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From a sworn legal document filed by John J. Ray III, the expert appointed CEO of FTX cryptocurrency company upon the November 11th resignation of major Democratic donor Sam Bankman-Fried:

DECLARATION OF JOHN J. RAY III IN SUPPORT OF CHAPTER 11 PETITIONS AND FIRST DAY PLEADINGS

I, John J. Ray III, hereby declare under penalty of perjury as follows:

1. I am the Chief Executive Officer of the above-captioned debtors and debtors-in possession (collectively, the “Debtors”), having accepted this position in the early morning hours of November 11, 2022. I am administering the interests and affairs of the Debtors from my offices in the United States.

2. My first official act in these roles was to authorize the chapter 11 filings of the Debtors and the commencement of the above-captioned chapter 11 cases (the “Chapter 11 Cases”).

3. Since my appointment, I have worked around the clock with teams of professionals at Alvarez & Marsal, Sullivan & Cromwell, Nardello & Co., Chainalysis, Kroll and a confidential cybersecurity firm, to secure the assets of the Debtors wherever located, to identify reliable books and records, to assemble the information necessary to provide to this Court, and to respond to numerous inquiries from multiple regulators and government authorities including the U.S. Commodity Futures Trading Commission (“CFTC”), the U.S. Attorney’s Office for the Southern District of New York, the U.S. Securities and Exchange Commission (“SEC”), and the U.S. Congress, among others.

4. I have over 40 years of legal and restructuring experience. I have been the Chief Restructuring Officer or Chief Executive Officer in several of the largest corporate failures in history. I have supervised situations involving allegations of criminal activity and malfeasance (Enron). I have supervised situations involving novel financial structures (Enron and Residential Capital) and cross-border asset recovery and maximization (Nortel and Overseas Shipholding). Nearly every situation in which I have been involved has been characterized by defects of some sort in internal controls, regulatory compliance, human resources and systems integrity.

5. Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented. …

For purposes of managing the Debtors’ affairs, I have identified four groups of businesses, which I refer to as “Silos.” …

Each of the Silos was controlled by Mr. Bankman-Fried.2 Minority equity interests in the Silos were held by Zixiao “Gary” Wang and Nishad Singh, the co-founders of the business along with Mr. Bankman-Fried. … To my knowledge, no single investor other than the co founders owns more than 2% of the equity of any Silo.3 …

The audit firm for the Dotcom Silo was Prager Metis, a firm with which I am not familiar and whose website indicates that they are the “first-ever CPA firm to officially open its Metaverse headquarters in the metaverse platform Decentraland.”4

From a Prager Metis press release: “Prager Metis’ metaverse office will be located at coordinates (18, 144) in Decentraland and offer real world services that are critical to the metaverse world” — whatever those may be.

I feel more confident in their audit already!

But Mr. Ray does not:

I have substantial concerns as to the information presented in these audited financial statements, especially with respect to the Dotcom Silo. As a practical matter, I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication of the financial circumstances of these Silos.

57. The Debtors have not yet been able to locate any audited financial statements with respect to the Alameda Silo or the Ventures Silo.

58. The Debtors are locating and securing all available financial records but expect it will be some time before reliable historical financial statements can be prepared for the FTX Group with which I am comfortable as Chief Executive Officer. The Debtors do not have an accounting department and outsource this function.

59. The FTX Group’s approach to human resources combined employees of various entities and outside contractors, with unclear records and lines of responsibility. At this time, the Debtors have been unable to prepare a complete list of who worked for the FTX Group as of the Petition Date, or the terms of their employment. Repeated attempts to locate certain presumed employees to confirm their status have been unsuccessful to date.

What? Who, me? Nah, that’s the other Steve Sailer. He’s the one who worked for FTX. I hate that guy. No, I was just vacationing in the Bahamas for the last 15 months. Yeah, well, I dare you to prove I was the Steve Sailer working for FTX. They didn’t even have a list of employees.

Artist’s conception

62. The Debtors did not have the type of disbursement controls that I believe are appropriate for a business enterprise. For example, employees of the FTX Group submitted payment requests through an on-line ‘chat’ platform where a disparate group of supervisors approved disbursements by responding with personalized emojis.

63. In the Bahamas, I understand that corporate funds of the FTX Group were used to purchase homes and other personal items for employees and advisors. I understan that there does not appear to be documentation for certain of these transactions as loans, and that certain real estate was recorded in the personal name of these employees and advisors on the records of the Bahamas.

65. The FTX Group did not keep appropriate books and records, or security controls, with respect to its digital assets. Mr. Bankman-Fried and Mr. Wang controlled access to digital assets of the main businesses in the FTX Group….

Unacceptable management practices included the use of an unsecured group email account as the root user to access confidential private keys and critically sensitive data for the FTX Group companies around the world, the absence of daily reconciliation of positions on the blockchain, the use of software to conceal the misuse of customer funds, the secret exemption of Alameda from certain aspects of FTX.com’s auto-liquidation protocol, and the absence of independent governance as between Alameda (owned 90% by Mr. Bankman-Fried and 10% by Mr. Wang) and the Dotcom Silo (in which third parties had invested).

66. The Debtors have located and secured only a fraction of the digital assets of the FTX Group that they hope to recover in these Chapter 11 Cases. The Debtors have secured in new cold wallets approximately $740 million of cryptocurrency that the Debtors believe is attributable to either the WRS, Alameda and/or Dotcom Silos. The Debtors have not yet been able to determine how much of this cryptocurrency is allocable to each Silo, or even if such an allocation can be determined. These balances exclude cryptocurrency not currently under the Debtors’ control as a result of (a) at least $372 million of unauthorized transfers initiated on the Petition Date, during which time the Debtors immediately began moving cryptocurrency into cold storage to mitigate the risk to the remaining cryptocurrency that was accessible at the time, (b) the dilutive ‘minting’ of approximately $300 million in FTT tokens by an unauthorized source after the Petition Date and (c) the failure of the co-founders and potentially others to identify additional wallets believed to contain Debtor assets.

67. In response, the Debtors have engaged forensic analysts to identify potential Debtor assets on the blockchain, cybersecurity professionals to identify the parties responsible for the unauthorized transactions on and after the Petition Date and investigators to begin the process of identifying what may be very substantial transfers of Debtor property in the days, weeks and months prior to the Petition Date. …

69. The FTX Group had billions in investments other than cryptocurrency, as suggested above in the descriptions of the four Silos. However, the main companies in the Alameda Silo and the Ventures Silo did not keep complete books and records of their investments and activities. …

71. One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making. Mr. Bankman-Fried often communicated by using applications that were set to auto-delete after a short period of time, and encouraged employees to do the same.

