>> Braude: TONIGHT ON "GREATER BOSTON:" WHILE REVENUE SANK AND WORKERS WERE LOSING THEIR JOBS THROUGHOUT THE PANDEMIC, LAST YEAR, C.E.O.

PAYCHECKS SURGED IN NEW ENGLAND.

THAT'S ACCORDING TO A RECENT COLUMN FROM THE "BOSTON GLOBE'S" SHIRLEY LEUNG.

SHE JOINS ME, ALONG WITH BOB POZEN, A SENIOR LECTURER AT M.I.T.

's SLOAN SCHOOL OF MANAGEMENT, WHO MAY JUST HAVE AN ANTIDOTE.

THEN LATER, PATRICK RADDEN KEEFE ON HIS NEW BOOK ABOUT THE MAKERS OF A DRUG THAT'S KILLED THOUSANDS, "OXYCONTIN, EMPIRE OF PAIN: THE SECRET HISTORY OF THE SACKLER DYNASTY."

AND FINALLY, REMEMBERING SOME OF THE MANY WE'VE LOST TO COVID.

♪ ♪ ♪ ♪ ♪ >> Braude: FOR DECADES, THE WAGE GAP BETWEEN C.E.O.s AND THEIR AVERAGE WORKER HAS BEEN GROWING FURTHER AND FURTHER APART.

FROM A FACTOR OF 31-TO-1 IN 1978, TO MORE THAN TEN TIMES THAT IN 2019.

AND IN THAT PERIOD, WHILE THE WORKERS HAVE SEEN A PALTRY 14% GROWTH IN PAY, GET THIS, THEIR TOP BOSS HAS GOTTEN A RAISE MORE THAN 80 TIMES HIGHER, UPWARDS OF 1,100%.

IT'S A TREND THAT'S ONLY GOTTEN WORSE DURING THE PANDEMIC-- INCLUDING HERE IN NEW ENGLAND.

SO WRITES SHIRLEY LEUNG IN THE "BOSTON GLOBE."

SHE'S ALSO A GBH CONTRIBUTOR, AND SHE JOINS ME NOW, ALONG WITH ROBERT POZEN, A SENIOR LECTURER AT M.I.T.

's SLOAN SCHOOL OF MANAGEMENT, A SENIOR FELLOW AT THE BROOKINGS INSTITUTE, AND THE AUTHOR OF THE NEW BOOK, "REMOTE, INC.: HOW TO THRIVE AT WORK., WHEREVER YOU ARE."

WHEREVER YOU TWO ARE, THANKS SO MUCH FOR JOINING ME.

I APPRECIATE IT.

>> THANKS FOR HAVING US.

JRD SHIRLEY IN A PRETTY BAD YEAR FOR CORPORATE BOTTOM LINES AND AN EQUAL BUT WORSE BOTTOM LINE FOR WORKERS, MANY OF WHOM WERE LAID OFF WHAT WAS THE TREND IN CEO PAY IN LARGE PUBLIC COMPANIES HERE IN NEW ENGLAND?

>> HERE IN NEW ENGLAND WE INVITED EQUILAR A DATA FIRM TO DO AN ANALYSIS FOR US OF ABOUT 40 COMPANIES AND THEY FOUND THAT THE MEDIAN CEO PAY GREW OVER 21%.

I THINK YOU HAD 21.4% AT A TIME WHEN THE MEDIAN REVENUE FELL 2.4%.

SO IT WAS A PRETTY STARTLING FINDING.

I THINK NATIONALLY, YOU FOUND OVERALL MEDIAN PAY FALLING.

>> Braude: YOU KNOW SHIRLEY STAYING WITH YOU FOR A SECOND, YOU SAID SOMEONE YOU HAD WRITTEN ABOUT BEFORE LAIR CULP THE HEAD OF G.E.

IS THE POSTER BOY FOR THAT, WHY DID YOU PICK HIM?

>> HE HAD TO LAY OFF THOUSANDS OF EMPLOYEES AND G.E.

HAD A TOUGH YEAR.

REMEMBER G.E.

MAKES JET ENGINES SO THE PANDEMIC MANY, AFFECTED THAT.

HIS NEW PACKAGE IS VALUED AT $73 MILLION NOW.

OF COURSE HE HAS TO REACH CERTAIN TARGETS THAT MEETS IN THE FUTURE BUT STILL IT WAS AN EXAMPLE OF HOW IN BAD TIMES CAN YOU DO WELL.

