>Currently it shields nearly everyone from everything in nearly all cases from run-of-the-mill business failure all the way up to straight-up fraud.
Tell that to Bill Hwang or Sam Bankman-Fried.
Tell that to Bill Hwang or Sam Bankman-Fried.
Had they been scamming small investors, even for the same total dollar value, they might have actually gotten way with it.
Not only did they lose other rich peoples money, they lost money for people that were richer than them. Important distinction ..
I also think it’s clear that SBF was jailed for his effects on the rich rather than on average people. Worse than fleecing billionaires, he made them look bad. Clearly he’s a scumbag who deserves prison time, but people worse than him are free.
>I also think it’s clear that SBF was jailed for his effects on the rich rather than on average people. Worse than fleecing billionaires, he made them look bad.
"The rich" was upset enough at SBF losing $32 billion to throw the book at him, but are totally fine with the GFC causing $2 trillion in damage to the global economy?