Earlier quoted context omitted.
It is long enough to destroy his life. What matters if he gets out at 70 or 80 if he gets out at 60?
He gets out at 51. Somewhere around there with 25 year sentence at 31 with credit for time served.
how, he is 32?
Sam Bankman-Fried sentenced to 25 years in prison
131–140 of 1001 posts
Re: Sam Bankman-Fried sentenced to 25 years in prison
#132Re: Sam Bankman-Fried sentenced to 25 years in prison
#133Re: Sam Bankman-Fried sentenced to 25 years in prison
#134Earlier quoted context omitted.
You think so? 25 years seems quite reasonable to me. He stole billions of dollars.
The victims are going to get paid back (in 2022 crypto prices) due to the appreciation of FTX’s assets (crypto and Anthropic shares). So if someone lost a bitcoin when FTX collapsed (BTC was at $18k at the time) they will get more than $18k but not $70k which is today’s price.
If I had 1 Bitcoin in an FTX wallet, I'd like to have 1 Bitcoin back. Not whatever the value of Bitcoins is in Dollars.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#135Earlier quoted context omitted.
If someone isn't a violent threat to society, there isn't much social benefit to keeping folks locked up longer then 20-ish years. 20-25 (assuming he gets the 15% off for good behavior the feds allow) is plenty.
I have to ask: does 20 years provide more social benefit than 10? 5? Surely there's diminishing returns on imprisonment. As a deterrent and as a punitive, I get it, but even life sentences don't seem to deter crimes that can yield those punishments.
Is it a deterrent? SBF knew Madoff got 150 years.
The perceived benefit of getting rich and famous can make it easy to overlook the downsides of getting caught.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#136For those wondering, prosecutors asked for 50 years in prison, defense asked for 5 years. So this sentence is right down the middle. 50 years in prison would have been way too long IMO.
Well, 27.5 would be right down the middle. As others have suggested, likely he won't even serve the 25 though.
If you use the made up averaging scheme of ((5^p+50^p)/2^p)^(1/p), 25 is the limit as p -> inf (i think).
...Because it just simplifies to 50/2 lol.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#137Earlier quoted context omitted.
It is long enough to destroy his life. What matters if he gets out at 70 or 80 if he gets out at 60?
> It is long enough to destroy his life. Hardly. Milken was sentenced to 10 and served 2. SBF will serve 7, at which point he'll still be under 40.
The federal system doesn't have parole, and gives a maximum of 15% off for good behaviour.
He won't be out for ~two decades.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#138Quite a short sentence for the magnitude of the crime. Financial crimes like these do kill people and destroy countless lives. They deserve maximum pentalties.
What is the goal of the punishment? If it is to harm him and make the rest of the world satisfied with it 25 years behind bars seems enough to me, I don’t care if it is 25, 35 or 155. In five years I will have forgotten about this. If it is stopping others, same thing, I don’t think that if someone is determined to do something similar would care about 25 or more years.
It’s to stop him first - he won’t be running financial fraud schemes for 20-25 years
Then it’s to stop other bright minds from attempting anything like this - they’ll remember SBF. His crime has a price now: 20-25 years
Re: Sam Bankman-Fried sentenced to 25 years in prison
#139Earlier quoted context omitted.
If someone isn't a violent threat to society, there isn't much social benefit to keeping folks locked up longer then 20-ish years. 20-25 (assuming he gets the 15% off for good behavior the feds allow) is plenty.
I have to ask: does 20 years provide more social benefit than 10? 5? Surely there's diminishing returns on imprisonment. As a deterrent and as a punitive, I get it, but even life sentences don't seem to deter crimes that can yield those punishments.
I've always been in favor of the Norway sentencing model [0]. 21 years is the max prison sentence, with 5 year extensions possible. Punishment must always carry the possibility of rehabilitation and return to society, even in the most extreme cases. A small amount of people will show no remorse or willingness to improve and will remain in prison for life.
[0] https://en.wikipedia.org/wiki/Life_imprisonment_in_Norway
Re: Sam Bankman-Fried sentenced to 25 years in prison
#140Earlier quoted context omitted.
It is long enough to destroy his life. What matters if he gets out at 70 or 80 if he gets out at 60?
That is a big difference. You can live a pretty good 15 or so years if you get out at 60. Considering that his parents are well off he will inherit some.
Almost anyone who is deterred from committing the crime if they get 50 years will also be deterred from committing the crime if they get 25 years.