AND HE COULD STAND POTENTIALLY DO BETTER OUT OF 2020.

>> Braude: YOU GOT TO FEED THE FAMILY, SHIRLEY, COME ON!

SO BOB OTHER THAN THE MORAL AMONG US WHO FOUND THIS KIND OF THING ABHORRENT, THIS GROWING DISPARITY, WHY SHOULD WE CARE ABOUT THIS?

>> WELL YOU KNOW, ALL THAT MONEY IS ULTIMATELY COMING OUT OF ITS ELDERS AND AS A FORM FORMER PRESIDENT OF PHI DEALT MANAGEMENT WE AS INSTITUTIONAL SHAREHOLDERS, WE ARE ALL FOR PAY FOR PERFORMANCE.

SO IF THINGS ARE GOING VERY WELL FOR THE COMPANY AND THE CEO'S DOING A GREAT JOB WE HAVE NO PROBLEM PAYING HIM OR HER MORE.

THE PROBLEM COMES, AS WHAT HAPPENS ON THE DOWN SIDE?

WHAT IF THE COMPANY ISN'T DOING WELL?

WHAT IF THE ECONOMY ISN'T DOING WELL?

AND COMPENSATION COMMITTEES ARE NOT VERY GOOD ABOUT LOWERING CEO PAY WHEN THINGS AREN'T SO GOOD.

>> Braude: YOU KNOW WHEN I SAID TO YOU, WHY SHOULD PEOPLE CARE, A LOT OF CEOS BOB, PARDON ME, SHAREHOLDERS DO CARE, SHIRLEY DETAILED A BUNCH OF BUSINESSES INCLUDING SHAREHOLDERS AT G.E.

WHO VOTED DISAPPROVAL FOR THE PAY, THE COMPENSATION PACKAGES.

BUT AS YOU AND SHE POINT OUT, THEY LEGALLY HAVE THE POWER TO DO IT.

BUT IT'S NON-BINDING.

YOU THINK GOVERNMENT SHOULD GO ONE STEP FURTHER AND GIVE SHAREHOLDERS SOME REAL POWER.

>> YEAH, IN WITH SWITZERLANDLAND THEY HAD A REFERENDUM, THE WHOLE POPULATION VOTED TO MAKE THOSE ADVISORY RECOMMENDATIONS BINDING RIGHT FROM THE GET-GO.

BUT MY SUGGESTION IS A LITTLE MORE MODEST.

I'M SAYING IF YOU LOSE AN ADVISORY VOTE ON EXECUTIVE COMP IN YEAR 1 THEN YOU OUGHT TO GET THE MESSAGE.

AND THEN IF YOU LOSE IT TWICE IN A ROW, WELL THEN, THAT COMPENSATION COMMITTEE VOTE OUGHT TO BE BINDING.

AND THE COMMITTEE OUGHT TO REDO THE COMP.

THE WAY IT IS NOW, IT'S AN IMPORTANT SIGNAL AND A SYMBOLIC SIGNAL.

BUT THERE ARE A FEW COMPANIES DON'T GET THE MESSAGE.

ORACLE HAS ACTUALLY HAD THREE ADVISORY VOTES AGAINST THEM IN A ROW AND THEY DON'T SEEM TO CARE VERY MUCH.

>> Braude: THEY MAY NOT HAVE GOTTEN THE MESSAGE BUT SHIRLEY YOU MENTIONED A PRETTY HIGH PROFILE MESSENGER WHO DURING A SPEECH TO CONGRESS AT THE END OF APRIL ACTUALLY TOUCHED ON THIS VERY ISSUE.

HERE IS PRESIDENT BIDEN.

>> LOOK AT THE BIG TAX CUT IN 2017.

IT POURED BILLIONS OF DOLLARS INTO THE POCKETS OF C.E.O.s.

IN FACT, THE PAY GAP BETWEEN C.E.O.s AND THEIR WORKERS IS NOW AMONG THE LARGEST IN HISTORY.

ACCORDING TO ONE STUDY, C.E.O.s MAKE 320 TIMES WHAT THEIR AVERAGE WORKER IN THEIR CORPORATION MAKES.

THE PANDEMIC HAS ONLY MADE THINGS WORSE.

MY FELLOW AMERICANS, TRICKLE-DOWN ECONOMICS HAS NEVER WORKED.

