4 ms·
> If you follow the rules they shouldn’t be losing it. This is not necessarily true otherwise we wouldn't have the FDIC. You wouldn't have to sign statements a
by oooyay 3y ago
> If you follow the rules they shouldn’t be losing it.
This is not necessarily true otherwise we wouldn't have the FDIC. You wouldn't have to sign statements about the kinds of returns expected or statements about the volatility of markets.
- JumpCrisscross 3y ago> not necessarily true otherwise we wouldn't have the FDIC They, i.e. depositors, don’t lose money with FDIC insurance. > wouldn't have to sign statements about the kinds of returns expected or statements about the volatility of markets Levine is discussing “highly leveraged financial institutions” like “a bank” or “a commodities futures exchange.” (Or FTX.) SBF isn’t going to jail because his customers lost money on Bitcoin and apes. (They did.) He’s going to jail because they lost the money “deposited” with him. The analogy is bank embezzlement. Not investment losses.