Sam Bankman-Fried

Why Thames Water is the pariah of post-privatisation capitalism

‘It would have been ideal not to have so  much poo in the water,’ said Oxford captain Leonard Jenkins after losing the university boat race to Cambridge last Saturday. Thames Water blamed high groundwater levels after weeks of rain for sewage discharges that are a less unpleasant alternative than ‘letting it back up into people’s homes’. But no one’s listening to the excuses – for the failing utility, that is, not the dark-blue crew. Thames Water is the pariah of post-privatisation capitalism, facing a charge sheet of poor service and financial opportunism of which rising tides of river filth are merely pungent symbols. The argument that water should never have

Has crypto finally had its day?

If you run an organisation, there are some reporters you definitely don’t want around: Ronan Farrow asking for comment; Madison Marriage or Dan McCrum with a couple of questions; Michael Wolff hanging out on a sofa taking notes. Michael Lewis is not one of those reporters. If he wants to spend time with you, you are about to be lionised as a decent person who sees just a bit more clearly than the fools who run the system of which you are a part, which will make you wildly rich (unless you’re an academic or a public servant) and famous. When Michael Lewis calls, people answer. Lewis raises enough questions

Why the Greeks invented virtue

I had a good talk with my NBF, Owen Matthews, at The Spectator’s writers’ party, and we agreed on the two subjects we talked about: Russia and women. I won’t exaggerate the enormity of our aggregate knowledge – and the way we have deployed it in our service, especially where the fairer sex is concerned. Suffice to say that it is far beyond the comprehension of most individuals who concern themselves only with money. Speaking of loot, I have a gent’s bet with a friend that Sam Bankman-Fried of FTX infamy – accused of having stolen billions while attempting to recover his financial blunders – will get away with a