Hacker News new | ask | show | jobs
by MadnessASAP 813 days ago
That is certainly correct for "street crime" where premeditation and risk reward analysis aren't a part of the equation.

I have some pretty serious doubts about it when it comes to large financial crimes where both those things are absolutely part of the process. A death sentence probably isn't going to stop someone from killing another person, they're already off the deep end of irrationality. However 25 years of prison is probably going to be a significant deterrent to someone choosing to commit billions worth of fraud, maybe the profit margin isn't that important.

2 comments

We ALL know/knew who Bernie Madoff was and what happened to him. Are you sure your logic is sound here?
Yeah, I really think comparing common street crime with high financial crime is Apples and Oranges. Common criminals don’t have much to lose, yes going to prison sucks, but it means less when you live in low income housing with other people, can’t afford basic shit and/or are in significant mental distress. On the other hand Financial criminals usually have a LOT to lose, and to get into the position to commit those crimes they likely have a degree of rationality that’s less guaranteed than in street crime.

Frankly, I think we need a lot more of this kind of punishment to get more trust back into our high-trust society. More rich people need to go to prison for crimes against society, because honestly it feels more like Madoff and SBF were one offs rather than business as usual.