WHERE THERE'S A DEM POL, THERE IS A BRIBES SUCKER
FREQUENTLY SIPHONING OFF BRIBES TO
FAMILYMEMBERS AS 'CONSULTANT FEES'.
maxine waters: as corrupt as they come!
Oh crap... We can't let them find the truth!!
THINK BANKSTERS' RENT GIRL MAXINE WATERS!
Judicial Watch investigated the scandal and obtained documents from the U.S. Treasury related to the controversial bailout. The famously remiss House Ethics Committee, which is charged with investigating and punishing corrupt lawmakers like Waters, found that she committed no wrongdoing. The panel bought Waters’ absurd story that she allocated the money as part of her longtime work to promote opportunity for minority-owned businesses and lending in underserved communities even though her husband’s bank was located thousands of miles away from the south Los Angeles neighborhoods she represents in Congress.
Everybody wins when Maxine sells her
endorsement, Maxine's family with cash, and
others with cash turned into newfound power.
The only losers are the voters, who get these
misleading junk mail flyers in their mail and
vote on arguably false premises.
Sam Bankman-Fried: Why isn't that guy in jail?
Democrat mega-donor Sam Bankman-Fried, whose cryptocurrency platform FTX just collapsed in a hail of fraud allegations, pretty well walks around free to do what he pleases, out in the palmy Bahamas.
That raises questions as to what is going on here, why that guy isn't, like Bernie Madoff or the assorted Enron characters, in jail for his misappropriation of customer funds from his cryptocurrency exchange, FTX, through a secret "back-door," to his Alameda Research hedge fund, run by his kinky-weird ex-girlfriend, Caroline Ellison.
FTX did, after all, insist to its cryptocurrency platform customers that it would never use their deposits for speculative trading purposes.
According to Coindesk, an industry publication of the cryptocurrency and related fields:
...FTX and other crypto exchanges are not banks. They do not (or should not) do bank-style lending, so even a very acute surge of withdrawals should not create a liquidity strain. FTX had specifically promised customers it would never lend out or otherwise use the crypto they entrusted to the exchange.
Well, it did.
The kinds of crimes now alleged about the now-bankrupt firm include secretly spiriting customer funds to Alameda for trading purposes, use of FTX assets as collateral so that Alameda could borrow and risk even more on its own behalf, immense personal loans to FTX executives which likely signaled criminal intent-- with Coindesk calling this one a biggie:
The FTX situation has more smoking guns than a shooting range in Texas, but you might call this one the smoking bazooka – a glaringly obvious sign of criminal intent. It’s still unclear how the bulk of those personal loans were used, but clawing the expenditures back will likely be a major task for liquidators.
...bailing out other troubled cryptocurrency exchanges with FTX exchange money, drawing praise as a sort of J.P. Morgan protector of the crypto industry, and the purchase of a tiny U.S. bank in Washington state, which Coindesk compared to the activities of the beyond-filthy Pakistani Bank of Credit & Commerce International's activities, which also attempted to buy itself a U.S. bank, in its case for money-laundering purposes.
All this, while claiming he had no idea what was going on at his company, and drawing lots of fawning press as a result of his help to his leftist charities and Democrats. Coindesk lays out some of the grosser ones:
It is now clear that what happened at the FTX crypto exchange and the hedge fund Alameda Research involved a variety of conscious and intentional fraud intended to steal money from both users and investors. That’s why a recent New York Times interview was widely derided for seeming to frame FTX’s collapse as the result of mismanagement rather than malfeasance. A Wall Street Journal article bemoaned the loss of charitable donations from FTX, arguably propping up Bankman-Fried’s strategic philanthropic pose. Vox co-founder Matthew Yglesias, court chronicler of the neoliberal status quo, seemed to whitewash his own entanglements by crediting Bankman-Fried’s money with helping Democrats in the 2020 elections – sidestepping the likelihood that the money was effectively embezzled.
The guy keeps getting good press despite his misuse of customer funds, which he ending up losing $10 billion of, spoonfeeding to the still-fawning media that he "made mistakes." Notice that Vox is happy to excuse him because he donated to Democrats, and the WSJ seems to be more concerned about these leftist charities, which promoted hideous ideas like "ranked choice voting," than they are about the people who lost their life savings. Some of the leftist press itelf, including vox, was funded by Bankman-Fried, and now is out of its promised grants from him and not happy about it.
That may be some kind of means of warding prosecutors off, the oodles of good press, which makes prosecutors look like bad guys if they go after him.
Prosecutors actually have bigger problems, though, in that in previous cases, such as that of Madoff, the bad guys admitted their culpability and provided their receipts. Bankman-Fried isn't doing that even as everything he says sets off bee-ess meters, as Jim Geraghty notes in his piece in National Review. Ankush Khardori, a former federal prosecutor, wrote a good, knowledgeable piece about the problems they are having on just legal issues in putting this guy away.
