Sam Bankman-Fried And The Pandemic Industrial Complex

The collapse of Sam Bankman-Fried and his fraudulent cryptocurrency empire at FTX is news at its most entertaining. Who doesn’t love the story of a bigshot billionaire revealed to be an outright fraud? It’s black-and-white. FTX owes billions in debt and doesn’t actually own a dime of the assets it claimed. Game over.

At first blush, the story seems simple. A con man cynically convinced a bunch of gullible financiers that he was a an eccentric young visionary and a really great guy, and h...

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