He's being prosecuted. He ripped off rich people.

Submitted by Amanda Matthews on Thu, 07/27/2017 - 3:52pm

You don't get prosecuted if you rip off the Middle/Lower classes. Ask Blankfein, Dimon, and Fuld if you don't believe me.

The Strange Case of Martin Shkreli Is Wrapping Up

Mr. Shkreli is charged with defrauding investors at two hedge funds that he ran, MSMB Capital and MSMB Healthcare. Another count says that he defrauded Retrophin to pay back MSMB investors via settlement agreements that were never approved by Retrophin’s board, and by sham consulting agreements. He is also charged with illegally controlling a huge number of Retrophin shares by handing them out to associates.

In February 2011, when he was running MSMB Capital, he “blew up the fund,” in the words of one former employee, with a short sale on a pharmaceutical stock, losing almost everything. Mr. Shkreli, however, sent investors at MSMB Capital statements showing terrific returns, according to evidence introduced at the trial.

*

The statements, added together, suggested that MSMB Capital had about $3.3 million in holdings in February 2011, and about $3.1 million in November 2011.

The actual amounts in MSMB Capital’s combined bank and brokerage firm accounts in those months: $58,502 and zero.

*

And the victims, usually the emotional heart of a fraud case, may be difficult for jurors to connect with. Every MSMB investor who testified at the trial made all of his or her money back with a handsome profit, as Mr. Shkreli eventually arranged for them to get some combination of cash and Retrophin shares.

The victims were mostly rich, and not very sympathetic characters.

https://mobile.nytimes.com/2017/07/26/business/dealbook/martin-shkreli-t...

We've seen this before. No silly, not when they went after the Wall Street monied thugs who destroyed the economies of places all over the planet. And it wasn't when they were punished for cheating millions out of their homes, pensions, their 401k retirement accounts, in some cases causing a few to commit suicide. None of that happened. So when did we see this prior to this greedy little whackjob's prosecution? When they threw Bernie Madoff in prison for bilking the rich, that's when.

This country is seriously screwed up. And it's because the laws only work for a very small percentage of the American people. There is going to be a day of reckoning. And we're all going to suffer.

I read that Bezos supplanted Gates for the title of the world's richest man. 90.6 billion compared to Gates paltry 90 billion.

Move Over, Bill Gates. Jeff Bezos Gets a Turn as World’s Richest Person

https://mobile.nytimes.com/2017/07/27/business/jeff-bezos-richest-man.ht...

Makes me think of something I saw on the news when I was young. It was a sign someone was holding up during the 1968 demonstrations in Chicago. It said "Fight inflation, eat the rich".I never forgotten that newscast. Class war was not a thing back then. We were still too stupid to know how toxic and greedy our 'betters' really are. And that includes both Gates and Bezos.

Those bastids better get to finishing those underground bunkers and 'safe' rooms. They just might be needing them sooner than they think.

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Submitted by Not Henry Kissinger on Thu, 07/27/2017 - 4:34pm
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In 2015, then serving as CEO of Turing Pharmaceuticals, Shkreli hiked the price of toxoplasmosis treatment Daraprim from $13.50 per pill to $750 per pill. He has since resigned as CEO of Turing and is facing a federal criminal indictment over unrelated allegations, including fraud charges.

Like Shkreli, Mylan is now facing a deluge of criticism after increasing the price of EpiPen by 500% over the last six years to a list price of $600 today for a two pack.

Screwing over rich people may get him thrown in jail, but Shrikeli really is the poster child for the drug industry screwing over patients. (He said the epipen increase was 'too low'.)

That's the real reason he should go to jail, but hey, whatever works.

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The current working assumption appears to be that our Shroedinger's Cat system is still alive. But what if we all suspect it's not, and the real problem is we just can't bring ourselves to open the box?

Submitted by Amanda Matthews on Thu, 07/27/2017 - 4:56pm
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@Not Henry Kissinger
In what I posted that even hinted that Skrelli was a 'good guy'. Could you please point it out so I can fix it since I don't know where it is.

