[wallaBBB]

The list of caught ones is immensely longer. It’s a cat and mouse game, it doesn’t really stop. Big pharma spends a lot of money on training the employees on how not to get caught. I worked 5 years in big pharma and it took me almost a year to understand why are the constantly repeating compliance and fair practice trainings. Giving examples how others failed, etc. Those were not there to tell you not to do it, but what to watch out for. And the sale targets and incentives are there to motivate you to cross the lines. I’m just grateful I was not in sales but application training.

Btw how is a government responsible for Theranos? There was never a product there, just promises burning VC money. Wirecard is more a failure of trusted independent auditors (one of the big 4) that failed to do a proper international audit.

[nickff]

The FDA was the regulator for Theranos' products, which were used by customers, and the SEC was the regulator for Theranos' securities.

https://theconversation.com/how-theranos-faulty-blood-tests-...

https://www.sec.gov/litigation/litreleases/lr-24069

Wirecard was actually a much worse regulatory failure in that the regulator attempted to prosecute the reporters which revealed the affair. Not only did the regulator fail to uncover either side of Wirecard's illegal behaviour, they went after the people who did.

https://www.ft.com/content/4ebd9032-d3d1-4a9e-976c-d1235448e...