Wednesday, January 18, 2023

The FTX bankruptcy proceeding is a topic of interest at website: https://wallstreetonparade.com/

https://wallstreetonparade.com/ 

Specific posting there - here linking over to here

The latter linked proceeding-livestream is noted to be posted Jan 20. The former linked item also links here.

The Wallstreet on Parade site has, per its left sidebar listing, posted much about Sullivan & Cromwell, the mega law firm set to earn large fees from participation in the bankruptcy; most recently, Jan 17 -

A Sam Bankman-Fried Company Loaned or Invested More than $1 Billion in Clients of its Law Firm, Sullivan & Cromwell

The gist of coverage is raising a question of conflict of interest, via that firm representing the bankrupt estate, in all its reaches.

Wallstreet on Parade also is a FED skeptic, a big bank skeptic, and lists its links to its coverage of FED bosses trading activity.

The site authors appear to have better knowledge and investigative reach than Crabgrass; and while critics of much going on, have not been sued for defamation by anybody they have critiqued - as far as Crabgrass knows.

Another interesting post there - https://wallstreetonparade.com/2022/12/sam-bankman-frieds-criminal-trial-judge-is-married-to-law-partner-of-firm-that-arranged-the-ftx-blockfi-deal/

 A different mega law firm than S&C. Hence site authors likely are mega law firm skeptics as well. Skepticism being a refreshing thing, a departure from a norm.

It is a site non-bankers might want to consider, to better understand how money in the nation is run, and who benefits from it.

That website is also a crypto-skeptic, with this posting as evidence of such a belief.

__________UPDATE__________

Bankers are in it for the money. However, they have an interest in sustaining the system's continuity and avoiding utter worldwide economic breakdown and chaos; as we'd expect if politicians such as Bartender Boebert, MTG, or Matt Gaetz were entrusted. Burning down the house, or entrusting and enshrining banker money-lust and cronyism, for continuity, is the quintessential Damned if You Do choice, either way. You go into troubled waters, you might encounter survivable leech attachment, or have an alligator snap you in two. Neither appeals as a choice, while you can stay out of the water but not out of the economy. If you have to trust somebody . . . trust wisely.

_________FURTHER UPDATE_________

If the choice is bankers, or us . . . (image source)