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☆ FTX told architects that its headquarters should look like Sam Bankman-Fried's hair
▼ + stars: | 2023-10-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX planned a "mini city" headquarters in the Bahamas that was never constructed, per Michael Lewis' biography. They eventually got a list of three ideas from FTX, including that the side of the building should resemble SBF's hair. AdvertisementAdvertisementWhen FTX was planning its headquarters in the Bahamas, the architects were asked to make it resemble Sam Bankman-Fried's characteristic hairdo, according to Michael Lewis' biography. Lewis writes that the two architects, Ian Rosenfield and Alfia White, were given "several hundred million dollars" and told to "have at it." "That was the first and only question we got to ask him," Rosenfield told Lewis.

Persons: FTX, Michael Lewis, —, Sam Bankman, Lewis, Ian Rosenfield, White, Fried, Rosenfield Organizations: Service, Nassau Guardian, Fried's Locations: Bahamas

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins today. Here's everything you need to know.
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

Persons: Sam Bankman, SBF, —, FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda

☆ Anna Wintour's furious staff said Sam Bankman-Fried would 'never step foot in fashion again' after he snubbed her Met Gala invite
▼ + stars: | 2023-10-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Anna Wintour invited Sam Bankman-Fried to the Met Gala during a Zoom meeting on Valentine's Day 2022. Wintour's team were furious when he ultimately snubbed the invite, per Michael Lewis' new book about FTX. After the meeting Bankman-Fried thought: "'I would have to think hard if this is a thing I want to go to,'" per the excerpt. Bankman-Fried ultimately decided not to go, but it was FTX's former head of public relations, Natalie Tien, who had to deal with the fallout with Wintour's team. AdvertisementAdvertisementLewis wrote: "Natalie was prepared for Anna Wintour's people to be disappointed when she told them that Sam wouldn't be there.

Persons: Anna Wintour, Sam Bankman, Fried, Michael Lewis, —, Anna Wintour's, FTX's, Wintour, didn't, Lewis, Louis Vuitton, Tom Ford, Natalie Tien, Natalie, Sam wouldn't, Sam, FTX Organizations: Valentine's, Service, Beverly Hilton, CBS, Alameda Research Locations: Los Angeles, America, Alameda

On day one of Sam Bankman-Fried's criminal trial, assistant U.S. attorney, Danielle Sassoon, rattled off a lengthy list of potential witnesses who might be called to testify for either the government or the defense. The list, which was compiled jointly by both sides, was released during the afternoon session and included Bankman-Fried's brother, Gabe, as well his parents, Allan Joseph Bankman and his wife, Barbara Fried. Parents of the disgraced former CEO of FTX are themselves the subject of new scrutiny. Other entities that may take the witness stand included various venture funds and crypto-focused companies like Genesis, Lightspeed Venture Partners, Ontario Teachers Pension Fund, Third Point, Signature Bank, and Voyager Digital. Many of these businesses were hurt or wiped out by the collapse in cryptocurrency prices triggered in part by FTX's implosion.

Persons: Sam Bankman, Danielle Sassoon, Gabe, Allan Joseph Bankman, Barbara Fried, Ellison, FTX, Wang, Anthony Scaramucci, Fried Alfred Lin, Sequoia Capital Zac Prince, Michael Lewis Organizations: Alameda Research, U.S, SkyBridge, Sequoia Capital, Lightspeed Venture Partners, Ontario, Pension Fund, Signature Bank, Voyager Locations: Bankman, Manhattan

☆ FTX paid Tom Brady $55 million for 20 hours of work over 3 years: biography
▼ + stars: | 2023-10-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

It says Tom Brady was paid $55 million for 20 hours of work over three years. And Larry David was paid $10 million to star in FTX's 60-second Super Bowl ad. AdvertisementAdvertisementFTX paid Tom Brady $55 million in a partnership that would see him do just 20 hours of work over three years, according to Michael Lewis' biography about Sam Bankman-Fried. FTX had also agreed to pay Gisele Bündchen, Brady's then-wife, $19.8 million — again for just 20 hours of her time over three years. The book also notes that Larry David was paid $10 million to star in FTX's Super Bowl commercial.

