JCC What's Wall Street up to today?

Martin Shkreli was released on $5 million bond today.

http://abcnews.go.com/Health/turing...li-arrested-securities-wire/story?id=35819042

Turing Pharmaceuticals CEO and former hedge fund manager Martin Shkreli, who was heavily criticized for raising the price of a drug used to treat a life-threatening infection by more than 4,000 percent, is facing multiple charges of securities and wire fraud in what federal prosecutors call a “Ponzi scheme” that stretched on for years.

Robert Capers, United States Attorney for the Eastern District of New York, told reporters today that Shkreli allegedly defrauded investors in two hedge funds, MSMB Capital and MSMB Healthcare, and also plundered Retrophin, the biopharmaceutical company he ran as its CEO, in an effort to pay back debts related to the now-defunct hedge funds.

 

this scrilly guy is interesting. he bought this single-copy exclusive wu-tang album that mr. wu-tang auctioned off for like three squillion dillards and then everybody found out it was him that snagged it and they got all upset because he's the drug re-pricer, and then like a day later he's arrested by the fbi. i wanna watch this guy's biopic once it's all over!

 

That's true, I forgot. wasn't it reported that he bought it but didn't bother listening to it?

 

i don't know if he listened to it. he was probably about to put it on when the fbi showed up and snatched it out of his hands.

 

Karma's divine isn't it?

 

it's not karma, dum dum. it's because he's an amazing dude, clearly.

 

the guy is like conor oberst minus music plus ceo plus 100000 x ego

 

Greed. Materialism. Vapidity.

 

| read "great trump".

 

Thanks for the video Punk. I don't think I really believed it was all actually true until I saw that.

 

http://qz.com/610161/pharma-bro-mar...-congress-but-has-plenty-of-snark-on-twitter/

Live Shkreli footage. Featuring an awesome Democratic representative.

 

He's a charmer for sure. On the advice of counsel, I'd garnish the pregnant AIDS mom's wages and have a collection agency leave threatening messages on her answering machine.

 

Gordon Gekko has a poster of that guy on his wall.

 

This is, again, unbelievable.

It all started when Shkreli offered to buy Kanye’s new album for ten million bucks. And then expanded his offer to $15 million!
Which is when he finally got himself a deal with Kanye! Or like, so he thought. Turns out, the “savvy businessman” Martin Shkreli had trusted some random dude on bitcoin who had PROMISED that he worked for Kanye, and he had given DaQuan $15 million dollars, but didn’t actually get the real album at all. Oops.

 

I think he's making it up for attention.

 

Did he also have a roommate that he entrusted money to?

 

Watto's not talking about the most important factor in the next several months:

Negative interest rates.

Basically, we're all screwed.

 

Okay, I'll just throw this out there and look stupid . . . when I Googled "negative interest rates" I got this:

Why would a bank do such a thing? Don't they like it when people hand them money?