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Martin Shkreli is found guilty of securities fraud

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Re: Martin Shkreli is found guilty of securities fraud

#251
post #240

Earlier quoted context omitted.

Relying exclusively on bench trials seems unappealing to me (and I guess to James Madison, who enshrined the right of trial by jury in the Constitution) because it creates a much easier environment for an arbitrary court system to throw people in jail who are innocent and removes other protections like jury nullification. You could look at Japan, which tried to solve its problem of innocent people going to jail by in…

"because it creates a much easier environment for an arbitrary court system to throw people in jail who are innocent and removes other protections like jury nullification. You could look at Japan, which tried to solve its problem of innocent people going to jail by introducing a lay-judge system (kind of like jurors who can ask questions during the trial), for a real-life example of some of the problems you might hav…

And you think getting rid of juries would help, or at least not make things worse? One of the reasons it's so high is that most cases are resolved as part of the plea system and never go to trial.

Re: Martin Shkreli is found guilty of securities fraud

#252

Earlier quoted context omitted.

Sure, but the solution is not to wish that people like Shkreli don't raise prices on their drugs. Instead, we need to reform the US healthcare system to stop problems like this. Many drugs of similar kind, as Shkreli would point out, have a similar price. The difference is that those drugs are owned by faceless pharmaceutical companies with PR teams. Shkreli was an obnoxious person who was doing an obnoxious thing an…

>Sure, but the solution is not to wish that people like Shkreli don't raise prices on their drugs. Instead, we need to reform the US healthcare system to stop problems like this. The solution is both. Just because a broken system allows you to get away with being a monster doesn't justify you being a monster.

[deleted]

Re: Martin Shkreli is found guilty of securities fraud

#253

Earlier quoted context omitted.

You sound quite a lot like Trump. "Just let it fail..."

Versus what? Relying on the goodwill of pharmaceutical companies? Seeing as this has been going on for a while but there haven't been lots of airtime about it until now, I'd say Martin's on the right path.

> I'd say Martin's on the right path.

Right into prison.

Re: Martin Shkreli is found guilty of securities fraud

#254
post #5

I use to hate this guy, then I saw the Vice interview on him. It was nice to see his side of the story. I don't know much about this case in particular. It was kinda sleazy to see the congress question him about his price increases when they knew damn well it was perfectly legal and they haven't done anything to stop it. Shkreli seems to be trying to expose this hypocrisy, but the news loves their stories. Vice inter…

Still a horrible person for so many reasons (including this one [1] the other day). [1] https://twitter.com/laurenduca/status/890960104262180865

The only horrible person in that tweet is the rat messaging her that crap so he can write some clickbait garbage for whatever trash site he works for, tbh. Let's be real - we all say stupid shit while drunk.

Re: Martin Shkreli is found guilty of securities fraud

#255

Earlier quoted context omitted.

I believe he corrected the price of a drug. & no one went without. Those unable to pay for insurance got the drug for free. Also, I said two major flaws. Obviously, ppl have many flaws. Edit: It's economic illiteracy if you don't understand that. If you have evidence which says otherwise(?), I'm happy to look at it.

One thing to consider is: why is he the one who decides who can afford the drug or gets a free version? Seems horrible to me - we have laws to protect equal access to services like this (Medicare, Medicaid). Another argument of his I found extremely disgusting is that he claims he's reinvesting profits from the price raise to further drug research. Ok, but again, we only have his word for that (and he's been convicte…

It's insurance that pays, I believe . So it's a function of price. He changed the price based on market condition.

Agree on the second point. Personally, I don't think that's relavent.

Re: Martin Shkreli is found guilty of securities fraud

#256

Earlier quoted context omitted.

It does seem to be implied if you are invoking human fallibility to bolster an argument that jury trials are bad.

How does jury trials being imperfect imply that bench trials are perfect? A being true does not mean B is false...

The OP was saying that bench trials are much better, not just that jury trials are flawed.

Re: Martin Shkreli is found guilty of securities fraud

#257
post #218
post #170

Earlier quoted context omitted.

Bumping the price of a drug is not illegal. Shkreli was found guilty for fraud unrelated to the drug price hike.