72. The Debtors are writing things down. …

76. Finally, and critically, the Debtors have made clear to employees and the public that Mr. Bankman-Fried is not employed by the Debtors and does not speak for them. Mr. Bankman-Fried, currently in the Bahamas, continues to make erratic and misleading public statements. Mr. Bankman-Fried, whose connections and financial holdings in the Bahamas remain unclear to me, recently stated to a reporter on Twitter: “F*** regulators they make everything worse” and suggested the next step for him was to “win a jurisdictional battle vs. Delaware”.

I declare under penalty of perjury that the foregoing is true and correct.
Dated: November 17, 2022 /s/ John J. Ray III
Name: John J. Ray III
Title: Chief Executive Officer

 
• Category: Economics, Science • Tags: Bitcoin, Fraud 
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  1. Unbelievable. How many regulators will lose their jobs over this? My guess–NONE

  2. Polistra says:

    Minority equity interests in the Silos were held by Zixiao “Gary” Wang and Nishad Singh, the co-founders of the business along with Mr. Bankman-Fried.

    In microcosm, the pecking order of power in America, ca 2022.

  3. Trelane says:

    Amphetamine is a hell of a drug

    • Thanks: Redneck farmer
    • Replies: @Trevor
  4. JimB says:
    @Meretricious

    Unbelievable. How many regulators will lose their jobs over this? My guess–NONE

    Fake elections have real consequences. Investors should sue MITs endowment to get their money back

  5. hhsiii says:
    @Meretricious

    But they weren’t regulated.

    • Replies: @Meretricious
  6. Coemgen says:

    Wow, John J. Ray III works fast.

    I wonder who the “debtors” are?

    • Replies: @Steve Sailer
    , @HammerJack
  7. No one ever points out that the big players here are all Jews. I locate this as step three of five.

    This one is the one where the Jews get happy.

  8. Steve, did you see I found another pic of your current obsession?

    https://www.unz.com/isteve/shoplifting-costs-target-600-million-more-this-year/#comment-5662852

    And (thoughtful fellow that I am) I appended her list of likes & dislikes.

    One additional thought: as weird as it seems to me that anyone would find her attractive at all, it’s unfathomably weird that anyone would give her $32 billion of OPM for safekeeping.

    Even if it is mostly goy money. (BTW I was banned from the DM today for that one sentence.)

  9. Commenter AnotherDad has often mentioned the “parasitic verbalist overclass”.

    🤔 I think AD may be onto something…

    https://www.bostonreview.net/forum/barbara-fried-beyond-blame-moral-responsibility-philosophy-law/

    Beyond Blame

    The philosophy of personal responsibility has ruined criminal justice and economic policy. It’s time to move past blame.

    Barbara H. Fried

    https://news.stanford.edu/2017/05/08/biologist-robert-sapolsky-takes-human-behavior-free-will/

    Stanford biologist Robert Sapolsky ponders the best and worst of us, plus free will

    With the publication of his latest book, Robert Sapolsky tackles the best and worst of human behavior and the nature of justice in the absence of free will.

    https://www.theguardian.com/books/2017/jun/09/behave-by-robert-sapolsky-review

    Behave by Robert Sapolsky review – why do we do what we do?

    This magisterial account of human behaviour journeys from immediate brain response back to long-term social causes. It also suggests we have no free will

    Bonus:

    Note: The above jpg sequence may be slightly ’shopped, but all elements are real:

    https://www.nytimes.com/events/dealbook-summit#overview

    https://www.nytimes.com/2022/10/18/business/ukraine-zelensky-meta-zuckerberg-dealbook-summit-2022.html

  10. Did you know

    Bankman-Fried was the second largest billionaire donor to Democratic causes in the 2022 midterm election, giving nearly $40 million.

    In Their Own Words

    My goal is to have impact.
    Sam Bankman-Fried

    https://www.forbes.com/profile/sam-bankman-fried/

    ………….

    PS Do the feds have cause to intercept him if he shows up for this?

    https://nypost.com/2022/11/17/sam-bankman-fried-to-appear-alongside-volodymyr-zelensky-at-exclusive-nyt-event/

  11. JimDandy says:
    @Meretricious

    None. Their motto is, “You need us now more than ever.”

    • Agree: Renard
    • LOL: Meretricious
    • Replies: @megabar
  12. Thing is, this sort of thing, perhaps not often to this extent, but even still…, is a feature, not a bug, of our new “global economic” system. And “democracy.”

    The FTX scam funds the Ukrainian scam which funnels money to the Democratic Party scam and to a lesser extent the controlled opposition scam.

    But don’t notice any of this or you’re a conspiracy theorist or an “anti-Semite.” And don’t even think these people might engage in election fraud (“election denial”) when they come out of hiding one week after the election to reveal that the Democrat defeated the populist candidate by a couple of thousand votes despite trailing in the polls by double-digits.

  13. Mr. Bankman-Fried, whose connections and financial holdings in the Bahamas remain unclear to me…

    Isn’t that the whole point of the Bahamas?

    • Agree: Achmed E. Newman
  14. @Coemgen

    The “debtors” are FTX, which Ray became CEO of on November 11.

    • Replies: @Coemgen
  15. @Jenner Ickham Errican

    The reality — because it’s the reality — is actually somewhat more frightening.

    For reference: the original for the above.

    https://www.nytimes.com/events/dealbook-summit#sessions

    There are fifteen panelists. There’s a token Asian, three obligatory mulattos, three whites who are apparently gentiles, and eight Jews.

    We are an underclass in our own country. It’s run by Jews. That’s not an antisemitic fantasy. It’s a statement of fact.

  16. Goatweed says:

    Reports indicate the Bahamian government encouraged SBF and Wang to transfer funds to the government of the Bahamas after declaring bankruptcy.

    What will that mean?

    • Replies: @Cool Daddy Jimbo
  17. Does FTX close connection with the Democrat Party make this a scandal? Probably not. The news media decides what is a scandal and what is not. For example, Trump is described as having run a “scandal-plagued administration” but most of the scandals turned out to be false accusations. Meanwhile, the Biden administration remains untainted by scandal due to journalists’ studied lack of interest in the Biden family finances.

