Update: A bankruptcy judge on Nov. 18 over the objection of state attorneys general approved Purdue Pharma’s settlement with the DOJ resolving investigations into the OxyContin maker’s role in the opioid epidemic.
After causing a worldwide financial crisis in 2008, the well-heeled Wall Street executives who were responsible went to Florida and the Bahamas.
Not to jail.
The failure of the administration of former President Barack Obama to prosecute the financial titans whose greed triggered the worst economic collapse in a hundred years shook the faith of Americans in the U.S. justice system, contributing to the cynical attitude that justice is for penny ante car thieves but not the rich and powerful.
Is history about to repeat itself?
The U.S. Department of Justice (DOJ) has announced a “global resolution of its criminal and civil investigations” into Purdue Pharma, LP, which spurred an opioid epidemic that wrought utter devastation for years throughout the U.S. The $8.3 billion plea deal must be approved by the bankruptcy court.
The DOJ settlement states that it does not release from criminal liability the Sackler family, which owns Purdue Pharma, or company executives -but the “global resolution” also doesn’t impose criminal liability.
The Sackler family reportedly earned more than $10.7 billion in profits through the sale of Purdue’s addictive opioid painkiller, OxyContin. The company rewarded physicians for oversubscribing the drug, which is blamed for the deaths of an estimated 450,000 Americans since 1999.Continue reading “Has The Dept. Of Justice Learned Nothing Since 2008?”