Martin Shkreli Quotes
My whole life has been one theme of self-sacrifice for my investors.
Shkreli, Martin. Letter to Judge Kiyo A. Matsumoto. 27 Feb. 2018. Cited in: Riley, Brendan. "Martin Shkreli Pleads for Leniency in Letter to Judge." Associated Press, 28 Feb. 2018.
The result was regulation of the banks and the creation of the SEC to regulate the stock market, However, over the years, the regulations were not able to keep up with the sophisticated development of new forms of investments and financial instruments and the financial industry were able to speculate with other people’s money in ways that FDR and his reformers never imagined. Finally, even the regulation that did exist was weakened by the policies of the George W. Bush administration and the combination brought about the Great Recession of 2008 where the profits from excess speculation were privatized and the losses, socialized with the taxpayer and the American worker bearing the brunt while most of the speculators were bailed out and made more money than ever. The Obama administration tried to reform the situation, but was unable to put an end to the legal speculation with other people’s money or of having institutions that were “too big to fail.”
Martin Shkreli, called "Pharma Bro" by some media, is an American former hedge fund manager and convicted felon. Shkreli is the co-founder of the hedge funds Elea Capital, MSMB Capital Management, and MSMB Healthcare; the co-founder and former chief executive officer (CEO) of the pharmaceutical firms Retrophin and Turing Pharmaceuticals (now Vyera Pharmaceuticals); and the former CEO of start-up software company Gödel Systems, which he founded in August 2016.