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DiabloViejo
07-02-2012, 08:49 PM
Prescription drug giant GlaxoSmithKline will plead guilty and pay $3 billion in fines arising from the company's illegal promotion of some of its products,failure to report safety data, and false price reporting,the Justice Department announced Monday.

<span style="color: #CC0000">Corporations are people, so shouldn't GlaxoSmithKline serve time in prison? </span>

http://www.usatoday.com/money/industries...rugs/55979616/1 (http://www.usatoday.com/money/industries/health/drugs/story/2012-07-02/glaxosmithkline-pleads-guilty-3B-fine-illicit-promotion-prescription-drugs/55979616/1)

eg8r
07-03-2012, 07:13 AM
Why not, how big of a cell would it need to be to?

eg8r

Gayle in MD
07-03-2012, 07:49 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DiabloViejo</div><div class="ubbcode-body">Prescription drug giant GlaxoSmithKline will plead guilty and pay $3 billion in fines arising from the company's illegal promotion of some of its products,failure to report safety data, and false price reporting,the Justice Department announced Monday.

<span style="color: #CC0000">Corporations are people, so shouldn't GlaxoSmithKline serve time in prison? </span>

http://www.usatoday.com/money/industries...rugs/55979616/1 (http://www.usatoday.com/money/industries/health/drugs/story/2012-07-02/glaxosmithkline-pleads-guilty-3B-fine-illicit-promotion-prescription-drugs/55979616/1) </div></div>

all of the CEO's at the top of that organization should serve time in jail.

Will it happen.

No.

Will the corruption continue to happen then?

Yes.

G.

LWW
07-03-2012, 08:25 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DiabloViejo</div><div class="ubbcode-body">Prescription drug giant GlaxoSmithKline will plead guilty and pay $3 billion in fines arising from the company's illegal promotion of some of its products,failure to report safety data, and false price reporting,the Justice Department announced Monday.

<span style="color: #CC0000">Corporations are people, so shouldn't GlaxoSmithKline serve time in prison? </span>

http://www.usatoday.com/money/industries...rugs/55979616/1 (http://www.usatoday.com/money/industries/health/drugs/story/2012-07-02/glaxosmithkline-pleads-guilty-3B-fine-illicit-promotion-prescription-drugs/55979616/1) </div></div>

From what I have heard, key decision makers may well face that fate.

So long as boards can violate the law with no punishment greater than paying fines that truly belong to shareholders, this type of thing will continue.

Soflasnapper
07-03-2012, 10:04 AM
How about instituting a three strikes and you're out policy for corporate crimes?

How about going back to set terms of charter time, after which the corporation's renewal and/or sunsetting/dissolving, would be predicated upon good corporate citizenship in the meantime (i.e., no such crimes), for what would be in effect a death penalty for the corporation?

How about subjecting corporations to war-time service levies, comparable to the subjection of regular people to induction and service in the military?

Of interest is that the larger financial institutions have been required under regulations to provide a kind of 'living will' for themselves (coming due fairly soon). To lay out ahead of time how they'd be liquidated, if they became insolvent, clarifying the otherwise bewildering array of financial tricks they've used to put liabilities off the balance sheet, etc.

Gayle in MD
07-03-2012, 10:16 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Of interest is that the larger financial institutions have been required under regulations to provide a kind of 'living will' for themselves (coming due fairly soon). To lay out ahead of time how they'd be liquidated, if they became insolvent, clarifying the otherwise bewildering array of financial tricks they've used to put liabilities off the balance sheet, etc. </div></div>

How did this come about? Sounds good.

G.

Soflasnapper
07-03-2012, 11:12 AM
I only heard it recently on Bloomberg Radio, so I don't know how it came to pass.

I'm assuming it was something in Dodd/Frank, as Sarbanes/Oxley has been around too long for this to just be coming out of that one.

Or perhaps it's the yet to be fully embraced (so far as I know) Volcker rule.

Gayle in MD
07-03-2012, 11:15 AM
Yep, I think it was in Dodd Frank...

G.