While the New York Times et al offer puffery on Sam Bankman-Fried and the FTX collapse, expert outsiders sift through the wreckage and get to the truth; this is Twitter and Substack at their best
Every article about this fiasco should have as a headline some form of “Top Biden Donor Escapes Authorities After Stealing Hundreds of Millions of Dollars,” but of course that hasn’t been the case at all. And in all likelihood, nothing will come of this because of who he was giving money to—the same reason his dealings weren’t under more scrutiny in the first place.
If election fraud existed, it could be described like this.
“Frauds depend on opaque accounting, accounting that no one from the outside can challenge or in some cases even understand. Complexity is the grifter’s friend.”
Alex - Please don't forget Ukraine/Zelenksy's role in this money laundering operation. They were the middleman who funneled our tax dollars to FTX, so Bankman-Fried could send it to Uncle Joe and the Dems so they could keep the senate.
As a friend and colleague who worked at both the NYT and 60 Minutes told me a few months back, journalists are now "activists first, journalists second." Heaven help us!
Alex, let's talk about your tweet yesterday regarding never voting for Trump. I too hope we have a different option, but when you say you will vote for the Democrat you are saying you would vote for Biden over Trump. Bless your heart, but if it wasn't for you and a couple other people we would all be locked in our homes and only let out to get our 5th booster shot if Biden and Democrats had their way. So now you want that future? I find your stance incompatible with reality.
YES! Great article! It's no surprise that there's no real look into FTX because of who's behind the curtain -- just like there was never a great reckoning for four years of RUSSIA RUSSIA RUSSIA nonsense from the presstitutes. Just like there was never a great reckoning for the deliberate sabotage of the Hunter laptop -- the easiest story in the world to verify if they wanted to do it.
But as I say, journalism is an ACTION, not (just) a profession. The people here on the 'Stack are doing more journalism than the entire MSM combined.
The Bahamas location and the relatively small auditing firm should have set off red flags for anyone with any financial savvy. Prager Metis, the auditor of FTX, is slightly larger than my employer. We audit small and mid-sized clients--nobody with billions in assets. And the Bahamas: a sunny place for shady people.
Expecting journalists to report facts about people they run around with or who line their pockets, is like expecting a 3 year old to snitch on the Cookie Monster for stealing them cookies.
The demise of the NYT is a national tragedy. There are many reasons, starting with the family-ownership model, which works as long as the heir turns out to be competent. And AG ain't.
But a couple other things might be mentioned:
1. The NYT was a voracious shopper in the "afirmative action" marketplace for the right-colored/correct-genitalia bodies. These hires are, basically, forever. No one has the guts to get rid of under-performers.
2. The "bench" in journalism is now empty. The NYT could use smaller newspapers as post-graduate finishing schools. These regional papers are, effectively, extinct.
3. Clicks. For the first time, newsrooms became vulnerable to accurate measures of their audience. A classic two-edged sword.
4. Schools of Journalism are now woke. I graduated, long ago, from NU's Medill School...it's now just another neo-Marxist cluster-grope. These kids don't care a fig about "truth;" they are missionaries for the new power-religion.
Old school news could never keep up with Twitter's speed. But the abject lying and ignoring inconvenient news because they are paid off by business interests is what will ultimately doom it.
I wouldn't trust left or right news media to tell me what color the sky is.
Alex, I think you're the only person left that calls them "professional reporters". They are anything but that. They are no more "professional reporters" than the 6 pm anchorman with coiffed hair that reads from a script and couldn't form a rational opinion if his life depended on it. It sure seems like the citizenry has outgrown the CIA fueled propaganda machine that so mesmerized the last 5 generations.
Legacy media is toast all sponsors will end up on Twitter. Legacy media did this to themselves they took orders from Yoel Roth our Government leadership as well. Legacy media Pushed mNRA shot face mask school closure lock downs Picking winners and losers destroying tens of thousands of people lives even still today and not even apologizing once or returned one cent to the People they destroyed. How Fox news Keeps that bird 🐦 doctor is beyond me he never had feathers and they must feel sorry.
Did I hear correctly that Alex would vote for Biden over Trump? Not only was FTX used to STEAL tax payer $$ which went to Ukraine; then went to FTX then back to the Democrats….that is bad enough.
But!! To keep someone in power who has forced these mandates and lockdowns? Isn’t that how this page was started? He got kicked off of Twitter by the social media Nazis, but then he doesn’t want to fire the people who are promoting the censorship? Forcing masks. Forcing businesses to close. Forcing the jab!!! What the actual fuck Alex?!!!
Two doctors…ones a great one but a complete asshole. The other one, is a complete trainwreck, but a decent guy. Don’t tell me you’d pick the latter. 🤦♀️
IMAGINE if it had been President Trump who was pushing to send tens of billions of our taxpayer dollars to corrupt Ukraine where the money was funneled directly to a fraudulent crypto scheme which paid tens of millions directly back in the pockets of the Republican party to be used for election spending. Imagine. Trump would have been impeached 50 times over and almost certainly removed from office.
How does the American taxpayer feel about funding a 30 year old deadbeat's billion dollar fraud scheme - so he can live in a $40 million dollar estate in the Bahamas - and bring the world to the brink of nuclear WWIII just as a bonus?
Even with the correct thinking and money-laundering to the Democratic Party of the FTX "management team", I find it hard to believe that there are still no warrants issued for the arrest of SBF, Caroline and every other thief in power at FTX.
