Rep. Porter grills Big Pharma CEO for putting profits before patients
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- čas přidán 4. 10. 2020
- During a recent committee hearing, Congresswoman Katie Porter called out a Big Pharma CEO for spending 3 times as much on stock buybacks than lifesaving research-to the tune of $28,600,000,000.
when the whiteboard comes out they know they are in trouble
Yes i love it
LMAO :>
Indeed. It means: I'm about to school your Ass !!
The white board of truth.
Or any of her other great props! Actually, they should know they're in trouble when they know she's going to question them.
"I wish you would focus on creating value for sick patients, Mr. Bradway--not just your shareholders."
That last line brought tears to my eyes.
SHE IS “F ING” RIGHT!
Amen sister!
While this is good to hear, if the share-holders are not satisfied and pull the plug there would be no drug and nothing to treat. I am not saying that Pharma companies are angles, but please do not paint them with the same brush.
@@sriramvaradarajan4964 They certainly aren't angles, they aren't angels either. They aren't even good. Here's the truth, if shareholders weren't a part of it and they purely had to work off of their profits, they would STILL be making more profit than most companies and they would STILL be able to pay for the executives to have salaries set at MUCH higher than the average american. For profit medical establishments and pharmaceuticals shouldn't exist, it should be a non-profit system meant to focus on low costs and treatment of the sick.
@@sriramvaradarajan4964 To be sure, if shareholders aren't satisfied, it won't be because they feel the drug is ineffective; they'll only be dissatisfied if the profit margin isn't significant. I don't like telling anyone that they shouldn't be allowed to profit from good work; but if that desire to succeed isn't balanced with integrity and ethical responsibility, that train will run over anyone who stands in the way. See czcams.com/video/WiHu4ZVQ9Jw/video.html
Business wasn't always driven by selfishness, and it doesn't need to be, now.
I died laughing 😂 when Ms. Porter said: “I got an empty white board ready to write down your justifications”. Omg, I love this woman! She should run for the US president! She got my vote!!!
She's always entertaining to watch
What about her stance on pedophiles. She's a sicko
She won't shame these jerks, but she's getting the knowledge of them out to the people.
Katie is an Iowa girl, her mom is famous quilter Liz Porter of Fons and Porter.
Amen. If Ms Porter pulls out a white board, and you're not playing Pictionary...just say "I did it (whatever), and I'm sorry. Can I go home now, please?"
I love how this woman makes people squirm. She is so polite and courteous, then just hits them hard!
This lady is ONE OF A KIND!!!! Only if we could DUPLICATE HER FOR EVERY STATE, WE WOULDN'T BE IN THE MESS WE'RE IN NOW,!!!!! WITH ALL THIS GREED!!!!!
Facts 👏🏾👏🏾👏🏾👏🏾
I love watching her at work,queen of swords.😍
She’s a great representative and I wish that she was higher up in the government
Then they go to church and call themselves Christian ahahah
Well, I hear they're investing a LOT of money into cloning research, lol.
'The other guy gets paid paid too much too is not a justification' LOL, I lived.
MS. PORTER. Fierce! Right to the point without mercy!!
She just started writing questions marks... gold pure gold
True LOL!!!
Actually it is a justification. Compensation is dictated by what the market demands. If a you want to acquire the talents of a CEO you end up compensating competitively against similar positions.
@@Stephen981cs it actually is not. ceos, even good ones only contribute 4% value to the company, and it is assumed much of that is luck. people want a "pretty" stockholder (read old confident white dude) more than they want a competent one.
6:07. This lady doesn't take shit from anyone. Love her for standing up for those of us that can't.
I love how she put all those question marks. They really don't have any justification for being paid thousands of dollars an hour.
She NEVER asks a question that she does not already know the answer!
That is smart; and being a teacher! I love this woman.
Yeah. That's the lawyerly thing to do.
That’s the lawyer training. You don’t want a curve ball in the middle of questioning
Watching these whiteboard take downs NEVER gets old.
I've only just discovered them , epically great ....... If she moved to Australia I'd vote for her without even blinking
REFRESHING 🤗
I love this woman!!!!
