Bankman-Fried says he will testify before U.S. House committee | Hacker News Reader

Bankman-Fried says he will testify before U.S. House committee

reuters.com

19 pointsrntn28 comments

They should make each politician present, show a card next to their name with the actual and correct amount of money he has given them.

He wasn't doing his job right unless it was all of them. He may be a scum bag but he knew how to play the game.

The smaller the number the easier it was to buy them off some may have needed $20 mil, some would do it for litterally free, some for an internship for their niece or an invite to the orgy in the bahamas

If anyone has ever watched a committee they are aware that it is normally an ignorant old fart asking about how these internet dollars make clouds all on their own.

https://www.youtube.com/watch?v=ncbb5B85sd0 - these are legitmately the "gotcha questions" that these idiots thought would expose the zuck.

The ignorance is intentional.

Let me totally blow your mind ... its not intentional, its not a conspiracy, its not a series of donations / bribes / underage prostitute photo blackmails.

They are that dumb.

No, they think their constituents are that dumb. And they probably right in most cases.

I've only been vaguely following the FTX drama since it collapsed, but I can't wait for this committee meeting!

With all the incriminating shit he's said, the prosecutors probably already have everything they need... but this will be under oath. No take-backsies!

IANAL, but if incriminating shit has already been said, what's keeping law enforcement agencies and district attorney's from taking it up?

The more they wait around twiddling thumbs, even if the strategy is to build a robust case by using his public statements, the more public discourse starts steering to enforcement not being able to touch supposed elites.

> IANAL, but if incriminating shit has already been said, what's keeping law enforcement agencies and district attorney's from taking it up?

DA's can't charge someone until a grand jury hands down an indictment and the results are sealed until the prosecutor file the charges.

For all we know, a grand jury has already indicted SBF and the DOJ is just waiting for the right time to announce it.

> the more public discourse starts steering to enforcement not being able to touch supposed elites.

I think that ship has sailed.

Twitter thread (https://twitter.com/autismcapital/status/1599466158893432832...) seems to show Caroline (head of Alameda) a short walk from the US attorney's office in Manhattan.

I speculate that his arrest is coming shortly if they can get her cooperation as a witness and evidence.

> the more public discourse starts steering to enforcement not being able to touch supposed elites

The public and their discourse is proof that the average person is a moron.

Looking forward to the indictment but given his wealthy background I'm not holding my breath.

> wealthy background

Having parents who are professors is now a "Wealthy background"? Whats a professor at Stanford rake in - $120k - that is per year not per month. Does that include stock options too?

I wonder how much house that kind of salary buys in Palo Alto.

> Whats a professor at Stanford rake in - $120k - that is per year not per month.

A full professor at Stanford law probably earns between $300k and $600k. Stanford salaries are not public but UC Berkeley salaries are. Search for “PROF-AY-LAW” as the title here:

https://ucannualwage.ucop.edu/wage/

Edit: Since both of his parents are full professors at Stanford, multiply that salary by two. That’s between $600k and $1.2mn a year before taxes.

Pretty embarassing when your own source doesnt even back you up.

PROFESSOR OF LAW 216,983.00

PROFESSOR OF LAW 187,420.00

PROFESSOR OF LAW 176,447.00

PROFESSOR OF LAW 177,420.00

PROFESSOR OF LAW 213,539.00

> Pretty embarassing when your own source doesnt even back you up

That is quite combative. Especially given that all of the numbers that you pasted are well above the $120k that you quoted (from where?) in your original comment.

Salaries vary by location, title, and the outside options of the individual. Here are the first ten salaries that I see for Berkeley. The first number in each row is the gross total:

  2021 Berkeley PROF-AY-LAW 364,403.00 333,000.00 0.00 31,403.00
  2021 Berkeley PROF-AY-LAW 319,002.00 277,083.00 0.00 41,919.00
  2021 Berkeley ACT PROF-AY-LAW 306,489.00 185,933.00 0.00 120,556.00
  2021 Berkeley ACT PROF-AY-LAW 310,961.00 205,517.00 0.00 105,444.00
  2021 Berkeley PROF-AY-LAW 376,450.00 290,450.00 0.00 86,000.00
  2021 Berkeley PROF-AY-LAW 383,400.00 260,500.00 0.00 122,900.00
  2021 Berkeley PROF-AY-LAW 395,038.00 308,642.00 0.00 86,397.00
  2021 Berkeley PROF-AY-LAW 536,833.00 402,000.00 0.00 134,833.00
  2021 Berkeley PROF-AY-LAW 301,407.00 269,208.00 0.00 32,198.00
  2021 Berkeley PROF-AY-LAW 396,965.00 270,508.00 0.00 126,456.00

Note also that the UC system is famously cash strapped relative to Stanford, and that Stanford ranks above Berkeley in law.

Edit: Ah, I see that you searched for “professor of law” without restricting the search to Berkeley. You got salaries for UC Hastings. Very illustrative that even the wrong reference point produces higher numbers than $120k.

According to Glassdoor an associate professor of law makes almost $210k a year at Stanford. That amount doesn't include the connections one makes in that sort of position. Their son will be very well taken care of.

https://www.glassdoor.com/Salary/Stanford-University-Associa...

Google - L3 SWE II(Entry Level) US$179.03K

L4 - SWE III US$253.45K

https://www.levels.fyi/companies/google/salaries/software-en...

So somewhere just after entry level, lets call it a few weeks on the job.

His legal fees the next 12 months will be greater than their net worth.

So... compared to a small group of extraordinarily well-paid elite engineers who work for one of the world's most profitable companies, their income is not exceptional?

Professionals making 200k (a year not a month) at the tail end of their career - that is not at all exceptional.

So are you suggesting that the families of entry level engineers are also immune to all prosecution in the US due to their fabulous wealth?

> Professionals making 200k … at the tail end of their career

Associate is not the tail end. There are three tenure-track/tenured titles in US academia:

Assistant Professor (untenured, usually held for 6 to 8 years)

Associate Professor (usually tenured, and thus held possibly indefinitely, but usually people get promoted to the next level in a few years)

Professor (tenured, also called “full professor”)

SBF’s parents have been full professors for a while. So their numbers are higher than the one the person who replied to you found on Glassdoor.

His parents own a very expensive house in Palo Alto next to Stanford University.

> a very expensive house in Palo Alto

Every house in Palo Alto is very expensive, median house price is $4 mil.

Anything less than 30mil is cheap, and it is 1/10th of that value, (likely) purchased >30 years ago. By the metric of "they have a relative that owns a home that has gone up in value a lot in 30 years" practically everyone is in the untouchable wealthy elite network.

Palo Alto homeowners aren't considered wealthy even by Bay Area standards? Since when? It is one of the wealthiest cities in the world. The fact that his parents own a house that is worth above the $4M median price, which 10x more than the media price in America, means he is from "wealthy background."

Via Zoom or in-person is my question.

And Rep. Maxine Water will probably blow yet another kiss at SBF.

And here is why FTX contributed to slush funds toward politicians in a stealthy manner.

(Someone has made a very thorough chart of all the entities doing the washing of FTX-owned cryptocurrency.)

https://www.mollywhite.net/etc/ftx-contagion

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