Sam Bikeman, Sam Bankman, Barbara Fried discussed on The Doug Collins Podcast
And he was involved with enron. Right. Well, let's break out what you just said. Let's just break down into parts and then let's get back to the whole. Sam bikeman free. I mean, this is, let's start with him. And I love your analysis there with a theranos issue which, by the way, I think is we are taping this is getting has been sentenced to prison time and all for what was going on with that. But I think it's an interesting analogy. How did someone of his age and I'm not taking back from age? I got no problem with somebody with great ideas. I don't care what your age is making a lot of money and but how did it go in a special industry such as this? Besides the democratic donor base besides some of the other stuff that they were throwing out a lot of money it places. One, how did he gain the money? I guess the thought that many people have. And then how did it become so quickly marketable in the political world? And then because there's reports that, you know, this issue has, you know, Ukrainian legs back to democratic donors. I mean, there's just all kinds of things going on here. Give us a little in front about him if you can. Right. Well, he is a pretty book smart guy and also smart at making social connections, but there's a saying knowledge doesn't even equal wisdom. But it also certainly helped the fact that he had prominent parents that his name is Sam bankman fried Barbara fried, headed to Silicon Valley pack that gave to democratic donors. And. Also his father, Joseph bankman, helped, according to fortune, draft tax legislation for senator Elizabeth Warren. So, I mean, basically Kevin O'Leary, mister wonderful on Shark Tank said, well, of course I trust him because his parents are compliance attorneys, but something to the effect. I'm paraphrasing what could go wrong. That's like trusting the biker with all the ingredients and never watching because nobody ever would think the biker would put something in there, you know? Exactly. Trust but verify as Ronald Reagan said in everything in politics and in business. Well, I mean, he gained this and then we bring in to account this Alameda group as well that in which they were he was funneling off money, however you want to put this into the, but this also lands itself to a really different part of this because the Alameda group was headed by a young lady who had a relationship with him, I mean, this can't get any more confusing, especially when you get into this quote polymorphic couples. I mean, did anybody just see this? Or did all this just come to light reason? Well, people did see it. This is the thing. The FDIC federal deposit insurance corporation warned them in August, but this is a bank regulator asthma with the bios insurance that they were deceptively advertising that their accounts had deposited insurance. That should have been a warning. Also short seller Mark hodes was saying, you know, things like in August that nothing fits here, here are ten guys in the commune in The Bahamas, running a multi-billion dollar financial exchange. So yes, there were a lot of things there, but I mean, one of the other things we did is he wrapped the FTX environmental and social governance mantra where they were saying they were talking about being carbon neutral and favoring coins that like with what's going proof of stake supposedly wasn't harmful to the environment. So he wrapped himself in there. So it's clear. I mean, I've written about other ESG firms that are being there being shorter, that ESG can be a mantra for, you know, environmental and social governments can be poor poor financial financial governance, but the S and the SEC at the same time when they had warnings about this were instead trying to make companies disclose how they were how ESG or woke they were in pushing things that had nothing to do with fraud at the same time this fraud that he apparently was raging at FTX..