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Sam Bankman-Fried sentenced to 25 years in prison

cnn.com

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Re: Sam Bankman-Fried sentenced to 25 years in prison

#881

Post by rmbyrro »

A_D_E_P_T wrote: post #159

To put this into its proper perspective, see table 7 here: https://www.ussc.gov/sites/default/files/pdf/research-and-pu... In 2022, the average murderer in the Federal Southern District of New York (N = 58) was sentenced to a median of 231 months, which comes out to 19 years and change. No crime of any type had an mean or median sentence higher than 25 years; most were far less than half. So it should be really hard…

Have you considered how many people committed suicide because of SBF? Or how many people won't be able to pay for medical care, will suffer, and eventually die?

It's impossible to knoe the number, but it's arguably non-zero.

He should have gotten the 40 years prosecution was asking.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#882

Post by 747-8F »

FabHK wrote: post #276
setgree wrote: post #176

An uncle once commented about a cousin of ours that he demonstrated how it's possible to screw things up so badly that you can't possibly recover. I think that's true for Sam. I hope it's not true for the people in his orbit; I hope they can get out from under this and try to find meaning, ideally from repairing the harm they've done. As Rick Heicklen writes, "We are not ever going to be Sam. But we could be Caroline…

FWIW, I didn't find Lewis's book as bad (or amoral) as it's often made out to be. Yes, he didn't put his judgement in every paragraph, but his description of SBF was: a) absolutely damning! SBF's lack of empathy, his notion that (given that everyone else is stupid) he knew best and should basically ignore the advice of everyone else (particularly his elders), his naive utilitarianism without any deontological/virtue…

Thank you very much for using 'deontological'. I learned a very useful word today

Re: Sam Bankman-Fried sentenced to 25 years in prison

#883

Post by henry2023 »

cush wrote: post #857
AI_beffr wrote: post #768

prison is such an interesting concept. violent people need to be physically separated for the safety of the population. but for a crime like this maybe it would be better to just give him 5-10 years in prison but never let him deal in finance again. i would rather have him on a road crew tying re-bar than using up tax payer money in prison...

Or turn him white-hat and have SBF work for the SEC, using his skills to find other fraudsters

You’re assuming he has skills. He had connections that’s all. You can tell by every single action he took during his trial

Re: Sam Bankman-Fried sentenced to 25 years in prison

#885

Post by imadierich »

setgree wrote: post #176

An uncle once commented about a cousin of ours that he demonstrated how it's possible to screw things up so badly that you can't possibly recover. I think that's true for Sam. I hope it's not true for the people in his orbit; I hope they can get out from under this and try to find meaning, ideally from repairing the harm they've done. As Rick Heicklen writes, "We are not ever going to be Sam. But we could be Caroline…

[dead]

Re: Sam Bankman-Fried sentenced to 25 years in prison

#887

Post by tomcar288 »

datavirtue wrote: post #745
jmyeet wrote: post #694

Earlier quoted context omitted.

Sorry for your loss. I'm actually surprised the sentence is this low. This is Bernie Madoff territory. This doesn't get you your money back. It doesn't even necessarily make you feel better so what's the point? This gets into the philosophy of a criminal justice system. The noble idea behind the criminal justice system is to be restorative . The offender is to be reformed so they don't repeat their crimes and can bec…

The point of the system is to remove threats from society. It should be long enough such that the person will never pose a threat to society again. Justice was served in this case.

i don't why this is downvoted. it seems pretty logical to me. if someone commits a crime and then goes to jail, they can't commit the crime again, right?

Re: Sam Bankman-Fried sentenced to 25 years in prison

#888

Post by KennyBlanken »

dinobones wrote: post #789
setgree wrote: post #176

An uncle once commented about a cousin of ours that he demonstrated how it's possible to screw things up so badly that you can't possibly recover. I think that's true for Sam. I hope it's not true for the people in his orbit; I hope they can get out from under this and try to find meaning, ideally from repairing the harm they've done. As Rick Heicklen writes, "We are not ever going to be Sam. But we could be Caroline…

You think a 25 year sentence is impossible to recover from? I think he can still leave a meaningful life coming out in his mid 50s.

Imagine going into prison in the late 90's and coming out all the technology in the world today, none of which you've seen except maybe on TV.

The Dick Tracey movie came out in 1990 and now we've got smart watches which are literally a cell phone on your wrist.

Imagine going into jail when AIM/MSN/ICQ were the hotness and coming out to tiktok and snapchat.

That's someone who went into jail in the 90's. Imagine someone who went into jail in the early 80's or 70's. Coming out to the modern world would be like time traveling.

A lot of inmates coming out of multi-decade imprisonment are completely overwhelmed by how far society has advanced.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#889

Post by KennyBlanken »

tim333 wrote: post #811
goalonetwo wrote: post #690

Earlier quoted context omitted.

As someone who lost a little bit through this whole debacle I think it is because we willingly gave our money to FTX. We wanted to believe in this story that was too good to be true. We got fooled and we are slightly ashamed. When you get mugged you have no choice on what is happening. The actions are being forced physically on you. With FTX We chose to go that way so it somehow feels like we are as much to blame as…

I deposited some money with FTX and expected them not to steal it in the same way you expect a bank not to steal your deposits. I didn't gift to them or expect anything too good to be true. If a bank manager steals customer deposits to pay his gambling debts I put the blame 100% on the manager 0% on the customers.

Why on earth would you "expect them not to steal it in the same way you expect a bank not to steal your deposits" when a cryptocurrency exchange / hedge fund is not subject to even a fraction of the regulations banks are?

Especially when prior to FTX's collapse, numerous other crypto exchanges were turning out to be scams or going under, and even back then there was plenty of evidence that crypto was being used and manipulated by nation-states and criminal organizations? And it was practically a meme that crypto was full of shysters and scams?

Comparing putting your money into a too-good-to-be-true crypto hedge fund is nothing like "a bank manager stealing money to pay off his gambling debts." I won't name a culpability breakdown but there is no way you have 0% responsibility here.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#890

Post by setgree »

FabHK wrote: post #276
setgree wrote: post #176

An uncle once commented about a cousin of ours that he demonstrated how it's possible to screw things up so badly that you can't possibly recover. I think that's true for Sam. I hope it's not true for the people in his orbit; I hope they can get out from under this and try to find meaning, ideally from repairing the harm they've done. As Rick Heicklen writes, "We are not ever going to be Sam. But we could be Caroline…

FWIW, I didn't find Lewis's book as bad (or amoral) as it's often made out to be. Yes, he didn't put his judgement in every paragraph, but his description of SBF was: a) absolutely damning! SBF's lack of empathy, his notion that (given that everyone else is stupid) he knew best and should basically ignore the advice of everyone else (particularly his elders), his naive utilitarianism without any deontological/virtue…

A recent HN thread led me to this article of his which I found delightful: https://www.nytimes.com/2001/02/25/magazine/jonathan-lebed-s...
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