Always know the answers to the questions is the key.
NEVA!!!!!!!!!!!!!!!
She is so classy, professional, and easy to understand. I love how she makes these guys see their own BS. The facts don’t lie. Thank you for all you do.
ClassLESS you mean.
The thing is, they know what they’re saying is BS. They just want us to think they’re good people. That they’re deserving of their insane compensation and wages. While millions are suffering and dying because of their greed.
She is very, very, smart and has her heart on the right place. I hope she gets all the support she needs to make the changes she wants.
Representative Porter, I personally want to extend my gratitude for your tenacity, professionalism, and unconventional ways of holding those that only concern themselves with profits over people accountable. I absolutely admire your style and have even adopted some of your methods when I host meetings and when I need to take someone to task! 🥰🥰🥰
She's an absolute beast 👏🏾👏🏾👏🏾💯
Me too ! She rocks !!!
I could not have said it better! I think she represents the tenacity of many women all over this country and it’s such a breath of fresh air to see her killing it and with some class.
Is their any others you keep up with regularly? I am really trying to broaden my perspective and see it from others point of view.
She is like a teacher, politican, humanitarian, lawyer, and financial advisor all in one lol I legit love this woman. I'm going to show this videos to my daughters so they can see what a real role model looks like
Ok, my questions, outline your profession and give instances on how you take people to task. Thank you
"I don't have it at hand..."
"That's ok I have it handy."
I love how Rep. Porter always comes so prepared, you can tell she does all her research and fully understands her argument and always comes with a point to make, this is the type of person we need leading us.
If she'd read the annual reports (which she has done, according to the financials she has at hand), she could've gone to the chapter on compensation to see why this man has the income he does. She's now just grilling this man over the fact that other people want to pay him a lot of money, as if he's supposed to have turned it down
@@hendrikusscherphof7348 That's not the point she's making though. She's saying they spent almost triple the amount they spend on research and development on stock buybacks, and triple the amount on lobbying. Meaning, they spend more money making the stockholders richer than they do trying to actually trying to be productive and do more research. She's pointing out the irresponsible asset management, it's really not about how much the top 5 CEO's are paid, she just pointed that out for reference. The 10's of billions of dollars not going to research is what you should be concerned about here.
@@cody9766 Shareholders own the company. They want returns. That's why they have the company. Who is she to tell them how to run their business?
@@hendrikusscherphof7348 They clearly aren't in the business of research, they are in the business of stocks, and to pretend to be more concerned with research is really shady. And she's not telling them how to run their business, she's just explaining how they spend their money.
@@cody9766 What do you mean they're not in the business of research? They spend billions of dollars on it annually! And yes, stock buybacks are broken, but legal, so you can't exactly berate corporations for doing it when it's profitable. And nobody is hiding it either, unless there's systemic problems in their corporate governance system.
And when you tell a firm how to spend their money, you are literally telling them how to do business.
Katie and her boards... she always comes armed with the facts and doesn't shy away from asking the hard questions... government would function so much better, for the people if more were like her.
Katie Porter is awesome! We need a whole lot more people like her!
"The other guy gets paid too much too, is not a justification"
That is a 4th degree burn right there, I love this woman.
You pay people for the value they bring. If you do not pay your greatest talent within the scope of competition you will lose them and fail as a company. Why do young people not understand this logic. You can argue the stock buy back if you wish though but you need to develop an understanding of business first.
@@tkonlyme Young people understand business perfectly fine, that is not the subject here. The main point is that the business "logic" has become debased. Compensations on the top are too high across the board whilst ground level workers can barely make ends meet each month. A ceiling on board member payments would be desirable, and let them experience real life for once in their nonsensical detached from reality "executive" lives.
@@ivobos271 You do not understand business competition as well. Gain a few years in the industry and work your way up.
@@tkonlyme "Gain a few years"? Excuse me, but an ad hominem reply does not befit someone who sees themselves as a senior member of society. I understand competition perfectly well, I merely posited that it has become perverse due to lack of regulation. Competition is good, encouragable even, but there is a need for other incentives than just profits and shares. The few people at the top get an inordinate amount of money for their labour. There is nothing wrong with stating that whilst still believing that the core of the system works as intended. I do not want to "gain a few years" because I know that I am getting shafted, so the business can go screw itself. A good business gets people involved instead of exploites, that is what is missing these days.
