Uber Capitalist, Martin Shkreli, the Most Hated Man in America, Arrested

The Poster Boy for Corporate Greed

Martin Shkreli, CEO of Turing Pharmaceuticals, who bought the drug, Daraprim and then raised the price from $13.50 to $750. a pill was arrested on December 17 by the FBI on fraud charges having nothing to do with his price gouging with Daraprim. Shkreli seemed to back off on his 5000% increase for a life-saving drug after he received a lot of negative publicity but later said that he wished that he had raised the price of the drug even more. A silent chorus went up all over America, "He's getting what he so richly deserves!" It does seem like Karma, doesn't it? Earlier this month Shkreli talked about his second thoughts at a health care conference sponsored by Forbes. "I probably would have raised the price higher. That's probably what I would have done. I think health care prices are inelastic. I could have raised the price higher and made more profits for my shareholders which is my primary duty. And again no one wants to say it, no one's proud of it, but this is a capitalist society, capitalist system and capitalist rules and my investors expect me to maximize profits, not minimize them or go half or go 70% but to go to 100% of the profit curve ..." So the ultimate solution for this capitalist is maximizing value for his shareholders (and for himself, by the way) and if a few people who can't afford this life-saving drug have to die along the way that's just the cost of dong business, collateral damage, because what's most important is profit maximization. The Ultimate Solution becomes synonymous with Hitler's Final Solution.   [Read more...]

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