Rise, fall of Sam Bankman-Fried, FTX at center of Michael Lewis' new book | 60 Minutes

Not mentioned: at Jane Street, his first trading job, he left after a loss of $200 million, a record loss. He stank.

Tripe.

Letter to the jury. Terrible. If SBF doesn't spend the rest of his days in prison it will be the biggest heist in history. Crook. I don't care what you call it.

Noooooooooooo! A jew ripped off investors?
😐

No crime Sam saved democracy. Trumps fault for the collapse of FTX. What a joke of a book

Is there some sort of pattern here ...Sam Bankman-Fried, Madoff, Belfort, Maxwell , Philip Green , ETC ETC ETC ..... Just can't think what they all have in common ??????

The spin is in effect. He has been told to write this book.

SBF getting his pole polished for close to 30 minutes here....

Sam had his chance to do so much good in this world but he blew it and instead he wanted to give all these millions of millions of millions of dollars to these already rich people like Steph Curry and Tom Brady, and all these other celebrities that are already ultra richso ridiculous. He use that money and built homes for so many homeless people help people that were sick and had cancer but he didn’t care. It was really all about him.

He knowing stole client money, but Michael Responded " No". Sam knew about it. He is a crook.

Really bad & biased take by 60 Minutes. Michael Lewis is also biased & the entire Liberal Mainstream media is trying to help Sam Bankman Fried only because he was running a Ponzi scheme to pay for the Democratic Party elections. Shameful that the video highlights the corrupt Republican Mitch McConnell show GOP in bad light but see no visuals of Democratic Party leaders like Maxine Waters & so many others to whom Sam & his PARENTS donated Billions of dollars. The media loves to throw the GOP names in there, but GOP merely got 5-10% of all his donations & they were all the Establishment DC corrupt politicians who were all anti-Trump. Sam's Parents were his Board of Directors - both law & Tax professors from Stanford University no less - both close aides of the Democratic Party (Father was the legal & Tax advisor to Pocahontas Senator Warren). Another Fake & shameful episode by the once great 60 minutes. I had such a high regard for Michael Lewis. What a shame.

Well….he didn’t start with nothing

60 Minutes really?

Just finished the book. I definitely feel that Michael Lewis downplayed the crime of SBF. Michael pictured him as a nerd and genius at the same time, and the tragedy happened while SBF was kind innocent in the process. I found it is a bit unusual when the trail is still on going while the book has already published.

I've watched several of Michael Lewis's interviews, including this 60 Minutes segment. But the most telling one is his interview in "Booked Up with Jen Taub" podcast. The host is Jennifer Taub, a former lawyer and Harvard & Yale graduate who currently works as a law professor.

In the interview they briefly discussed Jeffrey MacDonald vs Joe McGinniss case. McGinniss is the writer of Fatal Vision, a book based on a true crime story where MacDonald was accused of killing his family. In the middle of writing the book, McGinnis concluded that MacDonald was guilty, even though the trial had not finished yet. MacDonald gave permission to McGinnis to write the book and have him access to his belonging, interviewing him, etc. But McGinnis didn't keep his mouth shut. He published his conclusion that MacDonald was guilty, and MacDonald sued him because of it. The case was settled out of court, implied that McGinnis had to pay a significant amount of money to MacDonald.

In the interview, Jennifer Taub also mentioned that as a former lawyer, she could see a lot of red flags (she mentioned them as 'breadcrumbs') in the book, which lead her to make a conclusion, although there is no conclusion clearly stated in the book. In an episode of the 'Judging Sam' (a Pushkin Industries podcast), Matt Levine, the famous Bloomberg columnist, also mentioned that he was more convinced that SBF was guilty after reading the book.

Based on the above, I think Michael actually thought SBF was a fraudster. The most telling clue is that Michael only invested a relatively small amount of his personal fortune in FTX (only $2,000), a clear sign that he didn't believe in the business. However, because he was given access by SBF and does not have a concrete proof, he couldn't disclose his conclusion without risking being sued.

