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+16 +1
The Mansions Owned by White-Collar Criminals
Enron, Tyco, WorldCom, Madoff. A look at the mansions built or bought with corporate fraud.
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+10 +1
Darwin Wept
Pyramid Schemes, Collusion, and Price-Fixing, the Modern American Way. By Steve Roth at Angry Bear.
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+14 +1
We bailed you out, and now you want what!‽
Wall Street figures are suing the government because they didn’t like their bailouts. And they just might win.
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+21 +1
The Duggars Are Broke or Just Greedy as Hell
Since getting kicked off TLC, the 19 Kids and Counting family are working their ‘fans’ for donations. The Duggars could be in financial trouble or maybe they’re just getting greedy. Since losing their TLC show in mid-July amid the scandal surrounding eldest son Josh Duggar’s confessed molestation of five children—four of them his sisters—members of the embattled fundamentalist family have issued four separate calls for public donations.
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+30 +1
Mylan, Theranos, and Valeant Resort to Unsavory Governance Practices
Investors have suspended their judgment and blessed unsavory practices at firms like Mylan, Theranos, Valeant, and Turing Pharmaceuticals. By Jeffrey Sonnenfeld.
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+46 +1
Shackling the Masses With Drastic Capitalist Tactics
We should denounce ruthless and wild compradors like Wu-Tang superfan Martin Shkreli, but also understand the cold world in which they operate.
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+27 +1
$100 Billion in Tax Revenue Lost Every Year Due to Loopholes for Multinationals
On Sunday, Apple CEO Tim Cook appeared on CBS's 60 Minutes and defended the world's largest corporation's record of sheltering profit overseas to avoid U.S. taxes. Interviewer Charlie Rose questioned Cook if Apple is engaged in, quote-unquote, a sophisticated scheme to pay little or no corporate taxes on $74 billion of revenue overseas. Here's how Cook responded. TIM COOK: That is total political crap. There's no truth behind it. Apple pays every tax dollar we owe.
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+31 +1
Martin Shkreli’s troubles deepen—from allegations of fraud to IP infringement
Embattled former pharma CEO Martin Shkreli's legal troubles deepened Tuesday when the poster child for greed was sued for copyright infringement in connection to the $2 million Wu-Tang Clan hip-hop album he bought last year. Shkreli is the founder and former CEO of Turing Pharmaceuticals who became reviled for increasing the price of a life-saving drug by more than 5,000 percent last year. He also faces unrelated federal criminal...
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+23 +1
Ghostface Killah's Martin Shkreli Diss Track Is Glorious
If you thought B.o.B. and Neil deGrasse Tyson’s Flat Earth raps were the most improbable diss tracks ever, wait until you hear the diss track about pharmaceuticals. Martin Shkreli is the man everyone loves to hate lately. The CEO of Turing Pharmaceuticals raised the price of AIDS drug Daraprim from $13.50 to $750 a pill, and then smirked his way through a congressional hearing about it. He also bought the sole copy of the Wu-Tang Clan’s latest album, Once Upon a Time in Shaolin, for $2 million.
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+15 +1
[New Orleans] Lead poisoning lawyers make $2 million; victims average $17,000
Three lawyers appointed by the court to help administer the settlement fund were paid, in total, almost $2 million, with one of them making almost half a million dollars for four months of work. By Richard A. Webster.
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+33 +1
Pharmaceutical Companies Hiked Price on Aid in Dying Drug
The drug’s price went from $200 in 2009 to $3,000 today. Doctors and patients want to know why. By April Dembosky.
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+21 +1
How Habitat for Humanity Went to Brooklyn and Poor Families Lost Their Homes
The charity paid millions in federal stimulus funds to developers shortly after longtime tenants were pushed out. “We are spending federal money to throw low-income New Yorkers out of buildings,” wrote a Habitat whistleblower. By Marcelo Rochabrun.
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+3 +1
This unusual test reveals how smart you are
Researchers have found a surprising indication of intelligence. By Jeff Guo.
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+17 +1
Denmark Is Big Victim Of Wall Street Tax Avoidance Deals
The complex transactions add up to a meaningful loss of revenue from dividend taxes Danish taxpayers would otherwise get. By Cezary Podkul, Anne Skjerning and Tor Johannesson. (July 12, 2016)
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+45 +1
The DOJ deals a devastating blow to professional songwriters
"Last week, however, under Assistant Attorney General Renata Hesse (a former Wilson Sonsini attorney -- Google’s law firm), the DOJ announced that, going forward, it intends to interpret the Consent Decrees to require ASCAP and BMI to only issue licenses for songs they control 100%, up-ending decades of custom and practice." By Savan Kotecha. (July 20, 2016)
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+19 +1
Martin Shkreli finally gets a court date -- a year from now
Martin Shkreli, the infamous face of outrageous drug price hikes, was back in federal court Thursday. Shkreli faces eight criminal counts, including two counts of securities fraud and various conspiracy charges, for allegedly deceiving investors about his disastrous financial performance as a hedge fund portfolio manager. But he won't have to stand trial for at least another year. A federal judge in Brooklyn set a date of June 26, 2017.
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+53 +1
Even 'pharma bro' calls EpiPen price hikers 'vultures' amid backlash
A growing chorus is calling on the Mylan pharmaceutical company to justify its over 400 percent price hikes on EpiPens.
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+2 +1
Dear EpiPen Customers...
To whom it may concern: As the CEO of Mylan, maker of the world-famous EpiPen, it gives me great pleasure to address you, via email from an undisclosed location, concerning the pricing of our product. As you may know, my father is a U.S. senator from West Virginia, where the state motto is “Montani semper liberi.” It means “mountaineers...
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+12 +1
EpiPen’s 400 percent price hike tells us a lot about what’s wrong with American health care
The EpiPen was invented in the 1970s by a biomedical engineer, Sheldon Kaplan, who was searching for a way to treat allergic reactions quickly. What he came up with was the EpiPen we know today: a pen-like device that delivers a premeasured dose of the hormone epinephrine in emergency situations. The device is ubiquitous in our country, carried by those with asthma or life-threatening allergies.
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+20 +1
Hedge Fund Manager Profited From Death Arbitrage
It’s gross, but grossness by itself doesn’t violate securities laws. By Matt Levine. (Aug. 16, 2016)
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