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I don't really doubt that he's right about this, but doesn't he have a pretty big incentive to play up how bad the mess is? If he successfully unwinds it then he looks like a genius. If he can't do it, we can't blame him, because it was worse than anything anybody had ever seen.

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This guys has been cleanup CEO a bunch of times, including the former biggest US bankruptcy ever. He doesn't need to worry about improving his reputation.

Plus, it's easy to compare his filings here with his filings in previous cases and reasonably conclude that FTX is just much, much worse.

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