Against the Rules with Michael Lewis Judging Sam: Opening Statements
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Oct 6, 2023 Lidia Jean Kott, a reporter covering the Sam Bankman-Fried trial, and Rebecca Mermelstein, a partner at O’Melveny & Myers, dive deep into the unfolding courtroom drama. They discuss the stark contrasts between the prosecution's bold opening statements and the defense's quieter approach. Witness testimonies play a crucial role, revealing financial mismanagement at FTX. The unique courtroom atmosphere, with its old-school charm and absence of electronics, adds an intriguing backdrop to this high-stakes legal battle.
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Prosecution's Bombastic Opening
- The prosecution's opening statement was bombastic, using simple sentences and directly pointing at SBF.
- They emphasized SBF's lies to customers, investors, and lenders, simplifying the case to theft.
Defense's Narrative
- The defense portrayed SBF as a young, well-intentioned math nerd whose company failed.
- They used the metaphor of building a plane while flying it to explain the company's rapid growth and crash.
Defense's Subtle Approach
- The defense didn't call the cooperators liars, but suggested they might be mistaken due to hindsight.
- They argued the cooperators interpreted ambiguous statements in light of what the government desired.