Maybe you missed my point. They only prosecute those who rip off the rich.

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Submitted by Not Henry Kissinger on Thu, 07/27/2017 - 5:04pm
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@Amanda Matthews

Especially when you summarize his defense attorney's closing argument.

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Submitted by Amanda Matthews on Thu, 07/27/2017 - 7:41pm
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@Not Henry Kissinger
don't think you have the faintest clue as to what's going on here Henry. Logical thinking would have clued in a person capable of doing such that the entire point of my post was that there are laws that protect the rich that don't pertain to the rest of us. We can be taken but you don't dare try to steal a dime from a rich man. it's not rocket science Henry. Here, I'll walk you through it.

Here's why he's being prosecuted:

The prosecution has argued Mr. Shkreli lied about several aspects of his hedge funds and work at Retrophin.

Do you see anything relative to my post in that? No, of course you don't. Now let's look at some other pertinent points in the NYT article that you obviously either didn't read or didn't understand.

The defense argued that Mr. Shkreli was factoring in the value of Retrophin when he sent these statements, and the statements specify he was giving investors “the value of this investment,” not the amount in the combined bank and brokerage accounts.

See anything in there even close to my point? See anyone saying Skrelli's a 'good guy'? If you do show me where it is. Now let's move on.

One difficulty with this argument: While one of Mr. Shkreli’s funds, MSMB While defense lawyers typically try to display their clients’ positive attributes, Mr. Shkreli’s lawyers have painted him as an erratic misfit, to the point that the government has repeatedly objected to the defense team’s unflattering portrayals of its own client.The goal of such a portrayal is presumably to get jurors to question whether Mr. Shkreli knowingly committed fraud, a key part of the charge against him.

Well Henry, where does the defense say that he's a good guy? Truth is that not me, not the his own defense counsel, not the NYT, no one.tries to make him look like a 'good guy'. It's just some nonsense you came up with all on your own.

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Submitted by Not Henry Kissinger on Thu, 07/27/2017 - 9:46pm
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@Amanda Matthews

All I was trying to do was add some fairly significant background to the story. You don't need to jump down my throat with your snarky cheap shots just because you don't like commenters changing your narrative.

And besides, I never claimed you thought Shrkeli was a good guy. That was just something you erroneously read into.

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Submitted by Amanda Matthews on Fri, 07/28/2017 - 1:41am
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@Not Henry Kissinger .
Get to tell me or anyone else what they posted about, especially after you've been told that you've totally missed the point of what was posted in the first place. I told you what I was saying.. But what do you do? You come right back and do it again. And then have the gall to get upset when I get sick of you telling me what I meant. That part about my presenting the defense's case was absolutely disingenuous. .And out of curiously and since no one with two functioning brain cells would ever think he's a 'good guy',(something no one ever said in the first place) what significant background could you possibly have been attempting to provide?

If you want to 'infer' things, you hetter know what you're talking about or you deservev every bit of snark that you get.

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

Submitted by thanatokephaloides on Thu, 07/27/2017 - 5:55pm
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@Not Henry Kissinger

Screwing over rich people may get him thrown in jail, but Shrikeli really is the poster child for the drug industry screwing over patients. (He said the epipen increase was 'too low'.)

That's the real reason he should go to jail, but hey, whatever works.

You know what they say about bad karma.....

Wink

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"All power corrupts absolutely!" -- thanatokephaloides

Submitted by Not Henry Kissinger on Thu, 07/27/2017 - 9:54pm
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@thanatokephaloides

the prosecutors should be going after him for drug price gouging

- except it's not illegal!

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Submitted by Ellen North on Thu, 07/27/2017 - 11:24pm

@thanatokephaloides

It would be strangely appropriate if he wound up in this sort of place...

http://www.alternet.org/story/151732/21st-century_slaves%3A_how_corporat...

21st-Century Slaves: How Corporations Exploit Prison Labor
In the eyes of the corporation, inmate labor is a brilliant strategy in the eternal quest to maximize profit.
By Rania Khalek / AlterNet
July 21, 2011

This article has been updated.

