Dow And DuPont: The Largest Criminal Merger In History? – The Ring Of Fire


Never since the Gilded Age of the early
20th century has the board game Monopoly see more like real life than today and
it doesn’t look like the trend of america’s increasing corporatocracy
is going anywhere especially after the announcement last week that two of the
world’s largest seed and chemical companies Dow and DuPont have decided to join forces the merger will create a new company Dow DuPont original which will
be worth a hundred and thirty billion dollars and just how much of the global
market is this new company going to control according to recent estimates
about 40 percent of America’s corn seed and soybean markets and 17 percent of
the global pesticide market Monsanto lookout already groups are decrying the
merger as a terrible mood for the American economy and one which
anti-trust groups are gearing up to resist critics are citing the potential
loss of jobs that the merger will result in as well as an increase in prices for
food and a variety of other agricultural and chemical products used by everyday
Americans opponents also fear that the merger will be a death knell for anti
GMO movements as more and more of the seed industry falls into a few pro GMO
hands so all the merger goes through or does our government still have a shred
of independence from the corporate juggernaut to talk to us about the
merger and its consequences we are joined from Florida by the co-host of
the Ring of Fire Radio show Mike Papantonio welcome Mike thank you so Mike I
gotta ask you have a little bit of history with these companies what do you think led to Down DuPont merging I mean DuPont is over 200 years old Dow over a century old these companies have been through all sorts of economic challenges
what is it about today’s economic climate that would make these two giants
joined together and create this tag team corporate criminals are simply trying to
get better that’s the best way I can put it Dow and DuPont collectively
people realize they’ve been fined or sued more almost more than any company operating in the United States on top of that they control as you point out about
17 percent of the forty percent of the soy and corn production with 17% of all
global pesticides they basically run the food supply for the industrialized world
not just not just the U.S. the entire world this merger is going to give him
unprecedented power over our way life which is going to allow them to get away with even more criminal activity I i have gone head-to-head with them the
first time I was on trial with them the jury came back and hit him for three
hundred million dollars because they had killed so many people in West Virginia I
mean trial with them right now the last time we tried to the very first case was
just a few about a month ago and the jury came back against them again because DuPont had entirely devastated a waterway by taking a toxin that
they knew was toxic this is how criminal this corporation is they took a
toxin they knew was was was toxic they knew would cause cancer and they dumped
it into the Ohio River knowing it was moving into people’s drinking water their documents were very clear that
they understood every aspect of about it and decided to do it anyway so I guess
the quick answer is criminals attract criminals and you have
two criminal corporations that have been crimes ranging from price-fixing tax
evasion environmental destruction OSHA
violations of every kind that you can imagine poisoning entire cities with
their toxic waste that’s just the short list of crimes so it’s the new it is the
new American corporate mentality I guess is the best way to put it it’s pretty
incredible and now I gotta ask you know as these companies grow like this are they
less and less able to be you know reigned in by government or oversight or
citizens like is there gonna be any rules for them as they get this
big is that is a brilliant question it is right in point when we started
hearing too big to fail corporate America look at that as an
invitation you had people like Eric Holder who would not prosecute anybody
dressed up in an Armani suit and so the rest of the Corporation said we’re white collar criminals too the bigger we get the better it’s going to
be for us to less of a target we become and these are people who understand
their targets in the nineteen nineties DuPont was hit with hundreds of lawsuits
after a wave of reports that one of its fungicides was causing widespread
environmental damage and damage to people the company had to
take a product off the market they paid more than five hundred million dollars
in compensation and they were fined a mere 115 million which was almost a
month’s worth of profit for that particular product so your point is
excellent the point is if they can it’s like a school of fish when you see fish
school up they do that so they can look bigger and it’s it’s more difficult to
penetrate that school of fish and the same thing is happening here first of
all you have a Justice Department that is absolutely set on prosecuting every
damn body in the world who smokes we smoked weed but on the other side is
totally unwilling to go after white cropped collar criminals DuPont has has
been responsible for more toxic waste dumping than any company in the nineteen eighties in 1991 DuPont was fined 1.9 million dollars for dumping acids and
toxic solvents into New Jersey and you know how much they saved by merely
paying that 1.9 million dollars they saved billions because they passed the
cleanup costs on to consumers it’s called it’s called externalizing costs
they don’t pay for it they let they let people pay for it by bad health and
having to pay tax money to clean it up DuPont and Dow operate exactly the same way in 2000 DuPont agreed to pay 1.5 million to settle an EPA violation with
a dump more than 23,000 gallons of sulfuric acid into the air in Kentucky
and put people in the hospital but we have a Justice Department that doesn’t
look at a white in this Loretta Lynch is no it was no better by the way everybody
thinks all Loretta Lynn she’s an african-american woman she simply going
to feel our pain no Loretta Lynch comes from this same ilk she comes from
the same corporate entities that do so much harm to people every day in get
away with it by paying a 1.5 million dollar fine that’s very typical today and
your question is right on point I gotta promise you something nobody else in the media is asking that question that you just asked why did they do it the question is why we’re here watching the Hawks my so I got out very quickly last question what is your
are you if you’re a betting man give me the odds what’s the likelihood that this
merger will go through or will anti-trust groups be able to push back i
think is going to be a major push back and I think the chances of that failing
are great I think it is a line in the sand where the activist groups must
succeed otherwise we’re going to be one huge corporate entity North Pole to
South Pole the entire planet is going to be gobbled up the same way it’s pretty
incredible stuff especially when you see these giant corporations join forces arm
in arm and all for the sake of a buck you know like you like you say you know
that puts us the little guy you know at the bottom of the list man I wanna thank you very much for
coming on today the co-host a Ring of Fire Radio Mike Papantonio awesome
awesome analysis as always my friend thanks thanks for the invitation great
show by the way I always thank you my does not like we have a view on because
of your brilliance not just because you say good job all the time but thank you
very much

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