U.S. News
Senate Committee To Subpoena SBF If He Does Not Testify Voluntarily
Published
10 months agoon
Zero Hedge

Update (8:20pm ET): Following a tidal wave of disgust, outrage and loathing at corrupt politicians, Maxine Waters took to twitter to slam the earlier CNBC report that she wouldn’t subpoena SBF as a “lie” even though just one sentence lower in her tweet she confirms that she has, in fact, not done anything yet and that a “subpoena is definitely on the table.”
Furthermore, she notes that SBF has “been requested to testify” even though as everyone knows by now, he turned down said “request” and unless he is compelled (i.e., issued a subpoena) he won’t go. But it’s cool: “A subpoena is definitely on the table.” The question is whether the check to Maxine clear and it stays there or someone actually signs it and delivers it to the prominent Democratic donor.
Lies are circulating @CNBC that I am not willing to subpoena @SBF_FTX. He has been requested to testify at the December 13th hearing. A subpoena is definitely on the table. Stay tuned.
— Maxine Waters (@RepMaxineWaters) December 8, 2022
The responses suggest that America’s corrupt politicians no longer fool anyone.
— Autism Capital 🧩 (@AutismCapital) December 8, 2022
“On the table” LOL. You coward. You can’t even do damage control right. $32 billion valuation collapse and your party is worried about $600 Venmo transactions from some Uber driver. You know as much about economics and meaningful consequences as I know about not being bald.
— Quoth the Raven (@QTRResearch) December 8, 2022
This you? https://t.co/OBI594jhtS
— Hank Rogers (@HankRogers17) December 8, 2022
And while Maxine counts her inbound wire transfers and donations from SBF for a cost-benefit analysis of what the humiliated rep should do next, at least two US senators have no such qualms, and the two highest rated members of the Senate Banking Committee told Sam Bankman-Fried they expect him to appear before them next week in person to discuss the collapse of FTX, and will subpoena him if he does not appear voluntarily, a letter from its leaders said Wednesday.
As Coindesk first reported, Senators Sherrod Brown (D-Ohio) and Pat Toomey (R-Pa.), respectively the chair and ranking member of the committee, wrote a public letter to Bankman-Fried, who resigned from the exchange the same day it filed for bankruptcy last month. The committee is holding a hearing on Wednesday, Dec. 14, a day after the House Financial Services Committee holds its own hearing on the exchange.
“FTX’s collapse has caused real financial harm to consumers, and effects have spilled over into other parts of the crypto industry. The American people need answers about Sam Bankman-Fried’s misconduct at FTX,” the lawmakers said in a prepared statement. “The Committee has requested that he testify at our upcoming hearing on FTX’s collapse, and will consider further action if he does not comply.”
Normally witnesses appear voluntarily, the lawmakers said in the letter. If Bankman-Fried does not confirm his participation by Thursday, “I am prepared, along with Ranking Member Pat Toomey, to issue a subpoena to compel your testimony,” the letter signed by Brown said.
He now faces a number of investigations, including an investigation by federal prosecutors with the U.S. Attorney’s Office in the Southern District of New York, who are investigating whether Bankman-Fried may have tried to manipulate the price of TerraUSD and Luna, which collapsed in their own dramatic fashion earlier this year, according to the New York Times.
* * *
Just when you thought House Democrat, and easily one of the smartest people in Congress, Maxine Waters couldn’t humiliate herself and outrage the peasantry any further with her white-glove treatment of Sam Bankman-Fried, whose fraud was behind the largest ponzi scheme since Bernie Madoff, she has bested herself once more.
Waters, the House Financial Services Committee Chair, is not planning on subpoenaing Sam Bankman-Fried, or is that Sam Bankman-Freed – to testify at the upcoming December 13th Congressional hearing about the collapse of FTX.
“Waters informed committee members of her decision at a private meeting Tuesday with Securities and Exchange Commission chair Gary Gensler on Capitol Hill,” CNBC reported late in the day on Wednesday.
Waters apparently said “she wants committee staff try to convince Bankman-Fried to voluntarily testify”.
And if he disagrees? Well… oops, but that’s what all those tens of millions in donations to Democrats were for. Or is that billions?
That’s just the publicly disclosed number. His actual support of Dem elections is probably over $1B. The money went somewhere, so where did it go?
