Boom Bust Season 2 Episode 314 Pharma Fraud: Feds Arrest Martin Shkreli for Securities Racket

In this episode of Boom Bust, the hosts discuss the arrest of Martin Shkreli for securities racketeering and the implications for the pharmaceutical industry as a whole. Shkreli, a former CEO of Turing Pharmaceuticals, gained notoriety in 2015 for dramatically raising the price of Daraprim, a life-saving drug used by HIV patients, from $13.50 to $750 per pill.

The hosts delve into the charges against Shkreli, which include defrauding investors in his hedge funds and manipulating the stock price of Retrophin, another pharmaceutical company he founded. They also discuss the impact of Shkreli's case on the wider pharmaceutical industry, especially considering that drug prices have been a controversial topic in the United States for years.

The hosts interview several guests, including investment analyst Chris Martenson and legal expert Mollye Barrows. Martenson argues that Shkreli's actions are indicative of a larger problem in the financial industry, where companies prioritize short-term profit over long-term sustainability. Barrows expands on the legal implications of Shkreli's case, including the possibility that he could face up to 20 years in prison if he is convicted.

The hosts also explore the potential impact of Shkreli's arrest on investor confidence in the pharmaceutical industry, as well as the broader implications for drug pricing. Some analysts argue that Shkreli's actions illustrate the need for greater regulation and oversight of pharmaceutical companies, while others suggest that the industry is already heavily regulated and that Shkreli's case is an outlier.

Throughout the episode, the hosts provide their own analysis and commentary on the case, as well as the broader issues it raises. They discuss the role of greed and corruption in the pharmaceutical industry, as well as the impact of drug pricing on patient access to healthcare. Overall, the episode offers a comprehensive overview of Shkreli's arrest and its wider implications for the pharmaceutical industry and the financial industry more broadly.