50/50 odds on Bankrun-Fraud’s freedom. 40/60 odds on his long-term survival.
Corzine got away with it. Will Bankrun-Fraud? Former Goldman Senior Partner Jon Corzine commingled funds at his hedge fund – MF Global – a decade ago losing $1.6 billion in customer funds (they were recovered), and got away with a slap on the wrist. Corzine should be in jail for co-mingling funds regardless of whether those funds were recovered. Today Corzine operates a N.Y. based hedge fund, HERE.
It’s a “pick’em” fight. I’m at 50/50 odds as to whether Sam Bankrun-Fraud (“SBF”), will serve jail time. Bankrun-Fraud knowingly commingled customer deposits with FTX assets/tokens among other activities (front-running), which led to the $8 billion hole in FTX’s balance sheet (below). Commingling client funds is sufficient to serve jail time if the perpetrator does not have friends in high places.
The Federal Reserve would love to see crypto go away given that crypto takes Dollars out of circulation and will eventually compete with Fedcoin.
On the other side of the crypto coin, there is the matter of Bankrun-Fraud’s donations to the Democrat Party totaling approximately $1 billion. That money will buy Bankrun-Fraud powerful friends. I see these two competing forces (Fed vs. Dems) as a 50/50 pick’em fight.
Life vs. Death? Not quite 50/50. I believe there is a greater than 50% probability that Bankrun-Fraud will hang himself a la Jeffrey Epstein. Where Epstein had lots of powerful names in his little black book (HERE), I’ve got to imagine that FTX’s customers were not all angels. There have got to be scores of criminals that lost boatloads of real money with FTX that won’t be as forgiving as Maxine Waters.
Clapping seals. Did anyone catch the applause for Bankrun-Fraud at the NY Times Dealbook Summit? If you clapped for Bankrun-Fraud you ain’t no friend o’mine. You can watch the seals clapping at the 1 hour, 13 minute, 53 second mark of the below YouTube video.