— Elon Musk (@elonmusk) December 3, 2022
For those still confused, one month after the historic implosion, Bankman-Fried appears to be getting away with one of the most blatant heists in history and still has not been held to account by any regulatory agency, other than what appeared to be some perfunctory palm greasing that may have taken place in the Bahamas.
Baffled by why there has been no consequences for Bankman-Fried, even while Democrats and the Biden administration perpetually rail against billionaires and the upper class? Well, there’s the small detail that Bankman-Fried and FTX associates gave $300,000 to the very same House Committee members that are investigating him, per the Washington Free Beacon:
Bankman-Fried and his co-founders at FTX contributed $300,351 to nine members of the House Financial Services Committee, according to Federal Election Commission records. Some of the largest contributions were to Democrats on the committee’s Digital Assets Working Group, which worked on regulation of the crypto industry.
Recall that Maxine Waters has been already widely lampooned and ridiculed for the gentle treatment she has given Bankman-Fried thus far. In an endearing sounding Tweet to SBF on December 2, 2022, asking him to testify in front of Conrgess, she wrote: “We appreciate that you’ve been candid in your discussions about what happened at FTX. Your willingness to talk to the public will help the company’s customers, investors, and others. To that end, we would welcome your participation in our hearing on the 13th.”
The public was not amused by Waters’ approach.
“If you don’t arrest him I will have lost all faith in our government being the tiniest bit of just,” bitcoin advocate Dan Held responded to Waters.
“Rep. Waters, we appreciate that you’re holding a hearing on the 13th, and we look forward to substantive fact-finding about what happened at FTX. I am certain that factfinding will show that SBF has not, in fact, been candid in his discussions. He committed fraud, full stop,” commented Lawyer Jake Chervinsky.
And then Bankman-Fried himself humiliated Waters by publicly shunning her offer to testify, telling Waters he wasn’t sure if he’d be able to testify on December 13th.
“Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain,” he wrote to her on Twitter.
Rep. Waters, and the House Committee on Financial Services:
— SBF (@SBF_FTX) December 4, 2022
Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.
I'm not sure that will happen by the 13th. But when it does, I will testify. https://t.co/c0P8yKlyQt
And to think, SBF dodging the question of an appearance before the House on December 13 came even after Waters blew Bankman-Fried a kiss…
CAUGHT: Maxine Waters appears to blow a kiss at FTX’s chief fraudster Sam Bankman-Fried at a Congressional hearing while the cameras were still rolling
— Benny Johnson (@bennyjohnson) November 18, 2022
She’s the one who’s supposed to grill SBF next month?
pic.twitter.com/qxWXuNsyuK
We guess the ole’ Willie Brown treatment doesn’t quite work with the charm it used to. Maybe Maxine can have Kamala Harris stand in for her next time.
This post was originally published at Zero HedgeYou may like
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U.S. News
Biden Is In Big Trouble
RFK could hand Trump victory.

Published
6 hours agoon
26 September, 2023If RFK decides to run as a third party candidate, a third of Democrats would vote for him. Biden would be finished.
Please share this video! https://youtu.be/MtlyvCvm0aw
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U.S. News
Ted Cruz: “The Odds Are Very Significant” That Michelle Obama Will Replace Biden
“I think if that happens, that would be very, very dangerous.”
Published
14 hours agoon
26 September, 2023Steve Watson

GOP Senator Ted Cruz has speculated that Joe Biden will not be chosen as the Democratic nominee for 2024 and that the distinction will go to none other than Michelle Obama in a last minute Democratic National Convention decision.
“I think the odds are very significant that next summer at the Democrat national convention that the Democrat party will jettison Joe Biden and will throw him off the ticket, and they will parachute in instead, Michelle Obama to be their candidate,” Cruz told Sean Hannity.
“I think they’re gonna look to Michelle Obama as the savior to come in,” Cruz continued, adding “I think if that happens, that would be very, very dangerous.”
“And every time I see a Democrat or one of their puppets in the press beginning to point out the problems with Joe Biden – every time that happens, the chances of that go up and up and up,” Cruz added.
When Hannity asked if Michelle Obama even wants to run, Cruz reasoned that there are no other candidates that wouldn’t alienate certain Democratic voters.
Referring to Kamala Harris, Elizabeth Warren, Gavin Newsom, and Pete Buttigieg, Cruz noted that “If the Democrats pick any of those four, you tick off the other three and risk alienating their supporters.”
