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Comment on Forbes' kiss of death

supercriticalcheese@lemmy.world ⁨1⁩ ⁨year⁩ ago

Calling using client funds as collateral for risky investments (over and over again) as poor risk management it is a bit of an understatement.

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AlmightySnoo@lemmy.world ⁨1⁩ ⁨year⁩ ago
It wasn’t technically illegal nor was it fraud since it had an exemption from the Volcker Rule you’re referring to.

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- JohnDClay@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
  It’s illegal to misrepresent what you are using your clients funds for, as was proved in court.
  
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  - AlmightySnoo@lemmy.world ⁨1⁩ ⁨year⁩ ago
    
    wait, I think that was SBF rather than SVB. Why are these acronyms so similar :(
    
    it doesn’t help that they were both featured on Forbes 😅
    
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  - psycho_driver@lemmy.world ⁨1⁩ ⁨year⁩ ago
    All they needed to do was put “Hookers and blow on yachts” in really, really small print somewhere.
    
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