I have never seen such a strong argument for an end to limited liability before. Dozens of investors funded and enabled FTXs fraud. Their level of incompetence, both to their own investors and to the public in general is astounding. Now they fraud they enabled and cheered on is destroying other peoples savings and businesses.
They asked for some basic info on FTXs internal controls and were told to piss off. They asked for some oversight power and we're refused. Then they choose to invest anyway and help this fraud grow. To me, this is like reloading the gun of an armed robber during the robbery.
"He seemed like a nice guy" isn't going to cut it here morally even if they're legally in the clear.
They asked for some basic info on FTXs internal controls and were told to piss off. They asked for some oversight power and we're refused. Then they choose to invest anyway and help this fraud grow. To me, this is like reloading the gun of an armed robber during the robbery.
"He seemed like a nice guy" isn't going to cut it here morally even if they're legally in the clear.