Tag Archives: Conflict of Interest

Internal Combustion

By Robert C. Koehler

What entitlement! I hit the gas, power off to my destination. No one asks me whether the trip is serious or banal, necessary or foolish, conscious or impulsive. I just go, ripping up the miles as though they were daydreams. The engine purrs. My name is Everyman, and I have the power of gods.

Don’t get me wrong. I’m not addicted or anything. I can get off oil whenever I want to. On the other hand, I may be willing to sacrifice 740,000 acres of pristine boreal forest in Northern Canada — part of one of the largest intact ecosystems left on the planet — along with, oh, 166 million birds, and all the remaining caribou inAlberta, before I do.

Tough call.

Continue reading

Advertisements

First Fed audit reveals $16 trillion in secret loans; conflicts of interest

Fed Audit
By Sen. Bernie Sanders

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study.

“As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”

Continue reading

FDA Approves Nonexistent Product from Nonexistent Company for Human Testing

by Heidi Stevenson 10 January 2011          gaia-health

A sting nailed a company the HHS authorized to oversee human drug trials. The absurdities in the application are belly laugh funny, but in their rush to keep the money coming, they approved it.

The FDA farms out drug and medical device testing. It’s in the hands of the companies hoping to gain approval for their products, but they must first get approval before doing tests on humans. Even here, though, there’s a catch. The FDA doesn’t review the testing plans. That’s done by more for-profit companies, Institutional Review Boards (IRBs). But it gets worse. The IRBs are paid by the companies hoping to gain FDA approval for their products. So, it’s a conflict of interest on top of a conflict of interest.

The First Sting

Congress became suspicious, so they got together with the General Accountability Office (GAO) to set up a sting. They sent out an application for testing of a nonexistent product, Adhesiabloc, by a nonexistent company, Device Med-Systems.

Subtlety is apparently not one of the GAO’s strong suits. Adhesiabloc was described as a gel that would be poured into a patient’s stomach after surgery to collect the bits and pieces left over from the operation. The instructions were to pour more than a liter into the wound.

Continue reading

Ex Monsanto Lawyer Clarence Thomas to Hear Major Monsanto Case

By D. Snodgrass
Celsias

In Monsanto v. Geertson Seed Farms, No. 09-475, the U.S. Supreme Court will hear arguments in a case which could have an enormous effect on the future of the American food industry. This is Monsanto’s third appeal of the case, and if they win a favorable ruling from the high court, a deregulated Monsanto may find itself in position to corner the markets of numerous U.S. crops, and to litigate conventional farmers into oblivion.

Here’s where it gets a bit dicier. Two Supreme Court justices have what appear to be direct conflicts of interest.

Continue reading