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iLearningEngines .. hindenburg did some research ILearningEngines: An AI SPAC with Artificial Partners and Artificial Revenue (2 years ago) https://news.ycombin

• dmix 7mo ago
  Federal investigations always take forever.
  • bandrami 7mo ago
    It's a real problem at this point. People still say "nobody went to jail for the GFC" even though over 200 people did in the US; it's just it took a decade and nobody actually paid attention a decade later when they went to jail.
    • lupire 7mo ago
      Fall guys. Highest Profile Individuals Convicted Kareem Serageldin (Credit Suisse): Widely recognized as the only high-level Wall Street executive to serve prison time directly related to the GFC.
      • deleted 7mo ago
        [deleted]
      • bandrami 7mo ago
        No that's still about a decade out of date. TARP jailed IIRC 30 bank CEOs, it's just the cases took until 2017 or so and the meme had already implanted itself in people's brains. DoJ got so tired of people saying this that they put a database of all their convictions up but unfortunately it got DOGEd last year. Many of the TARP convictions (the ones that involved the SEC) can still be found here, though: https://www.sec.gov/enforcement-litigation/litigation-releases https://www.sec.gov/enforcement-litigation/litigation-releas...
        • Esophagus4 7mo ago
          Very cool website. Looking through a few of those examples, holy Jesus there is a lot of fraud out there. Fun read.
          • bandrami 7mo ago
            I'm sad DOGE killed the TARP litigation database because there was some wild stuff on it
        • dpkirchner 7mo ago
          What about the fraud that led up to the GFC -- pre-TARP? I think that's what people meme about.
          • bandrami 7mo ago
            The TARP investigations jailed people for that; that was it's main purpose. Taking the funding window required an audit, and people either lied on the audit (and got busted for that) or admitted to illegal lending or valuation on it (and got busted for that)
    • dghlsakjg 7mo ago
      For a multi-trillion dollar fuckup involving an entire industry... that seems low.
      • bandrami 7mo ago
        TARP still has active IGs; if you know of criminal activity they missed you can report it to them.
      • vkou 7mo ago
        The pain was multi-trillion, but the original fraud that caused the collapse wasn't.
    • chollida1 7mo ago
      > It's a real problem at this point. People still say "nobody went to jail for the GFC" even though over 200 people did in the US; it's just it took a decade and nobody actually paid attention a decade later when they went to jail. Did over 200 people in the US go to jail for the GFC? I just tried looking and I only see 1 person in the US. Iceland had about 25.
• shoo 7mo ago
  Hindenburg Research is great. They also did the Nikola expose (that bunch of shysters who claimed to have electric truck technology where their truck couldn't even move under its own power so they filmed it rolling down a gentle slope). For anyone wanting to get into the weeds about detecting accounting fraud, the book "Financial Shenanigans" has lots of historical examples of ways company executives have cooked the books to make their public company financial statements appear more appealing to investors than they actually are.