5 ms·
4 months!? The sentencing of white collar crimes in the U.S. juxtaposed to drug offenses and crimes of desperation should make us all question the legitimacy of
by jtdev 7y ago
4 months!? The sentencing of white collar crimes in the U.S. juxtaposed to drug offenses and crimes of desperation should make us all question the legitimacy of our legal system.
- ryanlol 7y agoOTOH insider trading while "unfair" doesn't necessarily hurt anyone. (not that the crimes you mentioned necessarily hurt anyone either)
- pessimizer 7y agoOnly if nobody bought that stock.
- ryanlol 7y agoThey wanted that stock for a specific price, they didn't lose anything.
- philshem 7y ago...based on the available market information.
- ryanlol 7y agoYes, and the insider traders added more information to the market.
- tanderson92 7y agoThey had a duty to shareholders which they broke when they abused their position of trust within the company to hurt those shareholders by stealing information from the company and using it for personal gain.
- ryanlol 7y agoHow exactly did his actions hurt the shareholders?
- z3c0 7y agoThe problem here is the disproportionate amount of "disincentive" occurring - in this case Ying is basically making around $500k to spend 4 months in prison. If somebody pitched that idea to me on its own, I'd at least put some thought into it. Drug offenders often get punished so disproportionately for their crime that they're unable to take advantage of systems that would help them improve their lives after their multi-year prison sentences (jobs, college, travel, etc.) They certainly aren't going to have a few hundred thousand dollars waiting for them when they got out. This is clearly anecdotal, but a family member of mine - who was imprisoned for 4 years in work camps over a drug offense - was given $35 and a "good luck". Edit: By the way, his career was ruined the moment he became accountable for one of the worst data breaches in history - this conviction isn't what ruined his career as a CIO.
- ryanlol 7y agoSure, the punishments are disproportionate. I think everyone knows this. I still don't think 4 months for insider trading is inappropriate, in most of the EU you'd probably not go to prison at all. Sentences for drug offenses are insane, that doesn't mean sentences for victimless insider trading should be too. Why make things worse when you could make them better?
- z3c0 7y agoI'm not necessarily advocating for harsher sentencing anywhere, but there definitely needs to be an attempt to balance the scales. And if we don't keep pointing out this clear disparity, we can expect nothing to change. That's solely the motive of my comment.
- Zombieball 7y agoThe impact of this charge is much greater than $500k. How much in fees did he pay lawyers to get the plea deal? What are the chances he will get hired as a CIO again? This has significantly long-lasting impact on his life and career.
- 4ntonius8lock 7y ago
- puranjay 7y agoYou have to ask who exactly gets hurt if some guy sells a few grams of weed to some bored college kid.
- ryanlol 7y agoNobody? Sentencing for drug related offenses is fucked, everyone knows this.
- rolltiide 7y agoGet charged with larceny and see what happens Go over $500 and get charged with grand larceny and see what happens As Nancy Botwin said on Weeds “maybe your people need to steal bigger” Since it wont be called stealing if its big enough
- nojvek 7y agoWell, how many non-white people do you see in Congress and important seat positions. The bias is very real.