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.
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The Anti-Capitalistic Inquisition
- Thread starter PoundTheRock
- Start date
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.
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.Quote from aPismoClam:
Did you read of the study that was done a number of years after the witch hunt and billion-dollar grab that ruined Mr. Milken's career and Drexel Burnham Lambert that concluded that the net dollar amount of damage done by the technical violations of which he was convicted amounted to something less than $250,000? I didn't think so.
Really fraudulent operators do that much damage in a week, if not a day, on a regular basis. Mr. Milken's fault was that he was THE market. Created an entirely new industry that thrives to this day as a result.
Perhaps you should broaden your library shelves a bit yourself.
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.
Quote from PoundTheRock:
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.
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.Quote from 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.
My sentiments exactly. Some people seem to have no problem putting shit into a cone and calling it ice cream.Quote from PuffyGums:
The CEO heroes of the Ayn Rand novels weren't engaged in destroying people's retirements, raiding companies of their cash and accounting fraud.
You might not know that executive PR firms and CEO consultants actually pay free market think tanks to generate stories like this. The formula is simple. For any given executive excess X, simply hammer on Ayn Rand, call it the free market and the dopes will accept it.
Well people are catching on to the game and aren't buying the phony argument any more.
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?!
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?!
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 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?
Wasn't Vioxx approved by the FDA? Should they be sued? Maybe the federal government will have to go out of business.Quote from Covertibility:
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.
Quote from 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?
The workers can find work elsewhere. As for shareholders, Enron, Worldcom, KMart.................
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.
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.