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The first auction was illegal and this article should be seen as the mea culpa. The families bid the theoretical future earnings of jones instead of actual mone
by declan_roberts 2y ago
The first auction was illegal and this article should be seen as the mea culpa. The families bid the theoretical future earnings of jones instead of actual money. The trustee secretly accepted, but had to walk it back when it was exposed.
It's like bidding on a foreclosed house with $0 but beating everybody because you say you're going to rent it and pay back the bank with that money.
- teach 2y agoThe first auction was NOT illegal. The trustee was explicitly granted wide latitude in how to handle the auction, including canceling it outright. [0] [0] https://www.youtube.com/watch?v=GmDNz7irGgw&t=880 https://www.youtube.com/watch?v=GmDNz7irGgw&t=880