Monday, November 2, 2015

GREEDY GOVERNMENTS?

http://www.aoc.gov/sites/default/files/styles/explore_landing_pages/public/6080137063_3e6c91ee8b_o_1_0.jpg?itok=_kT0tWL9

The figures below should tell you much about governments in general. It's from an article mostly about Valeant and it's largest shareholder, hedge fund guru Bill Ackman. We didn't bother to run the total, you can do that on your own. But it's a fair chunk of change.

When you factor in all the others over the period to banks, big oil, etc., it leaves an important question that seemingly never gets answered: Where does all that money go? We think is goes to another one of those categories, Don't ask, don't tell. The chart is from MarketWatch. You can read the story there.

CompanyTotal Financial Penalties in Billions Number of Settlements External Auditor
GlaxoSmithKline PLC $7.56 20 PwC
Pfizer Inc. $2.96 15 KPMG
Johnson & Johnson $2.33 14 PwC
Merck & Co. Inc. $1.86 27 PwC
Abbott Laboratories $1.82 12 EY
Eli Lilly & Co. $1.71 13 EY
Schering-Plough $1.34 7 PwC
AstraZeneca PLC $0.954 7 PwC
Takeda Pharmaceutical Co. Ltd. $0.875 1 KPMG
Novartis AG $0.793 12 PwC
Bristol Meyers Squibb Co. $0.789 12 Deloitte
Mylan NV $0.707 19 PwC
Data Source: Pharmaceutical Industry Criminal and Civil Penalties:An Update published Sept. 27, 2012, and MarketWatch research. Valeant external auditor is PwC.


http://www.marketwatch.com/story/ackman-says-valeant-regulatory-compliance-no-worse-than-rest-of-pharma-industry-2015-10-30

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