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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

#731

Post by damontal »

ct0 wrote: post #579
throwawayyyyy10 wrote: post #568

Many of the comments here about the utility of punishment is very utilitarian, which is ironically fitting since we're talking of SBF. What I never see acknowledged (or believed) by more lenient people is the fact that adequate punishment (sometimes harsh is adequate) serves to send a message not only to other offenders, but maybe most importantly to non-offenders, that the justice system is worth something. "Crime d…

Great opportunity to remind everyone to think of Ross today. https://freeross.org/ He just tuned 40 yesterday.

Didn’t he try to order hits?

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

#732

Post by virissimo »

SketchySeaBeast wrote: post #720
slibhb wrote: post #718

I don't understand why we need to put this guy in jail for 25 years. Similarly, Bernie Madoff, whose crimes were far worse, was sentenced to 150 years. For stealing money! Given that the risk of repeat offense is low, I just don't see the point of these sentences. I think they're mostly about notoriety. Meanwhile murderers and rapists get less time, and they're at high risk for re-offending.

> Given that the risk of repeat offense is low, I just don't see the point of these sentences. Is it? Did he even admit to criminal wrong doing? The article thinks otherwise: > Judge Lewis Kaplan, just before announcing Bankman-Fried's 25-year sentence, said there was a risk "that this man will be in a position to do something very bad in the future, and it's not a trivial risk." > Bankman-Fried acknowledged his mist…

His likelihood of re-offending is low because he now has a near universally bad reputation and so is much less likely to be trusted with other people's money in the first place.

Whether that means he should have a shorter sentence depends on the purpose of criminal sentences. If the purpose is punishment or deterrence, re-offense probability isn't as relevant, but if it is merely to protect others while he is put away, it is the most relevant consideration.

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

#733

Post by [deleted] »

freedomben wrote: post #520
__loam wrote: post #509

Earlier quoted context omitted.

I didn't lose a penny and I'm giddy about it. Justice has been done.

> I didn't lose a penny and I'm giddy about it. Justice has been done. How can you be giddy about a human being locked in a cage for 25 years? Would you be giddy if he were being flogged, or hanged? As long as there has been recording, flogging and hangings were common punishments and usually defended as "justice has been done." Incarceration really isn't far from medieval punishments. I'm by no means suggesting that…

[deleted]

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

#734

Post by [deleted] »

slibhb wrote: post #718

I don't understand why we need to put this guy in jail for 25 years. Similarly, Bernie Madoff, whose crimes were far worse, was sentenced to 150 years. For stealing money! Given that the risk of repeat offense is low, I just don't see the point of these sentences. I think they're mostly about notoriety. Meanwhile murderers and rapists get less time, and they're at high risk for re-offending.

[deleted]

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

#735

Post by SnorkelTan »

gizajob wrote: post #461
AlexCoventry wrote: post #447

Earlier quoted context omitted.

I think there's a good chance his tendencies to arrogance and mendacity will get him killed in prison.

Maybe not killed but pummelled on the regular. He might be cut out for crypto fraud but he’s definitely not going to be cut out for such a long stretch in a “survival of the fittest” environment. Any skills he has are worse than useless inside.

Nonviolent offenders don’t rub elbows with convicted murderers. It’s still prison time but I doubt his life will be in jeopardy. None of the people in that security level would risk the privileges.

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

#736

Post by laurels-marts »

ragazzina wrote: post #474
publius_0xf3 wrote: post #449

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…

It is funny - especially when you consider a mugger on the street would need your money much more than SBF ever would.

Need money for what though. Alcohol, drugs and gambling? The vast majority of crimes are not committed due to an inability to obtain food.

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

#737

Post by lwood42 »

slibhb wrote: post #718

I don't understand why we need to put this guy in jail for 25 years. Similarly, Bernie Madoff, whose crimes were far worse, was sentenced to 150 years. For stealing money! Given that the risk of repeat offense is low, I just don't see the point of these sentences. I think they're mostly about notoriety. Meanwhile murderers and rapists get less time, and they're at high risk for re-offending.

It acts as a serious deterrent - if he got a slap on the wrist then it shows that any aspiring crypto scammer can steal millions of dollars and live the high life. You could also argue that the number of people affected by his crimes is orders of magnitude greater than the those affected by the majority of crimes, and would therefore justify such a much greater sentence.

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

#738

Post by slibhb »

bjt wrote: post #730
slibhb wrote: post #718

I don't understand why we need to put this guy in jail for 25 years. Similarly, Bernie Madoff, whose crimes were far worse, was sentenced to 150 years. For stealing money! Given that the risk of repeat offense is low, I just don't see the point of these sentences. I think they're mostly about notoriety. Meanwhile murderers and rapists get less time, and they're at high risk for re-offending.

It's about deterrence. Imagine you're considering committing a crime. You're looking at the upside and the downside. The equation on the downside looks like this: risk = size of punishment * probability of being caught. So how do you deter a potential criminal who is unlikely to get caught? You have to jack up the size of the punishment to compensate for that low probability. Economist Gary Becker started this school…

In other words he's not being punished for what he did; he's being punished to dissuade others from copying him. I think people should be punished for their actions and not to increase utility of society.

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

#739

Post by selfmodruntime »

damontal wrote: post #731
ct0 wrote: post #579

Earlier quoted context omitted.

Great opportunity to remind everyone to think of Ross today. https://freeross.org/ He just tuned 40 yesterday.

Didn’t he try to order hits?

Yes. Ulbrecht deserves his sentence.

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

#740

Post by theragra »

dns_snek wrote: post #416
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…

Statistical value of a human life in the US is around $7.5 million. Stealing $10 billion is therefore statistically equivalent to killing 1300 people, or pretty close to half of 9/11. That seems like a pretty light sentence to me.

Yet in 2008 crisis nobody was sentenced for more then 15 years
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