The Anti-Capitalistic Inquisition

Discussion in 'Economics' started by PoundTheRock, Aug 16, 2005.

  1. Word!

    The guy is a genius, taken down by jealous government hacks.

    Unfortunately, the current generation of whiners and tattletales is empowering an ever-growing central government.
     
    #11     Aug 16, 2005
  2. newbunch

    newbunch

    Milken's crime was that he did business with some crooks (ie Boesky) and got tangled in the web. Milken himself was no crook nor criminal.
     
    #12     Aug 16, 2005
  3. Fascinating. But do be sure to let me know when you finish reading Stewart's Den of Thieves. Then, perhaps, we can discuss his sale of junk bonds to "captive" clients at something decidedly other than arm's-length transactions to the detriment of countless innocents, including U.S. taxpayers.

    Only $250,000, eh? Nothing quite like PR, is there? No doubt, you refer to the 98 charges of racketeering and securities fraud on which both he and his brother were indicted. Of course, there is never a lack of "selfless" apologists and revisionists in proximity of huge sums of money. No doubt, their altruism seeks no reward in their quest for "the truth."

    If you will forgive my observation, I think that a person's choice of heroes speaks volumes.
     
    #13     Aug 16, 2005
  4. How unfettered and effortless life must be for those who simply decide what history is, rather than go to the pesky trouble of studying it. Perhaps I should try it some time.
     
    #14     Aug 16, 2005
  5. My sentiments exactly. Some people seem to have no problem putting shit into a cone and calling it ice cream.
     
    #15     Aug 16, 2005
  6. Jurors Begin Deliberating in Vioxx Case


    I guess those in the economics community would weep if Merck was punished into bankruptcy just because they put a drug on the market it knew would cause heart attacks. I don't really expect that harsh a sentence and who really cares, all they do is raise the price of drugs to cover and verdict and off they go. Isn't capitalism great that you can intentionally put something on the market that can kill and not worry too much about the consequences because economists are on your side to help limit any financial liability. Just deny everything and make up for any losses by raising the price on other goods you produce.


    And damn that Michael Moore, he's probably gonna put this in his upcoming film Sicko. All lies, damn him! Pharma's putting drugs on the market with a risk of killing patients just to make a buck, lies! Senior citizens flying to Mexico to fill their prescriptions cause its cheaper there (including airfare) than it is to do so in the US...WTF?!
     
    #16     Aug 18, 2005
  7. GTG

    GTG

    I don't know...if thousands of employees who had nothing to do with covering up whether or not Vioxx caused heart attacks lose their jobs and millions of shareholders who also had nothing to do with it either, lose their equity that sounds pretty sad to me. It doesn't to you?
     
    #17     Aug 18, 2005
  8. newbunch

    newbunch

    Wasn't Vioxx approved by the FDA? Should they be sued? Maybe the federal government will have to go out of business.
     
    #18     Aug 18, 2005
  9. The workers can find work elsewhere. As for shareholders, Enron, Worldcom, KMart.................
     
    #19     Aug 18, 2005
  10. I have read Den of Thieves. But I have
    come to the conclusion that Milken's conviction was due to: 1) An overzealous
    NY attorney general with political ambitions (Guiliani). 2) A business establishment that was threatened by Milken's business dealings. So I think he
    was a scapegoat.

    The regulation he violated were relatively
    minor, and anyone with as much power
    as him will run afoul of some rules in the
    securities industry. It certainly didn't warrant jail time.
     
    #20     Aug 18, 2005