By Robert A. Vella
President Obama, though not the progressive reformer many had hoped he would be in 2008, is still using his administration to curb some of the excesses of corporate behavior.
From Daily Kos – White House moves to limit corporate tax inversions:
As promised, Treasury Secretary Jack Lew announced Monday that the Obama administration is going to use its regulatory authority to crack down on corporate inversions, the strategy corporations have used to avoid paying taxes by buying up foreign companies and relocating their headquarters overseas. The most recent example is Burger King, which bought Canadian coffee purveyor Tim Horton’s. The new regulations are intended to both make existing inversions less lucrative and to make future inversions more difficult.
You can file this under “Finally!”
For the first time since the U.S. Supreme Court ruled last year that so-called pay-to-delay deals may be subject to greater antitrust scrutiny, the U.S. Federal Trade Commission has filed a lawsuit charging drug makers with violating anti-trust laws and hurting consumers in their collective pocketbooks.
“Pay to delay” deals are where big pharmaceutical companies pay money to generic-drug manufacturers to delay producing said generic drug. This allows the brand-name company to continue to reap high-priced medication profits, sans competition, long after their patent has expired. That’s clearly illegal, right?