IT'S TIME TO GROW THE ECONOMY FROM THE BOTTOM AND MIDDLE-OUT.

>> Braude: YOU KNOW SHIRLEY MAYBE TRICKLE DOWN ECONOMICS DOESN'T WORK BUT A TRICKLE DOWN MESSAGE, IS THERE ANY REASON TO THINK THAT CEOS OR COMPENSATION COMMITTEES ON BOARDS WILL TAKE THE PRESIDENT'S MESSAGE TO HEART AND CHANGE THEIR WAYS OR IS THIS BACKGROUND NOISE?

>> I DO THINK THERE IS REAL MOMENTUM RIGHT NOW AND IN LARGE PART TO THE PANDEMIC.

I THINK THE PANDEMIC HAS EXPOSED HOW THE INCOME INEQUALITY IN THIS COUNTRY, AND IT'S BEEN COSTLY, IT'S COST JOBS, IT'S COST LIVELIHOODS, I THINK THERE'S REAL CHANGE ON ITS WAY.

BUT IT WILL TAKE TIME.

I MEAN, NOT -- YOU HAVE THE WHITE HOUSE WEIGHING IN, YOU HAVE SHAREHOLDERS WEIGHING IN ON THESE SALE AND PAY VOTES.

YOU HAVE SENATOR BERNIE SANDERS IN CONGRESS, THIS TAX EXCESSIVE CEO PAY ACT THAT'S COMING DOWN THE LINE, THERE IS REAL MOMENTUM.

THOUGH CHANGE AS I POINTED OUT IN MY PIECE IT'S NOT GOING TO HAPPEN OVERNIGHT.

BUT YOU DO FEEL NEW PRESSURE THIS YEAR.

>> Braude: BOB, SPEAKING ABOUT INTARNDLE, HE'S GOT A NEW BILL THAT SHIRM JUST MENTIONED, IF THE RATIO TO CEA AND MEAN EMPLOYEE PAY IS GREATER THAN 50 TO 1 THEY PAY A HIGHER TAX THAN THEY WOULD OTHERWISE PAY.

DOES THIS HAVE A CHANCE IN HELL OF GETTING THROUGH CONGRESS EVEN A DEMOCRATIC CONGRESS?

>> I DON'T THINK IT HAS A CHANCE IN HELL OF GETTING THROUGH AND I'M NOT SURE IT WOULD HAVE THAT EFFECT.

IN THE 1990s WE HIT A SIMILAR BILL SAYING CEO PAY BECOMES ABOVE A CERTAIN AMOUNT, COMPANIES CAN'T DEDUCT THAT EXTRA AMOUNT AND THAT PASSED, THAT BILL AND ALL CORPORATIONS DID IS THEY JUST DIDN'T DEDUCT IT AND IT DIDN'T MAKE THAT BIG A DIFFERENCE.

I THINK THE KEY VEHICLE HERE ARE THE INSTITUTIONAL SHAREHOLDERS.

REMEMBER: INSTITUTIONAL SHAREHOLDERS NOW OWN 60 TO 70% OF THE STOCK OF MOST S &P FIEFD COMPANIES.

NOT JUST ON ADVISORY RESOLUTIONS BUT MAYBE WE'LL VOTE OUT SOME OF THESE COMPENSATION CAN COMMITTEE BOARD MEMBERS AT THE NEXT MEETING IF THEY DON'T GET THE MESSAGE.

THAT WOULD REALLY CHANGE THINGS.

>> Braude: EVEN THOUGH BOB POZEN DOESN'T THINK IT WOULD WORK, THERE ARE SOME LEGISLATORS OBEACON HILL SHIRLEY YOU'RE TALKING ABOUT WHO ARE DOING A VARIATION ON THE SANDERS APPROACH.

WHAT'S HAPPENING THERE?

>> STATE SENATOR JASON LEWIS HAS A VERY SIMILAR BILL TO SANDS, SO DOES ERICA EIDERHOVEN.

THE BUILT ISN'T -- IT'S KIND OF GOING THROUGH BEACON HILL.

I THINK SENATOR LEWIS HAS PROPOSED IT IN YEARS BEFORE AND HASN'T REALLY GONE ANYWHERE BUT AGAIN I THINK THERE'S NEW MOMENTUM.

