Imagine you’re a politician who received tens of thousands of dollars in recent years from a bank, and hundreds of thousands from a banking industry that wants to do away with new consumer protections. Then that bank is caught opening up millions of fake accounts without authorization. If you’re one of these bank-backed legislators, this huge scandal is apparently an opportunity to take shots at the federal regulator the banking industry has been trying to undermine since its creation. [More]
conflict of interests
Several big pharma companies pledged to more tightly screen the doctors they pay to pimp their drugs to other medical professionals. The news comes after a major ProPublica investigation revealed the pill makers were paying princely sums to some docs with splotchy backgrounds.
Big pharmaceutical companies say they only pick the saintliest docs to be “their boys,” getting paid into the six figures to “teach” fellow doctors about the companies’ latest wunder-pills. But a major investigation into disciplinary action against these docs on the take reveals that some of them have splotchy pasts, from having sex with patients, to criminal convictions, to research misconduct and revoked licenses. The history included:
Several of the doctors who were involved in clinical research trials of a new back injury treatment, Prodisc, were also early investors in the product and had a financial incentive to see it succeed, reports the New York Times. This may have led to its success as a treatment being overstated.