This "it is what it is, get over it" attitude helps nobody and will never change anything. Maybe my complacancy will kick in after another 20 years of enduring nonsense that should be addressed.
@@ivobos271 lol you seem mad I bet the people that work for this company love their job you should ask them if they believe they are under valued. Sorry you appear to blame others for your failures hence your outlook.
One of the sad parts in this video is this is not the only company that gets rich off tax payer money that funded research. Even worst, these companies have been raising prices rather than do research so shareholders and top executives get richer. These are the same companies that block the American people from buying these same drugs from other countries at a lesser price by lobbying the US government to make it illegal for Americans to buy it in other countries. They do this knowing many Americans don’t have adequate medical coverage to afford the inflated prices. This is killing people. My thanks goes again to people like Katie Porter. This is a long view fight just to force people to act humanely. Thanks for being a beacon of light and fighting for the everyday person.
She made accusation that tax payers funded research , he responded that it was not (although company that developed enbren was immunex) and she had nothing to refute this. The original research for enbrel by immunex was not tax payer funded, as matter of fact immunix was able to fund the research and clinical trials for enbren only after the market success of some of their other drugs. Amgen bought out immunex in 2001.
I agree if tax payers had funded this research, then she would have something to say about what the company does with the profits. But that did not happen- so has no say in the matter.
Like a lot of politicians, she is grandstanding because she knows most people view highly paid executives as undeserving and greedy and it makes her a ‘champion’ of sorts to common people.
In most people’s eyes executives like him don’t deserve their compensation , but it is not governments role to dictate how corporations conduct business.
If I don’t think jeff bezos deserves to be richest man in the world then I should not use amazon. If I were a blow hard politician I’d get him before Congress and grill him on how much money he has to make him look bad and myself look good. That’s all this lady is doing.
@@jameslasso1690 It's my understanding that, for a lot of drug companies, R&D is a loss/business expense and therefore results in paying much lower taxes, or even a tax refund.
Also she has very limited time, so she can't spend time refuting or arguing every point made.
@@jameslasso1690 Highly paid executives are greedy. He even said he and his other executives had no part in the research or any sort of development, so what do they do all day? Sit around and talk about how much money they can make if they charge this certain amount for this drug? They are vastly overpaid for what they do, or don't do, and that's in just about every large company. The money wasted on their compensation could be reinvested into the customers, especially these drug companies that consumers rely on to not DIE.
@@jameslasso1690 but this isn't the only person doing this. As much as this isn't just about this one person, it is. How many other drugs have they raised the price of just because they felt like it at the expense of people's lives? Also when illness is profitized of course you're going to have people take advantage. When there are no caps on cost you really think billionaires can stop themselves from raising it to make more? The problem is that people put money over saving lives. I'm sorry but people are a priority not half a million for some already rich guy.
America has long put the American people last in its priorities. "Corporations are people" is a real thing.... like no they aren't and they shouldn't be treated as such. If lives depend on your services maybe there should be more regulation so you arent the direct cause of people dying because of your unrelenting greed.
lord of the flys
Without that crucial point she got wrong , her whole point is lost. It is the job of the board of directors to appoint and determine compensation of the executives, it is not up to congress.
No more than if she dragged Lebron James and made him justify why he is worth $89 million annual compensation for throwing a ball into a net. He would rightly reply because that is what “me & lakers negotiated”.
There are legitimate ways to try to mitigate healthcare costs, such as somehow by law limiting term of patents , or have limitations on some kinds of corporate acquisitions that might restrain competition.
But for government to try to dictate salaries, create price controls - that becomes dictatorial and then you will have less Innovation.
As to what is salary of Katie porter or how hard she works ? Irrelevant. I think a cancer researcher or emergency room doctor or nurse are vastly more valuable and work more grueling hours under severe conditions than a basketball player - so should government step in and determine who gets what ?
