Slog Dec 17, 2015 5:25 PM

Martin Shkreli Bails Out for $5M and Other Reasons to Hate Him

by Shelby R. King

Comments

1
stop feeding into it.
http://boingboing.net/2015/12/17/how-did…
diminished on December 17, 2015 at 6:37 PM · Report this
2
The 1% takes one look at a guy like this and says, "Why yes! I'd love to invest my millions in your scheme!" That's who runs our world.
Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn on December 17, 2015 at 7:16 PM · Report this
3
he only had to put up 500K. 10%. dude bought the wu-tang album for 2 mil, he probably put that up as collateral.
Max Solomon on December 17, 2015 at 7:47 PM · Report this
4
Ugh, what a waste of oxygen.

The perp walk photo is delicious.
Reverse Polarity on December 17, 2015 at 8:30 PM · Report this
6
Innocent until proven guilty. Douchebag all the way until then.
sperifera on December 17, 2015 at 9:28 PM · Report this
7
Thanks, Obama.

(Like, for real, I just know Obama read about this guy and said "Jimmy, put this guy UNDER the jail.")
chaseacross on December 17, 2015 at 9:50 PM · Report this
8
I'll be that the pharmaceutical companies (the ones that only jack prices up 200%) said "This guy's bad news for us publicity-wise", found the dirt on him, and fed it to whatever law enforcement agency that arrested him.
sarah91 on December 17, 2015 at 11:01 PM · Report this
9
@8. Not quite. He cheated people who need medication to be healthy and the markets shrugged. Who cares?

Then he tried to cheat the markets themselves. That's when they cared, and called the feds in to do their bidding.
Some Old Nobodaddy Logged In on December 17, 2015 at 11:10 PM · Report this
10
@9 Reverse that. He cheated the financial markets first.

Then he cheated the pharmaceutical market in order to cover his financial market cheats.

Then he boasted.

Then he got busted.

Flaw in his plan, he boasted.

Good plan except for the boasting part.
Machiavelli was framed on December 17, 2015 at 11:37 PM · Report this
11
His ponzi scheme was successful. At the time of his arrest, he had returned more money to his investors than he received. This has got to be literally the first time that has ever happened.
David Bond Bomb on December 18, 2015 at 12:05 AM · Report this
12
I believe you mean "Worst" person. See, without the quotation marks, it makes it seem like you think he's worse than, say, Assad.
the_ghost_of_mrj on December 18, 2015 at 3:57 AM · Report this
13
@3 It is 15% for a Federal Bail Bond, $750k plus a bail bond company would like 100 percent to 150 percent of collateral for a high profile federal case with a good chance of a flight risk..
ferret on December 18, 2015 at 7:00 AM · Report this
14
@13: good to know.
Max Solomon on December 18, 2015 at 7:57 AM · Report this
15
@11 That is a no. Martin Shkreli basically robbed Peter to pay Paul. He didn't make money, actually he made big trades and threw everything down, only to see he shorted when the stock option rose, like the obesity drug company in La Jolla. He did many things to distort the reality that he was kind of incompetent.

He was doing more of a three card monte, besides trying to backdate orders to hide his losses..
ferret on December 18, 2015 at 9:04 AM · Report this
16
@7-10: My guess is it was a case of "wow, this guy's a douche, let's take a closer look at the allegations made by the company that fired him a few years ago". But who made that call? I dunno.
venomlash on December 18, 2015 at 2:25 PM · Report this
17
Loathesome as he is, Shkreli is simply responding to market incentives provided by scumbags in Congress who serve their Big Pharma campaign contributors by passing legislation to prop up generic drug prices to the max.

https://theintercept.com/2015/11/05/chaf…
Mud Baby on December 18, 2015 at 10:40 PM · Report this