There is one group of American workers so disenfranchised that corporations are able to get away with paying them wages that rival those of third-world sweatshops. These laborers have been legally stripped of their political, economic and social rights and ultimately relegated to second-class citizens. They are banned from unionizing, violently silenced from speaking out and forced to work for little to no wages. This marginalization renders them practically invisible, as they are kept hidden from society with no available recourse to improve their circumstances or change their plight.

They are the 2.3 million American prisoners locked behind bars where we cannot see or hear them. And they are modern-day slaves of the 21st century. ...

But, of course, he's rich and White, so he won't. Not that this should be possible at all, anywhere, but it's people like him who've created such atrocities and they really ought to be at equal risk of winding up on the wrong side of the sort of pathological profiteering such as he enriches himself from, smirking all the while.

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Submitted by Alligator Ed on Sat, 07/29/2017 - 2:45am
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@thanatokephaloides

You know what they say about bad karma.....

You know what they say about bad pharma.

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Submitted by k9disc on Thu, 07/27/2017 - 4:36pm
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stack 2 Inches tall.

Seems like a fair and just society to me.

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Submitted by lizzyh7 on Thu, 07/27/2017 - 4:41pm

Nah, that's just the difference between the big dogs and the rest of us. You know, like how your doctor makes so much money and you don't, it's all good, right? They've earned all that after all.... Why, everyone can't make the same you know, that would be SO unfair.

S/

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Submitted by dervish on Thu, 07/27/2017 - 5:04pm
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How very medieval of them.

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"Obama promised transparency, but Assange is the one who brought it."

Submitted by snoopydawg on Thu, 07/27/2017 - 5:51pm
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while members of congress were allowed to buy stocks from the companies that they sent business to. This is how so many of them became millionaires.
Look at much money DiFi's husband has made from his businesses that congress sent his way.
The graft that congress was able to get away with would be illegal if anyone else tried doing it.

IIRC, Barry did want to hold the bank CEOs accountable for crashing the global economy, but Rahm and Geitner told him not to. As usual, Barry folded.
This is when he started down the path of being the Empty Suit President.

Unless you talk to his bots. They say that he was the best president since FDR.

FDR- "I welcome their hate"
Barry- "I'm afraid of looking like an angry Black man"

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Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

Submitted by FuturePassed on Thu, 07/27/2017 - 8:06pm

@snoopydawg
started down the road to being the empty suit president while he was an undergraduate. Haven't you ever wondered why the pharmaceutical and finance industries gave him more money than Hillary Clinton?

Obama appointed Rahm and Geitner and please don't leave out Summers.

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Submitted by snoopydawg on Fri, 07/28/2017 - 2:23am
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career, starting before his run for the Illinois senate.
Both he and Michelle have worked for the rich at the expense of the poor.
Both of them have built up a false profile that makes them look like they were helping the poor, but in reality, they were lining their pockets on behalf of the rich.
Penny Pritzer and her family have backed Barry from the start too. The family owns a bank of hotels.
Penny was rewarded with an ambassadorship to some country.
As I stated, the damage that Barry did to this country is going to be felt for decades. Just like the legislation that Clinton passed is hurting people today. The welfare, crime bills and his financial legislation is affecting the country today.
What he did during his tenure was to set up the ball for Bush to hit when he became president.
@FuturePassed

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Submitted by Wink on Thu, 07/27/2017 - 9:20pm
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@snoopydawg
Obama left a Ton on the table, worried about his -ahem- "legacy." He seemed to think his ObamaCare was enough.

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Submitted by Ellen North on Fri, 07/28/2017 - 7:47am

@Wink

Lol, seems to me as though Obama was, in actuality, concerned about that yuuuuuge 'legacy' he was anticipating from various corporate interests and billionaires to whom he'd sacrificed his country, the American people and the countries and people of the world. Not to mention the survival chances of life on the planet forming the life support system itself.

Although even he was better than the ever-so-frackin'-bloodthirsty Clintons would have been, sorta like Trump not being as immediately globally destructive as The Mad Bomber Herself, that being about the best I can say for him... apart from him not being a fanatical religious fundamentalist like Pence. Scary to think that it could have been/could soon be even worse, isn't it?

