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Sam Bankman-Fried sentenced to 25 years in prison

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

#921

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.

News reports say that he might serve as little as 12.5 years.

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

#922

Earlier quoted context omitted.

I think humans also feel no anger towards deadly diseases. Maybe it is more comparable to that. However, I do know that people can feel very ashamed from scams like phishing attacks and caller scams.

After thinking about it, I think some humans do feel anger towards deadly diseases. If not anger, certainly fear. My aunt died of cancer, and most of our family was pretty mad at "cancer." I remember seeing a Twitter thing going around that was basically a lot of people tweeting things like "fuck cancer" and encouraging others to donate to the cause. Maybe that's not really "anger," but it kind of feels and seems lik…

I lost my dad to cancer. I was very much furious with cancer while being well aware of the irrationality of feeling that way. Still am, and it's been a few years. It's easy to be furious at cancer, and the pure random destructive wastefulness of it.

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

#923
post #583

I can't believe how many people here are defending him to be honest

HN walks the fine line between "entrepreneurship" and crime (whatever they can get away with), so no surprise, really

as an example: https://news.ycombinator.com/item?id=39860385

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

#924
post #627
post #592

Earlier quoted context omitted.

It's a bit of a different scale/topic, but I found the discourse here quite insightful. It talks about the method "Restorative Justice" by going through a concrete example where this was lacking. Really heartwarming to listen to. https://hiddenbrain.org/podcast/how-to-make-amends/

"Restorative Justice" is more bullying from authorities and taking time from the victim. From your link: "Victims may help decide on the punishment for the person who harm them. They often get answers and an apology. Offenders might receive reduced sentences." -- how about increased sentences because of how the victim feels? No, it's all about going easier on offenders. All the authorities involved are pushing victim…

Restorative Justice means different things in different [US] states and counties, for different types of crime, it depends on whether the state's attitude to felony convictions and expungement is medieval or not (like in FL, KY), and the wide discretion prosecutors have to charge/plead something as a felony, misdemeanor or not to charge at all, plus the discretion police have on what to arrest for. And especially, it depends on the DA, who is an elected official:

* That HiddenBrain story was about a VA conviction for felony grand larceny for stealing a bike whose value exceeded the grand larceny threshold ($1000). In that case the victim (an English guy who supported the UK equivalent) emphatically did consent to restorative justice approach and expected a non-custodial conviction could be quickly expunged, but the VA system doesn't work that way. So all his intervention effectively did was spare jail time to the thief, but not all the other consequences.

* Compare to the 2021 Oakland, CA gang-related freeway shooting death of 23mo toddler Jasper Wu [0] in a rolling gunbattle between two rival gangs (one of them using an AR-15) on highway I-880 at 2:07pm in the afternoon, Wu was hit in the head by a stray 7.62mm rifle bullet in the rear of his mother's car. Three accused were charged with murder (one since had charges dropped), but then 4/2023 [1], new incoming DA Pamela Price, in the name of restorative justice, wrote an internal memo of her intention to "bring balance back to sentencing and reduce recidivism"- by not allowing prosecutors to "file or require defendants plead to sentencing enhancements." Not adding the special circumstances charge would drastically reduce any likely sentences, and exclude a life sentence (Price points out that she did add the gang-enhancer, but not the special circumstances charge) [3]. The victim's family were not consulted before Price's decision, and objected. [2] Price sent a series of emails to members of the Asian American community and county supervisors. In one, she claims "certain vocal members of the local Chinese community and media including reporter Dion Lim... misled the public." In another email one week later, Price addresses "Chinese communities" calling many "misinformed" and blamed [them] for "spreading misinformation."

The matter is pretty politically divisive in the East Bay [3]. DA Price refuses to budge on this and there is currently in 2024 a major recall effort against her [4].

These two cases are pretty much the opposite end of the spectrum to each other. They also show how politicized the actions of an elected DA can be, depending on the mood of the electorate that put them in office. They also show that DAs can completely disregard the victim's/family's wishes.