What does an investigation of an international financial fraud like this look like? To simplify matters greatly, the government is going to be looking for three things — documents, witnesses, and data — to determine whether SBF or those around him committed fraud. Let’s take these in turn.
He then goes into the problems with all of those matters, in documentations, witnesses, and data, plus the fact that the FTX entity and Alameda Research, are both based in the Bahamas, meaning, outside the U.S. regulatory framework, though they can still bring prosecutions based on U.S. customer losses. Emails may be on foreign servers, Google and other U.S. big tech companies may not be involved in those emails, the emails may have been deleted, the ledgers themselves may be inaccurate, and a lot of people inside the company didn't know what was going on, which will make the investigation take a lot of time.
Other thorny investigations, such as that of Elizabeth Holmes, took years, and this one could, too.
But letting this guy walk around free is problematic, too, because he is busy getting himself good press to turn that bad narrative about himself around so that the prosecutor don't dare act against him and the length of the investigation gives him time to do it.
What we may see is him donating even harder to Democrats than he already has (to the tune of $40 million) perhaps now through shell corporations to keep the lawmen at bay while the fawning press will continue to serve as his apologists. The press, as one commentator noted, devotes more time to 'exposing' Elon Musk, who spends his own money, than it does to SBF, who spends other people's money and loses it. We saw a lot of that going on with the Jeffrey Epstein case -- the knowledge that he had stuff on many prominent Democrats and others seems to have bought some kind of political protection and kept prosecutors at bay, for a time at least, with the Caribbean ensconcement another useful layer.
It goes to show the toxic influence of these donations to Democrats, and some Republicans, too, although those seem to have been done through an ignorant, unwitting, lieutenant. Bankman-Fried was the Democrats' second-largest donor, and all that he did seems to have been done on stolen money. The Democrats who took this money should be forced to make whole the defrauded investors since misappropriated money hardly becomes the property of the person who takes it.
But that might be too much at this stage. What's important now is that Bankman-Fried not be allowed to prop up any more Democrats or their odious wokester causes.
Image: Screen shot from YouTube video posted by Cointelegraph, via Wikimedia Commons // CC BY-SA 3.0
Bankrupt cryptocurrency firm FTX, whose former CEO Sam Bankman Fried spent nearly $40 million to help Democrats in this year's midterm elections, now owes its creditors at least $3 billion.
Judicial Watch investigated the scandal and obtained documents from the U.S. Treasury related to the controversial bailout. The famously remiss House Ethics Committee, which is charged with investigating and punishing corrupt lawmakers like Waters, found that she committed no wrongdoing. The panel bought Waters’ absurd story that she allocated the money as part of her longtime work to promote opportunity for minority-owned businesses and lending in underserved communities even though her husband’s bank was located thousands of miles away from the south Los Angeles neighborhoods she represents in Congress.
CRYPTO - Was FTX Simply a Fraudulent Criminal Scam? $10BN Customer Funds & $2BN Investor Money Lost
MAXINE WATERS IN BED WITH SAM.... JUST FOLLOW THE MONEY!
FTX Disaster - 7 Unbelievable Bankruptcy Discoveries
The 30-year-old entrepreneur donated $5 million to a super PAC that supported President Joe Biden in 2020 and $40 million this cycle, largely to Democrats. He contributed $6 million to the House Majority PAC, $1 million to the Senate Majority PAC, and nearly $900,000 to the Democratic National Committee.
Everybody wins when Maxine sells her endorsement, Maxine's
family with cash, and others with cash turned into newfound
power. The only losers are the voters, who get these
misleading junk mail flyers in their mail and vote on arguably
false premises.
What a racket this is for people like Waters. Still no sign of any
legislation to stop this practice. MONICA SHOWALTER
BELOW IS THE IMAGE OF BANKSTERS' RENT GIRL MAXINE. HARDLY SUPRISING HER HUSBAND IS A BANKSTER!
Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him
House Financial Services Committee chair Maxine Waters has dodged questions about crypto titan's donations
Sam Bankman-Fried Aimed to Outpace George Soros as Largest Democrat Donor
2:21 Disgraced former FTX CEO Sam Bankman-Fried tried to build a political empire to rival Democrat megadonor George Soros.
Puck News reporter Theodore Schleifer wrote that Bankman-Fried personally bought a Democrat startup, Deck, spending roughly $4 to $5 million to buy out the existing investors to the Democrat analytics firm. Bankman-Fried reportedly heard about the startup from Mind the Gap, a Democrat donor network founded by his mother, Barbara Bankman-Fried.
The purchase of Deck served as Bankman-Fried’s political scheme to be the “biggest donor in the Democratic Party,” even outshining Democrat megadonor.
