Against the Rules with Michael Lewis
On Background: The Political Spender America Deserves
Aug 15, 2023
Jordan Libowitz, Communications Director at the Center for Responsibility and Ethics in Washington (CREW), dives deep into the murky waters of campaign finance law. He highlights the staggering $40 million political donations from crypto mogul Sam Bankman-Fried and its implications. Libowitz explains how this troubling situation encapsulates the rise of dark money in politics, the consequences of the Supreme Court's Citizens United ruling, and the ethical dilemmas inherent in political spending. His insights reveal why accountability in political donations is crucial for democracy.
29:02
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Quick takeaways
- Sam Bankman-Fried gave $40 million in illegal political donations, catching the attention of campaign finance watchdogs.
- The podcast explores the controversial world of campaign finance law, including dark money and the challenges in enforcing regulations.
Deep dives
Summary of the Podcast Episode: Going Infinite - The Rise and Fall of a New Tycoon
In this podcast episode, Michael Lewis provides an overview of his upcoming book, 'Going Infinite: The Rise and Fall of a New Tycoon'. The book focuses on the story of Sam Bankman Fried, the founder of FTX, a cryptocurrency exchange. Lewis takes readers on a journey to understand who Bankman Fried is, his motivations, and the impact of his spectacular rise and fall on the broader community. The book delves into Bankman Fried's unconventional approach to business and the consequences he faced when his actions caught up with him. 'Going Infinite' is set to be published on October 3rd, 2023.
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