- Caroline Ellison has been moved from federal prison to community confinement.
- That means the former Alameda Research CEO is either in home confinement or a halfway house.
- Ellison served about 11 months of her two-year prison sentence.
It's kinda crazy that we put people like this in prison (same for CZ or Ross or for Samourai guys or anyone non-violent). What purpose does it serve?
What do you suggest for white collar criminals instead?
fine them and restitution if relevant.
what if they no longer have the funds to make their victims whole?
I suppose it ultimately ends in state violence (prison) if they can't pay. But things like garnishing or the obligation to make payments in the future make sense.
The goal of prison seems to be deterrent, and wrecking a scammer's financial life seems like a good deterrent.
Are there other solutions?
People who where defrauded now have the double insult of having to pay for the incarceration.
thieves should serve prison sentences
How is it crazy? She was convicted of stealing people money.
We throw people in Jail for much much less then the damage FTX caused people.
It's crazy that we put people in jail for theft. I'm not convinced it's that much of a deterrent.
It’s a crime and people should be punished for crimes. Its in the Ten Commandments!!
I agree. Its barbaric and dumb. They should be forced to make things right and put to effective productive work. They aren't dummies that should be sitting around. The only people that should be locked in cages are those that can't exist peacefully with the rest of us. And even they could be managed more effectively.
There is the attitude that this is somehow weak on crime. I think it's just stupid and wasteful. Even if you don't care about the criminals we should care about those they take advantage of and the tax payers that are paying for their housing.
I don't talk about anarco-capitalism much but I do think private parties would do a much better job of this than the state. Prisons are incredibly wasteful, and ineffective. They actually do a better job creating crime than stopping it.