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Cory Doctorow

A real DOGE: investigate and prosecute McKinsey for the corruption it enabled in the federal government.

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thebignewsletter.com/p/cutting

But beyond the broad problem of management consultants is the specific king of management consulting itself, McKinsey. Investigating McKinsey would probably bring in a lot more savings. Here’s why. McKinsey is the brain of both the American government AND the American corporate world, so it is likely the ringleader of a lot of bloat and collusion. For example, McKinsey advised both the Food and Drug Administration, and Purdue Pharmaceuticals, on opioids, a clear fusion of corporate and governing power, that killed hundreds of thousands of Americans. That’s not an anomaly.
#doge#corruption#mckinsey
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Cory Doctorow

McKinsey pulls the strings and siphons billions out of the Puerto Rico bankruptcy, ICE kids in cages, Space Force boondoggles and more. The US government pays $3m/year for a fresh-out-of-college McKinsey "consultant."

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thebignewsletter.com/p/cutting

In the first Trump administration, U.S. Immigration and Customs Enforcement not only used McKinsey extensively, it even hired McKinsey to write its own contract. During the bankruptcy of Puerto Rico, the firm helped ensure that the island spent at least $1.5 billion on professional services, aka consultants and lawyers, even as its internal hedge fund owned Puerto Rican bonds. It hasn’t gotten better under Biden. Earlier this year, McKinsey got a sole source contract to work for Space Force. And it sells an extremely expensive service for government; just one recent college graduate working at McKinsey is billed out at around $3 million a year.
#doge#corruption#mckinsey
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Cory Doctorow

McKinsey is behind the majority of illegal mergers, the majority of pharma patent fraud, and the majority of illegal exclusive dealing cases. They keep asthma inhaler prices high, write strategy for ALL THREE Pharmacy Benefit Managers, and all five big defense contractors.

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thebignewsletter.com/p/cutting

And now let’s move to McKinsey’s power over big business. It’s hard to find a big company that McKinsey doesn’t work for. McKinsey keeps its client list secret, but I got documents from bankruptcy filings showing who some of them are. And as it turns out, 68% of companies being sued by Federal enforcers over antitrust violations in the merger, Orange Book fraud, monopolization, or exclusive dealing are McKinsey clients. McKinsey works for the companies keeping the price of inhalers high to consumers (and the government), it works for the big three PBMs, all major big tech giants, and all five major prime defense contractors. It is the key vector for spreading bad business habits across sectors, through private equity firms and Wall Street, and into your neighborhood.
#doge#corruption#mckinsey
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Dave Neary

@pluralistic Have you read "The Big Con" by Mariana Mazzucato and Rosie Collington? It's a deep dive into how management consultants cost us all by charging more money than civil servants to deliver worse outcomes. thriftbooks.com/w/the-big-con-

ThriftBooksThe Big Con: How the Consulting Industry... book by Mariana MazzucatoBuy a cheap copy of The Big Con: How the Consulting Industry... book by Mariana Mazzucato. A vital and timely investigation into the opaque and powerful consulting industry--and what to do about it There is an entrenched relationship between the... Free Shipping on all orders over $15.
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Maggie Maybe

@dneary @pluralistic I didn’t realize until this morning when I was reading about the government shut down that the PMBs can charge Medicaid more than they charge private insurance for the meds, and they get to keep the difference as profit.

So I guess that explains why Medicaid doesn’t cover some medication that isn’t even expensive, it’s probably expensive for #Medicaid to pay for it because the #PMBs can rip them off. And nobody cares because it’s just poor people who are suffering when they are unable to get meds through Medicaid.

And Republicans insist this grift be allowed to continue or they shut down the government. So it is allowed to continue.

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Dave Neary

@pluralistic I'm a big fan - "The Entrepreneurial State" and "The Value of Everything" are important to understanding how we have nationalized risk and privatized profits, and how the evolution of how we measure production to include financial products has corrupted capitalism.

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MidniteMikeWrites

@dneary @pluralistic The Entrepreneurial State is invaluable. We've collectively lost an understanding of "anti-rival" goods (Steve Weber's term) which are essential for future innovation and progress. Meanwhile, vultures get to put their mark on the board like this were a game of Monopoly. And this logic infests market capitalism a system that, left to its own devices would devour itself.

zirk.us/@MidniteMikeWrites/113

zirkusMidniteMikeWrites (@MidniteMikeWrites@zirk.us)@dgfitch@kolektiva.social @KarlSchroeder@mastodon.social “Enclosure” is one of the default modes of capitalism. Capture or otherwise subject some space to the logic of a specific set of private interests so that rent (or profits) can be derived. That's what's behind #enshitification, #DRM creep destroying the #righttorepair, the growth of #arbitration, and the explosion of the "access" and #gigeconomy Only solace is that this is very much so a political project and not the natural state of things. We can fight back.
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ira

@pluralistic True that. The bullshit jobs described by Graeber incarnate.

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