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The Dendreon Effect: How Felons, Con-men and Wall Street Insiders Manipulate High-tech Stocks Paperback – April 15, 2011
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Top Customer Reviews
Bernie Madoff may have stolen $56 billion from unsuspecting clients, but those responsible for the heinous crimes described by Mitchell contributed to the early painful deaths of tens of thousands of men, many of whom could have been helped if they had had access to Dendreon's revolutionary immunologic treatment, Provenge. The treatment, for those who are not familiar with it, provides a median 4.1-month's life extension, which was the basis for its approval by the FDA in 2010. That means that half of the patients in the pivotal Phase III trial lived longer than 4.1 months. In fact, some have lived 7 or more years longer. The fact is, three years after receiving Provenge, there's a 38% improvement in survival in patients that have received Provenge compared to those patients in the controlled arm (32% of patients in the Provenge arm are alive vs. 23% in the controlled arm). So, the treatment is durable
I bring up these facts so that you will understand why Mitchell is so incensed, not only by the actions of the FDA (or better, the agency's 'inactions') as well as the behind-the-scene actions of certain government employees and highly conflicted (and named) special government employees (i.e., consultants to the FDA serving on advisory committees) to thwart Provenge's approval.
Even though the Provenge Advisory Committee convened on March 29, 2007 RECOMMENDED approval, the FDA sent Dendreon back to the drawing board for more data. The agency could have given Conditional approval to the treatment, thereby making it available while the company collected the additional data.Read more ›
This is not the work of some conspiracy theory nut, as one of the hedge fund toady reviews libels, it is a well documented, detailed, narrative showing that there is nothing too low for the hedge fund criminals to perpetrate, and they will be helped at every point along the way by organizations created with the sole purpose of preventing just such actions. Politicians and monitoring and control organizations acquiescing to every request of super rich filthy criminals, whose every action, if not specifically designed to destroy the U.S. financial system, will most likely result in that end.
Where is the country we used to have, the one that would identify criminals like those identified in the book, take away their trading rites for life, force them to pay back the entire amount of money they stole through their criminal actions (with extremely punitive penalties thrown in as well) and finally lock these thieves up for a substantial portion of the rest of their lives? Big banks controlling the DTCC, convicted criminals like Madoff writing new rules for the SEC to implement that will make stealing all the easier for the privileged few, the SEC deciding to dissolve rules in place for almost a century that protected the individual investor (uptick rule prime example) and then refusing to re-implement them when hedge fund thieves complain.
Agencies such as the SEC and FDA routinely employ personnel with grotesque conflicts of interest. Some of these persons are the same "expert authorities" who provide formal advice and guidance to policy decisions made within the agencies.
One of his examples are well published physicians who in reality are extremely well paid agents of investment groups such as multi-billion dollar hedge funds. Murphy provides ample facts and sources to provide the ammunition needed for a successful investigation and prosecution of many of these individuals and organizations. But, like the SEC investigation of Bernie Madoff ("Bernie is running a clean and above board investment group"), the status quo of systemic corruption provides the greatest financial and political payoffs for those managing the FDA, SEC and indeed throughout our Federal Government.
For anyone interested in studying or simply learning basics of investment, federal governance and human nature, this is unequivocally a must read book!
Most Recent Customer Reviews
Lots of miscellaneous information on Hedge Funds and their shady side. Lots on Mr. Milken and scant references to Dendreon. Read morePublished on May 28, 2013 by J. Breedon
As a scientist and investor, I have followed the Dendreon saga for the past six years. Mark Mitchell's account parallels my own recollections, in so far as they overlap. Read morePublished on January 7, 2012 by Truthseeker