I DO THINK THAT ANY LEGISLATION IN WASHINGTON IS VERY HARD TO PASS THESE DAYS BUT DO I THINK THE BILL STARTS THE CONVERSATION OF WHAT CAN GOVERNMENT DO TO REIN IN CEO PAY?

>> Braude: BOB YOU'RE A BIG TRANSPARENCY GUY AND SO AM I.

ARE YOU A TRANSPARENCY GUY AS A MATTER OF PRINCIPLE, THE PUBLIC HAS THE RIGHT TO KNOW?

OR DO YOU BUY A INTO THE NOTION THAT IF THE PUBLIC DOES KNOW, THE LIKELIHOOD OF GETTING ACTION SOMEWHERE IN A REGULATORY AGENCY THE CONGRESS OR THOSE INSTITUTIONAL SHAREHOLDERS GOES UP?

WHAT'S THE MOTIVATION?

>> I BELIEVE IN BOTH.

I'M FOR TRANSPARENCY AS A MATTER OF PRINCIPLE AND I ALSO THINK IF WE DON'T HAVE THE RIGHT INFORMATION, THEN THE CHANCES ARE WE'RE DOING SOMETHING AREN'T VERY GOOD.

THAT'S WHY I'VE BEEN WORKING WITH THE COUNCIL OF INSTITUTIONAL INVESTORS TO TRY TO GET THESE COMPENSATION COMMITTEE REPORTS CHANGED, SO THAT WE CAN ACTUALLY UNDERSTAND WHAT THEY SAY.

JUST PICK UP ONE, AND THEY'RE ALL IN EVERY PRIVACY STATEMENT THEY'RE THERE.

THEY'RE VERY HARD TO MAKE HEADS OR TAILS OF.

WE WANT TO KNOW WHY THEY'RE PAYING THE CEOS WHAT THEY ARE AND WHAT IS THEIR DEFINITION OF COMPANY PERFORMANCE AND WHAT'S THE INCH LINKAGE AND IT'S REALLY HARD TO UNDERSTAND NOW.

>> Braude: I FIGURE I'D JUST CALL YOU AND YOU'D EXPLAIN IT BOB.

>> EVEN I STRUGGLE TO THEM.

THEY'RE NOT EASY READING.

>> Braude: WE HAVE A MINUTE LEFT, 30 SECONDS FOR EACH OF YOU.

THE PRIMARY ARGUMENT IS LISTEN YOU MAY HAVE A POINT AT SOME LEVEL BUT WE GOT TO PAY THESE KIND OF SALARIES TO ATTRACT AND RETAIN THIS LEVEL OF TALENT.

QUICKLY STARTING WITH YOU SHIRL WHATSHIRLEY WHAT IS YOUR RESPONSE TO THAT?

>> YOU KNOW, WHAT WE'RE GIVING NOW IS WE'RE CREATING A DYNASTY OF WEALTH.

CEO PAY AT 50 MILLION, 100 MILLION, DO PEOPLE REALLY NEED THAT MUCH MONEY.

I CAN SEE PAYING SOMEONE 5 MILLION, MAYBE 10 MILLION BUT REALLY THESE PAY PACKAGES 50 MILLION, 100 MILLION OR MORE IT'S OUTRAGEOUS.

>> Braude: HOW ABOUT YOU BOB LAST WORD?

>> I THINK THAT MOST CEOS WOULD AGREE IF A COMPANY DOES VERY WELL, THEY SHOULD DO WELL BUT IF THE COMPANY DOESN'T DO WELL THEY SHOULDN'T DO VERY WELL.

THAT'S THE KEY PROBLEM HERE.

AS SHIRLEY SAID THIS WAS A BAD YEAR, BAD YEAR FOR WORKERS, BAD YEAR FOR REVENUE AND WE IN MOST CASES DIDN'T SEE CEO PAY GO DOWN.

CEOS GOT THEMSELVES 20% OF THEIR SALARY.

BUT THEIR SALARY IS A SMALL PORTION OF THEIR TOTAL COMP.

SO I THINK WE REALLY NEED TO MAKE SURE THAT IF THINGS DON'T GO WELL, CEOS PAY GOES DOWN.

AS MUCH AS IT GOES UP IN GOOD TIMES.

IT'S JUST GOT TO BE SYMMETRICAL.

>> Braude: I THINK THAT TOO.

BOB POZEN, SHIRLEY LEUNG THANK YOU VERY MUCH FOR YOUR TIME, APPRECIATE IT.

