Bankman-Friend and his parents are the furthest thing from criminals that could possibly exist. We're witnessing what happens when a false narrative takes hold of people's minds. The guilty party is Coindesk for causing the bank run on FTX with wild accusations about SBF. Lets not forget SBF legitimately made several billion dollars of his own money. I think somehow the prosecutors are regarding that money as "customer funds" when it clearly is not. In a perfect or at least more just world, Coindesk are the one's liable for any customer losses that resulted from FTX bankruptcy.
So basically SBF's mother's relationship to ethics is equivalent to his father's relationship to taxes. He specializes in tax law in order to avoid paying taxes and she specializes in ethics to avoid being ethical.
@@chillphil967 nailed it. inspires moi to have my son attend Standford. His great grandfather attended. Sooooo, he can check the elite box that a direct relatives attended! (ok, he was one of the last Ministers in the old Chinese dynasty, but hey, a girls gotta do what a girls gotta do!!
Hell yes, the parents knew and took part in this scheme. The betrayal of public trust by two Stanford professors is outrageous -- yet according to NPR, "Fried now has emerita status at Stanford Law School; she has stepped back from teaching. Bankman is on leave. A Stanford spokesperson said they both remain on the faculty." Yes, condoned by Stanford, this "family business" was intended to defraud the public. I hope that in the name of justice, all family members are charged with crimes, and if they are found guilty, are made to pay reparations and do prison time. And shame on Stanford for retaining them on staff!
Well, just look at how they handled the scientific fraud committed by their former president, Marc Tessler-Lavigne. He stepped down, but, of course, he’s still on the faculty. They should’ve know he was trouble when they saw how many names he had. Just remember folks: you can’t trust anyone with more than one surname.
Imagine someone takes your money and gifts it to his parents. When you ask his parents to return the money, they decline, stating they need it for their son's legal defense because you're suing him for stealing the money he gave them. You are literally financing the thief's legal team.
exactly the same happened with the billion dollar tax fraud scandal in europe. Apparently tax authorities around europe did not do any checks whatsoever, when someone requested to get refunded prepaid tax from stocks. Its a stupid thing to explain, but essentially sometimes you automatically pays taxes on your stocks, with the risk of it being wrong because of country. Its usually just a question of which country is supposed to get the tax. So these guys just send in requests for billions of dollars over the years, and tax authorities just paid them, no questions asked. In many cases, they did not even own any of the stock in question. Still able to get refunded tax :D When it comes to get the money back, the states are up against a wall. For example one dude made a deal to pay a third of it back if Denmark did not pursue a lawsuit. Tax authorities accepted. :D :D :D :D Its extremely stupid, how if you are just rich enough, its almost impossible to win a case like this against you, without taking a massive loss in legal fees. So essentially just steel enough money and you are almost untouchable , and the government will even agree for you to keep most of your loot .......... :D .........
@@jonaswox and my guess is most of these types have four Passports in three different names, so they can "bail" to back home and since it's a "civil" matter, not criminal, they won't get even an attempt at extradition, IF their home country even HaS an extradition Treaty.
The fact that Barbara Fried is still saying that her son, SBF, did nothing wrong is astonishing. This family is not looking good and even Stanford is circling the wagons. Greedy corrupt institutions will always find a way to justify misdeeds.
@@c-pjawa2759They have said they would return it but hasn’t been accomplished. Keep in mind they got FTX funds in large amounts over a couple of years not one lump sum.
Sounds like another pair of those hardbitten anti-goverment cynics that are so popular nowadays. They rail that rich people and politicians can get away with anything, proceed to commit crimes themselves and melt down when it inevitably falls apart. Every time I hear them spout nonsense it's like watching an imminent car accident in slow motion. You're like, go ahead and try it then, see what happens. They either don't have the cajones or this happens.
Imagine going into debt of hundreds of thousands dollars to pay Stanford scholarship just to be lectured by these crooks. I think their students should be eligible for a refund.
That might be the realistic thing I've read all day! Since miss freid likes to blame bad outcomes on circumstances, upbringing and influences so much, can the students blame her for their debts or possible unemployment?....
Lol. People at Stanford don’t really have debt cause they are rich or they are poor. It’s free if you come from family making 100k or less. Then it’s fairly progressive too
Remembering Leona Helmsley who famously said "only little people pay taxes" looks like the Bankman Fried family took a page right out of her playbook One of their main focuses was to avoid taxes with their "gifting" of 10 Mill and 19 Mill property scheme. Yah Barbara Fried is the perfect person to teach an ETHICS class at Stanford.
It’s a sign of our times that Patrick Boyle’s videos are more entertaining and informative than anything put out by Hollywood, New York Times, PBS, BBC, etc. Thanks Patrick. ❤
Patrick Boyle is an absolute master of passive aggressive humor. "Actor Kevin O'Leary", "That's is because philanthropy always becomes a struggle for the bankrupt" and "Unlike some of FTX's other executives (shows picture of kindergarteners)"
Btw Kevin O’Leary hasn’t criticized SBF to this day. O’Leary either doesn’t want to anger SBF thinking SBF will reveal something about O’Leary relating to fraud or,,,, never mind there is not “or” because that’s it.
I live in Palo Alto and my wife worked at Stanford for a long time. We can both totally see how these parents were complicit given the culture at the school. A lot of it is just a veneer. They should be in jail too.
I’m from Los Altos and had family/family friends who worked at Stanford, I’ve spoken to a few of them about this and they said they weren’t surprised. People in high positions get arrogant, especially when money becomes involved in things.
@@deedeeramone34I’m surprised. The people I know at Princeton have an “honor code” that they contribute to and follow. They’ll stick by it even if it bites them in the ass. For example, they have a free speech clause, and have explicitly punished people *they agree with* for trying to go against that. Maybe it’s just a California culture thing? These people are also scientists-so maybe not quite as bad as lawyers?
@@jacob9673Dude. Do you need a list of people from Princeton that have violated ethics codes and committed similar behavior? Youre blind as hell if you genuinely think its just a magical California thing that people are corrupt.
2 sociopathic parents raised a sociopathic son, not very surprising. Of course they believed they would get away with it, they were the "smartest guys in the room".
@@johnanon658 There were a sizeable number of Jewish people associated with this scam. I'm not antisemite, but this aspect of the case is quite noticeable.
