I’d be in favour of amending the law to expand to cover fraud and corruption. Those are crimes that corrode social trust in a way that is analogous to challenging the state’s monopoly on violence. (And is separate from e.g. theft.)
IMO 10 years in prison should be more than enough to discourage SBF from repeating it. And if it is not enough, then 30 years won't be enough either...
> then 30 years won't be enough either
But it's not about deterring him. It's about preventing him from doing any more damage to the society and potentially deterring other people from committing the same crime. IMHO this is one sector where draconian sentences might be actually very effective, people in finance tend to be more rational and calculating than average. If you get a to steal a few billion and maybe somehow stash a proportion of that spending 5 years in prison might seem like a reasonable deal, that's pushing it but maybe even 10, not > 30 though.
That is a strawman.
Besides (potentially) rehabilitation, prison serves to protect the populace from dangerous people who would harm others and as a deterrent to others who can see what punishment they might get if they do something illegal.
I am not claiming prison does a good job of these things, just that its goal is not to "ruin people's lives".
It is not like he will be getting away with a slap on the wrist one way or another. I just don't see more years in prison past some reasonable threshold as a good deterrent.
> I am not claiming prison does a good job of these things, just that its goal is not to "ruin people's lives".
The purpose of a system is what it does.
Otherwise, I agree.
Sure. And many murders remain unsolved. We treat murder differently from other crimes that result in human death in part due to instinct, but in part because when we don’t it becomes a political tool.
it's like saying Trump could pardon him on the way in -- and might
That is more likely than a Biden pardon: Trump in his first term was big on pardoning both financial criminals and people involved in political corruption on both sides of the aisle, and SBF is both a financial criminal and someone involved in political corruption (on both sides of the aisle, even), so he is something of an ideal Trump pardon candidate.
Since SBF publicly despised Trump, donated vast sum to his opponents, and tried to architect Trump not being president I'd say that's less likely.
https://www.businessinsider.com/sbf-wanted-tom-brady-to-run-...
>Bankman-Fried’s largest donations were $27 million to his own super PAC, which supported Democratic candidates, and $6 million to a PAC that helps elect Democrats to the U.S. House. Bankman-Fried also gave the maximum $5,800 each to support dozens of candidates, mostly Democrats.
>President Joe Biden’s 2020 run for president was one of the major beneficiaries of Bankman-Fried’s donations. Bankman-Fried gave $5 million to a PAC that supported President Joe Biden’s 2020 campaign, $50,000 to Biden Victory Fund, and $2,800 directly to Biden for President.
1. https://www.usatoday.com/story/news/politics/2022/12/16/ftx-...
From the article:
> There is no possibility of parole in federal criminal cases, but Bankman-Fried can still shave time off his 25-year sentence with good behavior.
> "SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.
> Federal prisoners generally can earn up to 54 days of time credit a year for good behavior, which could result in an approximately 15% reduction.
> Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act.