The Latest Reason why You can't Trust Corporations

David Octavius · 01-29-2007, 02:31 PM

BBC NEWS - Drug company 'hid' suicide link

Headline: Secret emails reveal that the UK's biggest drug company distorted trial results of an anti-depressant, covering up a link with suicide in teenagers.

The Company is GlaxoSmithKline. This proves, yet again, that nobody nor no company can ever be completely trusted with power or money, this goes for our leaders as well as companies.

Phantom · 01-29-2007, 02:36 PM

I'm sure the company will pay quite a sum for what they did, and that will serve as deterrence for others. The system isn't perfect, but it works things out over time...

JaJae · 01-29-2007, 02:57 PM

Think of all the medications we wouldn't have had we not trusted corporations. In a lot of ways corporations are more trustworthy than government.

Dumpy Dooby · 01-29-2007, 03:11 PM

Originally Posted by JaJae

Think of all the medications we wouldn't have had we not trusted corporations. In a lot of ways corporations are more trustworthy than government.

The private sector is self-correcting. The state sector is only regulated by patriots.

nbiggershaft · 01-29-2007, 03:36 PM

Originally Posted by Dumpy Dooby

The private sector is self-correcting.

In the fairy tale land of libertarian gumdrops and happy rainbows.

JaJae · 01-29-2007, 03:44 PM

Originally Posted by nbiggershaft

In the fairy tale land of libertarian gumdrops and happy rainbows.

The most corrupt entity of the United States is government, not business. The reason for it is that businesses are more self regulatory due to competition.

nbiggershaft · 01-29-2007, 03:45 PM

Originally Posted by JaJae

The most corrupt entity of the United States is government, not business. The reason for it is that businesses are more self regulatory due to competition.

so that makes the private sector 'quickly' self correcting?

(quickly is my term, because it is significant)

Dumpy Dooby · 01-29-2007, 03:46 PM

Originally Posted by nbiggershaft

In the fairy tale land of libertarian gumdrops and happy rainbows.

Give me an example of the private sector not being self-correcting.

I'll bet you that I find some sort of government regulation preventing correction.

x2

JaJae · 01-29-2007, 03:46 PM

Originally Posted by nbiggershaft

so that makes the private sector 'quickly' self correcting?

(quickly is my term, because it is significant)

Nobody said quickly. It's not always, but sometimes is. It's still light-years ahead of government.

JSmythe · 01-29-2007, 03:48 PM

big pharm has a problem. Not the idea of corporations.

Dumpy Dooby · 01-29-2007, 03:51 PM

Originally Posted by nbiggershaft

so that makes the private sector 'quickly' self correcting?

(quickly is my term, because it is significant)

Comparatively speaking, it is very quick. Again, the state is ONLY regulated and corrected by patriots. It tends to take quite a number of fuckups to gather enough patriots to "correct" the problem. Patriots are few and far between even today. I can list far more unregulated problems with the government than you could in the private sector.

Diamond Cross · 01-29-2007, 03:53 PM

Originally Posted by Dumpy Dooby

Give me an example of the private sector not being self-correcting.

I'll bet you that I find some sort of government regulation preventing correction. x2

The corporations fought anti-pollution laws and only complied when they were passed. If they weren't passed they'd still be heavy polluters today.

Cigarette companies refuse to acknowledge how addictive cigarrettes are and how dangerous they are and even lied in front of of congress saying they aren't addictive when all other evidence supports this fact.

They resisted anti-discrimination laws and would still discriminate today.

Just for three examples.

Diamond Cross · 01-29-2007, 03:55 PM

Karen Silkwood is another great example of companies refusing to correct themselves.

Dumpy Dooby · 01-29-2007, 04:13 PM

Originally Posted by Diamond Cross

The corporations fought anti-pollution laws and only complied when they were passed. If they weren't passed they'd still be heavy polluters today.

Cigarette companies refuse to acknowledge how addictive cigarrettes are and how dangerous they are and even lied in front of of congress saying they aren't addictive when all other evidence supports this fact.

They resisted anti-discrimination laws and would still discriminate today.

Just for three examples.

All three of your examples have to do with legalities, not problems in the private sector. That would be like using slavery as an example of businesses not being self-correcting.

Pollution was perfectly legal before the laws were put into place, and those laws apply to the public, not the private sector. The other two are questions of morality, not a necessary problem that affects the general public. Personally, I don't think there should be laws against businesses being discriminatory, nor do I think that the cigarette companies should be regulated by common law; their lies are a civil matter, not a common law matter, which is why they were sued.

Let me guess, next you'll say that McDonald's didn't say how hot their coffee was, and they were sued for it, thereby proving that the state acts faster than the private sector.

Dumpy Dooby · 01-29-2007, 04:18 PM

Originally Posted by Diamond Cross

Karen Silkwood is another great example of companies refusing to correct themselves.

Please, do tell.

David Octavius · 01-29-2007, 04:24 PM

Originally Posted by Dumpy Dooby

All three of your examples have to do with legalities, not problems in the private sector. That would be like using slavery as an example of businesses not being self-correcting.

Pollution was perfectly legal before the laws were put into place, and those laws apply to the public, not the private sector. The other two are questions of morality, not a necessary problem that affects the general public. Personally, I don't think there should be laws against businesses being discriminatory, nor do I think that the cigarette companies should be regulated by common law; their lies is a civil matter, not a common law matter, which is why they were sued.

Let me guess, next you'll say that McDonald's didn't say how hot their coffee was, and they were sued for it, thereby proving that the state acts faster than the private sector.

Wow that is a slippery logic. By saying it wasn't a problem because it wasn't illegal, regardless if the actions hurt someone willfully, then that is the same as saying if murder is legal than its ok to kill someone. Your on your own with that one buddy....

BTW, I think its a false logic to compare business to government, both can do alot of wrong if left to their own devices, it doesn't matter that one may be MORE wrong than the other, but that because they are both wrong sometimes, they both need have at least some accountability.

nbiggershaft · 01-29-2007, 04:55 PM

Originally Posted by Dumpy Dooby

Give me an example of the private sector not being self-correcting.

I'll bet you that I find some sort of government regulation preventing correction. x2

enron and other cases of insider trading

In a case like this, medical that is. Of course the market will correct itself. A couple years later the producer will be bankrupt and no one will be using the drug anymore. Victory for market, big whoopy fucking do though, real life deals with people and not just corps. The market will correct itself, but not before people are bleeding out their asses and the vip's of the producer have inflated their stocks price and dumped it for multi-million (or billion) dollar profits.

JaJae · 01-29-2007, 04:58 PM

Originally Posted by nbiggershaft

enron and other cases of insider trading

Enron is no longer an entity. Market fixed it.

Scrum · 01-29-2007, 05:01 PM

Originally Posted by JaJae

Enron is no longer an entity. Market fixed it.

The market didnt fix it. Law enforcement did.

And tell those lower middle class people who lost all their money how "fixed" it is.

Dumpy Dooby · 01-29-2007, 05:02 PM

Originally Posted by nbiggershaft

enron and other cases of insider trading

In a case like this, medical that is. Of course the market will correct itself. A couple years later the producer will be bankrupt and no one will be using the drug anymore. Victory for market, big whoopy fucking do though, real life deals with people and not just corps. The market will correct itself, but not before people are bleeding out their asses and the vip's of the producer have inflated their stocks price and dumped it for multi-million (or billion) dollar profits.

Enron went down because of regulation within the private sector and civil law. Common law entered during the aftermath.

All of that aside, I was discribing regulation within the sector itself. The public regulates the state, and the private sector regulates itself. Private regulation always occurs before state regulation.