I see a lot of academics are like that. That's why you see them as analysts and contributors to [insert favorite 'news' show here]. All to add credibility.
They were a very bad influence. Sam was paying his father $200k a year. His father send Sam an angry email saying that wasn’t good enough. Sam then bought his parents a $2m condo and gave his father $2m in cash. I think this helped created a culture of financial immorality within the company.
I love how Sam’s mother forced, I mean ‘encouraged’ Sam to steal money and give it to, I mean, donate money to her favorite Effective Altruism charity, I mean, slush fund.
When you have the level of education that both parents have and they say they don’t know. It seemly isn’t believable. The level of corruption is mind staggering.
I once worked contract for a company that was founding, with their known bankruptcy date, but their purpose was for ONE SINGLE TRIAL. So, they were the business of ONE court case. The company was going to rack up bills, and leave them unpaid, AND....they worked for the prosecution accusing ... of something unethical. I got out of there.
Thanks for reminding me. I had recently watched some yt videos on data fraud on their President. There was some Harvard person in this too. In fact there is a large problem with data manipulation in the scientific community. The bad thing is that these studies are what public policies get based on. 🤦♀🤦♀😠😠
@@grasstastesbad In the last 5 years or the last 130? Let's see... in no particular order... 1. David Starr Jordan (Founding President of Stanford): Eugenicist, racist, and possibly covered up the murder of Jane Stanford. 2. Stanford Prison experiment: Under the watchful eye of Prof. Zimbardo, test subjects pretty much went Gitmo on other test subjects. 3. Stanford hammer murder: Math PhD student ritualistically murdered his thesis advisor after being kicked out of a math program after almost 20 years. What's really telling is that the jury only convicted the student of manslaughter because they felt that he had been so horribly mistreated (this despite the student showing no remorse and the case exhibiting most characteristics of a 1st degree murder). 4. Hiring William Shockley... Yeah, he's a Nobel Laureate, but he is also a sociopath who ran the people who did the work for that Nobel prize out of Bell Labs and Silicon valley was built by the post docs he ran out of Shockley Semiconductor. By the time Stanford hired him, he had moved on from device physics to Eugenics... However, most of this is ancient history. More recently. 5. The relationship between various Stanford faculty and Elizabeth Holmes. 6. Stanford President's data fabrication scandal. (note: that the scandal the OP may be thinking is actually Harvard's Francesca Gino, who did data fabrication while studying the ethics of cheating... This sort of blends in with the Stanford President incident because they happened at roughly the same time.) Honorable mention, despite not having professors involved, goes to the Stanford Sailing team in the varsity blues scandal. Yeah...
By "ethics" they mean the minimum amount of ethics required to avoid incarceration. Notices that SBF's parents aren't currently facing any criminal counts, so apparently he knows his stuff.
It's jewish ethics. If you can get away with stealing something, its because the other guy was stupid and deserved to lose his money. They use our language, but the words mean different things to them.
That's simply how (((some groups))) are. They learn from a young age that people who aren't them are similar to 'cattle' who exist to the benefit of the chosen group.
Stanford is surrounded by venture capital funds and the masses of people seeking funding. This is exactly what I expect to come from both parents being professors there.
It almost seems like SBFs parents thought that even if their son was charged with white collar crimes, they could finagle their way around the problem with various forms of legal sophistry. Either that or they are economically deluded and morally obtuse.
They can't be both finaglers & morally obtuse & deluded? Of course they can be! I say we lock them in their home minus any electronic devices & ramen only for one year. All three.
I don’t think the parents were the masterminds but they were far and away the individuals with the most knowledge of how deeply immoral and illegal the whole operation was while benefiting financially. They deserve to be behind bars as much as anyone at FTX.
It sounds like it was a legal/ethical/technological triad that earned an extremely large amount of money initially. Then the corruption spread. It is such an easy delusion to think you are special and outside of norms. I'll bet half the people reading this think they too are special, if the circumstances presented themselves.
I mean, like all crypto fans the parents were idiots, so "mastermind" is a bit of a stretch to call them, but that they were intimately involved in fraud is hard to dispute.
I just watched this today after SBF has been found guilty of all counts. I had no idea SBF’s parents were so involved with FTX and it certainly appears that they were getting money stolen from FTX depositors. What’s particularly disturbing is that SBF’s parents should have known better to be part of the FTX fraud yet greed appears to have taken over for them.
On the million dollar salary for his dad: “…And that’s probably a good negotiation tactic. Email the boss’ mom, I hear that always works.” I love Patrick’s humor.
Your research as to the subject would be so excellent as to completely clear up just exactly who would be the brains of the outfit in that fraud. The parents would think nothing of, in total setting up their own children to take the total impact as to the fall in the parents scam. Those children would truly have parents that could only be described as the ugliest of monsters. Your total actual research could only be described as to be the best report on a subject that I have ever heard. A real gentleman! Thank you!
Being an ethicist largely seems to involve trying to justify the most unethical and anti-social behavior, just spinning a whole bunch of words to rationalize attitudes those in power already hold/are trending toward.
it's a habit of theirs. My husband's got ASPD and he reads and re-reads weird law loopholes and obscure ordinances/county bylaws in order to maximize the smarm and spite he can show society and cops without technically breaking the social fabric/trust. They have a distaste for authority and social hierarchy that keeps things moving and so they undermine it.
Yes. Ethics is an inherently corrupt field whose practitioners carefully select a set of precepts that vaguely seem appealing but always contain suspicious gaps that permit or perhaps even mandate things that the "rubes" would consider grossly immoral.
He's gonna have to go the right wing route and say the RADICAL left blah blah but I KNOW how to fix it. Or the Democrat route. The right is going to bankrupt us all but I can save YOUR money just give it to me and I'll take good care of it
As a lawyer of almost 30 years who has done tax, trust, and asset protection planning for the last 15, I suspect two practicing corporate compliance lawyers would have a far better chance of actually pulling off some funny business than two law professors would. Corporate law practice is a completely different world from government and academia, although admittedly tax might be the area where these worlds overlap somewhat.
Agreed, but the lack of real world experience in the various schemes and transactions is eclipsed by the utter lack of morality, disregard for investors, and concerns about breaking the law.