    The Rule of Scandals as understood by contemporary journalists:

    Republican + accusation + blanket coverage = scandal.

    Democrat + evidence of corruption + indifference of media = lack of scandal.

    Democrat + evidence of corruption + Deep State decision that it’s time for this one to go = scandal.

    • Replies: @James B. Shearer
  18. @Harry Baldwin

    “Does FTX close connection with the Democrat Party make this a scandal? …”

    There are possibilities. To start with every politician who took their money should be asked to give it back.

  19. @hhsiii

    Read the affidavit–CFTC is involved

  20. anonymous[219] • Disclaimer says:
    @Jenner Ickham Errican

    Is it just me, or does Janet Yellen look like a wigged Norman Podhoretz?

  21. J.Ross says:

    To be expected but still breathtaking. Your radicalization assignment for the day is to look up who Kavinsky was. Disregard results mentioning Lovefoxxx, I mean the other Kavinsky.

  22. J.Ross says:

    (What’s a cold wallet?)
    There are three explanations of what FTX actually was, in order of direness, but they are simultaneously true:
    (1) A conspiracy by freedom-hating academics to destroy crypto, by either replacing existing crypto, or causing such a mess as to justify a severe government takeover;
    (2) A conspiracy to launder money for the Democratic Party (incliding making donations to presumed soft opposition);
    (3) A conspiracy to grab what you can as the empire dies.

    • Replies: @JR Ewing
  23. J.Ross says:

    It doesn’t exist on YouTube and I didn’t have the foresight to make it into a subtitled gif, but there’s a scene in an episode of Dragnet where a drug-addled hippie is telling Friday and Gannon that he’s going to be a screenwriter, but doesn’t need to show them a portfolio because it’s all up here (pointing to his head). It’s pretty easy to see SBF using this defense.

  24. Anon[327] • Disclaimer says:
    @Colin Wright

    Oh come on, it’s all a coincidence! Steve will notice any day now….

  25. Trevor says:
    @Trelane

    Amphetamine is a hell of a drug

    SBF = (((Samuel Brain-Fried)))

  26. @Meretricious

    Meretricious wrote:

    Unbelievable. How many regulators will lose their jobs over this? My guess–NONE

    Crypto is a Ponzi scheme.

    A very., very obvious Ponzi scheme with a little bit of techno-babble (blockchains and all that) to befuddle the marks.

    At some point, we just have to say, “A fool and his money are soon parted.”

    Of course, how much money was lost to SBF vs. how much money was lost to Zelensky and his cronies?

    The biggest con here is to focus all our attention on the smaller con.

  27. @Jenner Ickham Errican

    Jenner Ickham Errican wrote:

    Commenter AnotherDad has often mentioned the “parasitic verbalist overclass”.

    I think I coined the phrase, though I stole the term “overlcass” from the paleo-liberal Michael Lind.

    But I’ll share credit with AD if he want it!

    • Replies: @Jenner Ickham Errican
  28. SafeNow says:

    When I first heard “Bankman” I immediately thought, this name sounds like a character in Pilgrim’s Progress. But a current character comes close enough I guess. “Ignorance” aka “brisk young lad.” Mr. Ignorance makes it to The Celestial City, but is denied entry, because he does not have the requisite Certificate, i.e., records. And so he is sent to hell.

    • Replies: @Wokechoke
  29. @Achmed E. Newman

    Except, to quote P.J. O’Rourke, FTXers didn’t “take the manly risk of robbing someone with a gun”.

  30. @PhysicistDave

    I think I coined the phrase, though I stole the term “overlcass” from the paleo-liberal Michael Lind.

    But I’ll share credit with AD if he wants it!

    Whoops. Sorry for not crediting you as well! It looks like, on Unz at least, you first put the exact phrase together, although in a search of the key word “verbalist” in each respective comments histories, AD had most of the phrasing down first, linking “verbalist” with certain “elites” in a paragraph on March 9, 2018:

    But we definitely have a lot of “verbalists” out there in our SAT selected elite.

    From the output of mainstream elite journalists and politicians it’s clear these are not people prone to thinking mathematically. (In fact, reading a lot of their output, you’d think they are screened for aversion to mathematical thinking.)

    On December 2, 2019 AnotherDad had nearly the exact current phrase down:

    Basically the engineers, the STEM people, have done their jobs well. While our parasitic elites, the verbalists, have spewed nonsense and created an utter disaster.

    September 4, 2020 was your first mention of “verbalist” and you paired it with “overclass”:

    The real civil war is between the producers and the verbalist overclass

    AD, in agreement with your comment, used the phrase “verbalist parasites”:

    And what we’ve had is a coup by the verbalist parasites against majoritarianism, productive people and our republic.

    From that you refined it, in that thread, to the final version: “parasitic verbalist overclass”.

    Most American parents can teach their kids the three Rs, and that is the obvious way to do it, at least if we can eliminate the parasitic verbalist overclass so that one paycheck is adequate for most families.

    Search results for “verbalist”, chronological:

    https://www.unz.com/?s=verbalist&Action=Search&ptype=all&commentsearch=only&commenter=AnotherDad&sortby=earliest

    https://www.unz.com/?s=verbalist&Action=Search&ptype=all&commentsearch=only&commenter=PhysicistDave&sortby=earliest

    • Thanks: PhysicistDave
    • Replies: @PhysicistDave
  31. @Jenner Ickham Errican

    Jenner Ickham Errican wrote to me:

    It looks like, on Unz at least, you first put the exact phrase together, although in a search of the key word “verbalist” in each respective comments histories, AD had most of the phrasing down first, linking “verbalist” with certain “elites” in a paragraph on March 9, 2018:

    Ah, great minds think alike!

    I wonder if it was AD’s use of “verbalist” that caused me to start pushing it: I don’t recall that, but we all read so much stuff nowadays on the Web, that it is hard to remember where you first saw something.

    It is a little micro-example that illustrates how double discoveries occur in various STEM areas.

    In any case, I doubt that either AD or I can ever get any benefit from claiming first use.

    What does matter is to spread the basic idea: The managerial and professional classes today are largely dominated by those who use words to manipulate other people, not by those who understand how to deal with the actual material world. SBF is a sterling example.

    That is very dangerous, and it has not always been so: Henry Ford, Andrew Carnegie, John D. Rockefeller, George Washington, Thomas Jefferson, and even Mark Twain. all had a rather keen sense of the material world. Not that those men were all saints or above a bit of manipulation when they could pull it off.

