Capitalism gone wrong: how big pharma created America's opioid carnage

A web of firms ramped up narcotic painkiller sales, creating the biggest drug epidemic in American history as profits surged. read more »

How McKinsey consultants helped push opioid sales

The big picture: Purdue Pharma and Johnson & Johnson both hired McKinsey to boost opioid sales. McKinsey hasn't been charged or sued for any role in the crisis, but details about the company's involvement have nevertheless crept out through testimony and court filings.

Why it matters: One constant, in every lawsuit and criminal case, is that drugmakers were laser-focused on sales above all else — sometimes illegally, but sometimes just by treating the drugs like any other corporate sales project. read more »

Bernie Madoff Asks Trump to Reduce His 150-Year Prison Sentence

Bernard Madoff asked President Donald Trump to shorten his 150-year prison sentence, effectively seeking to finish his life in freedom after running the biggest Ponzi scheme in U.S. history.

Madoff, 81, filed the request with the Justice Department, whose website lists no filing date. He is asking for a reduced sentence rather than a pardon.

Having cost investors some $20 billion in lost principal -- and many their life savings -- Madoff is dreaming, said Rachel Barkow, faculty director at New York University’s Center on the Administration of Criminal Law. read more »

Boeing says it could halt production of 737 Max after grounding

The company lost $2.9bn in the three months to the end of June, compared to a profit of $2.2bn for the same period last year

The company lost $2.9bn in the three months to the end of June, compared to a profit of $2.2bn for the same period last year. Sales fell 35% to $15.8bn. Chief executive Dennis Muilenburg said production of the plane could be slowed or halted if regulators do not move to lift the ban on the plane. read more »