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Re:Bankman-Fried used $100M in stolen FTX funds for politica... by crazygringo on Monday August 14, 2023 @09:01PM (#37128856)
It's quite common for politicians to return money that is stolen/foreign/otherwise when they find out.

Sometimes because the law requires it, but also if they don't, the attack ad for their opponent writes itself.

Although obviously it depends on how much time has passed and whether the money should already be considered "spent". Because even if the politician wants to repay it, new donors want their money going to re-election activities, not going to repay FTX. After a period of time, you might as well be asking the television stations to return the money they received for running the campaign ads, which... isn't gonna happen.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by preommr on Monday August 14, 2023 @09:34PM (#37129096)
> but also if they don't, the attack ad for their opponent writes itself.

Does this even matter anymore? Seems like people are so tribal that they'll vote for their party no matter what, combined with lots of voter apathy makes it seem like it doesn't matter.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by BoxFour on Monday August 14, 2023 @09:35PM (#37129109)
Your political opponent may very well be someone from your own party.
Re:Bankman-Fried used $100M in stolen FTX funds for politica... by reaperducer on Monday August 14, 2023 @10:16PM (#37129375)
Does this even matter anymore? Seems like people are so tribal that they'll vote for their party no matter what, combined with lots of voter apathy makes it seem like it doesn't matter.

If that was true, there would be no such thing as swing states.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by lacrimacida on Monday August 14, 2023 @09:20PM (#37129000)
> Because even if the politician wants to repay it, new donors want their money going to re-election activities, not going to repay FTX. After a period of time, you might as well be asking the television stations to return the money they received for running the campaign ads, which... isn't gonna happen.

Politicians should be made to pay out of their own pockets or have an insurance for this type of situation.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by wongarsu on Monday August 14, 2023 @09:34PM (#37129100)
> Politicians should be made to pay out of their own pockets

We don't want to create a system where only the rich can afford to be politicians ... or at least we don't want to make that any worse than it already is

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by lacrimacida on Monday August 14, 2023 @09:42PM (#37129149)
Well, they should know their sources and assume some responsibility, which they mostly lack these days.
Re:Bankman-Fried used $100M in stolen FTX funds for politica... by threeseed on Monday August 14, 2023 @10:23PM (#37129418)
Easy to say it now but there was a period there when FTX was a reputable company.

But I would be all for labelling the entire crypto industry as illegal and ensuring any donations are immediately returned. Maybe just to be safe we should add anything AI related to the list as well.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by l33t7332273 on Monday August 14, 2023 @09:43PM (#37129154)
Would that make it worse? The median net worth in the senate is north of 40 million.
Re:Bankman-Fried used $100M in stolen FTX funds for politica... by newaccount74 on Monday August 14, 2023 @10:05PM (#37129296)
> Politicians should be made to pay out of their own pockets or have an insurance for this type of situation.

Why stop at politicians, though? Shouldn't everyone who accepts large sums of money be held accountable if it turns out the money was stolen? At least to some degree?

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by hunson_abadeer on Monday August 14, 2023 @10:15PM (#37129368)
Does this include line employees who worked at Google or Facebook or Microsoft if the company is found liable for doing something sketchy?

The sums sure are substantial. You can argue they know their employer was no angel, too. OK to claw back paychecks, or do we draw the line somewhere closer to actually participating in a criminal act?

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by BoxFour on Monday August 14, 2023 @10:16PM (#37129372)
Does that not hold true at present?

As a straightforward instance that arises periodically, if a bank were to erroneously deposit funds into your account you’re under obligation to return the funds.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by tcmart14 on Tuesday August 15, 2023 @11:10AM (#37134943)
I think it depends on what we mean by 'held accountable.' If it means, make best effort to return the money sure. If it means more than that, probably not. If someone robbed a bank, evaded the police and donated all that money to the Salvation Army in the next county, the Salvation Army has no way of knowing the money was stolen. So the only fair thing to expect the Salvation Army to do in this situation is, make a best effort to return what they can.
Re:Bankman-Fried used $100M in stolen FTX funds for politica... by snickerbockers on Monday August 14, 2023 @09:30PM (#37129071)
Even so, the punishment for most crimes is more severe than merely reversing the effects of the crime.
Re:Bankman-Fried used $100M in stolen FTX funds for politica... by BoxFour on Monday August 14, 2023 @09:33PM (#37129095)
Accepting illegitimate funds without awareness doesn't appear to be a criminal offense, based on my understanding (short of falling afoul of money laundering). The punishment typically just involves returning the funds.

Unless there's compelling evidence to definitively demonstrate their awareness of the funds' misappropriated source, it seems challenging to establish grounds for substantial punitive action in this situation.

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by harry8 on Monday August 14, 2023 @09:52PM (#37129203)
> you might as well be asking the television stations to return the money they received for running the campaign ads, which... isn't gonna happen.

The PACs should have to return it and if they can't they're declared bankrupt and everyone associated with running them should be barred for 10 years from involvement in political donations in all forms.

Why are PACs lawless relative to the rest of us, do you think?

Re:Bankman-Fried used $100M in stolen FTX funds for politica... by duxup on Monday August 14, 2023 @09:53PM (#37129215)
I remember someone making out checks to political campaigns from various horrible organizations as a bit of a stunt.

I was surprised how many returned the checks.