Persons: Michael Lewis, Sam Bankman, Fried, Tom Brady, Larry David, —, Lewis, Anna Wintour, Wintour, FTX, we've, Tom, Gisele, Gisele Bündchen, Brady's, Brady Organizations: Service, Super

☆ Sam Bankman-Fried made Caroline Ellison a pros and cons list for a sexual relationship with him. One con was 'In a lot of ways I don't really have a soul.'
▼ + stars: | 2023-10-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried sent Caroline Ellison a pros and cons list on their romantic relationship. The list had more cons than pros, one of which was his lack of empathy, according to a new book. "In a lot of ways I don't really have a soul," Bankman-Fried wrote in the memo, according to Lewis. In the message, she listed some of her hang-ups with Bankman-Fried, including "confusing signals, e.g. AdvertisementAdvertisementDespite the risks noted in Bankman-Fried's pros and cons list, Ellison continued to pursue a relationship, Lewis said.

Persons: Sam Bankman, Fried, Caroline Ellison, Ellison, —, Michael Lewis, Lewis, — Ellison, Caroline, Sam, Bankman Organizations: Service, Alameda Research, Bankman, Prosecutors, The New York Times Locations: Bankman, FTX

☆ The 6 wildest details about Sam Bankman-Fried that Michael Lewis revealed in a tell-all interview
▼ + stars: | 2023-10-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +9 min

Michael Lewis gave a peek into details from his new book on Sam Bankman-Fried in a tell-all interview. AdvertisementAdvertisement"The Big Short" author Michael Lewis shared some of the wildest details from his forthcoming book on disgraced FTX cofounder Sam Bankman-Fried during a tell-all interview with "60 Minutes" on Sunday. Tom Brady and Sam Bankman-Fried had an unlikely friendship, according to Michael Lewis. Sam Bankman-Fried, a known "League of Legends" fan, played a video game during his first live TV interview, Michael Lewis said. Sam Bankman-Fried.

Persons: Michael Lewis, Sam Bankman, Lewis, SBF, Tom Brady, Donald Trump, —, Bankman, Sam, Erin Schaff, Insider's Lloyd Lee, Fried, Trump, Brady, Sebastian Widmann, Sam wasn't, FTX, he's, Larry David, Steph Curry's, Steph Curry, Anna Wintour, Matt Winkelmeyer, Vogue's Anna Wintour, Wintour, Spokespeople, David, Curry, Michael M, Bernie Madoff, Elizabeth Holmes, Jim Spellman, WireImage Lewis Organizations: Service, Trump, NFL, Super, Miami, Sequoia Capital, Metropolitan Detention, Prosecutors, Alameda Research, Bankman Locations: New York, Trump, Hollywood, America, Bahamas, Brooklyn

☆ The Rise and Fall of SBF
▼ + stars: | 2023-10-02 | by ( Andy Kessler | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: AP/AFP/Getty Images Composite: Mark KellyI first got to know author Michael Lewis, then of “Liar’s Poker” fame, when in the mid-1990s I took him around Silicon Valley in an old beat-up convertible. I told stories and showed him where the first integrated circuit and microprocessor were invented, plus Xerox Parc and its beanbag chairs, Hewlett Packard and Intel. As we drove around, I shared my history with entrepreneur Jim Clark, his time at Silicon Graphics and early days with Netscape, and of the venture capitalist Glenn Mueller, who committed suicide after being denied access to invest.

Persons: Kim Strassel, Bill McGurn, Dan Henninger, Mark Kelly, Michael Lewis, “, Hewlett, Jim Clark, Glenn Mueller Organizations: Getty, Xerox Parc, Hewlett Packard, Intel, Silicon Graphics, Netscape Locations: Silicon

☆ Sam Bankman-Fried was a horrible manager, says 'Big Short' author Michael Lewis
▼ + stars: | 2023-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried was a "horrible" manager, Michael Lewis told "60 Minutes." Lewis is the author of "Going Infinite," a new book about Bankman-Fried, which is set for release on Tuesday. AdvertisementAdvertisementSam Bankman-Fried was a "horrible" manager, according to author Michael Lewis, who has written a new book about the cofounder of failed crypto exchange FTX. He told Lewis FTX didn't really have a board. And there was nobody there to say, like, 'Don't, don't do that,'" the author added.

Persons: Sam Bankman, Fried, Michael Lewis, Lewis, SBF's, —, Bankman, Lewis FTX didn't, it's, FTX, George Stephanopoulos Organizations: Service, CBS, ABC News, Bankman

☆ Sam Bankman-Fried wanted to pay Donald Trump not to run for office. The price? $5 billion, says his biographer.
▼ + stars: | 2023-10-02 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried, the FTX founder, is in jail and faces several federal charges. He looked into whether he could pay Donald Trump not to run in 2024, Michael Lewis wrote. Michael Lewis reports that Sam Bankman-Fried considered paying Donald Trump not to run for president. Lewis said that Bankman-Fried never learned if the $5 billion number came directly from Trump. "Isn't Sam Bankman-Fried a liar who has been outed as a fraudster and someone that can't be trusted," Steven Cheung, Trump's spokesperson, wrote in a brief response to an inquiry from Insider.