As a PhD who taught Business Ethics at universities in philosophy I have no doubt you're right. The parents should pay the price for their ironic stupidity
They would be knowledgeable enough to know to ask the right questions and seek out the correct lawyers for their needs. They were not paying so cost was not an issue.
This video is straight-up fire! You're spitting some real knowledge, and I'm all for it. You're a real scholar, and you're doing a great job of making complex concepts accessible to the masses. It's clear that you've got a deep understanding of the subject matter, and you're able to communicate it in a clear and concise way. You're not afraid to express yourself authentically. You're a role model people everywhere, and I'm glad to see you using your platform to educate and empower others. It was so good, I had to leave a review. I'm not one of those fake ass bots, I'm a real person, and I'm telling you, this video is the real deal.
I could see how the house could accidentally be put into his parent's name. What happened was that Sam was at the time playing a game on the playstation and another game on Xbox and at the same time he was signing papers and quoting shakespear from memory because he is a genius. He had a pile of papers clipped together and mistakenly signed over the house to them. This mistake is called the genuis bloop.
Quoting Shakespeare from memory does NOT a genius make. SBF is a math whiz. And him playing 2 video games at once - uh, can we say grow up, little boy? - and signing serious legal contracts/papers stuck in front of him at the same time isn't even in the "genius" ballpark. The multi million dollar homes, condos, apartments these kids were living in and the shameless way they threw money around was astonishing. And getting ol Sammy boy a nice prison cell for himself + one for his HAIR. Bye bye, Sam.
From the earliest reports on SBF/FTX the articles were mentioning his parents. It seemed to me, just from the reporting, that a lot of folks had the impression that his parents were a lot more involved than appeared on the surface.
Maybe, at some point in life, we must all accept that there's never such a thing as a lone actor on wrongs of this magnitude. It takes a village to commit crimes this large, layered, and sophisticated.
Barbara and Joseph, both of whom have been the subjects of misunderstanding, have diligently engaged in their scholarly pursuits at Stanford. Anticipate forthcoming publications on thought-provoking topics such as "Exploring the Boundaries of Unethical Conduct within the Realm of Legal Ethics" and "Strategies for Applied Tax Optimization."
Im just happy the parents were smart enough to well document every single illegal money transfer, made it so much easier for the investigators to follow the money trail. Bravo and brava! Well done!
Boy, I'm sure thrilled that people like this have been training our most expensive and powerful lawyers for years. What better vanguard against systemic corruption and privilege could you possibly have?
Thank you there's no way that these parents are completely clean in this because obviously they transferred things to cover things up and get out of the country
The greed in this family is crazy. Sam BF tried to snake his own dad on a salary promise and then the Father had to email his own Son and the cc in his wife (Sam’s mum) in order to extract an additional $800k pa. While they were already draining millions of dollars.
I think it is blazingly obvious that Sam's parents are completely trustworthy and we should believe everything they say. Clearly this is too well meaning naive bystanders who only wanted the best for their son and we should probably set up a go fund me for them in order to help with their legal costs.
Agreed. It's obvious they aren't in the know how enough to be able to see the very well hidden fraud happening in front of their noises. I would help with the GoFundme, as I wouldn't like to see them out of pocket protecting their millions.
One great line: .."and that's because philanthropy always becomes a struggle for the bankrupt." I need to listen to this more than once to get the zingers Patrick just calmly states. Awesome!
Patrick Boyle is great. Not only do I learn a lot of information that no one else is saying, I love his Dry sense of humor he throws in every now and then.
From the start when it was reported there is a property in SBF parents' name I believed they are not exactly free of blame. However, the extend of and early involvements as in the complaints is beyond my imagination. The parents have no moral compass and they are both Stanford professors. Thank you Patrick for giving us the digests of this complex case when most news media has largely only interested in reporting the few seconds of attention grabbing headlines.
I was wondering where his parents acquired tens of millions to bail him out. Seize their assetts and bail money and lock SBF back up. They shouldn't be able to use ill gotten wealth via fraud for bail.
@@guydreamr correct. In fact, I recall hearing it was co-signed by wealthy individuals beyond the immediate family, but the Lewis book doesn’t note that: it noted that the government/prosecution “wanted” him to attain bail even if the terms were unusual, precisely so the naive public would presume Sam had paid for it, and thus possessed tens, or hundreds, of millions of dollars.
I am so happy with the amount of youtube videos being made on these scammers. There are so many sympathy articles out there for SBFs parents it's unbelievable. They should be on trial just as much as their son.
Stanford's president is also a fraud, just an academic fraud. Clearly these "hallowed" institutions have had too much money for too long and have become hopelessly nepotistic and corrupt.
@HimSb-vz6he What does SBFs punishment have to do with watching the video?? I watched the entire video, and I'd bet you a million this clown spends no serious time in jail.
I disagree. SBF and co. made the mistake of stealing from the *rich* people in ways that makes *them* look like idiots. They really, *really* don’t like it when you do that.
Head to brilliant.org/patrick/ to start your free 30-day trial, and the first 200 people get 20% off an annual premium subscription.
❤
@@StopinvadingmyhardwareI fully concur. 😎
Second biggest donation person to... Joe.
Guess the top guy above him.. 😶
Too many ads mates
Bankman-Friend and his parents are the furthest thing from criminals that could possibly exist. We're witnessing what happens when a false narrative takes hold of people's minds. The guilty party is Coindesk for causing the bank run on FTX with wild accusations about SBF. Lets not forget SBF legitimately made several billion dollars of his own money. I think somehow the prosecutors are regarding that money as "customer funds" when it clearly is not. In a perfect or at least more just world, Coindesk are the one's liable for any customer losses that resulted from FTX bankruptcy.
So basically SBF's mother's relationship to ethics is equivalent to his father's relationship to taxes. He specializes in tax law in order to avoid paying taxes and she specializes in ethics to avoid being ethical.
boom (mic drop )
@@chillphil967 nailed it. inspires moi to have my son attend Standford. His great grandfather attended. Sooooo, he can check the elite box that a direct relatives attended! (ok, he was one of the last Ministers in the old Chinese dynasty, but hey, a girls gotta do what a girls gotta do!!
And now they specialize in how to avoid paying back their ILL gotten gains and prison time
That’s what he said in the video.
100%
A family that frauds together should go to jail together.
That's antisemitism :D
And pay back investors together?
No chance; with the 'friends in high places' they have... probably walk way keeping everything they stole.