Michael knew this limitation since the very beginning, but he was willing to bear it in exchange of an access to SBF life, which no other people could have. As a consequence, he could only use one perspective in writing the book: the perspectcive of an observer. And he did just that.

He’s a crook nothing more.

Propaganda! Mass media propaganda!

Man what is with some people and Sam Bankman-Freid? Its like they need to believe in him as this financial vunderkind when no hes just a fraudster, and a really bad one at that.

so painful to watch/listen to this guy 🤦🏻

And he calls himself a journalists… all he cares about is his own net worth. And watching him say it was a good business until a run… so hard to watch him make millions off other people loosing everything

The author asks, was SBF a crypto con man or just unequipped to manage a business? I think both can be true.

I’m guessing the thing about trump accepting 6 billion not to run is a made up lie by SBF…..

I like how 60 Minutes frames his political contributions as a "Republicans are a threat to democracy" when this con artist was literally the second biggest funder to the democratic party using LITERAL STOLEN MONEY.

Prosecutors in Bankman-Fried trial compare defense argument to 'Dumb and Dumber' ... so this is why the media and Democrats had such affinity for this blowhard.

No doubt Sam became a compulsive gambler or a compulsive trader with his customer's money, continuing all the while he was allegedly running a massive fraud at the crypto exchange. He was addicted, and it seems like he has very little remorse for losing customers money, except to say, "I f_ _ked up!"

how much he got paid?

These guys are “journalists”. lol no wonder msm is such bull$hit.

Blinded by the bright light of deceit.

SBF was not running a Ponzi scheme. He is just a naive trader who needs a basic class in Risk Management 101. Don’t worry about your winners, take care of your losers. I disagree with Lewis that there was no risk. It’s just that Sam never understood the risk and so did rest of the circus around him which includes his customers.

"People...actually willing to govern". Meaning do the SOS that gets the country into endless wars, increases the debt, continues to divide the country and favors rich over poor so long as they are the rich in wealth or power or both. F this guy. And he remains giddy over SBF who is nothing but a smart, doughy fraud. Perhaps Lewis can continue his jock sniffing relationship when Sam goes to the prison he so richly deserves and even pull the train for Sam when he needs a break.

Cast Ben Schwartz for the movie!!!

The one thing I learned from this interview was not to buy the idiot's book. 60 Minutes really scrapped the bottom of the barrel on this interview.

SBF charmed Lewis.

Sam has a problem of shaking his leg constantly. In the Asian culture that means you shake your money away. Shake your money and everyone else’s too. Bad.

Oh, he's just a quirky tech nerd.
Michael Lewis didnt get this gig by chance. London School of Economics, Ivy Club, Salomon Brothers, Berkeley......he's an insider who knew this was a grift from the outset.
This man is an apologist for SBF and therefore his parents, the Clinton's and every other fraud that was involved from the outset.

When he said they tried to contact Mitch McConnell for a comment but didn't respond... 😂

Wow, what the he'll is this? The absolute bull crap. This is about his fall?

MSM seems to be reading the Talmud

Propaganda

Michael Lewis lost all integrity

A a letter to the Jury? Aren't they suppose to be impartial?

Objective journalism is dead folks.

What a coincidence...I just tripped and happened to write a book as well. And I'm gonna release also on the same day as the start of the trial for my friend...er I mean 'subject'...after accidentally spending hundreds of hours with him.... amazing. Michael can't hear you over the sound of how awesome he is to himself.

How can Lewis actually support SBF! He was and is a total conman, along with his Parents!

There are no saints in finance.
Because he's a crook.

Well I won't reading this book anymore. I was so hyped. 😐

Waitress: "How do you want your Sam Bankman sugar? Baked or Fried?"
Me: "I will have the Sam Bankman...Fried, please."
Waitress: "Y'all aren't with that Cabbage-patch lookin' woman, are ya?"
Me: "Caroline Ellison? No ma'am."
Waitress: "Good!"
Waitress: "Not only did she steal billions, but she's a snitch, too. I'll get her a separate check"
Me: "Noted!"

Would love to see the number of dislikes on this video.

Interesting that the only political contributions they mention are to Republicans. He gave more than 6 million to Democrats.