>> THANK YOU.

>> Braude: NEXT UP, YOU MAY KNOW THE SACKLER NAME AS THE ONE RECENTLY PRIED OFF OF SOME MAJOR INSTITUTIONS AROUND THE WORLD, INCLUDING THE LOUVRE, N.Y.U., AND TUFTS HERE IN BOSTON.

IT BELONGS TO THE MULTI-BILLIONAIRE FAMILY THAT OWNS PURDUE PHARMA, WHO'VE MADE THEIR MONEY MARKETING THE POWERFUL AND HIGHLY ADDICTIVE PAINKILLER, OXYCONTIN, WHICH HAS HELPED FUEL AN OPIOID CRISIS THAT'S KILLED ROUGHLY 500,000 PEOPLE IN THE U.S.

SINCE 1999, AND, AS MY NEXT GUEST HAS WRITTEN, "PRIOR TO THE INTRODUCTION OF OXYCONTIN, AMERICA DID NOT HAVE AN OPIOID CRISIS.

AFTER THE INTRODUCTION OF OXYCONTIN, IT DID."

LAWSUITS ABOUND, INCLUDING FROM MASSACHUSETTS ATTORNEY GENERAL MAURA HEALEY, WHO IS NOW TRYING TO PREVENT THE FAMILY FROM USING BANKRUPTCY TO PROTECT THEIR FORTUNE, AND THE PRIVACY OF THEIR DRUG PEDDLING STRATEGIES.

A NEW BOOK EXPOSES ALL THE DAYLIGHT PCHES IT'S CALLED "EMPIRE OF PAIN: THE SECRET HISTORY OF THE SACKLER DYNASTY."

AUTHOR PATRICK RADDEN KEEFE JOINS ME NOW.

PATRICK CONGRATULATIONS AND WELCOME.

>> THANK YOU.

>> Braude: CAN WE START AT THE END, I'M PRONE TO, HERE IS THE CONCLUSION THAT I REACH.

IT IS A STORY OF AN AMERICAN CRIME FAMILY THAT RECKLESSLY AND THAT MAY BE KIND RECKLESSLY IS RESPONSIBLE FOR THOUSANDS IF NOT TENS OF THOUSANDS OF DEATHS THEN LOOTS THEIR COMPANY AND TRIES TO SACK THEIR MONEY AWAY, BILLIONS AWAY IN SUCH A FASHION THAT NEITHER VICTIMS NOR THE GOVERNMENTS CAN EVER GET ACCESS TO IT.

IS THAT UNFAIR IN ANY REGARD?

>> SEEMS ABOUT RIGHT.

THIS IS ONE OF THE REALLY STRANGE THINGS ABOUT THE END GAME OF THE STORY.

OIMPLE CONTRAWAS RELEASED IN 1996.

THE DRUG HAS GENERATED SOME $35 BILLION SINCE THEN.

AND YOU'VE 23rd HAD TWO FEDERAL GUILTY PLEAS BY THIS COMPANY TO CRIMINAL CHARGES ONCE IN 2007 AND THEN AGAIN IN 2020.

AND IN THE INTERIM WHAT HAPPENED IS THAT THE SACKLER FAMILY WHO OWNED THE COMPANY AND WERE REALLY CALLING THE SHOTS FOR A LONG TIME WERE QUIETLY PULLING MONEY OUT OF THE COMPANY, $.500 MANAGE HERE, 400 MILLION THERE.

WE KNOW THEY TOOK AT LEAST 10 BILLION FROM THE COMPANY AND THIN KICKED IT INTO BANKRUPTCY.

THAT'S WHERE WE ARE TODAY.

>> Braude: THE CRIMINAL CONVICTIONS WERE ONE NOT OF THE SACKLERS THEY WERE OF LOWER LEVEL PEOPLE.

AT LEAST THE EARLIER ONE, I DON'T KNOW THE MORE RECENT ONE HAS HAD ABSOLUTELY NO DETERRENT EFFECT ON THEIR BEHAVIOR CORRECT?

>> CORRECT, IN 2007 THERE WERE THREE EXECUTIVES WHO FACED MISDEMEANOR CHARGES WHICH THEY PLED GUILTY TO, THEY DIDN'T SPEND A DAY IN PRISON.

AT THE TIME IT WAS A $600 MILLION FINE FOR THE COMPANY.