    But it used to be that the vast majority of ordinary Americans, and quite a few elite Americans, had occupations that centered on the material world.

    That is no longer true. This will not end well.

    • Thanks: Captain Tripps
  32. anon[296] • Disclaimer says:

    “parasitic verbalist overclass”

    Why not just say “Jews”?

    Well, of course I know why: because they’ve rendered criticism of themselves verboten. That’s the first thing which every tyrant does.

  33. Altai says:

    Has Steve heard of Tether yet? They also don’t believe in audits. Well they do but only when they are allowed to move money around between accounts to have a census style counting of their money in them but only during the day the auditors are looking.

  34. EdwardM says:

    So is this:

    (a) A scam in the sense that SBF and his cronies set this Rube Goldberg machine up to steal customers’ money from the outset;
    (b) Temptation to loot emerged over time; or
    (c) Breathtaking hubris, incompetence, and self-righteous wokeness run amok?

    It is likely that he really thought he was changing the world, etc. and believed his own B.S., especially as it was validated by all of the usual suspects. Is it possible that he’s such an incompetent scammer that it didn’t occur to him to put some modicum of internal control in place to at least keep up appearances? Hanlon’s Razor seems most likely.

    I guess there isn’t much of a difference between these possible motives. I know nothing about the supposed investment thesis even if he was acting in good faith, but it seems unconscionable that he could generate multibillion-dollar income for himself operating an exchange that, fundamentally, is supposed to be a forum for customers to trade their own assets, right? Were the margins that high?

  35. @Coemgen

    I wonder who the “debtors” are?

    I wonder who their CFO was. Did they even have one? Most businesses handling tens of billions of dollars usually have a CFO, at least.

  36. MEH 0910 says:


    https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy

    • Replies: @Colin Wright
  37. JR Ewing says:
    @J.Ross

    (What’s a cold wallet?)

    In crypto applications, no one actually possesses the coins. In fact, the coins don’t actually exist except on a large ledger that is commonly distributed around the world (the blockchain). It’s kind of like the numbers on a screen at your bank except that you can’t go to the bank and pull out physical pieces of paper. It all stays on the screen at all times.

    All of the entries on the blockchain are encrypted and every “account” is anonymous. The only way to access one’s holdings is to enter the private “key” (password) that matches up to what’s in the blockchain, and then you are able to send and receive transactions. If you don’t have that key then you can’t access that account and you can’t send or receive coins and those holdings are essentially lost. No one can access the account without the key.

    A “wallet” is the location of that key.

    A “hot wallet” is stored online and is harder to lose since copies and backups can be made, but it’s also easier to hack and steal for the same reason. Very roughly speaking, exchanges like FTX or Coinbase would be repositories of hot wallets.

    A “cold wallet” is a hard drive or a thumb drive that contains the key and is not physically connected to the internet. It’s more secure but also easier to lose.

    This is why you will occasionally hear about someone tearing up a landfill or diving to the bottom of a lake to look for “lost crypto”. They’re not looking for the actual coins, they are actually looking for the cold wallet than contains the only copy of the key.

    ps – Sorry if that was a rhetorical question and I didn’t need to actually answer it.

  38. @HammerJack

    Anyone who saw that woman speak and still left money with her is getting exactly what they deserve. She’s a mildly stupid teenaged girl.

  39. @Goatweed

    Reports indicate the Bahamian government encouraged SBF and Wang to transfer funds to the government of the Bahamas after declaring bankruptcy.

    What will that mean?

    NATO will declare war on them?

    • Replies: @JR Ewing
  40. Greg Mankiw’s blog has a fascinating look at cryptocurrency Blockchains by a University of Chicago B-School professor. (https://gregmankiw.blogspot.com/)

    – How they can be hacked
    – Why hacking may be more expensive than the gains from hacking
    – How likely it is that these cryptocurrencies will become standard means of settling international accounts

    Eet will exercise the leetle grey cells.

  41. Thea says:
    @HammerJack

    Her parents are well connected. If you were committing bank fraud, you would want her family on your side.

  42. Thea says:
    @Jenner Ickham Errican

    American culture has a strong streak of Calvinism that considers us to g he Ave no free will. We are sinners in the hands of an angry God. But this view called for strong personal accountability in that we are each and everyone of us deserving of the worst for whatever we have done. It is strongly based on Christianity as opposed to Talmudic Jewish Supremacy.

    She would say they should throw the book at January 6 protestors.

    Personally, I prefer the older codes of law with physical punishment rather than jail time. Lashes, dismemberment and execution will lower crime.

  43. @Meretricious

    From a Prager Metis press release: “Prager Metis’ metaverse office will be located at coordinates (18, 144) in Decentraland and offer real world services that are critical to the metaverse world” — whatever those may be.

    I assume we have an extradition treaty with Decentraland?

    [MORE]

    “You want your money back, chase me. .

    • LOL: Thea
    • Replies: @Captain Tripps
  44. @Meretricious

    “Unbelievable. How many regulators will lose their jobs over this? My guess–NONE”

    guess who’s in charge of regulating everything?

    (Gary Gensler)

    think he’ll regulate fellow (early lifers)? he was in on it.

    • Agree: J.Ross
    • Replies: @J.Ross
  45. Seneca44 says:

    “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented. …”

    Anyone else wonder: Compromised by who?

  46. Wokechoke says:

    Imagine anglizizling the yiddish for Swindler to Bankman (instead of Banks) then adding Fried to it…make the double barreled for good measure.

  47. @Hypnotoad666

    I assume we have an extradition treaty with Decentraland?

    LOL!

    Investigators ring bell at Zuckerberg mansion; Lead Investigator, “Mr. Zuckerberg, may we have a word with you? Seems there has been a crime committed in Decentraland…”

  48. Wokechoke says:
    @SafeNow

    I was thinking Dickens or Waugh.

  49. @Meretricious

    But they weren’t regulated.

    Read the affidavit–CFTC is involved

    If you read more closely, they have one or more (I forget) US based and regulated units. Which are not hardly so chaotic based on the first impressions of the people currently trying to make sense of the whole mess. Also noticed somewhere they had a couple of Australian units, and no doubt many more in other countries.