I could watch a Katie Porter all day, putting people in their places. She’s awesome 👏🏻
Seriously, those who support high medicine price is a MUST revenue and reward for advancing and stimulating new drug R&Ds just for the excuse of the so-called "high risk high input" should see this video word for word. Thank you Katie. - a pharma man with some conscience.
Thank you for reclaiming our democracy - Katie we are with you 100%
President Porter
You never had democracy.
Still hasn’t done anything though?
@@jefferyreis3551 she's trying and i think she's doing a damn good job at it. can you do what she does? do you research all of the things relating to these topics and discussions? i sure as hell don't. perhaps im an ignorant fool, but i trust this woman.
The USA is not a democracy, but a federal republic. Get it right, "democrat".
This woman should run for mayor, governor, senator, speaker , vice president and president at the same time. We need people like her and she'll get all my votes 😂😂
I wish I could vote for her. Alas, I live in the wrong State.
Mine too !
Apparantly you only have 1 vote to give
@@priyanshubaranwal363 1 vote per candidate per TERM. What if they ran again? More than 1 vote
Good people don't run governments you need physcopathic people. War cannot happen theft and disasters with good people Running governments.
The problem with what she has exposed, these employees and shareholders “still” earn these insane salaries and payouts on the fact of the totally broken and economically manipulated medical system, to the detriment of the masses for the rich few. Absolutely appalling
“I have an empty whiteboard ready to take down your justifications.”
Me: *gasp for air*
She shows a very good principle:
"Don't ask a question you don't know the answer to."
This lady is awesome at questioning these people wish we had more like her in States and in the Senate and Congress
"I know it's hard to do math on the fly..."
Whips out numbers on the white board like a BOSS.
I think I'm in love 😍 if more of our representatives were like her, we would be heading in the right direction!
Make her the boss of EVERYTHING!!!!
POWER HOUSE PORTER!!!!!! There is a new super hero in our world of politics.
Thank you so much for your humanity to us people Mrs Porter💯❤️
POWER HOUSE PORTER great nick name😎👍
@@margaretdowney4055 I think so. It suits her. She is an amazing woman and is exactly what this government needs in order to clean up all of the corrupt and heartless billionaires out the taking advantage of the poor people.
He actually seems smarter and better prepared then many others who have been in his place. Probably has someone off screen feeding him the answers unless he really is social distancing and aware of his company.
it looked like he ABSOLUTELY was reading off of something that was being prepared as he was speaking with her
She's the real deal. I love it.
I love how Katie makes the guilty feel very uncomfortable when they have to spew out the truth in front an audience
She just wasted Congress's time and this gentleman's time. All that info can be found in the companies SEC filing. She's a demagogue and a chow hound.
And sad none of them care either.
So his compensation is reflective on how stocks are doing and when he spends 3x the amount on stock BUY BACKS it makes it look like stocks are soaring so he can then get those fatty bonus checks sounds legit
Imagine if she would have been able to have 5 more minutes. I was sensing a good moment building right there to expose him with her practical and honest approach
"The other guy gets paid too much too" lol. This woman is amazing!!!
I notice none of the conservatives that pull the conspiracy stunts and wild accusations to discredit people try to go near this phenomenally patriotic American citizen who is doing us all a terrific service. Can you imagine how throughly she’d mop the floor clean with any half ass attempt to discredit her? She is as enlightening and inspirational as she is sincere and I love it! Thanks
You need some meds
And MUCH MORE than …. utterly brilliant….👏🏼
I'm very conservative but I admire that she goes after these corrupt, greedy ceo's. I've worked for a few big corporate companies and all of them are terrible. But what's funny is almost all of them are liberal.
The main thing I'm noticing about Rep. Porter is how fat she is
@@iowanation1034 Well you certainly told him that was absolutely the bravest thing I ever heard
Katie Porter... She is a TRUE HERO to the people!! 💖
Watching these whiteboard take downs NEVER gets old.
Virtue signaling doesn't make you a hero.
@@NoobMachiavelli “Virtue signaling” is as tired and lame as “woke.” Get some new material.
We need more people like Katie.
