Did you notice GlaxoSmithKline’s $3 Billion Fraud Penalty?

Actually a MUCH bigger story than Barclay’s LIBOR fixing scam, yet I haven’t heard a single discussion of it on the beeb and have only spotted a couple of mainstream media covering it.

This New York Times story will fill you in.

In short, I believe it’s the biggest criminal fraud settlement in US (and, I think, global) history. Ten times bigger than the Barclay’s fine and publicly described as criminal (whereas there is an ongoing debate about whether what the banks got up to was also criminal)

In the past 24 hours, we’ve seen the 3 top executives of Barclays walking the plank. Not a peep from GSK or its shareholders. Obviously they consider such fines merely the cost of doing business. It hardly affects the bottom line, so the dividends will be safe.

You’d think, given the hours and acres of coverage being heaped on the banks’ story, we might here a minute or two about the British arm of Big Pharma, the biggest organised crime syndicate the world has ever known.

Don’t hold your breath…

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About Harry Stottle
Refugee from the Stumbleupon Blogicide of October 2011 Here you will find my "kneejerk" responses to the world and what I happen to bump into. For my more detailed considerations and proposals, please visit my website or my previous main blogging site.

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