    The real issues as far as I know happened in the greater FTX which is based in the Bahamas (and per reporting on an emergency filing in this US court the regulators there directed (((SBF))) to loot the company and place digital assets someplace controlled by the Bahamian government). Thus in the US despite what you read about this currently being a Chapter 11 bankruptcy and expected to go to Chapter 7, it’s really a Chapter 15 one that’s designed to deal with situations like this where the mess spans multiple nations.

    Alameda Research per Wikipedia has its Official HQ in Hong Kong, although from recent reports I got the impression is was US based. Regulators still have limited options prior to things falling apart or getting reports that they too often ignore that a company is a scam like with (((Madoff.)))

    When it’s reported the principle actor has his custom software set up with a “backdoor” that allowed him to move assets around without raising internal flags, and only four people knew of the huge transfer(s) from FTX to Alameda, and the auditing firm for the latter if I remember correctly was not known by John J. “I liquidated Enron” Ray III and he doesn’t trust any of the audits anyway….

    Well, even the most competent and diligent auditing firm again like the regulators starts from the assumption of honesty and non-criminality and then spot checks details as well as if the numbers in general make sense. So as I understand it an audit firm will physically check to see if some items in inventory for that sort of company are actually there, contact a bank to see if a balance was $X on a certain day and time etc., we’re talking normal corporate audits, not the forensic ones being done now. Ones designed to confirm the company’s numbers and render judgements like “is this a going concern.”

    Ignoring everything SBF did to ingratiate himself with people like “Biden’s” (((SEC head))) I’m not sure what sort of regulation regime would discover what was going on prior to a crash absent inserting spies into firms. Although you could make a case all “crypto” “exchanges” should be under extreme scrutiny, and ones promising high fixed returns presumptively considered to be scams. But again, if this is happening outside your jurisdiction like here in the Bahamas…. Compare to SF based Coinbase, let’s see if they’re playing games at this level if FTX domino crashes enough of the industry that’s scamming.

    I’ll also note a lot of crypto scams are of the “you can’t cheat an honest man” type, although I suppose a lot of people don’t know … let’s again use Maddoff as an example, he was promising high fixed rates of return which is a sure sign of a scam. For him, almost everyone of that level of sophistication assumed he was simply front running his brokerage customers and they wanted in on that scam, not realizing it was in fact a Ponzi scheme.

    • Replies: @cool daddy jimbo
  50. @HammerJack

    Did you know

    Bankman-Fried was the second largest billionaire donor to Democratic causes in the 2022 midterm election, giving nearly $40 million.

    Even worse than that. Through 2024 he promised up to one billion if Trump ran, and the open, regulated (warning!) midterm donations were for the primaries, where we’re assuming he promoted people friendly to his “Let’s regulate the industry to advantage FTX” which is what triggered the final downfall. The warning is that I doubt we know all the money he spent in this election cycle.

    But by mid-October people noticed he wasn’t donating as promised for the actual November election. Maybe he decided he didn’t need to for all the obvious reasons, maybe the wheels were already coming off his empire….

  51. @Jenner Ickham Errican

    That lineup….an exaltation of larks, a murder of crows, a coincidence of Jews.

    • Agree: John Milton's Ghost
  52. Coemgen says:
    @Steve Sailer

    There’s an org chart at the bottom of this page https://s.wsj.net/public/resources/documents/FTXFILING.pdf that lists debtors. Mostly terminating in apparent company names but some individuals’ names are listed as “independent directors” (whatever that means) along with Sam Bankman-Fried (majority), Gary Wang, and Nishad Singh:

    Mitchell Sonkin
    Matt Rosenbeg
    Rishi Jain
    Judge Joseph Farnan
    Matt Doheny

    • Replies: @Hapalong Cassidy
  53. @HammerJack

    Ticker got cheeky yesterday, saying that the Fried Bankman’s gang was united by religion. Ye gods-which religion?!?! Steady on, Tucker meant ‘effective altruism’. What did YOU think? Beware of Thought Crime.

    • Replies: @Anon
  54. @Jenner Ickham Errican

    Zuckerberg, Yellen, Fried Bankman, ?elensky-what could such a ‘diverse’ group have in common?

  55. @MEH 0910

    His statement makes more sense if one substitutes ‘we Jews’ for ‘we Westerners.’

    Gentiles — as rule — make the mistake of actually believing. Joan of Arc, etc, etc.

    Etc. Jews don’t suffer from this tendency to the same extent.

  56. Muggles says:

    “Do You Really Need To Keep Business Records?”

    Answer: No, not when you are running a short term offshore Ponzi scheme. Best not to.

    • Replies: @GomezAdddams
  57. According to wikipedia Henry Ford didn’t keep good records either:

    “Ford did not believe in accountants; he amassed one of the world’s largest fortunes without ever having his company audited under his administration. Without an accounting department, Ford had no way of knowing exactly how much money was being taken in and spent each month, and the company’s bills and invoices were reportedly guessed at by weighing them on a scale. ..”

    • Replies: @J.Ross
  58. megabar says:
    @JimDandy

    > None. Their motto is, “You need us now more than ever.”

    Ha! Complexity is a haven for the dishonest. You have to trust your gut at some point, accepting that it will be wrong sometimes.

  59. And the usual suspects run cover for their ilk.

    https://www.zerohedge.com/political/did-sbf-buy-puff-piece-propaganda-vox

    For example, the NY Times on Monday published a cowering puff-piece which mentioned exactly none of the major accusations against the well-connected Democrat mega-donor.

  60. J.Ross says:
    @prime noticer

    That’s why this is the story of the decade. It’s not one plucky whiz kid who Madoff’d some investors, like they’re trying to spin it. This is the system itself. Top shelf Ivy profs, the federal regulators who are supposed to protect us from this very thing, the system itself.

  61. J.Ross says:
    @James B. Shearer

    I remember this being used as a punchline at a History of Michigan lecture (where the upshot was that Ford could never be forgiven for Noticing), and then later at a business school lecture hearing about a non-noticing concern praised for using the same method. The fact is that Ford, while he was doing this, did not crash.

  62. @Meretricious

    FTX will be used as a justification for even more regulation. Just what good did the onerous Sarbanes-Oxley law do here?

    Yes, I know FTX is based in the Bahamas, but the Feds can reach out and touch you when they want to. They didn’t want to because SBF was wired.

    • Replies: @That Would Be Telling
  63. Are you not yet outraged?

    Who/whom questions are the only questions left to ask. And its pretty clear who is fucking us.

