Regeneron hit with federal whistleblower lawsuit

A former manager at Regeneron Pharmaceuticals has filed a federal whistleblower lawsuit against the drug giant, claiming he was fired for raising questions about a lack of manufacturing standards.

Stanley Koshy said in a complaint unsealed last week that he was terminated because he expressed concern over the manufacturing practices and lack of quality controls at the plant and at companies contracted to manufacture drugs for Regeneron. read more »

Owner of Miami Home Health Agency Sentenced to More Than Nine Years in Prison for Role in $15 Million Medicare Fraud Conspiracy

The owner and operator of a defunct Miami, Florida home health agency was sentenced to 115 months in prison today for his role in a $15 million conspiracy to defraud the Medicare program. read more »

Iberiabank to pay U.S. $11.69 million over mortgage guarantee claims

Iberiabank Corp and two subsidiaries agreed to pay $11.69 million to resolve allegations they submitted false claims for federal loan guarantees on mortgages, the U.S. Justice Department said on Friday. read more »

Crypto through the tulips - Putting a price on Bitcoin

A wide spread of prices is a sign of a malfunctioning market

SCENE: A pet shop with a bored looking proprietor. A customer approaches

CUSTOMER: I’d like to buy a parrot.

OWNER: Certainly, sir. How about this one? It’s a Norwegian Blue. Beautiful plumage.

CUSTOMER: It’s not moving much

OWNER: It is tired and shagged out after a long squawk

CUSTOMER: Fair enough. How much is it?

OWNER: $20,000

CUSTOMER: I’ll pay with this Bitcoin

OWNER: Sorry, sir. On WavesDEX, the Bitcoin is only worth $13,500

CUSTOMER: But on LocalBitcoins, it is over $21,500! Look at the news headlines.

OWNER: Sorry, sir, but I can’t afford the risk. My rent, heat and light are all payable in dollars.

CUSTOMER: But the dollar has ceased to be, it has shuffled off this mortal coil, it is an ex-currency

OWNER: So you say, sir. But at least it's a reliable means of exchange. It doesn’t move much from minute to minute

CUSTOMER: Like this parrot

If ever Bitcoin were widely adopted as a trading currency, this scene would be played out in pet shops and department stores around the land. It seems that every day, Bitcoin seems to hit a new high. But the reported price can move up and down by $1,000 or so within a few hours. This might have made it a great investment for those who got in at the right price and are nimble enough to get out in time. But it doesn't make it a useful means of exchange. When the price is rising fast, those who use bitcoin will be reluctant to part with it; when the price falls, those who sell goods will be reluctant to accept it. read more »