Persons: Sam Bankman, Fried, Donald Trump, Michael Lewis, —, Lewis, Sam, Trump, WtGO1TPP4A, Jon Wertheim, Wertheim, Steven Cheung, FTX Organizations: Republicans, Service, Trump, Forbes, FTX's, Alameda Research Locations: Trump, Alameda, Brooklyn

☆ Sam Bankman-Fried was playing a video game while being interviewed on live TV for the first time, author of FTX book says
▼ + stars: | 2023-10-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried reportedly played a video game the first time he was interviewed on live TV. Author Michael Lewis said a clip showed SBF's eyes moving as he tried to win the game while on air. AdvertisementAdvertisementFTX cofounder Sam Bankman-Fried reportedly played a video game during his first appearance on live TV. It's because he's trying to win his video game at the same time he's on the air." AdvertisementAdvertisementThe incident is not the first time the former FTX CEO has been caught playing video games in professional settings.

Persons: Sam Bankman, Fried, Michael Lewis, —, Lewis, he's, Caroline Ellison, Gary Wang, Nishad Singh Organizations: Service, CBS, League, Sequoia, Bankman, Alameda Research, Justice Department Locations: Sequoia Capital, FTX

☆ Tom Brady 'adored' Sam Bankman-Fried despite them being the 'class nerd and the quarterback,' says author Michael Lewis
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Tom Brady and Sam Bankman-Fried got along despite being polar opposites, says Michael Lewis. Lewis told "60 Minutes" that the pair were like "like the class nerd and the quarterback." AdvertisementAdvertisementFormer NFL quarterback Tom Brady "adored" Sam Bankman-Fried despite the two being polar opposites, says the author of an upcoming book on FTX. "And he really liked Tom Brady. "Like, even the nerds don't hang out with this nerd, he's such a nerd," Lewis said.

Persons: Tom Brady, Sam Bankman, Fried, Michael Lewis, Lewis, Brady, —, Jon Wertheim, Sam wasn't, he's, FTX Organizations: Service, Bankman, CBS, Forbes Locations: FTX, Alameda

☆ Sam Bankman-Fried met with the prime minister of the Bahamas to discuss paying off the country's entire roughly $10 billion national debt, biography says
▼ + stars: | 2023-10-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

So he met with its prime minister to discuss paying off its whole national debt, per Michael Lewis' biography. AdvertisementAdvertisementSam Bankman-Fried once discussed paying off the Bahamas' entire national debt with the country's prime minister, according to an excerpt of Michael Lewis' upcoming biography shared by The Times of London. So Bankman-Fried started considering the idea of paying off the Bahamas' national debt himself, so the country could fix roads and build schools more easily, according to Lewis. That idea was also discussed in a meeting with the prime minister of the Bahamas, Philip Davis, the biography says. The Office of the Prime Minister of the Bahamas did not immediately respond to Insider's request for comment, sent outside normal working hours.

Persons: FTX, SBF, Michael Lewis, —, Sam Bankman, Fried, Lewis —, Lewis, Philip Davis, Davis, Donald Trump Organizations: Service, The Times, CBS, International Monetary Fund Locations: Hong Kong, Bahamas, Caribbean, London, —, Nassau

☆ Short seller Jim Chanos slams Michael Lewis' defense of FTX and compares the failed crypto exchange to Enron
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jim Chanos called Michael Lewis' defense of FTX "nonsense" on Sunday. Lewis had told CBS's "60 Minutes" that the crypto exchange failed because of a bank run. AdvertisementAdvertisementJim Chanos has slammed Michael Lewis' defense of FTX, flatly dismissing the idea that the failed crypto exchange would have been fine without a wave of withdrawals. Lewis appeared on CBS's "60 Minutes" Sunday to discuss his upcoming book about Sam Bankman-Fried, "Going Infinite". AdvertisementAdvertisement"This is nonsense, as both FTX and Enron were both massively insolvent, not illiquid," the short seller added.

Persons: Jim Chanos, Michael Lewis, Lewis, CBS's, —, FTX, Sam Bankman, Chanos, CoinDesk, Fried, Donald Trump Organizations: Service, Enron, Alameda Research, New York City Locations: New York

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins this week. Here's everything you need to know.
▼ + stars: | 2023-10-02 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court on Tuesday. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

☆ 'Big Short' author Michael Lewis says Sam Bankman-Fried came to him for advice on ideas — like buying Twitter with Elon Musk
▼ + stars: | 2023-10-02 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Michael Lewis' book on the rise and fall of cryptocurrency exchange FTX is set to be published on Tuesday. "The Big Short" author told CBS' "60 Minutes" SBF used him as a sounding board for ideas, including buying Twitter with Elon Musk. AdvertisementAdvertisementSam Bankman-Fried, the disgraced former CEO of crypto exchange FTX, used "The Big Short" author Michael Lewis as a sounding board for ideas — including one about acquiring Twitter. Lewis told CBS that Bankman-Fried came to him for advice on a variety of ideas. Should I join Elon Musk in buying Twitter?