  64. Some questions:

    1. Has anyone interviewed the parents?
    2. Has anyone interviewed former co-workers at Jane Street?
    3. Did Binance back out because they found the same mess that Ray has found?
    4. How did they deal with taxes if their records were in such a messy condition?
    5. If you were an employee who got a house from the company, can that be clawed back?
    6. If, as commenter Muggles has suggested above, one runs a Ponzi scheme and doesn’t keep records, how is that handled by the courts?

  65. @That Would Be Telling

    I suppose a lot of people don’t know … let’s again use Maddoff as an example, he was promising high fixed rates of return which is a sure sign of a scam.

    That was the genius of Madoff. He DIDN’T offer sky-high returns. He told people he could do a little better than everyone else. Not get-rich-quick, just a little better. He pulled in a lot of people who would have been scared off by a more obvious scam.

    • Replies: @Steve Sailer
    , @Alfa158
  66. @cool daddy jimbo

    But lots of Madoff’s investors believed he was scamming by frontrunning. They just assumed he was scamming somebody else, not them.

  67. JR Ewing says:
    @Cool Daddy Jimbo

    NATO will declare war on them?

    Obviously the Bahamas is a Putin stooge apologist and stands against the right of determination for free people. We should be willing to risk nuclear war in order to send a moral message.

  68. @Steve Sailer

    That Madoff was believed to be front running was mentioned in a following bit @cool daddy jimbo clipped. The belief in that was probably true for what I’ll call the medium sophisticated, the most sophisticated looked at the whole operation and saw the numbers didn’t add up, and I think some people took the measure of the man and didn’t trust him although they would seem to be an extreme minority.

    But I should have been more clear on the emphasis; we can argue how high Madoff’s (claimed) returns were and should have been (see below), but the key sign of the scam was they were “fixed.” Using the quoted bit by Bing in first link it found:

    Madoff claimed an average annual return of better than 11% but with very little volatility, according to a person familiar with the matter. The firm purported to be returning a steady 1% or so a month and to have never suffered an annual loss, this person said.

    Markopolos in yet another ignored submission to the SEC found in 2005 that in 14.5 years Madoff reported only seven months of losses, 4% of the months. “It is inconceivable that BM’s largest monthly loss could only be -0.55% and that his longest losing streaks could consist of 1 slightly down month every couple of years.” This would I assume reassure the not sophisticated.

    Per Wikipedia the Feds believe the Ponzi scheme began as early as in the 1970s, “However, Madoff himself stated his fraudulent activities began in the 1990s.” Read more and there’s red flags right and left that are inconsistent with with such a lack of volatility. Also note there was the dot.com crash during its acknowledged by him existence.

    Per that article @cool daddy jimbo does have one point in the first two sentences of this:

    Madoff’s “unusually consistent” annual returns of around 10% were a key factor in perpetuating the fraud. Ponzi schemes typically pay returns of 20% or higher and collapse quickly. One Madoff fund, which described its “strategy” as focusing on shares in the Standard & Poor’s 100-stock index, reported a 10.5% annual return during the previous 17 years.

    Even at the end of November 2008, amid a general market collapse, the same fund reported that it was up 5.6%, while the same year-to-date total return on the S&P 500-stock index had been negative 38%. An unnamed investor remarked, “The returns were just amazing, and we trusted this guy for decades — if you wanted to take money out, you always got your check in a few days. That’s why we were all so stunned.”

    But again see the unrealistic consistency through the March 2008 Bear Stearns collapse, he didn’t give up until early December.

    Not that it’s significant, but there’s six mentions of front running in the Wikipedia article. And plenty of people publicly throwing red flags starting with a Barron’s article in 2001, which also emphasizes how secrecy was a part of his MO, that’s another red flag which the participants would have been aware of. Another was its original targeting of a specific community. Etc. etc.

  69. @Steve Sailer

    Like the sign I saw in a Western bar: “We Cheat The Other Guy And Pass The Savings On To You.”

  70. @Jim Don Bob

    Just what good did the onerous Sarbanes-Oxley law do here?

    Yes, I know FTX is based in the Bahamas, but the Feds can reach out and touch you when they want to.

    Mixing those two are silly, while the Feds can of course find a suitable nexus to try to investigate a firm like FTX, Sarbox only applies to US public companies.

    One thing people may be missing is how fast this all went down by non-crypto standards. This “industry” has been aptly described as speed-running centuries of financial scams that have resulted into today’s laws and regulations.

    FTX was founded in May 2019, so it lasted three and a half years. For that matter, Alameda Research was only opened in November 2017, four years after SBF started as an intern at Jane Street Capital. Which is about as sophisticated a firm as you can find, there’s no way he wouldn’t have picked up how do a lot of things correctly after that. I suppose in a reverse way using custom software was one example he did follow (it allowed him to transfer money without raising internal red flags including the monster one below).

    Companies that do it right, or right enough like Goldman Sachs have unparalleled advantages. Whatever the issues with the latter’s Slang and SecDB, back during the 2008 crisis it allowed them to figure out their situation and do what-ifs in a matter of hours, whereas competing firms required many manual transfers of spreadsheet data into … whatever, that’s hopeless when things start exploding. See again Harvard’s rectified of the competent money managers losing a billion by simply failing to notice and close out in a timely fashion a losing position.

    Before you get on your high horse, explain when and why the Feds should have started investigating either of these SBF meta-entities, and “They’re Jews!!!” doesn’t count, nor “They’re reversion to the mean Good Times Make Soft Jews” although that should be a warning to all of us. If for no other reason than finite resources meaning the Feds have to limit their targets, and they didn’t have the law behind them to do anything with a broad enough brush for all of “crypto,” the vast majority of which is … suspect. And as far as I can tell, that portion of it seldom domiciled in the US.

    Oh, and they may have to use the FBI to do stuff abroad, which is infamously disinterested in a zillion really important domains. Read The Cuckoo’s Egg: Tracking a Spy Through the Maze of Computer Espionage which started with a less than a dollar accounting irregularity in a campus computer system and led to a KGB spy ring at the other end. The CIA was the only entity that would give Clifford Stoll the time of day, and they didn’t have jurisdiction.

    There’s also a lot of 20/20 hindsight, what has been learned by the liquidator in just one week is all of the extreme superlatives he uses. Unlike Madoff who ran a scam for decades, even if SBF hadn’t made that massive nine-ten figure illegal transfer from FTX to Alameda it was built on a foundation of sand where any one of a number of things would have caused its collapse.