@@sergeantmajorzero7482They are Jewish America is run by them he will see very little jail time hopefully some Chad will bottle him in public
@@Jason-fm4my You're talking crazy.
Hell yes, the parents knew and took part in this scheme. The betrayal of public trust by two Stanford professors is outrageous -- yet according to NPR, "Fried now has emerita status at Stanford Law School; she has stepped back from teaching. Bankman is on leave. A Stanford spokesperson said they both remain on the faculty." Yes, condoned by Stanford, this "family business" was intended to defraud the public. I hope that in the name of justice, all family members are charged with crimes, and if they are found guilty, are made to pay reparations and do prison time. And shame on Stanford for retaining them on staff!
Not surprised that they were Stanford professors given all of the revelations about research fraud at Stanford.
What do you expect from Stanford when even their president is a fraud.
Well, just look at how they handled the scientific fraud committed by their former president, Marc Tessler-Lavigne. He stepped down, but, of course, he’s still on the faculty. They should’ve know he was trouble when they saw how many names he had. Just remember folks: you can’t trust anyone with more than one surname.
@@doodlebug1820 Like when the RAND corp couldn't get their secretaries to play the zero-sum game they just made up.
They gave a loooot of Sam’s money to Stanford.
As a kid of divorce, it warms my heart to see families stick together to commit breathtaking amounts of fraud ❤
Really shows that the nuclear family isn’t dead after all
😂😂😂😂
It's probably the havoc caused by rich families like SBF's that indirectly contributed to your parents divorce. (The butterfly effect !!!) 😊😊😊
@@joekulik999okay movie, I expected more if I'm honest.
I think we are beyond breathtaking amounts of fraud to record breaking amounts of fraud.
Imagine someone takes your money and gifts it to his parents. When you ask his parents to return the money, they decline, stating they need it for their son's legal defense because you're suing him for stealing the money he gave them. You are literally financing the thief's legal team.
exactly the same happened with the billion dollar tax fraud scandal in europe. Apparently tax authorities around europe did not do any checks whatsoever, when someone requested to get refunded prepaid tax from stocks. Its a stupid thing to explain, but essentially sometimes you automatically pays taxes on your stocks, with the risk of it being wrong because of country. Its usually just a question of which country is supposed to get the tax.
So these guys just send in requests for billions of dollars over the years, and tax authorities just paid them, no questions asked. In many cases, they did not even own any of the stock in question. Still able to get refunded tax :D
When it comes to get the money back, the states are up against a wall. For example one dude made a deal to pay a third of it back if Denmark did not pursue a lawsuit. Tax authorities accepted. :D :D :D :D
Its extremely stupid, how if you are just rich enough, its almost impossible to win a case like this against you, without taking a massive loss in legal fees. So essentially just steel enough money and you are almost untouchable , and the government will even agree for you to keep most of your loot .......... :D .........
J strikes
@@ntl9974 Tru dat
Exactly. All of SBFs legal fees have been paid with stolen money.
@@jonaswox and my guess is most of these types have four Passports in three different names, so they can "bail" to back home and since it's a "civil" matter, not criminal, they won't get even an attempt at extradition, IF their home country even HaS an extradition Treaty.
The fact that Barbara Fried is still saying that her son, SBF, did nothing wrong is astonishing. This family is not looking good and even Stanford is circling the wagons. Greedy corrupt institutions will always find a way to justify misdeeds.
I wonder if Stanford will keep the donations ? After all,they teach ethics there and it's only from working people and only their savings...
Stanford has returned the money.
@@c-pjawa2759 woohoo 🎉
I must be a bit cynical...
@@c-pjawa2759They have said they would return it but hasn’t been accomplished. Keep
in mind they got FTX funds in large amounts over a couple of years not one lump sum.
The cherry of top is that she's a professor of legal ethics...
Anyone who took his mom's ethics class should probably get their money back.
Looks like legal ethics is a contradiction of terms.
like FTX customers her students will never see a dime back
Democrat ethics
@@twisterli9177 Don't fall for the left-right dichotomy. They're all in cahoots.
Imagine going to some uni in the US and thinking you get something else then indoctrination.
I cant stop laughing over the irony that Bankman-Fried's parents were professors at Stanford in compliance and ethics. 🤣🤣🤣
under the infamous George S. sam was next top donator to Joes 2020 election😮
Those are degree majors you can fake your way through
Sounds like another pair of those hardbitten anti-goverment cynics that are so popular nowadays. They rail that rich people and politicians can get away with anything, proceed to commit crimes themselves and melt down when it inevitably falls apart. Every time I hear them spout nonsense it's like watching an imminent car accident in slow motion. You're like, go ahead and try it then, see what happens. They either don't have the cajones or this happens.
Those who can, do. Those who can't, teach.
how can you learn the rules otherwise?
I am also 10 million dollars away from announcing retirement. Who knew SBF's life could be so relatable.
Hehe! That's clever. 😂
Imagine going into debt of hundreds of thousands dollars to pay Stanford scholarship just to be lectured by these crooks. I think their students should be eligible for a refund.
No, that is whole point.
Well said, alexsandrakk!
😂😂😂😂😂well if you put it that way Sir!
That might be the realistic thing I've read all day! Since miss freid likes to blame bad outcomes on circumstances, upbringing and influences so much, can the students blame her for their debts or possible unemployment?....
Lol. People at Stanford don’t really have debt cause they are rich or they are poor. It’s free if you come from family making 100k or less. Then it’s fairly progressive too
“Putting your mom on this” was just incredible. The entitlement and unscrupulousness of this family is off the charts.
J
Survival mode
"Son you're ONLY giving me 200k a year! This is outrageous! I'd like to speak to the manager please!"
Head of ETHECS ,..... The mother?
It also made me sad for his dad
It’s clear who wore the pants in that family
Remembering Leona Helmsley who famously said "only little people pay taxes" looks like the Bankman Fried family took a page right out of her playbook One of their main focuses was to avoid taxes with their "gifting" of 10 Mill and 19 Mill property scheme. Yah Barbara Fried is the perfect person to teach an ETHICS class at Stanford.
Leona was prosecuted by Rudy!!!! Imagine Rudy being tough on rich people!!!