He continued, “I think Michelle Obama brings the Obama pedigree. She parachutes in with also the suit of armor of a First Lady with high positives and relatively low negatives. And I think they can justify to everyone who gets snubbed, ‘Well, look, we went with Michelle Obama instead.’”
“I don’t know if she wants it. But I do think it would be much more attractive to her to come in next summer and just campaign a couple of months to the general rather than having to spend two years campaigning vigorously on the ground,” the Senator further suggested.
Watch:
Senator Ted Cruz believes Michelle Obama is going to replace Joe Biden for 2024. What do you think? pic.twitter.com/N8ed3qyQB5
— Brigitte Gabriel (@ACTBrigitte) September 26, 2023
Cruz floated the idea on his podcast last week:
NEW: Senator Ted Cruz believes Biden will *not* be the 2024 Democrat candidate & thinks the Democrats will "parachute" in… wait for it…
— Collin Rugg (@CollinRugg) September 21, 2023
Michelle Obama.
“The Democrat kingmakers [will] jettison Joe Biden and parachute in Michelle Obama."
“And so when I see the media turning… pic.twitter.com/G5x0PmvR5G
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U.S. News
Trump Vows To Investigate MSNBC & NBC News For “Country Threatening Treason”
“The LameStream Media will be thoroughly scrutinized for their knowingly dishonest and corrupt coverage.”
Published
16 hours agoon
26 September, 2023Steve Watson

President Trump has promised that should he be elected for a second term in office he will investigate MSNBC And NBC News.
“They are almost all dishonest and corrupt, but Comcast, with its one-side and vicious coverage by NBC NEWS, and in particular MSNBC, often and correctly referred to as MSDNC (Democrat National Committee!), should be investigated for its ‘Country Threatening Treason,’” Trump wrote on Truth Social.
Trump added that the networks have relentlessly pushed the Russia Collusion hoax, describing it as a “big campaign contribution” to the Democrats.
“Their endless coverage of the now fully debunked SCAM known as Russia, Russia, Russia, and much else, is one big Campaign Contribution to the Radical Left Democrat Party,” he urged.
Labeling the leftist media a “true threat to Democracy” and “THE ENEMY OF THE PEOPLE!” Trump added “I say up front, openly, and proudly, that when I WIN the Presidency of the United States, they and others of the LameStream Media will be thoroughly scrutinized for their knowingly dishonest and corrupt coverage.”
MSNBC continues to prove Trump’s point with batshit crazy segments such as this:
.@SteveSchmidtSES on Trump saying he needs “six months to a year” to reform the federal govt: “This is a racist code whistle to every white supremacist in the country because it’s how long it took Adolf Hitler to take Weimar Germany to a complete and total dictatorship.” pic.twitter.com/PGQPzH5eT8
— Tom Elliott (@tomselliott) September 26, 2023
As we noted yesterday, Trump has opened up a near ten point lead over Biden in a hypothetical 2024 matchup according to a Washington Post/ABC News poll.
The numbers were so alarming to the outlets that they both attempted to rubbish their own survey.
Meanwhile, during a rally Monday, Trump hit out at Biden’s disastrous border crisis, noting that the thousands of illegal immigrants coming into the country all seem to have fancy cell phones.
“Biden puts China first, Mexico first, Ukraine first, Europe first, Asia first, illegal aliens first above our great veterans, you know that. Puts the illegal aliens above our veterans,” Trump noted, adding “Our veterans live like hell, and you know, you see what’s happening. You ever see the illegal aliens? One of the weirdest things. They come in by the tens of thousands, sometimes a day, and they all have cell phones.”
“Where do they get the cell phones? Everybody has a cell phone,” Trump canted, adding “They’re all talking on these beautiful cell phones, and they’re expensive ones too, they’re nice ones. Somebody who was into that said, ‘Those are good phones.’ And then I say, who pays their bills? Who’s paying their bills, Marjorie? Do you wanna check that? I’ll give it to Marjorie, she’ll figure that one out fast.”
Watch:
Trump goes out a weird rant about migrants having cell phones, then says, "our veterans don't have cell phones, do they?" pic.twitter.com/MpxfKGn3HC
— Aaron Rupar (@atrupar) September 25, 2023
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