Multiple Mansion Maxine Waters Wants Financial Oversight After FTX Malfeasance Derails The Democrat Crypto Gravy Train
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Photo Credit: Newspunch
By Stan Szymanski
In the CNBC article, ‘Washington turns up heat on crypto ‘darling’ Sam Bankman-Fried following FTX bankruptcy’ the author Brian Schwartz highlights the point that, in light of the FTX collapse, the Cryptocurrency space needs more oversight:
…’The company’s implosion has led to the Biden White House and two powerful Democratic committee chairs to publicly criticize FTX and call for tighter oversight of the broader industry.’…
One of those Democratic committee chairs is Representative Maxine Waters:
…Rep. Maxine Waters, D-Calif., chair of the House Financial Services Committee, is considering opening a congressional inquiry, even possibly calling Bankman-Fried to the Hill to testify about the company’s near collapse in the coming weeks, according to a committee aide who requested anonymity to discuss private deliberations. Democrats are at risk of losing control of the House in January, depending on the outcome of several key races that haven’t been called yet.
“Now more than ever, it is clear that there are major consequences when cryptocurrency entities operate without robust federal oversight and protections for customers,” Waters said in a statement Thursday.
Isn’t it heartwarming that Representative Waters is so concerned about ‘protections for customers’ after the cataclysm has taken place and now the whirlwind is set to be reaped by the unsuspecting?
Rep. Waters was also concerned about ‘major consequences when cryptocurrency entities operate without robust federal oversight’.
Was FTX operating without ‘robust federal oversight’? Take a look at this picture and let me know if you think that she, the chair of the House Financial Services Committee, had an idea of what FTX was all about:
Photo credit: Zero Hedge
Why, my goodness, here is Maxine Waters in the same room and literally in the arms (at least one arm anyway) of FTX (now former) CEO Sam Bankman-Fried (SBF). Politics, as it has been said, makes strange bedfellows. Perhaps it can also be said that generous political campaign donations make willing bedfellows.
Sam Bankman-Fried was the second largest Democratic campaign donor during this election cycle to the time of 39.8 Million Dollars, only behind George Soros (approx. 128 million dollars). Two of his deputies at FTX, his cryptocurrency exchange–gave nearly $29 million more.
…’Bankman-Fried has supported Republicans during this cycle, primarily through his $2 million contribution to the blockchain and cryptocurrency-focused GMI super PAC. But the bulk of his giving, including $27 million to the Protect Our Future super PAC and $6 million to the House Majority super PAC, has gone to support Democrats. Bankman-Fried told Forbes last month that “much of this was for primaries, rather than D vs R general elections” ($33 million of his contributions were made during the first four months of 2022.)’…(Forbes/Zach Everson/11/11/22)
So the powerful Democratic Chairwoman of the House Financial Services Committee now says there has to be more oversight of crypto after the Democrats received millions through the ‘Protect Our Future’ SuperPAC. ‘Protect Our Future’ alleges to have an agenda …’to help elect candidates who will be champions for pandemic prevention’… Protect our Future is endorsed on their website by 27 politicians-26 Democrats and 1 Independent. I guess that there are no Republicans who would like to take money to be a ‘champion for pandemic prevention’. At a cursory glance, these Democrats seemed to have been overwhelmingly victorious during their election bids.
Let it also be considered that generous political donations can lead to political victories. I assume that Representative Waters knows all this.
Given the fact that it was the Democrats who benefitted overwhelmingly through their one or two degrees of separation from former CEO Sam Bankman-Fried of FTX, a broad Cryptocurrency conglomerate of approximately 130 companies-Isn’t it a bit like the Copperhead calling the Rattler a venomous snake when Waters calls for more regulation? The Democratic Chairwoman calls for more regulation of crypto when many of the Dems still had the fresh crumbs of the SBF dainties on their Versace suits and Prada shoes as the last cookie was taken from the cookie jar (benefits of the SBF crypto money)-Isn’t this just a Potemkin Village of vultures masquerading as ‘pandemic do-gooders’?
Now that we have learned that the funds that the US voted to send to support the Ukrainian war effort was in reality then sent from the Ukrainians into FTX and is reported that according to some observers, back to the Democrats.
…’It __seems__ Ukraine was receiving money from the US, Ukraine sent it to FTX, and FTX sent it to Democrats, who originally voted to send it to Ukraine. At this hour, it __appears__ to some observers, to be pure, criminal, money-laundering, and a criminal conspiracy to violate campaign finance laws.’… (Hal Turner Radio Show). Did the chair of the House Financial Services Committee know this information before it was reported on The Hal Turner Radio Show website?
Does Maxine Waters want to protect the American investor or does what she really want is to control the FTX and Ukrainian narratives before they start to burn out of control like a prairie fire? As Americans what we really need is protection from people like Maxine Waters who meet and photo op with Crypto billionaires, who own multiple million dollar mansions and who apparently get their palms greased one day and on another tells us all how sour the grapes are when the squeeze from the Crypto biz isn’t what it used to be when malfeasance derails their misbegotten gravy train.
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Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