Bankman-Fried and Ryan Salame, co-CEO of FTX Digital Markets, served as two of the largest donors to Republicans and Democrats last cycle. Bankman-Fried fell just below Soros as the largest Democrat donor.
In all, Bankman-Fried donated roughly $40 million to Democrat politicians and PACs, while Salame gave about $23 million to Republicans and PACs supporting the GOP.
Puck News wrote that the former FTX CEO sought advisers and conducted data experiments to help Democrats in the 2024 election cycle:
I have previously reported that S.B.F.’s team was actively looking for future advisors to join them in drafting “plays” for the 2024 cycle, and that one of those ideas was to fund some more progressive organizations, for instance. Some of those plans were already underway. I have learned in recent days that S.B.F. was already quietly funding some experiments across the Democratic ecosystem, such as randomized-controlled trials that might have yielded data that could help Democrats in 2024, according to two people familiar with the work, by assessing the impact of things like community newsletters, Facebook ads, and so-called “relational organizing.”
In all, the report suggested that Bankman-Fried might have spent roughly $100 million, but according to Schleifer, “That could be an undercount.”
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
Washington Free Beacon Staff • November 21, 2022 1:32 pmDisgraced former FTX CEO Sam Bankman-Fried tried to build a political empire to rival Democrat megadonor George Soros.
Puck News reporter Theodore Schleifer wrote that Bankman-Fried personally bought a Democrat startup, Deck, spending roughly $4 to $5 million to buy out the existing investors to the Democrat analytics firm. Bankman-Fried reportedly heard about the startup from Mind the Gap, a Democrat donor network founded by his mother, Barbara Bankman-Fried.
The purchase of Deck served as Bankman-Fried’s political scheme to be the “biggest donor in the Democratic Party,” even outshining Democrat megadonor.
Bankman-Fried and Ryan Salame, co-CEO of FTX Digital Markets, served as two of the largest donors to Republicans and Democrats last cycle. Bankman-Fried fell just below Soros as the largest Democrat donor.
In all, Bankman-Fried donated roughly $40 million to Democrat politicians and PACs, while Salame gave about $23 million to Republicans and PACs supporting the GOP.
Puck News wrote that the former FTX CEO sought advisers and conducted data experiments to help Democrats in the 2024 election cycle:
I have previously reported that S.B.F.’s team was actively looking for future advisors to join them in drafting “plays” for the 2024 cycle, and that one of those ideas was to fund some more progressive organizations, for instance. Some of those plans were already underway. I have learned in recent days that S.B.F. was already quietly funding some experiments across the Democratic ecosystem, such as randomized-controlled trials that might have yielded data that could help Democrats in 2024, according to two people familiar with the work, by assessing the impact of things like community newsletters, Facebook ads, and so-called “relational organizing.”
In all, the report suggested that Bankman-Fried might have spent roughly $100 million, but according to Schleifer, “That could be an undercount.”
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
Bankrupt cryptocurrency firm FTX, whose former CEO Sam Bankman Fried spent nearly $40 million to help Democrats in this year's midterm elections, now owes its creditors at least $3 billion.
The firm, which was once valued at $32 billion, filed for bankruptcy on Nov. 11, leaving a total of $3.1 billion owed to its top 50 creditors, the Washington Post reports:
The revelations, which came in a filing to U.S. Bankruptcy Court in Delaware late Saturday, offer a striking portrait of the sheer number of entities that had considerably invested in, lent money to, or otherwise engaged with a three-year-old company that had done little to demonstrate it could properly safeguard the assets entrusted to it. Its top 50 creditors are owed a total of $3.1 billion, the filing showed, with the largest due $226 million.
The names of the creditors were redacted. […]
In a separate filing Saturday, new FTX chief executive John J. Ray said the company will seek sales and other forms of capitalization to ensure that as many creditors as possible get their money. He noted that some of the subsidiaries of FTX "have solvent balance sheets, responsible management, and valuable franchises," which could facilitate that process. Some 130 FTX sister companies are part of the bankruptcy filing.
Cofounder and former CEO Sam Bankman-Fried, who resigned when FTX filed for bankruptcy, and other FTX executives gave a total of $300,351 to nine members of the House Financial Services Committee. The largest donations went to Democrats working on regulating the crypto industry, the Washington Free Beacon found. Earlier this year, Bankman-Fried pledged $1 billion to Democratic campaigns in the 2022 midterm election. Now the crypto scion has lost all of his $16 billion net worth.
In the court filing, FTX listed one million potential creditors. Ray said the company is seeking sales and other forms of capitalization to ensure that its creditors get their money, but the process may prove difficult as Ray found serious inadequacies in FTX's record-keeping.
"The main companies in the Alameda Silo and the Ventures Silo did not keep complete books and records of their investments and activities," Ray wrote in the filing, referring to some of Bankman-Fried's entities. He added, "One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making."
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