bankman-fried. this was the very same day a house committee held a hearing on the ftx bankruptcy. bankman-fried was supposed to testify before his arrest took place. and according to the wall street journal, he intended to start by saying, under oath, quote, i effed up, which is neither professional nor cute. instead, lawmakers heard from the new ftx court appointed ceo bankruptcy expert john ray. the ftx groups collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced, not sophisticated individuals. there s no record keeping whatsoever. it s the absence of record keeping. employees would communicate invoicing and expense expenses on slack which is, essentially, a way of communicating for chat rooms. they used quickbooks a multibillion dollar companies in quickbooks. quick books?
while this is a first public announcement, it will not be our last. whoa, baby. the fcc and the cftc have also filed civil charges against bankman-fried. this was the very same day a house committee held a hearing on the ftx bankruptcy. bankman-fried was supposed to testify before his arrest took place. and according to the wall street journal, he intended to start by saying, under oath, quote, i effed up, which is neither professional nor cute. instead, lawmakers heard from the new ftx court appointed ceo bankruptcy expert john ray. the ftx groups collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced, not sophisticated individuals. there s no record keeping whatsoever. it s the absence of record keeping. employees would communicate invoicing and expense expenses on slack which is, essentially, a way of communicating for chat rooms. they used quickbooks a multibillion dollar companies in quickbooks. quick books?
and exchange commission and the commodity futures trading commission threw the book at him. the new york court allege he conspired to commit wire fraud. they accuse him of securities fraud, money laundering, commodities fraud, violating us campaign finance laws, and conspiracy charges. today, the bankruptcy expert brought in to manage the carcass of the companyjoth ray told a congressional committee sam bankman fried had taken multiple loans from the company with no or little documentation, and in one case, was listed as both the issuer of the loan and the recipient. this is really old fashioned embezzlement. this isjust taking money from customers and using it for your own purpose not sophisticated at all. sophisticated perhaps in the way. ..they were able to sort of hide it from people, frankly, right in front of their eyes. but this isn t sophisticated
or brown or white, if you repoor poor, you re equally affected.go and to think we re going to divide out those that are transgender and treat them separately, this is the democratdemocrat playbook. they re all about separating america. and so some groups are ica, so more equal than other groups. yeah. and it s all about division. ongo, and of course, we have the ongoing controversy over the cryptome meltdown where the boy oh boy wonder somehow ended sending forty millione dollars on the democrats. the democrats say, oh,ocrats no, no, no, hands on this. trying to avoid any real desire to kind of turn the money back . the bankruptcy expert said today, in forty years ofsaid i running companien gs trying to t them through bankruptcy, he d never seen a disaster like this. a disashe s supposed to talk at the new york times as one of thw their thought leader ys coming e at the end ombf november. all of this is completely indefensible. and imagine ifim thereagine wee a republican 40 million do
washington, part of the washington establishment that s expected to run. i m in this fight because i ve been fighting for working class families before i was a senator, i was a bankruptcy expert. i found it interesting the way she answered that question because she didn t engage on it at all. i think she will more and more. clearly, she wanted to drive that message during her first trip. but even if it doesn t mean something to the candidates necessarily, something they don t want to highlight, it means something to so many people. exactly. i think it will be very interesting to see how she sort of bridges that going forward. right. that s what i m curious about as well. it means so much to so many people who are going to be watching this coverage, to have so many women running, to have so many african-americans and hispanics running. it is a monumental change in our policy. to david s original point, there will be stories that will need to explore that.