Just the fact that you called Kevin leary an actor melts my heart, and that picture is forever embedded in my mind, Thank you
an actor, avec no pants. and a Canadian WIThOUT the comedy chops of Patrick
Less than 1 minute into the video and we already get a stab at Kevin O'leary, what a treat.
I had to check that part again, funny stuff
Patrick nailed it!
I loved that part. Laughed hard when I heard Patrick say that. Too perfect.
It’s a sign of our times that Patrick Boyle’s videos are more entertaining and informative than anything put out by Hollywood, New York Times, PBS, BBC, etc. Thanks Patrick. ❤
Thank you for supporting the channel!
Entertaining is quite the stretch
you couldn't just make it $20, you people are so difficult🙄
@@draco2xxthat .01 was used to tip the non binary woke barista
Indeed
Patrick Boyle is an absolute master of passive aggressive humor. "Actor Kevin O'Leary", "That's is because philanthropy always becomes a struggle for the bankrupt" and "Unlike some of FTX's other executives (shows picture of kindergarteners)"
Agree
I wonder if Prof. Bank an has also been advising the Biden family?
Patricks humor is drier than the Gobi Desert
@@elliotoliver8679 Olive, two onions, very dry martini, not even shaken .
Btw Kevin O’Leary hasn’t criticized SBF to this day. O’Leary either doesn’t want to anger SBF thinking SBF will reveal something about O’Leary relating to fraud or,,,, never mind there is not “or” because that’s it.
I live in Palo Alto and my wife worked at Stanford for a long time. We can both totally see how these parents were complicit given the culture at the school. A lot of it is just a veneer. They should be in jail too.
I’m from Los Altos and had family/family friends who worked at Stanford, I’ve spoken to a few of them about this and they said they weren’t surprised.
People in high positions get arrogant, especially when money becomes involved in things.
Woww
@@deedeeramone34I’m surprised. The people I know at Princeton have an “honor code” that they contribute to and follow. They’ll stick by it even if it bites them in the ass. For example, they have a free speech clause, and have explicitly punished people *they agree with* for trying to go against that. Maybe it’s just a California culture thing?
These people are also scientists-so maybe not quite as bad as lawyers?
It's the same at Stanford, but every individual is different. There will always be bad eggs.@@jacob9673
@@jacob9673Dude. Do you need a list of people from Princeton that have violated ethics codes and committed similar behavior?
Youre blind as hell if you genuinely think its just a magical California thing that people are corrupt.
2 sociopathic parents raised a sociopathic son, not very surprising.
Of course they believed they would get away with it, they were the "smartest guys in the room".
Totally had nothing to do w their religion and culture which teaches them they should take everything the can from the gentile. No, def not
You mean the religion of antiCommunism/antiMarxism/antiSocialism/free market Anarchy i.e. Capitalism? Yes. THAT religion.@@johnanon658
@@johnanon658 you are an idiot. How wonderful that you have an entire race to proudly hate to distract some from noticing.
@@johnanon658 There were a sizeable number of Jewish people associated with this scam. I'm not antisemite, but this aspect of the case is quite noticeable.
I see a lot of academics are like that. That's why you see them as analysts and contributors to [insert favorite 'news' show here]. All to add credibility.
They were a very bad influence. Sam was paying his father $200k a year. His father send Sam an angry email saying that wasn’t good enough. Sam then bought his parents a $2m condo and gave his father $2m in cash. I think this helped created a culture of financial immorality within the company.
So basically don't blame Sam at all!
They are all guilty! 😢
I love how Sam’s mother forced, I mean ‘encouraged’ Sam to steal money and give it to, I mean, donate money to her favorite Effective Altruism charity, I mean, slush fund.
😂😂😂👍👍
When you have the level of education that both parents have and they say they don’t know. It seemly isn’t believable. The level of corruption is mind staggering.
Moral and legal...
On the other hand, their level of stupidity leaving so many paper trails...
"Actor Kevin O'Leary" - Patrick Boyle
😂 Good one, Patrick!😂😅
A great Canadian and a born comic, Kevin. Canada is sooo proud. Exporting actors since Hollywood began.
The fact that she teaches attorneys ethics, Explains a whole lot about the state of the legal system and the financial system in america.
I can't help wonder😂
This immediately made me think of Francesca Gino
Absolutely spot on.. 😅😅
I once worked contract for a company that was founding, with their known bankruptcy date, but their purpose was for ONE SINGLE TRIAL. So, they were the business of ONE court case. The company was going to rack up bills, and leave them unpaid, AND....they worked for the prosecution accusing ... of something unethical. I got out of there.
The apple does not fall far from the trees (parents).
His parents are geniuses until it comes to knowing what their son was doing. They're complicit.
They knew what was up. Very smart people are just that. Very “smart”
I'll fix that up for ya. "His parents are geniuses *even as it comes to knowing what their son was doing."
Agreed. They're complicit.
Did SBF ever have any chance to turn out a decent human being with parents like this?
They created the bomb that went off in FTX.
oye vey
They certainly can't claim ignorance of the law bahahahaja
The level of greed in this country is absolutely disgusting. It needs to stop and people need to be held accountable.
You are not wrong.
Way to call out the Bahamas.
There are many, many honest people. They rarely make headlines
Another scandal for Stanford uni professors involving ethics
Thanks for reminding me. I had recently watched some yt videos on data fraud on their President. There was some Harvard person in this too. In fact there is a large problem with data manipulation in the scientific community. The bad thing is that these studies are what public policies get based on. 🤦♀🤦♀😠😠
what are the other scandals?
@@grasstastesbad In the last 5 years or the last 130?
Let's see... in no particular order...
1. David Starr Jordan (Founding President of Stanford): Eugenicist, racist, and possibly covered up the murder of Jane Stanford.
2. Stanford Prison experiment: Under the watchful eye of Prof. Zimbardo, test subjects pretty much went Gitmo on other test subjects.
3. Stanford hammer murder: Math PhD student ritualistically murdered his thesis advisor after being kicked out of a math program after almost 20 years. What's really telling is that the jury only convicted the student of manslaughter because they felt that he had been so horribly mistreated (this despite the student showing no remorse and the case exhibiting most characteristics of a 1st degree murder).
4. Hiring William Shockley... Yeah, he's a Nobel Laureate, but he is also a sociopath who ran the people who did the work for that Nobel prize out of Bell Labs and Silicon valley was built by the post docs he ran out of Shockley Semiconductor. By the time Stanford hired him, he had moved on from device physics to Eugenics...
