
By John Ruberry
While increasingly irrelevant, the mainstream media is still a force to be reckoned with in regard to shaping opinion. Despite paywalls at many newspaper and magazine sites, revenue is down, and layoffs are up. The paywalls of course limit readership, and usually, considering what is produced by the MSM, that’s a good thing.
You probably that FTX, a Bahamas-based cryptocurrency firm that is incorporated in Antigua and Barbuda, filed for bankruptcy protection a few days after Election Day.
Oh, Election Day, is that a non-sequitur?
Nope.
The co-founder, and until November 11, the CEO of FTX, Sam Bankman-Fried, was the second-largest contributor to Democrats in the 2022 midterms. Nearly $40 million in SBF funds went to the Dems, most of that money ended up in three Democrat-PACs. Only George Soros, who made his fortune in currency trading, donated more to the Dems during the midterm cycle.
Bankman-Fried, often referred to as SBF, has not been charged with any crimes. Still, there are comparisons being made between SBF and Ponzi-schemer Bernie Madoff, as well as the collapse of Enron. Bankman-Fried’s successor at FTC, John Ray III, who did the best he could in cleaning up Enron, had this to say about his new employer, “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.” Larry Summers, alluded to the Enron debacle too. “The smartest guys in the room. Not just financial error but — certainly from the reports — whiffs of fraud,” the former Treasury secretary under Barack Obama said. “Vast explosion of wealth that nobody quite understands where it comes from.”
And I believe there is a bit of the Fyre Fest hoaxster, Billy McFarland, embedded in Bankman-Fried’s mental DNA.
Notwithstanding Summers remark, there have been few if any screams of anger from prominent Democrats about the FTX ruination. I wonder why. Not!
The mainstream media coverage of Bankman-Fried has largely avoided this word–megadonor. Which is of course how the MSM reflexively labels major Republican campaign contributors such as Ken Griffin, Andy Sabin, Ronald Lauder and so many more. When I entered “megadonor” into the Google News site this morning and their names popped up. Not so much with SBF–and most of those mentions came from conservative-leaning sites such as Fox Business and the Washington Free Beacon. NBC News managed to use the word “megadonor” in an article about SBF–but take a look at the mournful headline that accompanied that story: Crypto billionaire Sam Bankman-Fried’s downfall could deprive Democrats of key donor.
We used to see similar media malpractice–until bloggers and conservative journalists repeatedly called the MSM out on it–with the phrase “mass shooting” only being used when the evil perpetrator was a white male.
You know who else is almost never called a megadonor by the media?
George Soros.
Media bias is like the Hydra, a beast from Greek mythology. There are so many heads that need to be sliced off.

John Ruberry regularly blogs at Marathon Pundit.
Update: Welcome HOTAIR Headline readers John is one of our original magnificent seven writers. He writes here every Sunday.