BUT THE COMPANY WAS MAKING BILLIONS OF DOLLARS HERE SELLING OXYCONTIN.

IT IS NOT DETERRENT.

THEY PLED GUILTY TO A WHOLE NEW RAFT OF CRIMINAL CHARGES.

THIS TIME YOU DIDN'T GET MISDEMEANOR CHARGES AGAINST COMPANY CHARGES.

IT WAS THE COMPANY PLED GUILTY TO CRIMINAL CHARGES BUT NO INDIVIDUAL EXECUTIVES WERE DMAIMED.

I SAY IN THE BOOK, IT'S ALMOST LIKE A DRIVERLESS CAR, THE COMPANY IS ACTING AUTONOMOUSLY.

>> Braude: IT IS THE CAN CONTIN IN OXYCONTIN THAT WAS THE GAME-CHANGER.

CAN YOU BRIEFLY EXPLAIN WHAT THAT MEANS?

>> THE REAL INNOVATION THAT THE SACKLER FAMILY HAD, THIS CONTIN FEATURE.

OXYCONTIN IS THE ACTIVE INGREDIENT IN OXYCODONE.

YOU HAVE THIS TIME RELEASE MECHANISM AND THAT IS WHAT WAS REALLY INNOVATIVE ABOUT OXYCONTIN.

>> Braude: EVEN THOUGH OXYCONTIN WAS MORE POWERFUL THAN MORPHINE NOT ONLY DID THE SACKLERS HAVE THE MARKETING DIRECTLY TO THE DOCTORS THEY CHOSE NEVER TO TELL THE DOCTORS THAT THEY WERE WRONG, THAT IN FACT OXYCONTIN WAS MORE POWERFUL AND THUS MORE DANGEROUS THAN MORPHINE, CORRECT?

>> THAT'S RIGHT.

SO YOU HAVE THIS AMAZING MOMENT WITH OXYCONTIN WHERE THEY HAD THE EARLIER DRUG, MORPHINE DRUG WHICH WAS POPULAR WITH THE CANCER MARKET.

WE DON'T WANT TO NICHE THAT FOR PEOPLE WITH CANCER.

THERE IS ONLY SO MUCH OF A MARKET FOR PEOPLE WITH CANCER.

IT IS NOT A NUCLEAR SOLUTION THAT YOU GRADUATE TO WHEN OTHER REMEDIES HAVE FAILED, IT'S THE FIRST COURSE OF TREATMENT FOR ANYONE WHO IS IN PAIN EVEN MODERATE PAIN.

THEY HAD A TAG LINE THEY USED AT THE TIME, WHICH WAS OXYCONTIN WAS THE ONE TO START WITH AND THE ONE TO DAY WITH.

>> Braude: AND ALSO THROUGHOUT THIS WHOLE THING THE BRILLIANCE I THINK EVEN THOUGH I GUESS IT IS PRETTY SIMPLE IS IT IS 79 TO AFFIX OUR NAMES TO INSTITUTIONS THAT PEOPLE LOVE FROM MUSEUMS WE KNOW IT IN THE CITY TO MUSEUMS, TO ACADEMIC INSTITUTIONS, BUT LET'S KEEP OUR NAME OUT OF THAT -- IT'S NOT CALLED SACKLER PHARMA, IT'S PURDUE PHARMA, BUT THAT WAS A CONSCIOUS WAY TO PROCEED WITH THEIR BUSINESS, NO?

>> THAT'S EXACTLY RIGHT.

THE SACKLER MUSEUM AT HARVARD, THE NAME IS PLASTERED ALL OVER BIG INSTITUTIONS HERE LIKE THE METROPOLITAN MUSEUM OF ART.

PART OF WHAT I WAS TRYING TO DO IN THE BOOK IS NOT JUST TELL THE OXYCONTIN STORY IS GO BACK AND LOOK AT MULTIPLE GENERATIONS OF THE SYSTEM.

DATING BACK TO THE EARLY DAYS THEY MAUD THEIR FIRST FORTUNE CREDIT WITH VALIUM.

DOING PHILANTHROPIC GIVING WHERE YOU SEE YOUR NAME ON MUSEUMS AND WHEN I STARTED I WENT TO THE WEBSITE OF PURDUE DPEARM, I SEARCHED AND SEARCHED TO SEE IF I COULD FIND THE SACKLER NAME.