I wish we had more
Katie Porter’s in this world
🙏🏽💕
When he said “salary” and she said “compensation” I SCREAMED
@@ExsoLam he tried to give an artificially low number by latching onto a technicality, she caught him and exposed the tactic
@@fangirlfortheages5940 it's not "latching on to a technicality" to answer the question that is asked.
He knew damn well what she meant, and thought he found a loophole in the question.
This is a complicated issue to me. These aren't companies that depend on the taxpayer to keep them operating. Now if this would have been a finance executive from a financial company that required a bailout about a decade ago it would be a different matter. This is just capitalism at work. These people bear the most responsibilities and take home a big sum in return. Instead of complaining about the amount I believe it's more important to hold bad leaders responsible for their stupid mistakes like those that led to the financial crisis.
@@micca903 the issue is one of the successful drugs they sell was tax payer funded, and they bought that company which means the acquired the rights to it.
“ I wish you would focus on creating value for sick patients, not just your shareholders” oof
MEDICARE FOR ALL NOW.
That would require compassion and empathy, 2 things of which sociopaths are incapable. Normal people have to intervene and make them do the morally right thing, or it won't happen.
So true.
When the whiteboard comes out, "it was at this moment, they knew they $*cked up!" lol. I'm loving the way these questioning sessions are conducted in a professional and direct way. Right on.
So happy to have found Rep. Katie Porter. I’m not in her district but I’m impressed and will keep up with her.
Katie you are the Queen of exposing these buffoons for who they really are ! Overpaid, greedy men who
Prioritize money and shareholders above what a pharmaceutical company is supposed to provide. A reasonably priced drug that will help their patients. 🎯👏🏻
I've gotten blood red republicans to watch your videos and now they would happily vote for you for President. Make it happen Katie. The citizens have your back.
She is the first democrat ever to represent California's 45th district, the long standing republican district of Orange County.
Yes she should go for the Presidency 👊🏽🇺🇲💯
Love her!! If only all of Congress were so persistent & adult about their jobs with holding these CEO parasites accountable. 3/4 of Congress are a waste of money.
Gee, no wonder my Enbrel cost me so much all those years ago (I took it from 2006-2012). Thanks for helping all rheumatoid arthritis patients Katie! :)
Katie Porters spirit animal must be a Wolverine because dang that lady is fierce.
Thank You Katie. You are a hero to my whole family
Spirit animal? It's her Patronus....
So what policy has been changed??,
So these people are funded by taxes, get rich, and when poor people can’t afford it, they’re told THEY’RE greedy.
"I don't have time for your bullshit." should be every congressional rep's opening remarks at hearings like this. We need way more Katie Porter's representing us.
Kicking Butt. All in a day's work for Katie P
Thank you,I know you're a single mom. Bless you for taking this risk and this job on for the American people.
Rep. Porter. Is. A. National. Treasure.
She's a fraud. You'll see soon enough. Ask her office her view on Medicare for All and see if you still dig it.
@@J3unG , if you know something...say it. Otherwise we will go by the proof we can see and hear.
@@J3unG source?
Thank you, Rep. Porter! 👍🏻👍🏻👍🏻
I love this woman...when she brings out that white board ..she is about to shut it down...I wish I had a teacher like her all through school
Love that sick burn at the end...
Thank you again Rep . Porter
Please keep going full steam ahead.
They will make a TV program from these clips... they got served! :)
Thank you for looking out for us “little people”.
Representative Parter, I love your approach. You are what a representative should be. Best wishes for you. ❤️👍
Bless Katie and her white board. Even her own party the Dems are scared of her! lol! 😁🤗👍
All the corporatist democrats are scared shitless of her.
I love how she asks questions she knows the answer to 💀
Don’t confuse her answers with a deep understanding of the complexities, or the truth. She is a politician pandering for votes and you are a lemming following her off a cliff.
"I've got an empty whiteboard ready to take down your justifications." Goddamn I love this woman.
Such a shame representatives have such a short amount of time to make a case. Would've loved to see her discredit everything he said line by line.
