People often talk about “cancel culture.” The way in which people are “canceled” from public life for the tiniest error of judgement or the most minute misstep. So it is interesting to discover what you can do and still not get canceled. …
That’s Sam Bankman-Fried in the middle
FTX crypto exchange and the hedge fund Alameda Research went out of their way to defraud investors and users. But despite this fact, Bankman-Fraud still seems to have support. No cancellation for him!
Just look at how his friends at The New York Times have treated him. In recent weeks they have tried to portray the collapse of FTX as — at the worst — a case of unfortunate mismanagement. The poor diddums billionaire boy just became too successful too fast. Problems are bound to happen. You know how it is.
This week the paper went one further. They actually hosted the fraudster at a New York Times event. Their description of him in the event program was “29-year old American investor, entrepreneur and philanthropist.” Well that’s one way to describe him. At the end of the event the moderator asked everyone to join him in applauding their guest and the audience dutifully did so.
Can anyone think of another example of this happening. Did Bernie Madoff get soft-soap articles about him after his fraud was discovered? Did he have invitations to major public events to put his side of the story after his ponzi scheme collapsed? Not that I remember. But Bankman-Fried has been given all the soft treatment possible. Now why should that be?
The answer would seem to be that he has been a huge donor to the Democrats as well as causes close to the Democrats’ hearts. …
If he had any brilliance, it was his simple insight that you could run a successful Ponzi scheme if you made all the right noises. So in interviews Bankman-Fried forever talked about all the things he was trying to do personally to save the planet. He talked about the importance of tacking injustice and inequality and all the other things that make Democrats feel warm and gooey inside. And he posed as this generous person who was totally uninterested in making money, other than to make it in order to give it away. Bill Clinton happily cozied up to him on stage. Maxine Waters blew a kiss at the unlovable oddball. The Dems adored him. It seems many of them still do. And so he got away with his fraud. And seems to be getting away with it still.
Only works in a corrupt one-party state. Let’s see if he gets away with it, or if he does time.