The frat boy of pharmaceuticals, Martin Shkreli, was sentenced to seven years in prison last Friday for securities fraud and conspiracy. After four years of earning millions by controlling the supply of certain medications, he was convicted of defrauding hedge fund investors in a Ponzi scheme.
“Martin Shkreli Is Going to Jail Because He Forgot There Are Consequences For Hurting the Rich”
Take notes kids on how to write headlines. Bingo!
Added to the cost of the meds is the doctor visit. If you’ve been on it a while, you still have to go to the doc. For some simple things, waiting for a doctors appointment can make you much sicker. Some countries allow many more types of drugs over the counter.
He made the BIG mistake of bragging about the increases in public, making other rich ass holes ripping off the masses uneasy. See, with these ass holes it’s A-ok to rip off the poor and working class, BUT you’re not supposed to brag about it in public forums.
If Trump wants to execute drug dealers he surely can start with this punk POS and work his way through the other pharmaceutical companies.
“In many ways Shkreli is a master of American capitalism, but he forgot its cardinal rule: Hurting people with less money than you is part of doing business, but ripping off other rich people is a line you do not cross.”
Nailed it. The rich don’t play…and they don’t forgive.
God bless you Mrs. Dempsey. There was a time in American business when the profit model was simple: cost + 100% markup. I don’t know when that changed, now the model is “charge what the market will bear” and “the value of any product is what people are willing to pay for it.”
Introducing the profit motive into healthcare as Shkreli does (and many if not all the other Big Pharma palyers) is nothing less than a coup.
I suspect the change occured sometime after we dispensed with Keynesian economics and adopted Milton Friedman’s sage wisdom.
What an excellent interpretation of this event. You wish this had been Shkreli’s framework from the rest of the media.
While in prison, he may be confronted by other inmates who will wonder why he didn’t wear a ski mask, like some people who make their money off muggings.
Now you understand why “too big to fail” is inseperable from the bailouts launching a decade of stock market soaring via STOCK BUY-BACKS.
sink to the bottom and grow some roots
No wonder about it at all to me! Bernie Madoff was taught the same lesson.
A lot of people got away with Madoff’s crime. First of all, it should have been obvious for a long time what he was doing, so either auditors kept dropping the ball or were intentionally looking the other way. Secondly, since a ponzi scheme works by initial investors grabbing the money invested by people later on, there had to be investors who were in on it and profiting almost as much as Bernie. From what I’ve heard, at least some of these investors have been identified and nothing has happened to them. They still have their loot.
Yes, no doubt your post, in my view, is correct.
The piece omitted another relevant factoid as to why Martin Shkreli is going to jail for screwing the rich: he did whilst being guilty of not being a WASP. Just as Bernie Madoff, Raj Rajaratnam, etc. about it.
“We are left to wonder why justice only appeared when the victims were rich.”
I haven’t wondered any such thing. When has it ever been different?
How many times is there something wrong with you, but you can’t call a specialist for an appointment. You have to be referred to that specialist by first going to see your primary doctor. Your primary doctor sees you for 5 minuets and makes the referral for you and then charges your insurance company $300 for an office call.
It’s a racket.
And you have to wait for 20 minutes in the waiting room after being early or on time for your appointment, then you are escorted to the examining room where you wait for another 15 minutes for a nurse to come take your blood pressure, then you wait another 15 minutes for that 5 to 10 minute visit by the doctor, who winces at every question.
The rich are NOT Americans, despite what any passport they own might say. They don’t share our problems or ideals. If the going gets rough, they jump on a private jet, adding excessive pollution to our air as if they don’t need it.
This country, hell every country needs to have a tax structure that acknowledges that no one person does anything worth over a million dollars a year by them selves, and without help of their fellow citizens. If they are making their money off of dividends that’s an easy direct correlation to my claim. These oligarchs also TAKE and reward their sorry-assed cronies with excessive compensation, completely disproportionate to the1 person’s contribution of labor (As if making deals over golf and drinks in the clubhouse could be considered work!) with impunity.
We need people in office who will add an upper tax bracket, for ridiculous compensation should be taxed at a ridiculous level to discourage the practice! Anything over a million dollars a year society should get back 90% of it as a disincentive to such ridiculous compensation.
Stop voting for incumbents! Stop voting for anyone who is currently making over a million dollars a year, or who by inheritance had a net worth of over a million dollars. These folks are decidedly not middle class don’t give a fly and folk about the problems of regular Americans but claim all the benefits of our societie here. If this Shkreli fiasco doesn’t present a compelling reason to take class war up a step further I don’t know what it’ll take! Maybe rich people coming in and shooting up schools?
If incomes are not relatively flat across the societie then you get into these silos where people don’t share the same problems and don’t have any kind of impetus to find solutions that work for everybody. That’s where we’re at. The only way to combat this is by enforcing equality through the tax system. This is not a new idea.
So poeple in Oakland are supposed to stop voting for Barbara Lee, or people in Vermont are supposed to stop voting for Bernie Sanders?
Ooh, well you may have identified.the only exceptions that prove the rule. You are right, I’d have my friends who just moved to Vermont vote for Bernie! I confess I don’t know the other one.
In this one sentence she nails one of the major flaws in for-profit health care!