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His crimes are closer to those of Bernie Madoff than, say, Jamie Dimon. Madoff was sentenced to 150 years.
by charonn0 3y ago
His crimes are closer to those of Bernie Madoff than, say, Jamie Dimon. Madoff was sentenced to 150 years.
- viraptor 3y agoThat one's silly too. Unless someone is so damaged they're not capable of ever not harming others, (think psychopathic murderers) what's the point of sentences that long? Anything past 15 years or so effectively destroys their existing lives anyway. I think that crosses from punishment to unnecessary cruelty and stuffing prisons.
- JojoFatsani 3y agoIf you destroy other people’s lives why should yours be intact?
- viraptor 3y agoHow did you get from "15 years already destroys their current lives" to "intact"?
- rKarpinski 3y agoYes prisons, notorious for being over populated with those who ruined the lives of hundreds of people through multi billion dollar financial crimes.
- woooooo 3y agoThat's the point, uniquely unsympathetic people get sentences that are about making us feel good for handing them out. Add in Madoff's victims being rich and connected and you get 150 years.
- gamblor956 3y agoMost of Madoff's victims were middle-class. Very few were rich. None were connected. He was still getting away with the scam for years after the allegations started spreading.
- viraptor 3y agoThere are no prisons dedicated explicitly to those people, so I'm not sure what are you talking about here.
- justinclift 3y agoThey were being sarcastic. ;)
- JumpCrisscross 3y ago> what's the point of sentences that long? Deterrence and retribution. On incapacitation, however, can you really not see Bankman-Fried leaving prison in his forties and doing anything but running out to raise new capital? His position throughout the trial seemed to genuinely convey that he didn’t think he did wrong.
- viraptor 3y ago> can you really not see Bankman-Fried leaving prison in his forties and doing anything but running out to raise new capital? Maybe. How about we try though and monitor his activity from time to time. There are other cases where person's ability to work with something is restricted for a limited time. Otherwise, you can apply "can you not see X leaving prison and doing what they were jailed for" to everyone forever. Over a decade in jail is a long time to change your views. There's that whole thing about rehabilitation as well as punishment in the idea of prisons.
- gafferongames 3y ago> what's the point of sentences that long? Because FUCK this guy.
- s1artibartfast 3y agoMy understanding is that sbf's investors might even come out ahead. Sure that would be a consideration
- tptacek 3y agoIt is not.
- TillE 3y agoSentencing takes so long because the judge is allowed to consider basically anything, and there's a whole data-gathering process to facilitate this. It's just not likely to be a major factor.
- tptacek 3y agoRight, it's like an entire second trial. But the guidelines give a pretty strong indication where the sentence is going to land. Either way: the nominal losses are what is most likely to control; in particular, if you steal a bunch of money, bet it all at the track, and make enough to pay back your victims, you're not getting credit.
- wmf 3y agoFTX customers will get fairly little; maybe 20-30%. Investors will probably get nothing.
- sidewndr46 3y agoAt the current rate the lawyers are burning cash while handling FTX's bankruptcy, it seems like the customers of FTX may owe them money.