Jonathan Lipson, a bankruptcy law expert at Temple Law School, dives into the tumultuous FTX bankruptcy proceedings. He discusses significant flaws in the U.S. bankruptcy system that these cases reveal. Lipson challenges the controversial choice not to appoint an examiner, raising critical questions about transparency and accountability. He also dissects the dynamic tensions between oversight and prosecution, and examines how FTX's leadership has navigated these legal complexities, affecting stakeholder recovery prospects.