Curtains for Crypto Boy

Sam Bankman-Fried is in jail in the Bahamas tonight. Later today the U.S. attorney in Manhattan will pop open his indictment. Perhaps the first of several. SBF will be living in a federal lockup in the Big Apple pretty soon. Maybe the one where Jeffrey Epstein gave up the ghost. There are a lot of angry people out there who are extremely unhappy with Sam. Let's hope the security in all of the jails he occupies is tight.

Meanwhile, the focus is turning to his parents, whom I actually know. His dad is the main tax law professor at Stanford. I filled in for him 30 years ago, teaching a class while he was on paternity leave with Sam. His mom is also a Stanford law prof. Both parents were involved with his charitable endeavors, and with who knows what else he was doing. The mom and dad have a fancy house in Nassau held in their names. They've reportedly been down there for the last month. SBF says the house was supposed to his company's property.

The mom is retired, and I would think the dad's career is over now, too. He's no spring chicken, being eligible for Social Security and all. A couple of months ago, he didn't need it. He will now.

The harsh spotlight on the family won't go out for a long time, probably for the rest of the old folks' lives. Maybe they just got in over their heads trying to help their kid. But they're both lawyers trained in economics, and they're going to have a hard time pleading ignorance. One thing's for sure: They're all in a lot of trouble.

To be the tax professor at Stanford was a dream of mine for a long time. Eventually I realized I'm better off where I am. Hoo boy, am I ever better off than those guys on this particular night. They're in a real-life Shakespearean tragedy, and it may only be the start of Act II.


  1. looks like the dad is on paternity leave again.

  2. Heh, no kidding. The dad's an interesting guy; he became a clinical psychologist while teaching law. Maybe he'll make it long enough to put the whole thing in perspective some day. He has a brilliant mind... about some things. But his life expectancy has probably declined a great deal over the last six weeks. The next year (at least) is going to be a living hell, I'm sure.

    1. Goes to show that all the credentials and education can’t teach common sense. You called it all along.

  3. Scam artists usually have a magnetic personality. I don’t see one here.
    Crypto boy reminds me of the poker player who wonders who could be the mark at the table.

  4. As a parent one always worries about your children. I recall a visit I took with my Dad to visit his Mother in a retirement home a long time ago. She was really depressed and started going on about about her life was such a failure that none of her children accomplished much of anything. My Dad said "Well at least we stayed out of jail." That was my Dad always looking on the bright side.

  5. Proves my theory of 2 degrees of separation

  6. Makes Bernie Madeoff look like a piker


Post a Comment

The platform used for this blog is awfully wonky when it comes to comments. It may work for you, it may not. It's a Google thing, and beyond my control. Apologies if you can't get through. You can email me a comment at, and if it's appropriate, I can post it here for you.