    He was also extremely stupid to keep attacking Binance, which acquired enough of the FTX FTT s***coin magic beans to be able to end FTX at a time of their choosing. Although now I believe Binance may have seriously considered buying the remains of FTX until they got a peak at the Bahamas sand of its foundation and backed out. Or when did they and we discover the ten billion transfer of FTX customer deposits from it to Alameda Research?

  71. @Colin Wright

    No one ever points out that the big players here are all Jews.

    “Zixiao “Gary” Wang” and “Nishad Singh” are unusual names for Jews.

  72. Alfa158 says:
    @cool daddy jimbo

    The news stories I have seen said he promised guaranteed 14% annual returns. That’s not sky high to a working or lower middle class person, who is just scraping by and needs a Lotto level hit to get prosperous. It is sky-high to anyone who is an upper tier investor, in fact it’s like hitting the Lotto.

    What I can’t understand is why all these smart people fell for it. If my investment manager told me he had a guaranteed 14% investment I would be running for the exit. I have to guess the Madoff clients were assuming that he was screwing some one else and sharing the booty with his clients.

    • Replies: @Curle
  73. @That Would Be Telling

    Well, yes, it was a Ponzi scheme inasmuch as fresh investor contributions were used to pay out money to the earlier cohort of investors to generate the impression the firm was making money.

    What I think they were doing is akin to science fiction stories of a guy who could time-travel, and he would go back in time, say, with knowledge of the 1929 stock market crash so he could make a bundle on short sales.

    Madoff didn’t have a time machine, but he created ledger entries of stock trades as if he had a time machine and could go to an earlier time with foreknowledge of changes in stock prices. If you are falsifying records, you can claim that you engaged in a pattern of trading that would make your clients rich.

    By creating the appearance that he was making trades that all “broke the correct way”, he could claim the company was making money hand-over-fist when it wasn’t.

    I don’t think the current situation involved fraudulent records of prosperity. Rather, client money was siphoned off for the firm to trade on its own account, the trades went badly and the client money went missing.

    • Replies: @That Would Be Telling
  74. @Gandydancer

    ‘“Zixiao “Gary” Wang” and “Nishad Singh” are unusual names for Jews.’

    So would you say that Jews made up more than 2% or less than 2% of the major players?

    • Replies: @Gandydancer
  75. @That Would Be Telling

    Madoff also maintained an impressive golf handicap by claiming to shoot practically the same score in every round.

  76. Trevor says:
    @HammerJack

    One additional thought: as weird as it seems to me that anyone would find her attractive at all, it’s unfathomably weird that anyone would give her $32 billion of OPM for safekeeping

    If one goes by looks, it seems weird that anyone would give money to SBF with his beady eyes, big nose, and apparently unkempt overgrown jewfro. Not to mention maybe at least a hint (or more) of an evil grin.

    • Replies: @That Would Be Telling
  77. @Meretricious

    Governance Oversight— what a calamity. Has anyone seen Lay lately –Kenny boy Lay?

  78. @Muggles

    Who was counting the beans —Arthur Andersen??

  79. @Gandydancer

    Jewish mothers —-that would do it very nicely indeed !!

  80. @Colin Wright

    The claim was not that “Jews made up more than 2% of the big /major players”, so I don’t see the relevance of your question.

  81. So, who lost money here?

    Anyone who directly paid real (“real”?) money (i.e., fiat money that can be used to pay taxes) for crypto deserved to be taken.

    Except for those who gave money for management to people who used it to buy crypto unbeknownst to their investors, and who might reasonably not be expected to know of this behavior by their agents, I’m not seeing anyone deserving of sympathy or even concern.

  82. @Coemgen

    Farnan and Doheny sound like Irish names. I think there was a Doheny who was someone important in the development of Los Angeles. I remember a reference to a place named after him in The Beach Boys’ “Surfing USA”.

    • Replies: @J.Ross
    , @Art Deco
  83. @Inquiring Mind

    Madoff didn’t have a time machine, but he created ledger entries of stock trades as if he had a time machine and could go to an earlier time with foreknowledge of changes in stock prices. If you are falsifying records, you can claim that you engaged in a pattern of trading that would make your clients rich.

    Madoff’s claimed strategy was a lot more complicated than that, which sounds like the tax deductible cattle futures bribe handed to Hillary way back when. Going from memory, one of the very biggest red flags which should have resulted in a real SEC investigation was that what he was claiming he was doing did not match the actual action in the relevant market(s). This was a major contribution by Markopolos for all the good it did prior to the Ponzi scheme collapsing as the Great Recession really got going.

    I don’t think the current situation involved fraudulent records of prosperity. Rather, client money was siphoned off for the firm to trade on its own account, the trades went badly and the client money went missing.

    The current best guess is that you’ve got cause and effect reversed, Alameda Research’s trades went bad so FTX customer deposits were transferred to it but Alameda’s trading quality didn’t get better.

    I think there’s also questions if FTX was ever a going concern due to its FTT s***coin magic bean token, as I understand it they’re historically a sign of likely fraud, as would be the eight percent returns I’ve unreliably heard FTX offered its depositors. I’m not quite as crypto ignorant as our host, but I get the strong impression tokens are generally a sign of bad juju, but on the other hand lots of people believe the Tether USDT token is bogus. It’s also a stablecoin which is also supposed to be a red flag, but somehow it hasn’t gone poof in eight years. I’m lead to believe if it does a great deal more will come crashing down.

    Another theory with some evidence behind it is that Alameda never did very well at all, and that FTX was set up to subsidize it. There’s also the several billion (again, perhaps all or in part s***coin magic beans, which I should emphasize are not Bitcoin or Ethereum) looted from … I forget which entity, one billion USD straight to SBF, more to an entity he controlled with another person such that his share was $1.75 billion. This could be the source of the big hole in Alameda Research’s leaked balance sheets which reporting on by CoinDesk triggered the end.

    At that point based on a lot of sources the FTX/the SBF empire was already in big trouble and about five days after the article Binance made the Twitter announcement it was liquidating its FTT holdings which terminated with extreme prejudice the whole SBF empire. Again, a feud SBF should have never started, an attempt at regulatory capture….

    Come to think of it, here we have another example akin to the problems of borrowing short and lending long. IF SBF could have pulled off his US Federal regulation scheme he might have done better, we now realize probably wouldn’t have rescued his empire since it was so shoddy as our host is telling us in this topic.

