From Breakingviews - Politicians could do better with FTX donations
Madoff and Stanford’s political contributions, totaling hundreds of thousands of dollars each, pale in comparison to the $84 million-plus FTX executives gave campaigns. That sum, which may not include the donations mentioned in recent charges, makes Bankman-Fried Democrats’ second-largest donor last election cycle, while his fellow executive Ryan Salame gave over $23 million, mostly to conservative causes.
Ray, then, has more to gain by reclaiming donations from politicians. Yet many, including U.S. congressional leaders Hakeem Jeffries, Pete Aguilar, and Lisa Murkowski, told theRecipients of Madoff and Stanford’s money got off relatively easy, in part because of how logistically burdensome it is to recover those sums. Politicians who ditched their FTX-linked funds shouldn’t expect the same treatment.
Still, politicians look complicit in a weak system. Passing off donations stops the money trail, and it keeps lawmakers from having to be contrite about the source of the funds. A better solution would be to proactively hand the cash back and vow to be more discerning about where it is coming from.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Breakingviews - Beijing mutes ChatGPT meme rallyThe rally in Chinese stocks associated with conversational bots, a side-effect of the popularity of OpenAI’s ChatGPT, has been knocked sideways. Beijing has ordered big Chinese technology companies including Tencent and Ant not to offer ChatGPT services on their platforms, the Nikkei reported citing people with direct knowledge. Meanwhile, state media, which once waxed lyrical about a “golden era” of gabby AI models, have pivoted to warning of their risks.
Baca lebih lajut »
Breakingviews - Amazon delivers a regulatory breather to Big TechTrustbusters may have finally discovered their eyes are bigger than their stomachs. The U.S. Federal Trade Commission said it won’t challenge Amazon.com’s $3.9 billion acquisition of physician network One Medical. As the deal moves forward, deal-hungry technology giants can take a small breather.
Baca lebih lajut »
Breakingviews - Hong Kong spreads its wings, and its betsFor a sign that Hong Kong’s recovery is more than wishful thinking, look no further than the city’s Disneyland. Staffing up for an influx of tourism, its owner this month attracted some 3,000 people to a job fair ahead of its biggest expansion project so far. The house of Mickey Mouse is implicitly betting Hong Kong will soon be back, and bigger than before. The city’s leaders hope that what’s true for one magic kingdom might be true of another: Hong Kong’s finance industry.
Baca lebih lajut »
Breakingviews - Rolls-Royce strategy bind is a problem best sharedRolls-Royce's flight path to financial wellbeing contains gathering cost clouds. The $13 billion aero-engine maker saw its shares surge by a fifth on Thursday as it beat expectations for 2022, after a year blighted by an acute aviation sector recession. But new Chief Executive Tufan Erginbilgic still has a problem.
Baca lebih lajut »
Breakingviews - Miners’ bets on the future of coal are divergingInvestors have a common understanding that coal is the dirtiest energy source. But when it comes to exit paths for the fossil fuel, miners do not see eye to eye. UK-listed Anglo American’s earnings on Thursday showed EBITDA in the $50 billion group’s metallurgical coal division tripled to over $2.7 billion in 2022. That comes days after $22 billion Canadian mining peer Teck Resources said it would spin off its equivalent division, integral to the production of steel, into a new $11.5 billion entity. With “met coal” constituting a fifth of Anglo’s overall EBITDA, investors may wonder whether boss Duncan Wanblad will follow Teck’s step.
Baca lebih lajut »
Breakingviews - Ukraine’s long shadow on business and geopolitics: podcastIt’s been 12 months since Russian President Vladimir Putin’s bloody invasion. In this Viewsroom podcast, Breakingviews columnists discuss how energy markets have changed for good, how defence companies are benefiting, and another potential conflict troubling CEOs and investors.
Baca lebih lajut »