Article: America's most admired lawbreaker johnson & johnson

Thanks for sharing.

Pharmaceutical companies often pay billions of dollars in fines for damages caused by drugs. They also pay a significant amount of hush money to victims and their families so that the word doesn't get out. We certainly can't have that elderly patient going off that anti-anxiety medication which wasn't proven to be any more effective than the placebo.

From a business standpoint, profits matter more than health, and I can't blame them for wanting to make money. However, it's the biggest racketering industry out there in terms of creating and marketing drugs for non-existent conditions (see statins and cholesterol). More often than not, non-treatment is the best course of action, and it's their job to coerce people into thinking they have a medical issue. They have top tier marketing departments and doctors are the pawns.

The FDA is just as guilty for allowing it to happen, but they are technically another arm of the pharmaceutical industry, and they do receive a majority of funding from the big companies.

You really do have to sell your soul to work for a pharmaceutical company like Johnson&Johnson.

Post Edited (Guardian7) : 9/15/2015 1:14:49 PM (GMT-6)

Funny how they're just like politicians eh!!

the Article said...
“All the big pharmas” have lawsuits, the analyst concluded, sipping an espresso. “It’s just not a big deal.”

Great article. I have been accused of being anti-pharmaceutical as it is without reading stuff like this. Of course it will never change as long as individuals are not prosecuted, nobody goes to jail, and the drug companies just pay a tax-deductible fine that sounds large but is only a small fraction of their yearly profits.

In the Savings and Loan crisis of the late 1980's over 5,000 banksters were indicted and almost a thousand went to jail. Remember Charles Keating? That cleaned up the corruption.

Nowadays after the financial crisis of 2008 not one individual was prosecuted, not one, even though it was many times worse than the S&L banking crisis. The banks paid a tax-deductible fine and moved on, and are actually committing the same offenses over and over.

IMO it is only a matter of time before an even bigger financial crisis hits us. It is not just Obama's Justice Dept at fault, Baby Bush didn't prosecute any banksters either.

Sorry for venting but I blame iPoop . The article he posted here really pissed me off.

Post Edited (IamCurious) : 9/16/2015 1:36:24 PM (GMT-6)

I figured you'd like it IAC.

Part 2 is up there now as well.

The parallels with banking and politics, I find interesting as well. As all are giant systems worth countless billions and therefore ripe for corruption/abuse. Overall, I think pharma and those other systems should be improved. Currently, they're all to big to jail and certainly won't change until the worst offenders are jailed.

I'm generally pro-pharma, but this peaked my interest, especially coming from that wonderful liberal source, huffpost :-p

OT: This week the stock market is starting to crash again.

IamCurious said...

the Article said...
“All the big pharmas” have lawsuits, the analyst concluded, sipping an espresso. “It’s just not a big deal.”

Great article. I have been accused of being anti-pharmaceutical as it is without reading stuff like this. Of course it will never change as long as individuals are not prosecuted, nobody goes to jail, and the drug companies just pay a tax-deductible fine that sounds large but is only a small fraction of their yearly profits.
In the Savings and Loan crisis of the late 1980's over 5,000 banksters were indicted and almost a thousand went to jail. Remember Charles Keating? That cleaned up the corruption.
Nowadays after the financial crisis of 2008 not one individual was prosecuted, not one, even though it was many times worse than the S&L banking crisis. The banks paid a tax-deductible fine and moved on, and are actually committing the same offenses over and over.
IMO it is only a matter of time before an even bigger financial crisis hits us. It is not just Obama's Justice Dept at fault, Baby Bush didn't prosecute any banksters either.
Sorry for venting but I blame iPoop . The article he posted here really pissed me off.

This post made a lot of sense to me and after reading it I seriously considered getting completely out of the stock market. But then I figured with the Federal Reserve Board keeping interest rates near zero percent then that would continue to provide a financial safety net.

Well a couple of weeks ago the Fed ended its policy of zero interest rates. So long safety net. I forgot how much I hate being on financial roller coaster.

Well, one thing is a constant, no matter what the rich continually keep getting richer, and the rest of us can't catch a break :-/