Persons: Michael Lewis, SBF, Elon Musk, Lewis, —, Sam Bankman, Fried, Musk, Will MacAskill —, Musk's, Grimes texted Organizations: CBS, Elon, Service, Twitter, Forbes

☆ Sam Bankman-Fried would readily choose a Brooklyn jail cell with internet access over a $39 million Bahamas penthouse that doesn't have Wi-Fi, author of FTX book says
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

For Sam Bankman-Fried, losing internet access is more frightening than jail, says Michael Lewis. Lewis told "60 Minutes" he thinks Bankman-Fried "could survive jail forever" if he had internet access. AdvertisementAdvertisementDisgraced FTX founder Sam Bankman-Fried is more afraid of losing access to the internet than getting locked up, according to the author of an upcoming book on FTX. Michael Lewis shared his views on Bankman-Fried during an interview on "60 Minutes," which aired on Sunday. Lewis told "60 Minutes" that Bankman-Fried's greatest fear about going to prison would be losing his internet access.

Persons: Sam Bankman, Michael Lewis, Lewis, —, Fried Organizations: Service, Metropolitan Detention, Bankman Locations: FTX, Bahamas, Brooklyn, Alameda

☆ Anna Wintour wanted Sam Bankman-Fried to sponsor the Met Gala, but he had no idea who she was, FTX book author says
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Anna Wintour once sought Sam Bankman-Fried's sponsorship for the Met Gala, says Michael Lewis. But the author told "60 Minutes" that Bankman-Fried had no idea who Wintour was. AdvertisementAdvertisementVogue's Anna Wintour wanted to secure Sam Bankman-Fried's sponsorship for the Met Gala, but Bankman-Fried didn't know who she was, according to the author of an upcoming book on FTX. And he says, "There's this person named Anna Wintour,'" Lewis told "60 Minutes" correspondent Jon Wertheim. Lewis told "60 Minutes" that on this particular occasion, he "sat off to one side," where Wintour couldn't see him on the call.

Persons: Anna Wintour, Sam Bankman, Michael Lewis, Fried, Wintour, Lewis, —, Jon Wertheim, Wintour couldn't, Bankman, FTX Organizations: Service, New York's Metropolitan Museum of Art, Court, District of Locations: America, Bankman, District of Delaware, Alameda

☆ FTX spent $1 million removing one doorway and adding another after a dispute over feng shui, biography says
▼ + stars: | 2023-10-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX hired two architects to design its multi-million dollar Bahamas HQ, per an upcoming biography. That unveiled one anecdote where FTX spent $1 million to settle an argument over a door in its former office. AdvertisementAdvertisementFTX spent $1 million removing one doorway and adding another when it was headquartered in Hong Kong, according to an excerpt from Michael Lewis' upcoming biography shared by The Times of London. AdvertisementAdvertisement"We were supposed to design a mini-city," Rosenfield told the biographer. In the end, the doorway was removed and another one was added instead, which cost $1 million, according to Lewis' biography.

Persons: FTX, —, Michael Lewis, Lewis, Ian Rosenfield, White, Rosenfield, I've Organizations: Bahamas, Service, The Times, Fortune Locations: Hong Kong, London, Bahamas, Asia

☆ Bankman-Fried explored paying Trump not to run for president, book excerpt says
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves following a hearing at Manhattan federal court in New York City, U.S. January 3, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 1 (Reuters) - Jailed former billionaire Sam Bankman-Fried considered paying former U.S. President Donald Trump to not run for re-election in 2020, according to an excerpt of a forthcoming book published on Sunday. "On a separate front, he explained to me, as the plane descended into Washington, he was exploring the legality of paying Donald Trump himself not to run for president," Lewis wrote. "His team had somehow created a back channel into the Trump operation and returned with the not terribly Earth-shattering news that Donald Trump might indeed have his price: $5 billion. The excerpt did not discuss why Bankman-Fried did not press ahead with the plans.

