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comment by kleinbl00
kleinbl00  ·  10 days ago  ·  link  ·    ·  parent  ·  post: Y'all we gotta talk about FTX.

    "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented."

Said the guy who took apart Enron

    The exchange lacked accounting controls and expenses were approved on an internal chat, where “supervisors approved disbursements by responding with personalized emojis.”