Let's have more stories like this one, Alex. You do a great job of explaining modern journalism.
Every article about this fiasco should have as a headline some form of “Top Biden Donor Escapes Authorities After Stealing Hundreds of Millions of Dollars,” but of course that hasn’t been the case at all. And in all likelihood, nothing will come of this because of who he was giving money to—the same reason his dealings weren’t under more scrutiny in the first place.
https://euphoricrecall.substack.com/p/dem-hypocrisy-and-the-megadonor-scandal
If election fraud existed, it could be described like this.
“Frauds depend on opaque accounting, accounting that no one from the outside can challenge or in some cases even understand. Complexity is the grifter’s friend.”
Alex - Please don't forget Ukraine/Zelenksy's role in this money laundering operation. They were the middleman who funneled our tax dollars to FTX, so Bankman-Fried could send it to Uncle Joe and the Dems so they could keep the senate.
As a friend and colleague who worked at both the NYT and 60 Minutes told me a few months back, journalists are now "activists first, journalists second." Heaven help us!
Alex, let's talk about your tweet yesterday regarding never voting for Trump. I too hope we have a different option, but when you say you will vote for the Democrat you are saying you would vote for Biden over Trump. Bless your heart, but if it wasn't for you and a couple other people we would all be locked in our homes and only let out to get our 5th booster shot if Biden and Democrats had their way. So now you want that future? I find your stance incompatible with reality.
YES! Great article! It's no surprise that there's no real look into FTX because of who's behind the curtain -- just like there was never a great reckoning for four years of RUSSIA RUSSIA RUSSIA nonsense from the presstitutes. Just like there was never a great reckoning for the deliberate sabotage of the Hunter laptop -- the easiest story in the world to verify if they wanted to do it.
But as I say, journalism is an ACTION, not (just) a profession. The people here on the 'Stack are doing more journalism than the entire MSM combined.
The Bahamas location and the relatively small auditing firm should have set off red flags for anyone with any financial savvy. Prager Metis, the auditor of FTX, is slightly larger than my employer. We audit small and mid-sized clients--nobody with billions in assets. And the Bahamas: a sunny place for shady people.
Expecting journalists to report facts about people they run around with or who line their pockets, is like expecting a 3 year old to snitch on the Cookie Monster for stealing them cookies.
The demise of the NYT is a national tragedy. There are many reasons, starting with the family-ownership model, which works as long as the heir turns out to be competent. And AG ain't.
But a couple other things might be mentioned:
1. The NYT was a voracious shopper in the "afirmative action" marketplace for the right-colored/correct-genitalia bodies. These hires are, basically, forever. No one has the guts to get rid of under-performers.
2. The "bench" in journalism is now empty. The NYT could use smaller newspapers as post-graduate finishing schools. These regional papers are, effectively, extinct.
3. Clicks. For the first time, newsrooms became vulnerable to accurate measures of their audience. A classic two-edged sword.
4. Schools of Journalism are now woke. I graduated, long ago, from NU's Medill School...it's now just another neo-Marxist cluster-grope. These kids don't care a fig about "truth;" they are missionaries for the new power-religion.
Old school news could never keep up with Twitter's speed. But the abject lying and ignoring inconvenient news because they are paid off by business interests is what will ultimately doom it.
I wouldn't trust left or right news media to tell me what color the sky is.
Alex, I think you're the only person left that calls them "professional reporters". They are anything but that. They are no more "professional reporters" than the 6 pm anchorman with coiffed hair that reads from a script and couldn't form a rational opinion if his life depended on it. It sure seems like the citizenry has outgrown the CIA fueled propaganda machine that so mesmerized the last 5 generations.
Legacy media is toast all sponsors will end up on Twitter. Legacy media did this to themselves they took orders from Yoel Roth our Government leadership as well. Legacy media Pushed mNRA shot face mask school closure lock downs Picking winners and losers destroying tens of thousands of people lives even still today and not even apologizing once or returned one cent to the People they destroyed. How Fox news Keeps that bird 🐦 doctor is beyond me he never had feathers and they must feel sorry.
Did I hear correctly that Alex would vote for Biden over Trump? Not only was FTX used to STEAL tax payer $$ which went to Ukraine; then went to FTX then back to the Democrats….that is bad enough.
But!! To keep someone in power who has forced these mandates and lockdowns? Isn’t that how this page was started? He got kicked off of Twitter by the social media Nazis, but then he doesn’t want to fire the people who are promoting the censorship? Forcing masks. Forcing businesses to close. Forcing the jab!!! What the actual fuck Alex?!!!
Two doctors…ones a great one but a complete asshole. The other one, is a complete trainwreck, but a decent guy. Don’t tell me you’d pick the latter. 🤦♀️
IMAGINE if it had been President Trump who was pushing to send tens of billions of our taxpayer dollars to corrupt Ukraine where the money was funneled directly to a fraudulent crypto scheme which paid tens of millions directly back in the pockets of the Republican party to be used for election spending. Imagine. Trump would have been impeached 50 times over and almost certainly removed from office.
How does the American taxpayer feel about funding a 30 year old deadbeat's billion dollar fraud scheme - so he can live in a $40 million dollar estate in the Bahamas - and bring the world to the brink of nuclear WWIII just as a bonus?
Even with the correct thinking and money-laundering to the Democratic Party of the FTX "management team", I find it hard to believe that there are still no warrants issued for the arrest of SBF, Caroline and every other thief in power at FTX.