The story he tells himself, which I don’t think anyone believes, is that alameda had hugely positive net assets, so until that went south he “hadn’t taken anything”? We know now they were hopelessly intermingled and poorly tracked from the start. But that’s what him and Lewis believe I guess?
February 21, 2025 at 1:05 AM
The story he tells himself, which I don’t think anyone believes, is that alameda had hugely positive net assets, so until that went south he “hadn’t taken anything”? We know now they were hopelessly intermingled and poorly tracked from the start. But that’s what him and Lewis believe I guess?
Which is why we all generally only buy illiquid assets with non callable fixed term loans…. “I borrowed short term and bought long term and blew up” is … basically what we all already knew happened?
February 21, 2025 at 12:53 AM
Which is why we all generally only buy illiquid assets with non callable fixed term loans…. “I borrowed short term and bought long term and blew up” is … basically what we all already knew happened?
It’s deeply rational and fact based, not a convenient new thing that we can desperately hope will free us from our current self inflicted inability to hire/retain assistance
January 16, 2025 at 3:57 AM
It’s deeply rational and fact based, not a convenient new thing that we can desperately hope will free us from our current self inflicted inability to hire/retain assistance