Episode 98

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Published on:

16th Dec 2022

SBF, CPI, PPI, UFC and PJs - We've Got All the Acronyms

The FTX drama continues. The crypto business' founder, Sam Bankman-Fried, has been arrested by Bahamian authorities after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the one time crypto billionaire at the heart of the cryptocurrency exchange’s collapse. His arrest is being called the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month.

In today's episode of The Higher Standard, Chris and Saied dig into this news, and speculate as to whether or not this move could signal the beginning of regulation for the crypto space.


They discuss the possible upcoming pivots for the Fed in it's ongoing battle against inflation. Will they raise rates again? Will they hold? For how long?


Chris and Saied look at Meta's $3 billion plan to decrease its office footprint, which includes unloading up to 544,000 square feet of offices in the Bay Area.⁠


They also discuss a New York Federal Reserve survey indicating that consumers grew more optimistic about inflation in November amid expectations that both food and energy price increases would be less severe in the coming year.


Join Chris and Saied for this eye-opening conversation.


Enjoy!


What You’ll Learn in this Show:

  • The arrest of former FTX CEO Sam Bankman-Fried and what that means for the future cryptocurrency.
  • Cross-collateralized cross-default loans - what they are, and why you should care.
  • Why Redfin predicts that 2023 will bring the slowest housing market in a dozen years.
  • Why affordability in the real estate space is going to continue to be an issue in the years to come.
  • And so much more...


Resources:

"FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges" (article from CNBC)

"November PPI a bit hotter than expected" (article from Reuters)

"Housing market to sink to a 12-year low in 2023, Redfin says" (TheRealDeal via Instagram)

"Lennar offers to sell 5000 homes to big landlords" (TheRealDeal via Instagram)

"Economists like Nouriel Roubini are starting to fret about a US debt crisis as interest rates rise – here's why it's the latest issue rattling markets" (article from Markets Insider)

"Total Household Debt Reaches $16.51 trillion in Q3 2022; Mortgage and Auto Loan Originations Decline" (press release from the Federal Reserve Bank of New York)

"Top economist Mohamed El-Erian says the Fed will face these two ‘unpleasant choices’ next year" (article from Fortune)

"Meta to ditch up to 544K sf of office space in Bay Area" (TheRealDeal via Instagram)

"Consumers see inflation easing considerably in the next year, New York Fed survey shows" (article from CNBC)

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

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Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.