Persons: Sam Bankman, Andrew Kelly, Fried, Donald Trump, Michael Lewis, Mitch McConnell, Lewis, Trump, Sam, Jyoti Narayan, Edwina Gibbs Organizations: FTX, Manhattan, REUTERS, Washington Post, Republican, Thomson Locations: New York City, U.S, Washington, Bengaluru

☆ Sam Bankman-Fried considered paying Trump $5 billion not to run for president, Michael Lewis tells '60 Minutes'
▼ + stars: | 2023-10-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, the alleged crypto criminal who stands accused of masterminding one of the biggest financial frauds in U.S. history, was considering paying Donald Trump $5 billion not to run for president, according to best-selling author Michael Lewis. In an interview with CBS's "60 Minutes" that aired on Sunday, Lewis said the FTX founder wanted to put a stop to a Trump White House run in 2024 over fears that the former president was a threat to democracy. "Sam's thinking, 'We could pay Donald Trump not to run for president. And the number that was kicking around when I was talking to Sam about this was $5 billion. Sam was not sure that number came directly from Trump."

Persons: Sam Bankman, Donald Trump, Michael Lewis, CBS's, Lewis, Sam, Fried, Bernie Madoff Organizations: Trump White, Bankman Locations: New York, Trump, Manhattan

☆ Sam Bankman-Fried took 21 private jet trips to and from Washington, and chartered Cessnas to transport Amazon packages to FTX HQ, sources say
▼ + stars: | 2023-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .

Persons: FTX, Fried, —, Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale

☆ ‘Big Short’ investor Steve Eisman says the whole bank sector is 'uninvestable'
▼ + stars: | 2023-09-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman, the investor who called and profited from the subprime mortgage crisis, said Thursday that he's staying away from bank stocks due to risks from crimped margins and tougher regulations. "I happen to think the whole bank sector is uninvestable," Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's " Squawk Box. " Uncertainty caused by the collapse of Silicon Valley Bank earlier this year triggered outflows at other regional banks and larger institutions. With short-term rates spiking higher than long-term rates, bank margins have been hurt. The SPDR S & P Regional Banking ETF , which tracks 140 regional banks, has fallen more than 33% this year.

Persons: Steve Eisman, he's, Eisman, Neuberger Berman, Eisman's, Banks, Michael Lewis Organizations: Federal, Regional Banking ETF Locations: Silicon

☆ Tuohy family denies Michael Oher accusations, says NFL player was paid for 'The Blind Side' story, court documents say
▼ + stars: | 2023-09-15 | by ( Jennifer Henderson Eric Levenson | Jennifer Henderson | Eric Levenson | ) edition.cnn.com time to read: +3 min

Oher’s petition says soon after he moved in with the family in 2004, the Tuohys gave him legal papers he thought were necessary for the adoption. Conservatorship was the tool chosen to accomplish this goal.”“There was never an intent to adopt him,” the Tuohy’s response states. The Tuohys say it is “demonstrably false” that Oher only found out in February 2023 that he wasn’t adopted. The Tuohys say all the money received from “The Blind Side” movie has been split equally between Sean and Leigh Anne, their two children and Oher – 20% each. The Tuohys said Oher’s share was paid to them, they paid the taxes for a period of time but wrote Oher a check for his full 20% share.

Persons: Sean, Leigh Anne Tuohy, Michael Oher, Oher, “, ”, Oher’s, Conservatorship, wasn’t, Tuohys, Michael Lewis, Leigh Anne, Don Barrett, Mike, ” Barrett Organizations: CNN, NFL, football “, NCAA, Ole Miss, Mike’s Locations: Tennessee, Oher

Lawyers representing the couple also said the Tuohys would enter into a consent order to end the conservatorship. But Oher’s conservatorship was approved “despite the fact that he was over 18 years old and had no diagnosed physical or psychological disabilities,” his petition said. The Tuoys' filing said Oher referred to them as “mom” and dad," and they occasionally referred to Oher as a son. Agents negotiated a small advance for the Tuohys from the production company for “The Blind Side,” based on a book written by Sean Tuohy’s friend Michael Lewis, the couple’s lawyers have said. The attorneys said they estimated each of the Tuohys and Oher received $100,000 apiece, and the couple paid taxes on Oher’s portion for him.

Persons: Michael Oher, Sean, Leigh Anne Tuohy, Oher, Sandra Bullock, Oscar, Oher’s conservatorship, ”, ” “, Tuohys, Sean Tuohy, ” Ole Miss, Ole, Sean Tuohy’s, Michael Lewis, “ Organizations: NFL, Oher, NCAA, University of Mississippi, Ole Miss, Agents, Baltimore Ravens, Tennessee Titans Locations: MEMPHIS, Tenn, Memphis, Tennessee, Mississippi, Carolina

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