An FTX Victim Speaks Out | Judging Sam: The Trial of Sam Bankman-Fried | Michael Lewis
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- Опубліковано 8 вер 2024
- Voices of the victims of Sam Bankman-Fried’s alleged crimes have been few and far between during the prosecution’s presentation of its case. On today’s show, Lidia Jean Kott sits down with Jake Thacker, a tech worker from Portland, Oregon who borrowed money to bet big on FTX, only to be left holding the bag. He says he’s now bankrupt and unsure whether he’ll be able to keep his home.
This conversation was recorded on October 23.
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Michael Lewis has published many New York Times bestselling books, including The Fifth Risk, Flash Boys, and The Big Short. Movie versions of The Big Short, Moneyball, and The Blind Side were all nominated for Academy Awards. He grew up in New Orleans and remains deeply interested and involved in the city but now lives in Berkeley, California, with his wife, Tabitha Soren, and their three children. Against the Rules is first show with Michael Lewis as the podcast host.
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BAD form for Lewis here. The fact that he is absent from this discussion with a victim mirrors his morally blind love affair with SBF. Lewis is showing himself to be an absolute cynical elitist with apparently little empathy for the common man. Jonathan Heidt has talked about disgust being a core human emotion. Lewis's behavior throughout has helped me understand this concept.
Can't disagree but giving Lewis benefit of the doubt. Will watch how this unfolds. Hopefully, a sense of insight & wisdom will unfold.
You can hear the anguish in his voice. He should have taken the stand instead of the other victims put out by the prosecution.
poor soul. good for him for speaking out, and i really hope he is able to recover at least some of his money.
Borrowing money to place it on investments, i.e., to make risky bets 🤦🤦🤦. This is how you create The Great Depression.
Now I am terrible at math, finance and everything in between. But it does not make sense to take out a loan to invest it in something as unpredictable as crypto. And why yes, Discover and Chase are both multi billion dollar companies, of COURSE they will want their money back? Did he think they would be like womp womp and move on ? If they did everyone would take out a loan and not pay it back…. I feel bad but jesus christ man.
Borrowing money to make speculative investments is just a bad decision. SBF and all involved regardless of legal consequences will always be looking over their shoulders
This is terrible. No one deserves this. I always thought crypto was bs, but no one should have their life destroyed because of errors in judgment.
I hope that he can recover and heal.
.
Of course people "deserve" to have their lives destroyed by errors in judgement. The "victim" bought into the "get rich quick" ethos so common among millennials and Gen Z.
" Any smart thinking "investor " will come to the realization that ALL crypto is a scam After Terra Luna, Celcius, and Voyager how could anyone with a brain in their head NOT
realize that something is amiss
This idiot put ALL of his savings into one pot.......that in itself tells us he is VERY stupid.
Never put invest all of your money in one thing.
Blaming Chase and Discover for wanting back the money you borrowed from them in good faith to make a risky investment? Not their fault. Yours.
Sam should be punished so his crime should be made an example.
Heartbreaking to hear this man’s plight.
Ayyayyayyayyay.These people were borrowing money so that they could invest？？Or bet, as the video describes. At that point, I'm not sure I can feel sorry for them anymore.
People borrow money to invest all the time: it's called a mortgage, or a student loan. Or in the "normal" investing world it's called investing on margin. The investment was bad, sure, but it's not out of the ordinary, and it's no reason to start victim blaming.
@@afrymusic Big difference between taking a mortgage to buy a home and borrowing to gamble on crypto.
@testpattern701 There sure is. There's also a big difference between borrowing money to gamble on crypto and borrowing money to invest on an exchange which was, for all intents and purposes, marketed as a safe, reliable, and trustworthy place to invest. Big name celebrities touted FTX as genuine and trustworthy. Stadiums were renamed. Superbowl ads were purchased. And innocent people got fucked.
I think there's one person to blame for the harm that has befallen this poor guy, and that person is Sam Bankman Fried.