THEY HAD A MANIA FOR PUTTING IT ON BUILDINGS BUT NOT ON THE FAMILY BUSINESS.

>> Braude: I DIDN'T KNOW YOU WERE FROM BOSTON BUT IN ADDITION TO YOUR BOSTON ROOTS, WE HAVE SEEN THE NAMES ON SOME BUILDINGS, MAWR AH HEALEY HAS BEEN PRETTY AGGRESSIVE.

>> OURS IS THE FIRST LAWSUIT IN THE 61 TO NAME THOSE EXECUTIVES PERSONALLY AND TO TELL THE STORY OF HOW THEY CONTRIBUTED TO THIS DEADLY CRISIS.

WE OWE IT TO EVERYONE IN THIS ROOM TO FAMILIES ACROSS THIS STATE, TO HOLD PURDUE AND ITS EXECUTIVES ACCOUNTABLE FOR THEIR ROLE IN CREATING THIS EPIDEMIC.

>> Braude: BUT IF THEY HAVE THEIR WAY IN THIS BANKRUPTCY PROCEEDING THEY WILL GET OUT UNSCATHED.

THEY GET OUT WITH THEIR BILLIONS AND THEIR PERSONAL FORTUNE, AFTER I SAID BEFORE THEY'VE LOOTED THE COMPANY FROM WHICH THEY'VE MADE ALL THEIR MONEY.

SO IT IS IN THE HANDS I GUESS OF BOTH THE ATTORNEYS GENERAL THAT ARE HOLDING OUT LIKE HEAL YIRVETION AND THE BANKRUPTCY JUDGE RIGHT?

>> THERE IS A SITUATION THAT THE SACKLERS HAVE NOT DECLARED BANKRUPTCY THEMSELVES BUT THERE'S A BANKRUPTCY JUDGE THAT WANTS TO SEAL THEM OFF FROM LAWSUITS LIKE STATES LIKE MASSACHUSETTS.

THERE IS A BILL IN CONGRESS CALLED THE SACKLER ACT AND THIS WERE TO PASS BETWEEN NOW AND AUGUST, WHAT IT WOULD DO IS THAT A FEDERAL BANKRUPTCY JUDGE DOES NOT GET TO TELL THE STATE OF MASSACHUSETTS OR THE STATE OF NEW YORK OR ANY OTHER STATE THAT THEY CAN PROCEED IN THEIR LAWSUITS AGAINST THE SCHERS.

ALL GETS ARE OFF.

>> Braude: SPEAKING OF ACCOUNTABILITY, THERE IS FINANCIAL ACCOUNTABILITY FOR THE MOST PART THEY'VE ESCAPED AT LEAST PERSONALLY, THERE IS ALSO CRIMINAL LIABILITY.

THE ORANGE JUMP SUIT NOTION BUT THE SACKLERS LIKE SO MANY CORPORATE LEADERS WHO HAVE REPLIES DEEDS TO BE EUPHEMISTIC HAVE APPARENTLY INSULATED THEMSELVES FROM THE BEHAVIOR OF THE COUNTRY TO THE EXTENT THAT CRIMINAL% ACCUSE OF THE SACKLERS THEMSELVES DOES NOT SEEM TERRIBLY LIKELY DOES IT OR DOES IT?

>> I THINK THOSE WOULD BE TOUGH CASES TO BRING.

I THINK CERTAINLY IF YOU READ MY BOOK IF YOU LOOK AT THE LEGAL COMPLAINT THAT MAURA HEALEY PREPARED, WHEN THE FAMILY IS DOMINATING THE BOARD OF THE COMPANY, CALLING THE SHOTS AT THE COMPANY AND REAPING BILLIONS AND BILLIONS OF DOLLARS FROM THE COMPANY.

IT MAY BE THAT OUR SYSTEM IS RIGGED IN FAVOR OF THE BILLIONAIRE CLASS IN SUCH A WAY THAT THEY ARE SHIELDED FROM REAL CRIMINAL LIABILITY FOR THEIR OWN CONDUCT.

BUT I THINK TO ANYBODY WITH EYES IN THEIR HEAD WHO IS LOOKING AT THE STORY SERIOUSLY.

IF YOU WANTED TO KNOW WHERE THE RESPONSIBILITY IS IT IS WITH THEM.

CREDIT.

