FTX DONATIONS BELONG TO INVESTORS
Why The Left Should Give Back the Money
Your Rights with Stolen Goods
Say you bought a used car in great shape for an amazing price. Then, the cops come and tell you the car was stolen. You have to give it back, right? Even though you were a victim (and won’t get your money back), it isn’t your car. The same situation applies with anything a person obtains when the person offering it had no right to sell, give or donate it.
When it is discovered that a politician has gotten money from a disfavored source or a foreign country, they must return it, not just for their reputation. The law states what money can be donated and what cannot be accepted. Shouldn’t those rules apply in EVERY case?
FTX and Bankman-Fried
When I trust someone to invest with, I do a lot of homework. I can see where people got snowed by some of the big names – they had years of expertise and experience behind them. But this guy? He’s such a frat boy, bubba and useful idiot all rolled into one. However, it’s tough when people feel like this is an easy way to make money in difficult times like we’re in.
I wasn’t surprised at the crash. There have been too many warnings that investing in cryptocurrency isn’t all that safe. Watch out when governments try to force you into their crypto schemes, which they are trying to do now. How well do they do anything that the private sector can’t manage? However, no matter what he says, Bankman-Fried is a snake and he should go down in flames. I can’t believe people (including his parents) paid his bail.
Donation Frenzy
As part of his concept of “effective altruism,” Bankman-Fried was incredibly generous to politicians. In the past two years, he donated almost $38MM to candidates and PACs, mostly Democrat. Other executives donated another $32MM. A lot of it ran through the Protect our Future PAC, which had as its charter the goal of preventing future pandemics. (Idea: obliterate all Chinese research labs as a start).
But none of this was Bankman-Fried’s money to donate. It was investors’ money and as such, was basically stolen from them. Now, some of the politicians who benefited from his largesse are saying they will donate (or plan to donate) the money to their favorite charities. If I embezzled money and gave it to you, could you make it right by giving that money to a charity? Of course not. You’d probably turn it over the police so, in the best-case scenario, the money could be returned to the real owner.
Some of the people thinking donation is the right option are:
According to media reports, Democrats who have chosen to donate FTX contributions instead of returning them to the failed exchange are:
Election Denier Rep. Hakeem Jeffries (D-NY)
Rep. Pete Aguilar (D-CA)
Sen. Cory Booker (D-NJ)
Sen. Joe Manchin (D-WV)
Sen. Debbie Stabenow (D-MI)
Sen.-elect Peter Welch (D-VT)
Rep. Josh Gottheimer (D-NJ)
Rep. Salud Carbajal (D-CA)
Rep. Joe Neguse (D-CO)
10. Rep. Josh Harder (D-CA)
11. Rep. Kim Schrier (D-WA)
12. Rep. Ritchie Torres (D-NY)
13. Sen. Tina Smith (D-MN)
14. Sen. Alex Padilla (D-CA)
15. Sen. Dick Durbin (D-IL)
16. Reps. Chuy García (D-IL)
There is a bankruptcy officer charged with trying to find the money and, if successful, return some of it to the investors. Why not just send the money to him? If found guilty of fraud, which is pretty likely, these politicians would have to return the money. But it’s the right thing to do, even if he manages to dodge the legal bullet.
A Test of Morals
Do you consider yourself a moral person? What do you do if you buy something that turns out to be stolen, find someone’s wallet on the ground or get undercharged at a store? Most of us would do the right thing and not profit from a mistake. I believe holding elected officials to an even higher standard is required here. It would be great if they were compelled to return the donations, but even better if they understood that this isn’t their money and it is wrong to do anything but return it.
Let’s hold them accountable for their acts. Spread the word and see if it doesn’t leave a bitter taste in peoples’ mouths to discover the greed and immorality of our politicians.
