While the world is aware of Hillary Clinton’s email scandal as well as financial scam during her tenure as the Secretary of State as well as series of scandals centering Clinton Foundation, now another bone-chilling information has surfaced centering Chelsea Clinton, the only daughter of the Clintons for her direct involvement in opioid scandal that had killed more than 400,000 Americans, while the Biden-Harris administration is under direct influence of Bill and Hillary Clinton as well as Barack Obama to help Chelsea Clinton’s McKinsey & Company from facing further legal consequences and public wrath.
According to media reports, Chelsea Clinton has amassed a net worth of US$ 30 million. The most important fact is, majority of her earning comes from a consulting firm named McKinsey & Company and on the boards of companies such as IAC, where she is a stockholder as well. Yes, Chelsea is connected to a company which is responsible for the murder of thousands of Americans.
In February this year, McKinsey and Co. agreed to pay US$574 million dollars to US authorities as part of a settlement for its role in the opioid crisis, which has killed hundreds of thousands of Americans.
According to media reports, the global consultancy giant has worked with pharmaceutical companies such as Purdue Pharma, which made billions from pushing its OxyContin painkiller on the market.
Prosecutors found that McKinsey advised its pharma clients on how to aggressively sell the addictive drugs. In some cases, it suggested that the opioid be marketed through doctors who were more likely to prescribe them.
“They have never paid such a large penalty. Few firms have ever paid this large a penalty, for anything. As for scrutiny, McKinsey is clearly facing more than it used to,” Duff McDonald, author of The Firm: The Story of McKinsey and Its Secret Influence on American Business, told TRT World.
McKinsey, which prides itself on having a long history of helping companies emerge out of crises, has been the subject of multiple controversies in recent years.
According to NBC news, McKinsey & Co., the global consulting giant, agreed to pay hundreds of millions of dollars in February 2021 to settle allegations by 49 states that its work for large opioid manufacturers helped turbocharge sales of the drugs, contributing to an addiction epidemic that rocked the country and has caused more than 400,000 deaths.
The settlement is a black eye for the firm, which holds itself out as the preeminent global consultant advising corporations and governments. But because most of the money to be paid by McKinsey will go to state programs funding addiction treatment centers and recovery services, the deal may allow a McKinsey hedge fund affiliate to generate investment gains, an NBC News investigation has found. That’s because the firm’s wholly owned hedge fund affiliate, called MIO Partners, holds indirect stakes in addiction treatment centers and a maker of overdose treatment products.
In addition, investment records show, during the years McKinsey was helping opioid makers propel sales of the drugs, MIO Partners held stakes in companies that profited from increased usage.
The MIO investment records don’t provide enough detail to determine how much it has made or stands to make from opioid-related investments. But they show that MIO, which is run on behalf of current and former McKinsey employees, invested in companies that benefited during the rise of the opioid crisis and now holds stakes in companies that could profit from remediation efforts in the aftermath.
Chelsea Clinton’s company destroyed the middle-class
In a report dated February 2020, The Atlantic said:
When Pete Buttigieg accepted a position at the management consultancy McKinsey & Company, he already had sterling credentials: high-school valedictorian, a bachelor’s degree from Harvard, a Rhodes Scholarship. He could have taken any number of jobs and, moreover, had no obvious interest in business. Nevertheless, he joined the firm.
This move was predictable, not eccentric: The top graduates of elite colleges typically pass through McKinsey or a similar firm before settling into their adult career. But the conventional nature of the career path makes it more, not less, worthy of examination. How did this come to pass? And what consequences has the rise of management consulting had for the organization of American business and the lives of American workers?
The answers to these questions put management consultants at the epicenter of economic inequality and the destruction of the American middle class. The answers also explain why the Democratic Party’s left wing is so suspicious of the nice and obviously impressive young man who wishes to be president
Management consultants advise managers on how to run companies; McKinsey alone serves management at 90 of the world’s 100 largest corporations. Managers do not produce goods or deliver services. Instead, they plan what goods and services a company will provide, and they coordinate the production workers who make the output. Because complex goods and services require much planning and coordination, management (even though it is only indirectly productive) adds a great deal of value. And managers as a class capture much of this value as pay. This makes the question of who gets to be a manager extremely consequential.
In the middle of the last century, management saturated American corporations. Every worker, from the CEO down to production personnel, served partly as a manager, participating in planning and coordination along an unbroken continuum in which each job closely resembled its nearest neighbor. Elaborately layered middle managers—or “organization men”—coordinated production among long-term employees. In turn, companies taught workers the skills they needed to rise up the ranks. At IBM, for example, a 40-year worker might spend more than four years, or 10 percent, of his work life in fully paid, IBM-provided training.
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