Sam Bankman-Fried arrested on multiple chargers

Remember how he was promoted by the ruling class with an interview on tv with bill clinton, a glowing write up in Fortune magazine,a major write up in venture capitalist firm Sequoia publication where he was labelled as a legend andhigh proile sportspersons such as tom brady promoting his business. A major donor to both parties but mote so to the Democrats. The question has to be asked - where was the Regulator??

The FTX crypto collapse is a mere microcosm of Capitalism that continues to depend more on Ponzi forms of investments for generating profits. In fact the massive liquidity injections coming from central banks particularly in the last decade or so has created colossal valuations of fictitious assets that had become deeply addicted to cheap flow of money for sustaining their schemes . The absence of regulators and the silence of the fake left through out this period is a damning exposure of how they were all benefiting from this fraudulent environment. A clear lesson that one can get from all this bitter experience is that human needs can by no means be secured under bourgeois social relations which that would need a socialist alternative to put an end to this ongoing misery and chaos.

For the bourgeois circles it is always the actions of few bad apples and never the totality of the system that produces these criminal and corrupt practices.