FTX bankruptcy shows the company had 134 affiliates spread across the globe and may have liabilities of up to $50 billion.
Enron had liabilities of $23 billion.
FTX may be worse than Enron.
Brian Sullivan
18.5K posts
Brian Sullivan
@SullyCNBC
CNBC TV (2p ET) & Energy lead. Creator/author of energy focused Power Insider intelligence. 50 states, 40 countries and counting.
insta: BrianSullivan
- Ford laying off 'at least' 1,000 salaried and contract workers. It will lose $3 billion making EVs this year. Ford is now likely losing more than $30,000 on every electric it sells. Last week the federal government (i.e. you) loaned Ford and a South Korean company $9.2
- The collapse of #walgreens has been unlike anything I've ever seen in big retail. It's down 24% today and has now lost 80% of its value in under 5 years. This is America's largest pharmacy chain .. with over 8,500 stores & more than 300,000 employees. Simply insane.
- CEO of real estate co that leases to the federal government just told @CNBC that government build costs are 3X his (the private sector). For the same building.
- I know I'm in my mid 50s but my god almost everyone I know is getting cancer, knows someone who has cancer, had a stroke or is otherwise getting sick. 3 more stories the last two days. Maybe it is just us ... but if you know anyone dealing with serious illness, thinking of
- Saw a teenager get snapped at walking through Newark Airport tonight for having his mask under his nose. Literally 10 feet away 40 unmasked adults were crammed at a bar laughing it up over drinks. We do realize the kids know what's going on, right?
- In 2009 the last incandescent light bulb factory in America shut down. It was in my high school hometown of Winchester, Virginia. About 280 people lost solid jobs so we could make so called "green" light bulbs in central China. 11,000 miles to ship stuff to back to America
- Banks crushed today .. contagion fears ramping .. Silicon Valley Bank ($SVB) the catalyst today .. Silvergate yesterday. not a good sign.
- Musk just told Disney CEO Bob Iger to go ____ himself. And there you go.
- People went ballistic about 7% inflation last year … and now we’re happy about 8.5% inflation because someone thought it might come in higher. Ah, Wall Street.
- Goldman Sachs report: the Inflation Reduction Act’s green subsidies could cost $1.2 trillion—more than 3X govt projections. WSJ says the IRA may go down as one of the greatest cons ever on the American taxpayer.
- bonkers story. Popular decongestant is challenged by scientists in 2007 as being ineffective FDA apparently says “hey, let’s keep it on the market” Tens of millions take it. 16 years later FDA votes 16-0 that it really, truly doesn’t work
