Monday, December 19, 2022

The Daily Money: FTX Chief is expected not to fight extradition

Sam Bankman-Fried is unlikely to fight being extradited to the U.S. where he's accused of several crimes stemming from the crash of FTX. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Monday, December 19

It's Monday and if you're buying holiday gifts, you don't have much time left. It's Charisse Jones with Daily Money headlines you can thumb through in between making your list and checking it twice.   

So how did ESG become a political fault line? Investment strategies focused on environmental, social, governance principles have become a popular foil for the GOP, with many of its leaders accusing top money managers of prioritizing a liberal agenda over creating profits for investors.

Republican-run states have pulled billions from money management firms like BlackRock, but many money managers argue that, along with strong returns, they have a responsibility to consider how they impact communities in areas ranging from the environment to diversity.  

Sam Bankman-Fried of FTX is expected to not fight extradition 

Sam Bankman-Fried is unlikely to fight being extradited to the U.S. where he's accused of several criminal and civil charges stemming from the crash of his cryptocurrency exchange FTX.

Bankman-Fried was due to appear in a Bahamian courtroom on Monday after he was arrested last week at the request of the U.S. government. His legal team had said they would fight his having to return to the U.S. to face charges including money laundering and wire fraud, but Bankman-Fried is now expected to waive extradition..

📰 More stories you shouldn't miss 📰

Coal in your stocking? The use of coal is expected to exceed 8 billion tons this year, the most ever consumed, and a stark reminder of how many nations are trying to deal with higher gas prices and a worldwide energy crisis.  

How far will the Fed go? Federal Reserve officials said last week that they may increase interest rates more than they'd expected in 2023. That will make it even more expensive to carry credit card debt or to take out a loan for a car or mortgage, but some economists doubt the rates will spike as much as the Fed is predicting. 

Inflation cools, but maybe not soon enough. Inflation which soared to a 40-year high in June dipped to 7.1% for the 12 months up to November. But data shows that may be of little comfort to Americans who are increasingly living paycheck to paycheck and potentially paring expenses this holiday season.  

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Charisse Jones on Twitter: @charissejones.

FTX founder Sam Bankman-Fried, top right, is escorted from a corrections van into the Magistrate Court in Nassau, Bahamas, Monday, Dec. 19, 2022.
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