However, most of this is ancient history. More recently.
5. The relationship between various Stanford faculty and Elizabeth Holmes.
6. Stanford President's data fabrication scandal. (note: that the scandal the OP may be thinking is actually Harvard's Francesca Gino, who did data fabrication while studying the ethics of cheating... This sort of blends in with the Stanford President incident because they happened at roughly the same time.)
Honorable mention, despite not having professors involved, goes to the Stanford Sailing team in the varsity blues scandal. Yeah...
Theranos
The problem with teaching ethics at law school is there are no lawyers qualified to teach it.
By "ethics" they mean the minimum amount of ethics required to avoid incarceration. Notices that SBF's parents aren't currently facing any criminal counts, so apparently he knows his stuff.
hahahaha so true hahaha
So you are saying all lawyers are unethical? FUCKHEAD
It's jewish ethics. If you can get away with stealing something, its because the other guy was stupid and deserved to lose his money. They use our language, but the words mean different things to them.
😅😅😅😂😂😂. This family and FTX employees need to have their assets FROZEN.
His parents are a real piece of work. Wow
"If your kid's hobbies are large scale financial fraud, money laundering, bribing politicians and league of legends..." best sense of humour 😂
yea, and he even kept a straight face when he said it.
I believe SBF financial fraud was a great art of "Bullshittism"
😂😂😂
A true Boylism
maybe encourage them on LoL.. purses are big these days...
I emailed my boss' mom to negotiate for a pay raise. Thank you Patrick for the tip! Will update with results!
So... Did it work?😝
We want to know 😂
Your deadpan delivery of jokes is fantastic.
So insane that parents and sons thought they were like superior to others. Patrick, your humor is the pearl in this oyster.
I mean it's literally part of their religion, goyim
No one is superior to others, it's an illegitimate concept, but they and their kids are definitely superior they'll let you know
That's simply how (((some groups))) are. They learn from a young age that people who aren't them are similar to 'cattle' who exist to the benefit of the chosen group.
They think they are so smart that they can talk their way out of this mess
They’re the chosen people
SBF is almost exactly the sort of person I would expect Stanford professors to raise.
Lol you’re the type of genius I’d expect from (pick a color) trash to raise.
@@joec8942 you got a license to ride that dick bro?
Stanford is surrounded by venture capital funds and the masses of people seeking funding. This is exactly what I expect to come from both parents being professors there.
He looks stupid to me
Worlds smartest people get financial backing prior to or after starting businesses. Who would have thought!?!?
You can really see just how someone like Bankman-Fried learned to believe that the rules don't apply to him.
It almost seems like SBFs parents thought that even if their son was charged with white collar crimes, they could finagle their way around the problem with various forms of legal sophistry. Either that or they are economically deluded and morally obtuse.
This is a day in the life of a Northern California..
Both? Both! Both is good…
Lil road to El Dorado reference there
Jus 🇮🇱 things
They can't be both finaglers & morally obtuse & deluded? Of course they can be!
I say we lock them in their home minus any electronic devices & ramen only for one year.
All three.
I don’t think the parents were the masterminds but they were far and away the individuals with the most knowledge of how deeply immoral and illegal the whole operation was while benefiting financially. They deserve to be behind bars as much as anyone at FTX.
"I don’t think the parents were the masterminds" 🙃
It sounds like it was a legal/ethical/technological triad that earned an extremely large amount of money initially. Then the corruption spread. It is such an easy delusion to think you are special and outside of norms. I'll bet half the people reading this think they too are special, if the circumstances presented themselves.
@@tharan000 I have it on good authority that I'm special, my mum and the short bus driver told me so.
I mean, like all crypto fans the parents were idiots, so "mastermind" is a bit of a stretch to call them, but that they were intimately involved in fraud is hard to dispute.
You don’t have to be the “mastermind” to benefit and profit from theft.
I just watched this today after SBF has been found guilty of all counts. I had no idea SBF’s parents were so involved with FTX and it certainly appears that they were getting money stolen from FTX depositors. What’s particularly disturbing is that SBF’s parents should have known better to be part of the FTX fraud yet greed appears to have taken over for them.
Parents: "We weren't involved with FTX."
Patrick: Has to take 30 minutes to very superficially describe how not involved they were.
Nearly credit swiss level of guilty.
Sounds like how”not involved “ was Biden
in his son’s frauds, in my opinion.
On the million dollar salary for his dad:
“…And that’s probably a good negotiation tactic. Email the boss’ mom, I hear that always works.”
I love Patrick’s humor.
🤣The leverage is unbeatable.
At least his dad wasn't a Vice President of a big country.
Your research as to the subject would be so excellent as to completely clear up just exactly who would be the brains of the outfit in that fraud. The parents would think nothing of, in total setting up their own children to take the total impact as to the fall in the parents scam. Those children would truly have parents that could only be described as the ugliest of monsters. Your total actual research could only be described as to be the best report on a subject that I have ever heard. A real gentleman! Thank you!
And these are parents who have always advocated for higher taxes....for you, not them.
Higher taxes for others, while they themselves dodged tax laws.
Truly the classic standford lawyer power couple.
Being an ethicist largely seems to involve trying to justify the most unethical and anti-social behavior, just spinning a whole bunch of words to rationalize attitudes those in power already hold/are trending toward.
Stanford, eh? Professors wandering around there right now must be shaking their collective heads. And reputations.
It’s called pilpul.
it's a habit of theirs. My husband's got ASPD and he reads and re-reads weird law loopholes and obscure ordinances/county bylaws in order to maximize the smarm and spite he can show society and cops without technically breaking the social fabric/trust. They have a distaste for authority and social hierarchy that keeps things moving and so they undermine it.
It is not a book ban it is an age restriction
Yes. Ethics is an inherently corrupt field whose practitioners carefully select a set of precepts that vaguely seem appealing but always contain suspicious gaps that permit or perhaps even mandate things that the "rubes" would consider grossly immoral.
Shame on Stanford.
“Wood Nymph”. I almost fell off my chair!
I kinda figured they were in on it. I mean, it's hard to hide mass scale financial fraud when you live in your parent's basement.
@@dans2971 Right you are.
Thanks!
Thank you!
