Business/Markets/Stocks/Economics Random, Random

[ponchi101]

The criminals people that led us to the 2007 debacle walked away unpunished. Why would he think he will be treated differently?
Plus: any ENRON top executives ever did any time? I ask that seriously. I don't know.

[skatingfan]

The criminals people that led us to the 2007 debacle walked away unpunished. Why would he think he will be treated differently?
Plus: any ENRON top executives ever did any time? I ask that seriously. I don't know.

Jeffrey Skilling did 12 years, and Ken Lay would have served time, but died of a heart attack after being convicted, and before being sentenced.

https://www.cnbc.com/2021/12/02/enrons- ... e-now.html

[JazzNU]

Absolutely hysterical, in view that Buffet has been extremely vocal that crypto holds no value and is a scheme.

[ti-amie]

Seeing that video and knowing that the "old heads" at Black Rock got taken leaves me speechless.

[ponchi101]

Buffet said it from the beginning.
But he was hardly the only one; the lack of an underlying value is the key issue to know this is a scam. Which leads me to a weird thing.
The Gov of Vennieland has issued a crypto. It is called the PETRO. But, surprisingly, it is backed by the countries oil reserves, so it has some underlying value. Also, as oil is quoted in dollars, there is a second underlying value to that crypto.
So, it is one crypto that could be of value, because something props it. Then again, it is managed by the Vennie govt, so all potential value is wiped out by the corruption and mismanagement that comes with that.

[ti-amie]

[ponchi101]

This does not end there. FTX and CRYPTO are the largest traders but, by definition, they traded FOR somebody. My local H&R branch in Colorado was peddling crypto to investors there, saying that "it fluctuates between 32k and 44k, so you can always buy low and sell high". I was seriously considering dropping them as tax-filers.
I wonder what they are telling those clients that BOUGHT BTC at 32K, and it now stands at 18k. Almost a 40% drop.
So, repeat that story in many places. This FTX fiasco is far from over.

[ti-amie]

[ti-amie]

[JazzNU]

Hilarious how they're citing violation of regulatory laws just about all crypto investors claimed to want no part of. FOH

[ti-amie]

This person is a member of Tennis Twitter who has been vocal about politics. I hope they don't get banned.

[ti-amie]

For example

[ti-amie]

[ti-amie]

Lisa Bloom
@LisaBloom
·
11h
Finally, let’s just talk about how cruel it is to force everyone to opt in to these ridiculous terms within 24 hours or be fired.

Workers depend on their jobs. Their livelihood is not a game to be toyed with by a billionaire bully.

#TwitterLayoffs

[skatingfan]

An explanation of the FTX scandal.