The current FTX President, John Ray, who is attempting to clean up all the mess left by SBF, testified before the committee today that “FTX commingled consumer monies with the FTX Foundation and related NGOs to push SBF’s pet projects and liberal causes.” Ray further told the committee that recordkeeping had “absolutely no internal procedures whatsoever,” noting:
“It’s among the worst in terms of paperwork. Even in the most failing businesses, there is a reasonable blueprint of what transpired. We’re dealing with a paperless bankruptcy in terms of how they formed the firm,” he told the committee. “It makes it extremely difficult to track and trace assets especially, as I’ve stated, in the crypto realm. In terms of documentation, it’s truly unprecedented.”
The fun really began when Waters attempted to end the session without allowing all committee members to ask questions. Rep. Lance Gooden (R-TX) continuously tried to grab Waters’ attention and request his time to question the witness as she began her concluding statements and thanked Ray on his testimony. After an aide whispered in her ear, Waters continued with her final statements and disregarded Gooden, forcing Gooden to speak loudly again and demand a “parliamentary investigation.” A clearly irritated Waters shouted in Gooden’s way and hesitantly, yet flippantly — some could even say begrudgingly — granted him his five minutes of inquiry.
“You’re absolutely welcome, sir,” she responded, in sarcastic tones like that of a spoiled teen girl who did not get her way. People continue re-electing this terrible woman, who is long past her sell-by date and also has developed a bitter, self-important mentality that comes from spending far too many years in DC. She reportedly only smiles when blowing kisses to Dem. megadonors like SBF.
Speaking about SBF and the large sums of money he provided to Dems. in the midterms (not to mention the millions he dumped into Biden’s 2020 campaign), Waters may have tried to conclude the session prematurely in order to avoid questioning regarding this. As previously revealed by RedState, Dems. on the House Finance Committee received over $300,000 in contributions from SBF as well as his FTX co-founders, with Democrat Representatives Chuy Garcia, Ritchie Torres, Jim Himes, Josh Gottheimer, and Sean Casten receiving the majority of SBF’s ill-gotten earnings.
Sadly for Maxine Waters but thankfully for the rest of us her tenure as chairperson of this crucial committee is drawing to a close, with GOP Patrick McHenry taking over within a few weeks. Life as a minority will be difficult for the entitled Maxine Waters, but it will almost certainly result in new eruptions and scowling rejoinders that we will enjoy.
On Jan. 3, 2023, Republicans will take control of the House.