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Submitted by dervish on Thu, 07/27/2017 - 11:23pm
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@snoopydawg to knock out an incumbent. Casework has given every scumbag in Congress a 20% or so cushion of support that almost no one can challenge.

Yeah, we know Senator Dirtball is a criminal, but he helped Aunt Mabel with her social security once, so now we owe him our vote.

That type of thing has destroyed this country.

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"Obama promised transparency, but Assange is the one who brought it."

Submitted by native on Fri, 07/28/2017 - 1:40pm

@snoopydawg
he should have been called the Origami President.

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native

Submitted by Wink on Thu, 07/27/2017 - 8:55pm
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our health care costs Way more than it should... "... two hedge funds that he ran, MSMB Capital and MSMB Healthcare." It's a big part of the mix on Wall Street.

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the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

Submitted by Song of the lark on Thu, 07/27/2017 - 10:15pm
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in Amzn stock due mediocre earnings. I get your meaning about the banksters but I have no love for the wretch Shrkeli. As for doomsday bunkers nothing alittle MOAB couldn't take care of.

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Submitted by Song of the lark on Thu, 07/27/2017 - 10:15pm
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in Amzn stock due mediocre earnings. I get your meaning about the banksters but I have no love for the wretch Shrkeli. As for doomsday bunkers nothing alittle MOAB couldn't take care of.

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Submitted by Ellen North on Fri, 07/28/2017 - 7:49am

@Song of the lark

Now that was worth repeating!

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Submitted by MsGrin on Fri, 07/28/2017 - 1:03pm
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...since she opted to not fully investigate/prosecute Mnuchin. We owe her a solid (or something) for that. And the Dems are apparently elevating her for the new crown.

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'What we are left with is an agency mandated to ensure transparency and disclosure that is actually working to keep the public in the dark' - Ann M. Ravel, former FEC member

Submitted by Amanda Matthews on Fri, 07/28/2017 - 1:43pm
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@MsGrin
Not to run the Clinton Creature I think this is who they'll put her up as the 2020 'female' candidate for president. She's the perfect toady for the DNC's johns.

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Politics is the entertainment branch of industry. - Frank Zappa

Submitted by MsGrin on Wed, 08/02/2017 - 9:59pm
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@Amanda Matthews female POC - so we're not allowed to object to her corporatist and anti-people proclivities.

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'What we are left with is an agency mandated to ensure transparency and disclosure that is actually working to keep the public in the dark' - Ann M. Ravel, former FEC member

Submitted by native on Fri, 07/28/2017 - 2:23pm

@MsGrin

if Kamala Harris were not the Dem nominee in 2020. To me it seems almost inevitable. Here's a foretaste of her campaign.
[video:https://www.youtube.com/watch?v=VbQdKSjzRUY]

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native

Submitted by earthling1 on Fri, 07/28/2017 - 1:54pm
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a complete slate of honest candidates or we are doomed.
So, it looks like doom it is.
I hate to be so pessimistic, but where are we going to find 500 honest candidates?
I swear, I would vote for a dog catcher, garbage man, Wal-Mart greeter before I would any current hack in office today. Or one thats been in office.

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Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.

Submitted by Amanda Matthews on Fri, 07/28/2017 - 2:05pm
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@earthling1

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

Submitted by native on Sat, 07/29/2017 - 11:28am

@earthling1
by selecting candidates at random. It would be hard to do much worse. Just hold a national lottery, and may the luckiest SOB win.

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native

Submitted by dervish on Sat, 07/29/2017 - 12:44pm
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@native over the current system. Democracy isn't working, as we're choosing only the worst possible people.

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"Obama promised transparency, but Assange is the one who brought it."

Submitted by Ellen North on Sat, 07/29/2017 - 1:28pm

@dervish

Actually, it seems to be the worst possible people choosing the worst possible candidates which Americans are allowed to choose to vote for, whether their votes are counted or not.

USA! USA! USA! (Usual Shit Ammirite?)

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.