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The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

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Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#221
post #68
post #66

Earlier quoted context omitted.

Yeah, but the trick seems to be to kill thousands rather than one. Then you have the full might of the law out to protect you. Exhibit A is the Sacklers family.

Again, no. If some drug company killed a single person with a weird side effect that they buried, do you think it'll be discovered, much less prosecuted? The Sacklers got prosecuted because the opiod epidemic was huge, not because they passed some magical threshold so it's magically fine.

> The Sacklers got prosecuted because the opioid epidemic was huge

No, the Sacklers didn't get prosecuted or even hindered, but aided at every turn, therefore the opioid epidemic got huge. Eventually it became so expensive for society as a whole that it couldn't be allowed to continue, and then the Sacklers were stopped.

They weren't "prosecuted," though. Tens or maybe hundreds of thousands dead, no criminal charges, and they're all still impossibly wealthy. I was once prosecuted for sitting on a sidewalk, and spent the night in jail. No Sackler has spent the night in jail, or missed a massage appointment. Why? Because they passed some "magical" threshold that makes it "magically" fine.

If you go pick up the heroin that you and a friend later do together, and the friend overdoses, you will likely be thrown into prison for murder or manslaughter if you take them to the hospital. The Sacklers still get to own pharmaceutical companies, as long as they don't sell opioids.

https://www.lawyer-monthly.com/2025/01/the-sackler-family-le...

They literally had to be taken to the Supreme Court to lose civil immunity (barely, 5-4) granted by lower court bankruptcy judges. The criminal immunity is not official, it's simply because of their class as owners. The law is written in an intentionally childish way so that to prosecute them criminally means you have to prove that they had murderous intentions, rather than it being enough that they were top-level opioid dealers who ignored and buried anything that would lose them money.

As long as they just wanted to make money, it's A-OK. They can only be charged if their goal was to murder people, regardless of money. This logic somehow does not apply to lower-level drug dealers who have failed to become "magical," to your best friend who gave you half their heroin for free and rushed you to the hospital when you started looking bad, or to Matthew Perry's dealers.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#222

Earlier quoted context omitted.

According to one lawsuit, Cal-Maine wasn't impacted at all by the avian flu, they just jacked prices up 270% anyway while using the avian flu as an excuse. > Meanwhile, in context and during the class period, egg producers like Cal-Maine increased egg prices by as much as 270% in 2023 despite having zero Avian Flu outbreaks in their egg laying hen layers on Cal-Maine affiliated farms ( https://www.classaction.org/new…

“As an excuse” is a weird way of saying “responding to national supply and demand”. 100% of the suppliers who didn’t have to cull all of their chickens raised their prices.

Adam Smith is upset!

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#223
post #140

I did not realize the egg crisis was found to be price fixing operation. As I recall during the whole thing the news was non-stop about how it was related to broad-based inflation, chicken culling for avian flu, etc. Seems like all that was a lie, or at least merely a half-truth.

Back then I had done the math on how long it takes to turn around a commercial chicken coop after a complete full. The timeline from egg to fully producing hen was quicker than I thought, and it seemed they should have been able to keep up the replacement rates.

Factor in the labour and who's doing it (or not)

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#224
post #45
post #42

Earlier quoted context omitted.

What do you mean? Did you read the article? There’s so much evidence showing that it was the opposite. Their profits shot up 3x in 2023 and 5x in 2024. They had 70%-140% profit margins. They publicly said that the end of the flu was a risk for their profits. There’s plenty of messaging recording explicit price collusion. How is that a natural supply shortage? The underlying economic factor is simply that monopolies o…

Free-market libertarianism is a disease for which evidence is no cure.

Yeah but the smoking gun is that volumes didn’t really go down much. I would buy higher unit margins on a shrinking volume, but for total profits to materially increase that means prices went up without a significant impact to volume. That smells rotten.

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#226

Earlier quoted context omitted.

Yeah, he's definitely the cause of all our past and current problems.

Darn Biden for attacking Iran and causing these high gas prices!

It was Kamala, bro. biden was replaced by a humanoid robot for his 12 last months in office. trump was one of the founders and the CEO (Chief Executed Officer) of that robot company. he's also gonna be the next Pope. just you wait ...

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#227

Earlier quoted context omitted.

>all I heard was Biden-flation (or whatever they called it) was why we needed a new President. From whom did you only hear that? Newsmax? The Drudge Report?

Apparently vox populi. A majority of the U.S. must frequent those sites. (I'm beginning to think some people missed the sarcasm in my earlier posts.)

All good deadpan deserves a downvote?

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#228

Earlier quoted context omitted.

Apparently vox populi. A majority of the U.S. must frequent those sites. (I'm beginning to think some people missed the sarcasm in my earlier posts.)

All good deadpan deserves a downvote?

I think you're right. I should celebrate the downvotes. ;-)

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#229

I did not realize the egg crisis was found to be price fixing operation. As I recall during the whole thing the news was non-stop about how it was related to broad-based inflation, chicken culling for avian flu, etc. Seems like all that was a lie, or at least merely a half-truth.

By the DOJ? Yes - although it's a settlement (5 points) https://news.ycombinator.com/item?id=48734081

Re: The Egg Bandits Made a Thousand Times the Fine They Just Paid for Price Fixing

#230
post #215

Earlier quoted context omitted.

You're dodging my earlier question. Do you think internal investigations are substituting for actual criminal investigations, and if so do you have evidence for it? All you're seemingly saying so far is that you don't like internal investigations at all, even if they are done when no criminal investigations would have taken place

I think that internal investigations are acting as a substitute for actual criminal investigations. By definition if the investigations weren't made public I can't know about them, but you can look at someone like Andy Rubin: https://en.wikipedia.org/wiki/Andy_Rubin#Sexual_harassment_a... As far as I'm aware there was never any investigation from real police for him.

>I think that internal investigations are acting as a substitute for actual criminal investigations.

And how does this work? Are prosecutors really like "oh ok, we won't do any investigating of our own then"? If so, who's more to blame, the companies doing the internal investigations, or the prosecutors for falling for it? If the police show up to a residence to investigate a domestic violence report, and then one of spouses answers the door and says everything's fine, should we blame the spouse more or the police for not following up?

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