Re:The First Rule of Microsoft Excel: Don’t Tell Anyone You’...
by dahart on Sunday October 07, 2018 @12:28PM
(#18161345)
Neither action was right, but it’s not fair to frame this as the same action in both cases with the only difference being whether the victims were rich or poor.
The price hike was rent seeking, not stealing, it didn’t depend on any lies, and it was legal. Plus, the goal was to get the money from insurance companies, not from patients. The investment fraud required lying, it was stealing, and it was illegal.
The drug price hike may have been justified with lies, I’m not claiming there weren’t any lies, but buying the rights, hiking the price, and getting the money didn’t require any lying, and it was done in full public view.
Steal money from poor people? No problem, just a small fine. Steal money from rich people? Off to jail you go. I'm not saying that what Martin Shkreli did was right, i.e. he did not go to jail for raising the prices on medicine (for which he had good reasons). He went to jail for lying to investors in a sort of Ponzi scheme using new investments to pay off old debts.