>> Braude: YOU REPORTED A GREAT STORY BUT HAVEN'T REPORTED THE END OF THE STORY, IN NOSTRADANUS TIME THEORY, ARE THEY ABLE TO ESCAPE WITH BILLIONS OF DOLLARS IN PERSONAL WEALTH AND ALL THEIR ART COLLECTIONS AND JUST HAVE THE COMPANY THAT THEY LOOTED GO DOWN THE DRAIN?

>> THAT'S WHAT THEY'RE PROPOSING, THEY'VE PROPOSED THAT THEY WOULD PAY A LITTLE OVER $4 BILLION IN ORDER TO HELP REMEDIATE THE OPIOID CRISIS.

THEY WOULD ADMIT NO WRONGDOING AND THEY WOULD BE SHIELDED FROM ANY FUTURE LAWSUITS AND WALK AWAY WITH THEIR BILLIONS.

I THINK THAT REMAINS TO BE SEEN WHETHER THAT PLAYS OUT, PEOPLE LIKE MAURA HEALEY WILL BE INSTRUMENTAL.

THERE IS OTHER ACCOUNTABILITY WS REPUTATIONAL ACCOUNTABILITY.

THIS FAMILY MANAGED THROUGH A KIND OF CON DOM WRITE THE FAMILY HISTORY OUT OF THE FAMILY BUSINESS.

I THINK THOSE DAYS ARE OVER.

I THINK PEOPLE KNOW WHAT THE SACKLER NAME MEANS IN A FULLER SENSE TODAY.

AND THE REAL LEGACY THAT THEY WILL LEAVE BEHIND.

>> Braude: LET'S HOPE IT DOESN'T END WITH REPUTATION.

YOUR BOOK IS BOTH ENRAGING AND BRILL YABTS.

PATRICK, THANK YOU SO MUCH FOR YOUR TIME.

>> THANK YOU FOR HAVING ME.

>> Braude: THE BOOK AGAIN IS "EMPIRE OF PAIN: THE SECRET HISTORY OF THE SACKLER DYNASTY."

AND FINALLY TONIGHT, REMEMBERING SOME OF THE PEOPLE BEHIND THE COVID DEATH TOLL, WITH THE HELP OF THE "FACES OF COVID" TWITTER ACCOUNT.

LIKE 62-YEAR-OLD JAMES ALLICK OF ANDOVER, DESCRIBED AS "HARD WORKING, GENEROUS, ENIGMATIC AND GREGARIOUS" AND "IN HIS DOWNTIME, HE ENJOYED MEETING WITH FRIENDS FOR DINNER OR DRINKS."

85-YEAR-OLD JOAN JONES OF COHASSET.

HER FAMILY WROTE, "LOSING SOMEONE ON MOTHER'S DAY WHO EXEMPLIFIED WHAT IT MEANS TO BE A WONDERFUL MOTHER, GRANDMOTHER AND MOTHER-IN-LAW MADE THE LOSS THAT MUCH HARDER."

75-YEAR-OLD STAN BOULE OF SHREWSBURY WAS AN AIR FORCE VETERAN WHO "LOVED TO COOK AND WAS AN AVID PATRIOTS FAN WHO ENJOYED TAILGATING AT GILLETTE STADIUM."

AND 98-YEAR-OLD ITALO SERVI, WHO "WAS A JEWISH IMMIGRANT BORN IN ITALY.

HE ESCAPED DEPORTATION TO THE NAZI DEATH CAMPS AND FLED TO THE U.S." SERVI "WAS QUIET.

HE WAS NOT FLASHY.

HE WAS ACCOMPLISHED.

HE WAS HONEST."

IF YOU LOST SOMEONE YOU LOVE TO THE PANDEMIC AND WOULD LIKE TO SHARE THEIR STORY, PLEASE, VISIT twitter.com/faces-of-covid.

THAT'S IT FOR TONIGHT.

WE'LL BE BACK TOMORROW.

THANKS FOR WATCHING.

STAY SAFE.

AND STAY TUNED NEXT-- IN HONOR OF MENTAL HEALTH AWARENESS MONTH, WE'RE LOOKING BACK AT ONE HIGH SCHOOL SENIOR'S STRUGGLES WITH ANXIETY AND DEPRESSION DURING REMOTE LEARNING.

FROM OUR ONGOING GBH NEWS SERIES, "COVID AND THE CLASSROOM."

Captioned by Media Access Group at WGBH access.wgbh.org ♪ ♪ ♪