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At the end of the day the FTX crew were still outsiders. They tried to buy political influence, but the type of regulatory capture that F500 companies enjoy tak
by ralph84 2y ago
At the end of the day the FTX crew were still outsiders. They tried to buy political influence, but the type of regulatory capture that F500 companies enjoy takes decades to cultivate.
- jhgvh 2y agoMost unethical executives don’t actually commit fraud. They don’t just steal the customer money and buy themselves luxury real estate. The fix guys are in trouble because they were both very corrupt and very bad at creating even the thinnest veneer of plausible deniability.
- cm2187 2y agoMIT, hedge funds, politically connected through parents. Outside of what exactly?
- dboreham 2y agoBeing over 40.
- mistrial9 2y agoyou forgot to say Stanford University -- synonymous with rule-adherence some claim?
- floor2 2y agoWell for starters, outside of the US financial regulatory system. They were operating a shadow bank and unregulated securities exchange in the Bahamas and Hong Kong. The media and regulators were willing to take a sympathetic view to all of the openly illegal banking and securities violations while times were good, but they were performing a highline act with no safety net the whole time.
- a0986373 2y agoI am fairly sure you meant highwire act.