At the hearing, Rep. Elijah Cummings (D-Maryland) opened by saying, “It’s not funny — people are dying” because drug companies “jacked up” prices.
Sure this guy is a massive d-bag but we hardly see how, for all his sanctimony Mr. Cummings is any better. Cummings is one of the reason we have Obamacare. A program which has “jacked up” prices, lowered quality of service and threatens people with being locked in a cage should they elect not to purchase a product that they neither want nor need. And yet we will all be satisfied with the bread and circus of these proceedings against the smarmy CEO’s while behind the scenes economic ignoramuses like the congressman will be scheming to come up with the next round of regulations that will create even more of the drug scarcity that Shkreli exploited in the first place.
This post was last modified on February 6, 2016
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He wasn't on the Hill for anything related to his drug company. The free market worked as alternative drugs to the one he gouged came into the market almost immediately after he raised the price. Still, people like Cummings who grandstand reflexively about things they don't understand and blame free enterprise for Valeant when in fact free enterprise worked perfectly to correct the pricing problem Shkreli created.
I don't know who was a bigger bottom feeder, Shkreli or Cummings....I would love to see both of them in jail.
You have to remember that dipshit criminal Cummings expects these companies to either
A; pay off his party,
or B; produce drugs for free, so he can claim a political victory.
He sure must have been pissed, because his fellow scumbag was basically laughing in his face the whole time.
And that is the man behind the curtain. Politicians make it hard for anyone to compete against this guy and expects that in return he will kick them something back. The results of this system is less innovation, lower quality and higher prices. Yet nobody is grilling Cummings because; well people are stupid.
nobody is grilling Cummings because; it would be racist.
There, I fixed it for you.
Granted, Shkreli is a douche, but since he owns the patent, he can charge whatever he wants. If people don't like it, they can buy something else. When he isn't able to sell his product, then he will have to lower the price. It's called free enterprise.
Unfortunately, Rep Cumshot isn't smart enough to figure that out, and his plan (OBarkyCare) to give away the store, has only done more to hurt the people that need it most, but that doesn't matter when you're a Demonrat.
"When he isn’t able to sell his product, then he will have to lower the price. It’s called free enterprise."
Sad how many people don't understand this.