UK Column News - Monday, 21st November 2022 58:51 - Off-the-scale hypocrisy: FTX did nothing worse than banks do

 

UK Column News - Monday, 21st November 2022 58:51 - Off-the-scale hypocrisy: FTX did nothing worse than banks do

58:51 Financial Times: Let Crypto Burn—as if the mainstream banking system were any less charlatan than the bust FTX was

FT’s charge sheet against FTX: “lack of transparency, misuse of customer funds, related-party dealings, weak corporate governance and acceptance of phantom collateral”—could just as well be a description of the City of London or Wall Street

Transparency International: Who doesn’t know the Cayman Islands is a great place to hide money?—FTX used the Bahamas but suited bankers use other Caribbean domiciles

City AM—Saturday Special: The biggest money laundering scandals in banking—litany of sins by a screed of high-street bank names

David Scott commentary: The rules brought in after each banking collapse are not our friend; they’re in place to protect the perpetrators