Amazing stuff.#SBF was financial illiterate. He thought effective altruism meant he could rip people off, that it was OK to use new investor money to pay the old… Another reason why we need early financial education - to help kids understand money ethics, hopefully preventing future SBF’s.
— Sheila Bair (@SheilaBair2013) March 29, 2024
Rich boy, academic parents, MIT educated, worked at a major trading firm... Just a bit miseducated, didn't know the rules.