Brett Harrison: belief

Transcript context

…Did the physical proximity between the offices and of course, the fact that the leaders were living together, was that something you inquired about or were concerned with? I never visited the places where they lived in that Albany section of the Bahamas, so I think I didn't fully grasp the extent to which they were all living in this particular arrangement. But I understood that as long as Sam was going to be the 90% owner or something of Alameda, he would want oversight there. And so having them close by made sense. But the actual hut set up was such that they had like, physical separation from minute to minute. So it wasn't like Alameda could overhear stuff happening on the exchange or people in the exchange could overhear stuff that was happening at Alameda. So to some extent they felt like, well, at least they're going through the right motions of setting up, like, physical separate buildings. Also, this is not uncommon within trading firms and investment banks. Right. Like, if you imagine there needs to be wall separation between buy side and sell side at different institutions. And the way they do that is they put them on different floors in the same building. Right. And sure, they can meet each other for lunch in the lobby, but they set up some actual physical separation. This is like super par for the course when it comes to financial firms that have these businesses that need to be walled off from each other. And so that didn't seem like particularly strange thing to me at all. Is there anything that, in retrospect, seems to you like a yellow flag or a red flag, even if at the time it's something that might make sense? In the grand scheme of things, the.…

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