I’ve seen people argue that @GaryGensler will approve $ETH ETFs because he doesn’t want to get sued. When has anyone in the government ever cared about getting sued?
There are no real repercussions for it. Taxpayer money is used for their defense, and there are no individual civil or criminal penalties if they lose. Perhaps a tiny bit of reputation damage, but that’s nothing.
If anything, the agency may use it as an excuse to grow their people and budget further to defend against lawsuits.
I’d put the odds in favor of Gary denying it. Most people in government don’t care about the law, because they can break it without repercussions, but especially not Gary.
bitcoinrothbard / Bitcoin Rothbard
npub12x…c0s2g
2024-03-11 02:21:45
Author Public Key
npub12xycvg8gahx3reqnj0fy052k3445wds6u4k66v2awnx7sgj7pl5s9c0s2gPublished at
2024-03-11 02:21:45Event JSON
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"content": "I’ve seen people argue that @GaryGensler will approve $ETH ETFs because he doesn’t want to get sued. When has anyone in the government ever cared about getting sued? \n\nThere are no real repercussions for it. Taxpayer money is used for their defense, and there are no individual civil or criminal penalties if they lose. Perhaps a tiny bit of reputation damage, but that’s nothing. \n\nIf anything, the agency may use it as an excuse to grow their people and budget further to defend against lawsuits. \n\nI’d put the odds in favor of Gary denying it. Most people in government don’t care about the law, because they can break it without repercussions, but especially not Gary.",
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