge portion being +/-10x their net worth and a debt that can not be discharged through bankrupcy.
alasdair_ 4y ago
>Phrased another way, we're about to find out if SBF is morally bankrupt enough to take away a huge portion of his parents assets as well. If he has hundreds of millions hidden away, he could easily ensure that his parents get some of it later to compensate them. That said, I don't think he will run. His parents are both Stanford law professors and he has an insane number of connectionsand people that owe him favors. I think he will go to court and put up a very strong defense and end up with around ten years in jail at the end of it all.
moralestapia 4y ago
>The court is not a creditor Never said it was and the whole point of this is not whether they put some collateral or not. The whole point is, how come a 250M bail can be secured with a 4M house? That is the whole thing that is driving everyone nuts. Divide by a thousand and you may be able to get a better graps of it. Imagine you have a bail set for 250k and you tell the judge, well I have this really shitty used car which (may be) worth 4k, you can keep it, but also you can't take it from me now because well, it's my car :). You would stay in jail.
- kodah 4y ago
  $4K is a little different than $4M. I don't think "everyone" is going nuts over this. Just some subset of people. It doesn't really look any different than normal bail. Maybe this is many people's first exposure to the concept of bail though. Bail is also not just a dollar amount, it's about convincing the judge you've put forward enough to motivate you to stay.

by kodah 4y ago

blitzar 4y ago

> Phrased another way, we're about to find out if SBF is morally bankrupt enough to take away a huge portion of his parents assets as well. huge portion being +/-10x their net worth and a debt that can not be discharged through bankrupcy.

alasdair_ 4y ago

>Phrased another way, we're about to find out if SBF is morally bankrupt enough to take away a huge portion of his parents assets as well. If he has hundreds of millions hidden away, he could easily ensure that his parents get some of it later to compensate them. That said, I don't think he will run. His parents are both Stanford law professors and he has an insane number of connectionsand people that owe him favors. I think he will go to court and put up a very strong defense and end up with around ten years in jail at the end of it all.

moralestapia 4y ago

>The court is not a creditor Never said it was and the whole point of this is not whether they put some collateral or not. The whole point is, how come a 250M bail can be secured with a 4M house? That is the whole thing that is driving everyone nuts. Divide by a thousand and you may be able to get a better graps of it. Imagine you have a bail set for 250k and you tell the judge, well I have this really shitty used car which (may be) worth 4k, you can keep it, but also you can't take it from me now because well, it's my car :). You would stay in jail.

kodah 4y ago
$4K is a little different than $4M. I don't think "everyone" is going nuts over this. Just some subset of people. It doesn't really look any different than normal bail. Maybe this is many people's first exposure to the concept of bail though. Bail is also not just a dollar amount, it's about convincing the judge you've put forward enough to motivate you to stay.