From The Guardian
From Boeing to Monsanto and beyond: this week has revealed the tip of the iceberg of regulatory neglect
Monsanto: The Company that Owns the World's Food Supply
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Why didn't Boeing do it right? Why isn't Facebook protecting user passwords? Why is Phillip Morris allowed to promote vaping? Why hasn't Wells Fargo reformed itself? Why hasn't Monsanto (now owned by Bayer) recalled its Roundup weedkiller?
Answer: corporate greed coupled with inept and corrupt regulators.
These are just a few of the examples in the news these days of corporate harms inflicted on innocent people.
To be sure, some began before the Trump administration. But Trump and his appointees have unambiguously signaled to corporations they can now do as they please.
Boeing wanted to get its 737 Max 8 out quickly because airlines want to pack in more passengers at lower fuel costs (hence the "max"). But neither Boeing -- nor the airlines -- shelled out money to adequately train pilots on the new software made necessary by the new design.
Altria (Phillip Morris) was losing ground on its sales of cigarettes, but the firm has recently found a future in vaping. Because inhaling nicotine in any form poses a health hazard, the FDA commissioner Scott Gottlieb wanted to curb advertising of vaping products to teenagers.
Gottlieb thought he had Altria's agreement, but then the firm bought the vaping company Juul. Its stock has already gained 14% this year. What happened to Gottlieb? He's out at the FDA, after barely a year on the job.
Wells Fargo has publicly apologized for having deceived customers with fake bank accounts, unwarranted fees and unwanted products. Its top executives say they have eliminated the aggressive sales targets that were responsible for the fraud.
But Wells Fargo employees told the New York Times recently that they're still under heavy pressure to squeeze extra money out of customers. Some have witnessed colleagues bending or breaking internal rules to meet ambitious performance goals.