Is Anyone Safe From FTX Fallout?

Tucker argues Sam Bankman-Fried was “considered a moral leader as he was ripping off millions” with a biz model echoing Enron’s. WSJ says FTX auditors & celebs like Tom Brady doubled as “Crypto Cheerleaders”? WHY?

Concluded the Fox anchor: All that moolah aside, “It is the story of the complete & utter corruption of the people who run our country.” That’s because, he says, “the very people who should have been covering & regulating & reining in FTX & its 30-year-old founder … were instead profiting from this scam, not just a few of them, nearly all of them – from the news media paid off by Bankman-Fried; to the leadership of the Democratic Party, also paid off by [him]; to the chairman of the Securities & Exchange Commission …” It’s quite an indictment by Tucker. Even if exaggerated, it’s not going to change the flood of lawsuits that will likely be filed. White Shoes law firms in NY & DC can still be heard popping the Champaign bottles as big billable hours paydays are envisioned. As Reuters reported, Celebs who promoted FTX, like NFL legend Tom Brady & NBA legend in waiting Steph Curry, have already been made defendants in a class action suit.

And, while establishing blame let alone liability will likely take years to sort out, Tucker nails why it’s understandable the folks who were suckered out of their money are really P***** enough to sue: “The collapse of the cryptocurrency exchange FTX is … a history changing event. It may turn out to be the biggest single-day loss of assets in the history of money. Billions of dollars evaporated in just moments & it’s still not clear what happened to a lot of that money. It just disappeared & as it did, it sparked a growing financial crisis across entire sectors of the economy, a disaster that quite possibly could get very worse” by way of triggering a potential “global recession.” Can anyone say: P-O-N-Z-I?

Davd Soul