    But getting laws and regulations created takes a long time absent a crisis like the one he’s now created. So the time scale was totally mismatched to the speedrunning that characterizes so much of fraudulent crypto (again, Bitcoin and Ethereum, and perhaps some other crypto are not examples of that, albeit with their own problems; I’ve only look closely at Bitcoin, and a bit at Ethereum V1.0).

  84. Art Deco says:
    @That Would Be Telling

    Per Wikipedia the Feds believe the Ponzi scheme began as early as in the 1970s,

    Apparently, the Ponzi scheme was operated by just 12 employees of the firm, including Madoff himself. One of them has said publicly that she was trained by Madoff to do what she did when she was hired in 1968 and never did anything differently. He managed to keep the scam going for 40 years.

  85. J.Ross says:
    @Hapalong Cassidy

    It’s an unexpectedly Christie-ish story.

    Edward Doheny Jr. – whom everyone called Ned – was killed in his Beverly Hills home in 1929 by his crazed secretary, who then killed himself. His father, oil tycoon Edward Doheny Sr., was distraught over his son’s death and didn’t want to deal with land in Capistrano Beach that Ned bought a year earlier, so he donated about 44 acres of the undeveloped land to the state in 1931.

    Not the sweetest of stories – but it’s nevertheless how Doheny State Beach became what it is today.

    Doheny – the first California state beach …

    https://www.ocregister.com/2006/06/24/down-doheny-way-for-75-years/

    • Replies: @Steve Sailer
  86. Art Deco says:
    @Hapalong Cassidy

    There was a Matt Doheny who ran for Congress in New York’s North Country about a dozen years back. He was a financial industry refugee, relocated. Reading between the lines, he seemed to have had a career crash and to have a drinking problem as well (citations for operating a boat under the influence). The Republican Party nominated three men for seats in Congress in a short run of years who had citations for some sort of public drunkenness. I’m wondering if this is the same Matt Doheny.

  87. @Trevor

    If one goes by looks, it seems weird that anyone would give money to SBF with his … apparently unkempt overgrown jewfro.

    I think his general unprofessional appearance, including wearing a T-shirt, shorts etc. was a very clear and very bad sign for entrusting money to him.

    In his hair and clothing alone he signaled to the world that he was a non-conformist. As the liquidator and his teams are discovering, as the theme of this topic aptly puts it, this extended to the most basic of business record keeping norms. Not included by our host because there’s so very much, this included even having lists of banks and bank accounts; it would be wild if this drug addled team actually had a bank account somewhere they’re forgotten about with a couple of billion dollars.

    When Thomas Watson Sr. got enough control of the Computing-Tabulating-Recording Company (CTR) or as he renamed IBM, one thing he did because of the very bad reputation of the field which he had contributed to was to make his salesmen dress like bankers. That’s been relaxed in the banking field today, but they still dress professionally, in a way that does not discourage you from handing them cash or encourage checking the cash they hand you for counterfeits.

    Lots of of tells here of the most basic kind. Zuckerberg can get away with a higher level of informal dress (but not all the time) because social media is all about “moving fast and breaking things,” unfortunately the latter including people. But his schemes for a Facebook cryptocurrency never went very far.

    • Replies: @Trevor
  88. Curle says:
    @Alfa158

    “I have to guess the Madoff clients were assuming that he was screwing some one else and sharing the booty with his clients.”

    Or, being Jews themselves, assumed he was scalping the goyim but leaving them alone. Isn’t that one explanation for throwing him to the wolves while providing an comparative protective shield for Epstein and Maxwell (they were pervs! : no need to look into spying).

  89. @J.Ross

    “Edward Doheny Jr. – whom everyone called Ned – was killed in his Beverly Hills home in 1929 by his crazed secretary, who then killed himself.”

    Or vice-versa, according to Raymond Chandler’s recollection of how the story was reported in the LA papers on the first day — scion kills his male secretary, then kills himself — and how it was reported on the second day and ever after — secretary kills scion. Chandler was an oil company executive in Los Angeles at the time, so he read the newspaper accounts carefully. He had Philip Marlow recount the story to explain why he’s cynical about money, power, and the press.

    They were under subpoena to testify about the Tea Pot Dome scandal that old man Doheny was involved in.

    It’s the real life inspiration for “There Shall Be Blood,” but Paul Thomas Anderson, with his genius for not using good plots, left that part out.

  90. anon[343] • Disclaimer says:
    @Jenner Ickham Errican

    I am ready to accept that free will is a myth . That should be applicable to the society – to the collective free will . Thus the process leading to the hanging or crucifying or electrocuting the criminal shouldn’t be even debated .

  91. Trevor says:
    @That Would Be Telling

    Thanks.

    Interesting story about his girlfriend. Apparently she fled from Hong Kong to Dubai.

    CRYPTO KINKO: FTX bro’s ex Caroline Ellison on BDSM, orgies, pills

    Besides her robust thoughts on sex and relationships, she has some opinions on crypto. She called it “mostly scams and memes.”

    https://torontosun.com/news/world/crypto-kinko-ftx-bros-ex-caroline-ellison-on-bdsm-orgies-pills

  92. @Trevor

    BDSM – didn’t know that about Caroline Ellison. – What’s up next to be revealed? – Add all these details and you get a list of things it takes these days to be hide in the open.- This stuff is weird – “here’s flip city” (quote from Twisted. Another one:

    My analyst told me that I was right out of my head
    But I said, “Dear doctor, I think that it’s you instead
    Because I, I’ve got a thing that’s unique and new
    To prove it I’ll have the last laugh on you
    ‘Cause instead of one head, I got two
    And you know two heads are better than one”

    https://genius.com/Joni-mitchell-twisted-lyrics

  93. @Trevor

    Based on her proclivities, she should enjoy Dubai. It’s full of rich Arab men who enjoy treating women like sh*t.

  94. @Achmed E. Newman

    Take the Money and Run!


    Slow down, don’t move too fast.Don’t you want your wealth to last so/ Kick the can filled with pebble stones/ You’re wealthy ‘n’ young/ And feeling groovy!

  95. anon[802] • Disclaimer says:
    @Colin Wright

    Ah, but that’s just pure coincidence, Colin.
    As a very funny black comedian said recently, you get a herd of elephants, a gang of blacks, a mob of Italians, and a coincidence of Jews.

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