Love Ms. Porter. You got my vote from So Cal. Go Katie.❤
She said we needed to be said at the end
Katie Porter is ace. number one and a credit to America, pity there are not more like her in government
Who are the majority shareholders who approve the compensation? Mostly already rich people.
I could listen to her all day. Love her no BS approach to these CEOs
There’s no money in being healthy and there’s no money being dead but if you’re in between your worth a lot to someone
Oh how I LOVE this woman, her brainpower, guts, determination, and skill for eviscerating the disturbingly overpaid. Don't mess with Katie Porter!
Why. She is the second-stupidest member of Congress.
Annnd Katie "Whiteboard" Porter lands another knockout punch to a crooked corporate contingency!
Every time I watch the Katie Porter videos Queens another one bites the dust plays in my head
Good on you ms Porter…you’re one of the and most honest…keep up the good work…
Thank you for your service
There go my favorite lady we need more like you in both the house and the senate💪💪👏👏❤
Yesssss😍
I wish she had been able to finish discussing Enbrel which costs my family over a thousand dollars per month!
She knows just what questions to ask! Love it. She is awesome 👌
If she ever talks to me and a white board appears, I'm running away!
She's amazing.
Her last sentence should scare people. But more importantly, it should give us a clear reason for how such establishments in our society should conduct themselves. $124M between 5 people is insane. No wonder we have the most expensive medical treatments.
I wish my compensation DWARFED my wage!
I'm from NORCAL. Katie Porter is from SOCAL, nonetheless she is becoming my fav Rep. She Rocks the Corporate establishment; who care more about ROI than customer service and employees compensation.
You go Girl, I mean good job Congressman Porter.
Thank you for your Service.
thanks for being our watchdog!!
“I wish you would focus on creating value for sick patients,...not just your shareholders”
🤜🏻🎤⏬
Rep. Katie Porter looks like a normal soccer mom... But she's really a total badass.
Looks like a soccer mom but does not look like someone who can understand Mr.Broadways role and responsibilities. Things should be looked at but the main issue almost certainly starts with the government and reps that have a specific agenda that rarely ends up helping anyone. Both sides are equally responsible for the mess we are in.
Katie Porter is my hero, please let me intern for her.
As a nurse, I would give anything to work for her!
As a student, I would like a lecture :)
I could watch Rep. Porter question all day! And when the whiteboard comes out OH BOY! Get the popcorn, it's gunna be good!
Keep up the iconic and important work you straight-up QUEEN!!!
LOVE Katie!! We need a helluva lot more people like her. She is an asset to our country!!
That last comment is why Katie Porter is a national treasure and we need more like her fighting for us.
The best line of this video comes in the last 20 seconds or so...
"I wish you would focus on creating value for sick patients, Mr. Bradway, not just your shareholders"
Love you Katie, keep up the good fight!
I have been watching so many of your videos. THANK YOU FOR NOT TOLERATING THE BULLSHIT!!!!!!! 👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
Keep up the great work and fighting for the people over profits, Katie!!
Thank you so much for making a difference! If every representative was like you, this country would look a whole lot different. You are an inspiration and I admire you greatly! Keep fighting the good fight. 💗
This is how we get to boldly go where no human has gone before. Thank you Rep. Porter. All for One and One for All. Live long and prosper.
Love her powerful strengths. You good girl. Get them all.
When that white board comes out....
Me: I'm out of here 💨💨💨💨💨💨
They should be checked for pee stains when they get up.😯
CRUZY Ferreria lol
@@cruzyferreria1009 😅😅
The fact that Rep Porter is in a position of power gives me hope for the future.
Congress woman Porter is awesome. I wish she would do an audit of our current nation's budget.
We need more of her. When is she running for President.
She is kicking their collective asses.
A large part of his salary is based on making rich people rich and doing little to nothing for the sick b
Thank you Katie Porter for all you do.❤️
Wow I'm glad someone from the government is watching these companies. She's a breath of fresh air in Washington. Thanks your hard work. Smart woman.
I love how he declared that $19bn of the stock buy back was for buying external R&D...
Then declare it explicitly!
Imagine what America could be if the house and senate were full of Katie Porters.