Did I say otherwise? Is there any doubt in your mind as to why they went after him though? How many other hedge fund managers do you know of that have ever seen the inside of a jail cell?

Lots! Raj Rajaratnam, Gabriel & Marco Bitran, Florian Homm, Paul Moore IV, Michael Murphy, Jeffrey Toft, Chad Sloat, etc.

I admit to knowing none of the details in any of these cases, I just googled "hedge fund managers in jail".

Re: Martin Shkreli is found guilty of securities fraud

#258
post #5

I use to hate this guy, then I saw the Vice interview on him. It was nice to see his side of the story. I don't know much about this case in particular. It was kinda sleazy to see the congress question him about his price increases when they knew damn well it was perfectly legal and they haven't done anything to stop it. Shkreli seems to be trying to expose this hypocrisy, but the news loves their stories. Vice inter…

As a Canadian, I'm just curious: what are the current proposals to regulate pharmaceutical sales in the US?

In most Canadian provinces, the provincial government is the only authorized purchaser for prescribed medication. It is then sold to pharmacies and hospitals, who are in charge of distribution. (in some provinces, such as Quebec, a mix of public or private insurance will then cover most of the purchase of medication; everyone is covered by the public plan, but your employer is mandated to get a private plan if they can)

When Shkreli says "f-- Walmart" (in the Vice interview), it's horrifying, because I know a lot of people in the US who are not covered by insurance, so they buy medication at Walmart.. This is really hard to understand.

Re: Martin Shkreli is found guilty of securities fraud

#259
post #5

I use to hate this guy, then I saw the Vice interview on him. It was nice to see his side of the story. I don't know much about this case in particular. It was kinda sleazy to see the congress question him about his price increases when they knew damn well it was perfectly legal and they haven't done anything to stop it. Shkreli seems to be trying to expose this hypocrisy, but the news loves their stories. Vice inter…

https://www.currentaffairs.org/2016/02/all-of-your-attempts-...

> For some reason, recently a number of writers seem to have taken it upon themselves to salvage Martin Shkreli’s reputation. Previously, there had been a rough consensus that Shkreli, the oily, simpering pharmaceutical executive who raised the price of HIV drugs by 5000 percent before being indicted on fraud charges, was one of the most cretinous human beings alive. This seemed utterly uncontroversial, in fact so self-evident as to render debate unnecessary. [...] But a miniature genre of article has sprung up recently: the Martin Skhreli Is Not As Bad As You Think hot take. From Vanity Fair to The Washington Post to The New Yorker, authors have issued the provocative thesis that, far from being the mealy, smirking, patronizing little snot he appears to be both at a distance and up close, Shkreli is anything from a blameless cog in a vast dysfunctional apparatus to a sweet and tender do-gooder unfairly disparaged by a society too stupid and hateful to appreciate his genius.

> And the Vice profile, while questioning a number of Shkreli’s claims and containing numerous criticisms, calls Shkreli a “finance wunderkind” and “a Horatio Alger story” and sympathetically relays Shkreli’s claim that his unapologetically money-grubbing attitude is merely an exaggerated caricature that he plays for the public to entertain himself. [...] Let’s be clear: these reporters are dupes.

> One of Shkreli’s ex-girlfriends has confirmed that he is a manipulative, psychologically abusive habitual liar with zero capacity for empathy. As she explained: It soon became obvious that Martin was a pathological liar, would pretend to cheat on me and brag about it to raise his value in my eyes, so I’d always feel like I was hanging on by a thread, could be replaced, would vie for his approval and forgiveness.

> Shkreli’s ex-girlfriend also displayed screenshots of conversations in which Shkreli offered to pay her ten thousand dollars for sex, a proposition that revolted her.

> His menacing behavior has been noted elsewhere: he has been accused of waging a harassment campaign against an ex-employee, writing in an email that “I hope to see you and your four children homeless and will do whatever I can to assure this.”

Re: Martin Shkreli is found guilty of securities fraud

#260
Great. They convicted one low level autistic freak with no connections over a couple million dollars. Brave day for justice.

What about the daughter of a senator who is the CEO of the company that quadrupled the price of epipens? Yeah, right, mission accomplished, nothing to see there.

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