How is losing all your booty not a big enough deterrent ?
Edit: Also, I'd like to make a distinction here between copyright infringement and financial fraud. I don't think it's been proven yet that people are losing jobs and companies are becoming bankrupt because of large scale copyright infringement. That isn't the same as financial fraud. Personally, I'd like my tax dollars to go first to a jail that houses someone that poses immediate physical danger to me or someone else. Then a list of other things. And finally to those 'dangerous' young'uns from the pirate bay. They're pretty far down the list of evil doers.