Comments by "Magic Beans" (@Magic_beans_) on "How The Wolf of Wall Street Scam Actually Worked - How Money Works" video.

  1. That too, but also what the host meant by “proceeds of crime” is that we have laws against keeping the profits of a crime for which one has been convicted. Whether that includes publishing media about your crime or selling the rights to your story, that’s a legal grey area. Several states passed “Son of Sam” laws saying any proceeds must go to the victims rather than the perp, but those laws have been struck down by the Supreme Court and several lower courts. They could probably be rewritten though to be more airtight. [You may recall that OJ Simpson wrote a totally hypothetical narrative of how someone might hypothetically have killed his ex-wife and her friend. That was kind of a special case: OJ had declared bankruptcy, and the book was an income-producing asset.]
    23
  2. I think a lot of people would have been interested to understand how an IPO works. For a lot of people it just means some kind of automatic windfall for the people who (work at? manage? founded?) a startup.
    1