Well, well, well
Sounds like another Jordan Belfort.
I think most people that are celebrating his arrest would be surprised at what kind of ‘jail’ he was probably taken to, hint, it wont be the jail average folks are taken to! LOL
I just watched the joint press event for the FBI, SEC, and Federal Attorney for the Eastern District of New York. There is a laundry list of charges against him for his criminal behavior over several years and he was such a psychopath that he drew public attention to himself anyway. He will be going away for a very long time, unless he finds a really good lawyer. His old lawyer will not be much help, because he was also arrested for his part in these various schemes.
That is probably why he got caught.
There is one inescapable conclusion to be drawn here: markets are utterly incapable of regulating themselves. If they were, this guy would have been ran out on a rail years ago.
It’s wrong to revel in other people’s misfortune… but in this case I don’t want to be right.
This guy was a piece of work to put it mildly and what goes around, has now come around. Been hoping someone would ding this guy ever since he reneged on his promise to not raise the price of the drugs that made him a household name.
Couldn’t happen to a nicer guy.
Good to hear. There are many problems in the pharmaceutical industry. Along those lines I recently read Dr. Marcia Angell’s book, “The Truth about Drug Companies”. She is a former England Journal of Medicine editor best known for saying:
Do you think this is too strong?
Well I shall now quote Dr Marcia Angell, Dr Richard Horton and Dr Richard Smith. Editors of, respectively, the New England Journal of Medicine, the Lancet and the British Medical Journal. The three highest impact factor journals in medical research.
‘It is simply no longer possible to believe much of the clinical research that is published, or to rely on the judgement of trusted physicians or authoritative medical guidelines. I take no pleasure in this conclusion, which I reached slowly and reluctantly over my two decades as editor of the New England Journal of Medicine.’ Marcia Angell.
‘The case against science is straightforward: much of the scientific literature, perhaps half, may simply be untrue. Afflicted by studies with small sample sizes, tiny effects, invalid exploratory analyses, and flagrant conflicts of interest, together with an obsession for pursuing fashionable trends of dubious importance, science has taken a turn towards darkness.’ Richard Horton
‘The poor quality of medical research is widely acknowledged, yet disturbingly the leaders of the medical profession seen only minimally concerned about the problems and make no apparent efforts to find a solution.’ Richard Smith
Who, in a position of power, will finally wake up and realise that the vast database of medical research stinks of bias and manipulation. Who can we call upon to take up the gigantic and painful task of clearing out the Augean stables?
“The Truth About the Drug Companies: How They Deceive Us and What to Do About It”
I agree 100%
‘treating’ is much more lucrative than curing, I think this explains a lot of the corruption.
Personally for my addiction medication, I have to come in to see the doctor twice a month, the visits are 10 minutes or less, they drug test me, count my medication, the rest of the time involves the doctor and me engaging in useless small talk, usually nothing related to my health though, my insurance company is charged $750. for EACH one of these visits!!! This is all due to regulations on the medication I take.
Maybe some of our presidential candidates need to suggest a major overhaul of big pharma?