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by keiferski 905 days ago
I.e. the fraud isn't made worse by the fact it was turned into donations

Not sure how that's true. If he scammed a bunch of people to buy a boat, that's one thing. If he scammed people and then directly influenced a very close election, that seems a little worse?

1 comments

I don't think it makes the scam worse.

For example, imagine this was the test case that people wanted to push on campaign finance reform. Politicians finally give in and say "yeah you know you're right, this was really wrong. From now on, funding campaigns via dark money channels with stolen money is punishable by death."

Is campaign finance fixed? Did we make any meaningful progress on any actually meaningful problem?

Fixing campaign finance is a separate issue from the particular scenario that played out. I don't see how that's controversial or confusing.

As I said, this seems like a particularly relevant and influential example, considering that it affected a close election.

What would "good" look like for you?
Good what?
An adequate handling of the campaign finance component. You're expressing that the handling/reaction/attention toward this facet of the SBF case is inadequate. What would've been adequate to you?
Who did FTX/SBF fund, how close were these elections, what other political consequences were downwind of this? Who would have potentially won without the funding?

From a Time article:

Bankman-Fried contributed more than $70 million to election campaigns in less than 18 months, placing him among the nation’s top political donors. He personally gave at least $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, making him the second overall top donor to Democrats, only behind George Soros, according to the Center for Responsive Politics.

Bankman-Fried also donated a significant amount to fundraising committees and super PACs affiliated with both parties. The biggest single recipient was Protect Our Future, a Democratic-aligned super PAC that claims it was “designed to help elect candidates who will be champions for pandemic prevention.” The group received $27 million from Bankman-Fried, and supports effective altruism, a philanthropic movement premised on the use of reason and data to allocate money, which Bankman-Fried also supports. Beneficiaries of Protect Our Future include Carrick Flynn, who lost a Democratic primary in Oregon’s 6th District, George Rep. Lucy McBath and Texas Congresswoman Jasmine Crockett.

The former crypto king made one of the largest donations to Joe Biden’s presidential campaign in 2020, contributing $5.2 million, according to the Wall Street Journal.

https://time.com/6241262/sam-bankman-fried-political-donatio...

So again, you're telling me that this guy stole money from regular people and then used it to support a candidate that ultimately won the election? How is that not the single biggest aspect of this story and a daily headline for the last two years?