Keep the videos coming Pat, I enjoy watching them!
Entire family is corrupt. Expect to see them running for office before long.
He's gonna have to go the right wing route and say the RADICAL left blah blah but I KNOW how to fix it. Or the Democrat route. The right is going to bankrupt us all but I can save YOUR money just give it to me and I'll take good care of it
As a lawyer of almost 30 years who has done tax, trust, and asset protection planning for the last 15, I suspect two practicing corporate compliance lawyers would have a far better chance of actually pulling off some funny business than two law professors would. Corporate law practice is a completely different world from government and academia, although admittedly tax might be the area where these worlds overlap somewhat.
It's almost impossible to believe Sam's parents knew ANYTHING about their son's business dealings. Just ask Joe Biden.
Agreed. There is a big difference between theory and the reality of implementing a plan.
Agreed, but the lack of real world experience in the various schemes and transactions is eclipsed by the utter lack of morality, disregard for investors, and concerns about breaking the law.
As a PhD who taught Business Ethics at universities in philosophy I have no doubt you're right. The parents should pay the price for their ironic stupidity
They would be knowledgeable enough to know to ask the right questions and seek out the correct lawyers for their needs. They were not paying so cost was not an issue.
His mother was a law prof. on legal ethics?Sounds like a oxymoron .I hope she`s proud of her son.
One hundred hidden millions proud.
she's very proud of him!!
She should turn herself in ...... ahead of the indictment 😊
@@ResortDogfr what's his fine 50 million lmao
She is proud, Killary is proud, Gov. Nuisance is proud, and everybody else who was in on the money laundering & pump/dump fraud ring.
I used to judge SBFs hairstyle then i saw barbara fried and it was "Ahhhh" moment. 😂
They only have time to scam people of their money
😂😂👏👍
Wow I saw it and it didn't even consciously register.
I have no idea how Boyle does such thorough research on such dense topics. Extremely impressive.
He is definitely knowledgeable in this field.
He does do good research, but this particular video was mostly just summarizing what was written in the lawsuit filing, no?
He's a professor, that means he has minions in the form of students!
And very humorous as well... dry as the Sahara.
Mr Boyle to you.
This video is straight-up fire! You're spitting some real knowledge, and I'm all for it. You're a real scholar, and you're doing a great job of making complex concepts accessible to the masses. It's clear that you've got a deep understanding of the subject matter, and you're able to communicate it in a clear and concise way. You're not afraid to express yourself authentically. You're a role model people everywhere, and I'm glad to see you using your platform to educate and empower others. It was so good, I had to leave a review. I'm not one of those fake ass bots, I'm a real person, and I'm telling you, this video is the real deal.
I could see how the house could accidentally be put into his parent's name. What happened was that Sam was at the time playing a game on the playstation and another game on Xbox and at the same time he was signing papers and quoting shakespear from memory because he is a genius. He had a pile of papers clipped together and mistakenly signed over the house to them. This mistake is called the genuis bloop.
Sam has said we shouldn’t read books 😂
Why people keeps saying he is a genius. He is a fraud and a thief.
At least he could've signed a couple million in "gifts" over to me, a roll of the dice i guess :(
He might have another genius brain freeze and sign over his mother's house to you from jail@@RaptorTroll360
Quoting Shakespeare from memory does NOT a genius make.
SBF is a math whiz. And him playing 2 video games at once - uh, can we say grow up, little boy? - and signing serious legal contracts/papers stuck in front of him at the same time isn't even in the "genius" ballpark. The multi million dollar homes, condos, apartments these kids were living in and the shameless way they threw money around was astonishing. And getting ol Sammy boy a nice prison cell for himself + one for his HAIR. Bye bye, Sam.
From the earliest reports on SBF/FTX the articles were mentioning his parents. It seemed to me, just from the reporting, that a lot of folks had the impression that his parents were a lot more involved than appeared on the surface.
"the actor Kevin O'Leary".......
not a video goes by without ridiculing Mr. O.
do not be confused with the actor Dennis O'Leahry
Well... since the Credit Suisse is gone...
Kevin O'Leary. Mr Wonderful?
His mom also developed/pioneered the use of 501C3’s as tax free ways for wealthy Dems to contribute to Democrat politicians/Super PACs.
🇮🇱
@@johnanon658wtf?
I almost spilled hot coffee on me when you dropped the line "actor Kevin O'Leary" 😂 thanks professor
Maybe, at some point in life, we must all accept that there's never such a thing as a lone actor on wrongs of this magnitude. It takes a village to commit crimes this large, layered, and sophisticated.
Are these creeps friends of Elizabeth Holmes and her family?!?!?…. Maybe cousins.
true
It’s only stupid ppl that vote , real ones fight the crooked system
Barbara and Joseph, both of whom have been the subjects of misunderstanding, have diligently engaged in their scholarly pursuits at Stanford. Anticipate forthcoming publications on thought-provoking topics such as "Exploring the Boundaries of Unethical Conduct within the Realm of Legal Ethics" and "Strategies for Applied Tax Optimization."
Thank you this detailed reporting. Appreciate your detailed coverage .
Professors of Legal Ethics and Tax Law at Stanford. Oh the irony.
Stop it.
It antisemitism.
Stop noticing things for your own sake.
Its not irony. Its sincerity. Stanford is evil and corrupt. They were educated to do exactly this
Just what you might expect.
Every time, it seems absurd.
When it happens, we tend to ignore.
Simplicity itself.
Articles before the downfall gushed over SBF's parents. So brilliant, so philosophical, so ethical!!
🇮🇱📰 talking about 🇮🇱👩🏫🧑🏫
They raised a billionaire effective altruist who drives a Toyota. Wouldn't you gush over them too?
Im just happy the parents were smart enough to well document every single illegal money transfer, made it so much easier for the investigators to follow the money trail.
Bravo and brava! Well done!
I love how everyone involved is shady. His parent's employers are also implicated. This is hilarious!
Sad, really
Boy, I'm sure thrilled that people like this have been training our most expensive and powerful lawyers for years. What better vanguard against systemic corruption and privilege could you possibly have?
Right and wrong have some how been redefined, and now the bible doesn't matter ..... WRONG ! !
@@carlmorgan8452what has the bible got to do with anything?
