Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

FakeNoose

FakeNoose's Journal
FakeNoose's Journal
August 30, 2019

Where did the Sacklers move cash from Purdue Pharma?



Pittsburgh Post-Gazette (from Associated Press) 8/30/19
(link) https://www.post-gazette.com/news/crime-courts/2019/08/30/Sacklers-Purdue-Pharma-opioids-drug-maker-money-settlements/stories/201908300129

Ninety minutes outside London, a turn down a narrow lane leads past fields of grazing cattle to a sign warning “Private Keep Off.” Around an elbow bend, a great stone manor, its formal gardens and tennis court hidden behind thick hedges, commands a 5,000-acre estate.

The estate is a pastoral prize — proof of the great wealth belonging to the family accused of playing a key role in triggering the U.S. opioid epidemic. But there’s little evidence of that connection. On paper, the land is owned by a handful of companies, most based in distant Bermuda, all controlled by an offshore trust.

The haziness surrounding the estate hints at one of the challenges for government lawyers as they eye a potential settlement with Purdue Pharma L.P. and its owners, the Sackler family, for their alleged role in flooding communities with prescription painkillers.

All but two U.S. states and 2,000 local governments have taken legal action against Purdue, other drugmakers and distributors. Sixteen states have sued family members by name, alleging they steered Purdue while draining more than $4 billion from the company since 2007. That’s when the Oxycontin maker pleaded guilty to misleading doctors, patients and regulators about the drug’s risks.

Purdue’s CEO has said the company could file for bankruptcy. And this week, news organizations reported that Purdue, the family and government lawyers are negotiating a possible settlement , valued at $10 billion to $12 billion, that would see the Sacklers give up company ownership and contribute $3 billion of their own money.

But where, exactly, did the money withdrawn from Purdue over the years end up? And how much might the family be holding that state and local governments should consider fair game?

Answers are complicated by the way the Sacklers have shielded their wealth in a web of companies and trusts, a review by The Associated Press has found. Some are registered in offshore tax havens far from Purdue’s Connecticut headquarters.

- snip -


Much more at link - it's quite eye-popping how wealthy the Sackler family is.


August 26, 2019

Bernie Sanders picks up union endorsement during stop in Pittsburgh



Pittsburgh Post-Gazette 8/26/19
(link) https://www.post-gazette.com/news/politics-nation/2019/08/26/Bernie-Sanders-pittsburgh-union-endorsement-united-electrical-radio-machine-workers-of-america/stories/201908260105

Vermont Sen. and 2020 Democratic presidential candidate Bernie Sanders picked up the endorsement of the Pittsburgh-based United Electrical, Radio and Machine Workers of America on Monday, moments after calling for the working class to rise up and “tell the corporate elite that this country belongs to all of us” at the union’s annual convention Downtown.

Mr. Sanders, speaking to a few hundred union members at the Wyndham Grand Hotel, compared the union’s message to that of his own presidential campaign, saying that the U.S. cannot continue to be a nation in which there’s a “huge gap between the very rich and everybody else.”

“If there is going to be class struggle in the United States, it’s time that the working class got on the offensive and won that struggle,” Mr. Sanders said in an animated speech.

The UE, which represents about 35,000 workers in a variety of manufacturing and service-sector jobs, said they endorsed Mr. Sanders because of his consistent involvement in the union’s strikes and workplace actions.


- more at link -

Not a long article, but it got on the front page of today's paper.


Profile Information

Name: Kathy Hinsman
Gender: Female
Hometown: Pittsburgh PA
Home country: USA
Current location: Pittsburgh
Member since: Sat Feb 18, 2017, 02:16 PM
Number of posts: 32,634

About FakeNoose

Hey DU friends! Baby boomer here. I became a voter in 1972 when I turned 21, and I've been voting regularly ever since. For a long time I remained independent - always voting for Dem candidates. However that changed in 2008 when I wanted to vote for Hillary Clinton for President. But I live in Pennsylvania where we have closed elections, and my only chance to vote for Hillary was in the Dem primary. So I joined the Democratic Party in 2008, voted for Hillary, and I've never looked back. Barack Obama won the primary in Pennsylvania, as ell as most other states, and I supported him in the general election. It was a different story in 2016 .... You'll never convince me that Chump didn't CHEAT his way into the White House. The worst 4 years in the history of our country ensued, 2017 to 2020, and the first few days of 2021. We all lived through it and i don't need to explain it now. My goal is to make sure that Chump NEVER gets elected to ANYTHING again. Not even Dogcatcher of West Palm Beach FL. Whether he goes to prison is not up to me - but he must be CONVICTED of his crimes and PREVENTED from running for office again. Better yet - he should be in prison or six-feet-under. You get me? I love the cooperation, optimism and can-do spirit of Democratic Underground. We're a community of liberal-minded Americans and we know how to share our stories constructively and pro-actively. Let's all pitch in and get this job done. There has never been a more important election that right now, this year. Democrats everywhere MUST WIN. Joe Biden must win FOUR MORE YEARS!
Latest Discussions»FakeNoose's Journal