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The John Batchelor Show

PREVIEW: From a longer conversation, Simon Constable writing in WSJ recounts what the convicted and deceased financial fraud Bernie Madoff (1923-2020) has in common with the convicted financial fraud Sam Bankman-Fried (1992-).

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 6 December 2023

⏱️ 3 minutes

🧾️ Download transcript

Summary

PREVIEW: From a longer conversation, Simon Constable writing in WSJ recounts what the convicted and deceased financial fraudster Bernie Madoff (1923-2021) has in common with the convicted financial fraudster Sam Bankman-Fried (1992-).

1908 St. Regis Hotel, NYC

Transcript

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0:00.0

This episode is brought to you by Cracken.

0:03.0

Crippo is like the financial system, but different.

0:06.0

He doesn't care where you come from,

0:08.0

what you look like, your credit score,

0:10.0

or your outrageous food delivery habits.

0:13.0

crypto is finance for everyone, everywhere, all the time.

0:17.0

Visit Krakon.com slash see what crypto can be.

0:21.0

To learn more, don't invest in as you're prepared to lose all the money you invest.

0:25.6

This is a high-risk investment and you should not expect to be protected if something goes wrong.

0:30.2

This is John Batcher speaking with my good friend Simon Constable writing for the Wall Street Journal.

0:35.0

Simon speaks of 15 years ago right now, December 2008, burning Madoff, commenting on Madoff then, Mado's leftist at the age of 82, he died in jail.

0:49.6

And Bankman freed now, what do they have in common?

0:52.2

What have we learned in 15 years of a

0:55.4

multi-billion dollar fraud in 2008 during the market crash and a

1:00.5

multi-billion dollar fraud in 2022, 2023 during a crypto crash.

1:08.0

Here's Simon.

1:09.0

Jim Lovell is the one whose sayings are the most famous famous mostly because it was his job to talk to the ground control during the hour or so after they fired their rocket engine, their upper stage engine in Earth orbit, and left Earth orbit heading to the moon.

1:27.0

And he talked about how we could see the entire Atlantic, including Africa and South America and the United States in one shot.

1:36.0

He said he could put his thumb across the entire earth.

1:39.0

He also said it was kind of like being in a tunnel watching the bright exit of the tunnel it's

1:45.8

receding from you because the only thing that was bright or colorful anywhere to be

1:50.8

seen in the sky was the earth and that was bright and as it moved away and got smaller

...

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