Thank you there's no way that these parents are completely clean in this because obviously they transferred things to cover things up and get out of the country
The greed in this family is crazy. Sam BF tried to snake his own dad on a salary promise and then the Father had to email his own Son and the cc in his wife (Sam’s mum) in order to extract an additional $800k pa. While they were already draining millions of dollars.
Mom and dad need to be indicted.
Yes.. for *for, for sure*
❤ if only there was justice
Oy vey op, they were innocent bystander holobalunga survivors
“The actor Kevin O’Leary” 😂 loved that shade
Absolutely love Patrick's dry humor while keeping a serious and straight face.😂😂😂
that Saul Goodman plug got me 🤣
I love this guy's presentation style. Simple and concise with a little dark humor added in.
Me too ❤ this video was awesome 👌 👏 👍
@@carlmorgan8452 👍
Your financial analysis and reporting is fantastic, your humour LEGENDARY, That you Patrick and a very Happy Christmas 🎉🎉🎉
1:05 "The actor Kevin O'Leary..." Thank you. I was beginning to think it was just me!
You're a legend. I love your dry humor. "Maybe get your kid a ball." I can't get over SBF's mom's job description 😂.
Maybe put your kid in ballet😅😂🤣
A family that steals together, stays together.
"The actor Kevin O'Leary..." is the most accurate description of the man I've ever heard.
I think it is blazingly obvious that Sam's parents are completely trustworthy and we should believe everything they say. Clearly this is too well meaning naive bystanders who only wanted the best for their son and we should probably set up a go fund me for them in order to help with their legal costs.
Agreed. It's obvious they aren't in the know how enough to be able to see the very well hidden fraud happening in front of their noises.
I would help with the GoFundme, as I wouldn't like to see them out of pocket protecting their millions.
That's funny!
😂😂😂
they are just victims
🇮🇱s gonna 🇮🇱
Consider doing a video on Stanford University along the lines of your take on Forbes’ “30 under 30” lists.
I had to stop and catch my breath after you said “The actor Kevin O’Leary…” 😂😂😂
SBF was a patsy for his parents.
Underrated comment. They used him for their own gain.
could be....like they were money laundering for a political party?
@@Ronniezim❤
This.
Well , you invest in your child and it's only right that you make good on that investment!
As always excellent, and I totally appreciate the dry humour you distil!
It is even worse that his parents were doing this since they have a life time of experience and should know better.
@mipmipmipmipmip no jail yet😀
One great line: .."and that's because philanthropy always becomes a struggle for the bankrupt."
I need to listen to this more than once to get the zingers Patrick just calmly states. Awesome!
There was also a great reference to "The actor, Kevin O'Leary."
This answers so many questions.
I'm surprised his parents didn't get him on the Stanford Women's Rowing team with Pell grants.
Patrick Boyle is great. Not only do I learn a lot of information that no one else is saying, I love his Dry sense of humor he throws in every now and then.
SO WHEN HE GETS OUT OF JAIL & HIS PARENT ARE DEAD HE WILL HAVE AT LEAST $30 MILLION DOLLARS THIS IS F'D UP
From the start when it was reported there is a property in SBF parents' name I believed they are not exactly free of blame. However, the extend of and early involvements as in the complaints is beyond my imagination. The parents have no moral compass and they are both Stanford professors.
Thank you Patrick for giving us the digests of this complex case when most news media has largely only interested in reporting the few seconds of attention grabbing headlines.
🇮🇱
The do have a moral compass, it is just rather hedonistic.
@@leonfa259 their book, their very identity, is that they are chosen and so get to defraud the Gs
This story gets more interesting as more details are learned. Thanks Patrick, well done.
The employment positions of SBF’s parents in itself are the biggest conflicts of interest their could be. Smh..
Looks like Sam's parents betrayed him for their own financial gain.
His mother being a Professor on Legal Ethics... if you would write that for a legal drama/TV show nobody would believe it.
Great video!! what a honey pot they all had thier hands into. amazing that so much is in writing. Not wise.
I was wondering where his parents acquired tens of millions to bail him out. Seize their assetts and bail money and lock SBF back up. They shouldn't be able to use ill gotten wealth via fraud for bail.
Me too, it just didn't add up until now. They are just as dirty as their son. I hope they nail them to the wall.
Exactly it's like paying for court costs and lawyer fees with the money you stole from the bank. Smh.
Probably from consulting other businesses on how to covertly violate the law
My understanding is they didn't put a whole of cash up, but rather agreed to a lien being put on their house in CA.
@@guydreamr correct. In fact, I recall hearing it was co-signed by wealthy individuals beyond the immediate family, but the Lewis book doesn’t note that: it noted that the government/prosecution “wanted” him to attain bail even if the terms were unusual, precisely so the naive public would presume Sam had paid for it, and thus possessed tens, or hundreds, of millions of dollars.
I'm only an economist and not a lawyer, but I would have been surprised if they actually were "bystanders."
**High fiving you at the water cooler!** 😊
I am so happy with the amount of youtube videos being made on these scammers. There are so many sympathy articles out there for SBFs parents it's unbelievable. They should be on trial just as much as their son.
Stanford should have the book thrown at them, it must be illegal to accept money from criminal organisations. Disgraceful.
They said they are giving back the money.
Stanford's president is also a fraud, just an academic fraud. Clearly these "hallowed" institutions have had too much money for too long and have become hopelessly nepotistic and corrupt.
I'm not sure how big a book Stanford could throw beyond just firing them.
The whole system is rotten.
Trust me - these are far from the only shady people/orgs giving money to Stanford………
so his parent's were ultimately masterminds behind all this? imagine setting your son up to be put in jail for the rest of his life lmao.
do you think that will happen?
@@kaisahfx1246 to be fair prob get 4 yrs jail and 4000$ fine, because financial crimes get treated like a good thing by our government.
@HimSb-vz6he
What does SBFs punishment have to do with watching the video??
I watched the entire video, and I'd bet you a million this clown spends no serious time in jail.
I disagree. SBF and co. made the mistake of stealing from the *rich* people in ways that makes *them* look like idiots. They really, *really* don’t like it when you do that.
@HimSb-vz6he You need to learn how to read with understanding... that set of skill is clearly completely missing in your case...
His parents knew all along. Send them to jail.
Sounds to me that they are the architects, maybe even had kids in order to pull off this heist! 😮
The apple never falls far from the tree, aye.