The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
Restoring the Right to Trial by Jury: How the Right to Trial Act Helps Reclaim the Sixth Amendment
English Summary
The article argues that the Sixth Amendment right to trial by jury has been effectively gutted by coercive plea bargaining, with 98.3 percent of federal convictions in 2022 coming from guilty pleas rather than trials. Using the case of Aaron Swartz—who faced a 15,000 percent sentencing increase for refusing a plea deal—as a focal point, the piece illustrates how prosecutors exploit charge stacking, mandatory minimums, and the resulting 'trial penalty' to pressure defendants, including innocent ones, into waiving their constitutional rights. The bipartisan Right to Trial Act (H.R. 9095) would require judges to review plea negotiation history when sentencing after trial and grant them authority to bypass mandatory minimums used punitively, representing a significant step toward rebalancing power between prosecutors and the judiciary in the federal criminal justice system.
中文摘要
本文主張，美國憲法第六修正案所保障的陪審團審判權，實際上已被強制性認罪協商制度架空。2022年聯邦定罪案件中，高達98.3%係透過認罪協商而非審判定讞。文章以乙亞倫·斯沃茨（Aaron Swartz）案為核心——他因拒絕認罪協商而面臨量刑幅度暴增15,000%——具體說明檢察官如何利用罪名疊加、強制性最低刑期，以及由此產生的「審判懲罰」機制，迫使被告（包括無辜者）放棄其憲法權利。跨黨派提出的《審判權法案》（H.R. 9095）將要求法官在審判後量刑時審查認罪協商歷程，並賦予法官繞過懲罰性強制最低刑期的權限，此舉代表在聯邦刑事司法體系中重新平衡檢察官與司法機關權力關係的重要一步。
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