[0]: ABC7News 12/2022: Jasper Wu case timeline: A 13-month investigation into Oakland freeway shooting death of toddler https://abc7news.com/jasper-wu-oakland-freeway-shooting-todd...

[1]: 3/2023 Jasper Wu's family voices concerns over murder suspects' possible shorter sentences https://abc7news.com/jasper-wu-alameda-county-district-attor...

[2]: 4/2023 After meeting with DA Price, Jasper Wu's family is still worried they won't get 'justice' https://abc7news.com/alameda-county-district-attorney-pamela...

[3]: 6/2023 Jasper Wu case: murder suspects appear in court, charges reduced in toddler's slaying https://www.ktvu.com/news/jasper-wu-case-murder-suspects-app...

[4[: Alameda County DA Pamela Price https://en.wikipedia.org/wiki/Pamela_Price

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

#925

Earlier quoted context omitted.

He'll do about 30% or less. Maybe they'll say jails are full again and release most the inmates like they did during covid.

These are federal charges, not state. In the federal prison system, you do almost all your time, with just a small percentage knocked off the end of your sentence if you maintain consistent good behavior. State justice systems do have a tendency to let prisoners out early for various different reasons but when you get a federal sentence, you're serving almost all of it.

Things actually changed in 2018 with some implementation details of https://en.wikipedia.org/wiki/First_Step_Act. Parole is not given, true; but you can earn a bunch of credit days for participating in non-recidivism activities, which - when combined with good behavior - can amount to leaving prison 30-40% early. Not sure about the details after (house arrest or halfway-house may be somewhere in that mix), but not as grim at that point.

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

#926
post #819

Sam is a crook, no doubt, but even now I find him a funny figure. His trial defence was awful. He sincerely believes he was trying to do the right thing, so spent his time on the stand defending his actions at length, instead of keeping his mouth shut except to express contrition. This probably cost him years of freedom. It's strange to say but there's an... authenticity to this that I find endearing.

There are the stories he tells about himself, his intentions, and his beliefs. Then, there are the cold hard facts.

Even if you wanted to believe his statements, they do not align at all with his actions.

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

#928

It's funny. I lost tens of thousands of dollars thanks to this individual, yet his sentence brings me no joy or arouses any emotion at all. I'm utterly indifferent to his fate for some reason and I don't know why. Yet if he had been a mugger who stole a much smaller amount of money from me on the street, I think I would've been far more vengeful. Should I feel vindictive? Or is it healthy to forget about it and move…

If you get mugged, you feel it was outside your control. If you get scammed, you feel it was partly your fault that you were fooled.

After a new-years eve terrorist attack in Europe a few years ago, a former colleague (who was in a different country) told me she “would now never go to a public space for a new year celebration”. But she drove a car to and from work every week day. We over estimate the risk of things we have no control over, but as soon as we have even a little bit of control, we underestimate the risk.

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

#929

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...

Prison is also a deterrent for future offenders, if everyone is knows/feels all they will loose is their license to practice finance then you will have lot more financial crime than there is.

Is there any evidence this actually works? My understanding was that "prison as a deterrence" was largely ineffective.

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

#930
post #276

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…

>And, btw, you might well have turned out the same way under similar circumstances, but for the grace of god.

that criteria is applicable to literally any criminal, ever. It's effectively useless as a statement about crime and punishment, although it serves as a useful reminder to those not condemned.

>2) SBF has severe moral deficiencies and belongs in prison for a long time, but not because he is "evil".

moral standpoint doesn't put you in shackles, poor judgement when comparing your morality with that of society is what does that.

finance is one of the most amoral industries to ever exist. They sit next to weapons and land-mine manufacturers, as far as i'm concerned.

Amorality is a benefit to the financier, the trick is finding someone that is amorale while also retaining a powerful enough understanding of the law and governing society that they can get away with enacting their deviousness without fear of prosecution.

SBFs morality doesn't matter -- what broke him was his poor judgement and overzealous confidence. We're not condemning him for his morality, that just speaks better to the court; he's in trouble because his plans backfired and money was lost for important people.

(p.s. we don't imprison people for being 'amorale', whatever that might mean from whoever is saying it.)

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