Comedian commentator Jon Stewart aired a segment about corporate malfeasance on The Daily Show last night and joked about the relative lack of accountability, comparing the Corporation to People but showing how people are punished much more severely. Besides several Wall Street examples, there was Johnson & Johnson.
In one of the largest health care fraud settlements in U.S. history, Johnson & Johnson will pay $2.2 billion to end civil and criminal investigations into kickbacks to pharmacists and the marketing of pharmaceuticals for off-label uses, U.S. Attorney General Eric Holder said on Monday. (Reuters)
You’d think that bribing doctors and pharmacies to prescribe drugs for the elderly, disabled and children, despite known health risks, would justify more severe punishment, especially since the $2.2 billion for the company is less than two weeks of revenue and an acceptable cost of doing business. It’s hardly a deterrent.
So, “is anybody going to jail,” you ask? NO! That, apparently, is the power of extreme wealth.
Segment 1 – About Wall Street
Segment 2 – About Johnson & Johnson