In Our Malady, historian Timothy Snyder shares his personal experience of struggling to navigate America’s healthcare system during a serious illness, providing shocking insights into racial and income inequality that continue to plague Americans. Below are extensive exerpts from the interview, I don't expect we'll be able to discuss all of them, but hopefully most!
Congressional Inquiry into Health Insurance
Rep. Katie Porter: What I'd like to do now, Mr. Bradway, is I'd like for you to please explain to the American public why you and four other executives deserve to pay yourselves tens of million dollars each year. I've got an empty whiteboard ready to take down your justifications.
Amgen CEO Robert Bradway: I recognize that that's a considerable sum of money. I would, of course, point out that I don't have any direct input to my compensation: that's derived by the board, and it’s the board to a vote of the shareholders who overwhelmingly supported the compensation package for me and the other main executive officers–
Rep. Katie Porter: Reclaiming my time, sir. Do you not know why you're getting hundreds of millions of dollars, tens of millions of dollars a year? What is the justification? I'd like to show the American people.
Amgen CEO Robert Bradway: Our compensation is consistent with competitive positions at other companies-
Rep. Katie Porter: Mr. Bradway, reclaiming my time. “The other guy gets paid too much too” isn't a justification. I'd like to hear what you do to deserve $124 million in salary–you and your top five executives–over a three year period?
Amgen CEO Robert Bradway: Well, more than 90%-
Speaker: Gentlelady’s time has expired. The gentleman may respond to her question.
Amgen CEO Robert Bradway: More than 90% of my compensation is based on performance measures that include how our shares perform relative to the market, and our compensation program is aligned with that of our owners, our share owners. So, a large part of my compensation reflects the fact that we've been creating value for our share owners by advancing innovative medicines like those that we have on the marketplace today.
Rep. Katie Porter: I wish you would focus on creating value for sick patients, Mr. Bradway, not just your shareholders. I yield back.
Pain
Tim Snyder: The bit of book that you're talking about, I'm starting from my own problems with pain, basically. By a problem with pain, I don't mean that I have a lot of physical pain. That's true. But, what I meant is my inability to talk about it.
In the story of my illness, a lot of things go wrong and a lot of them weren’t the fault of individual doctors or nurses. I think generally, they were the fault of a system which makes it impossible for doctors and nurses to work, and maybe we'll go into some of those details and some of that structure. But some of the problem was that repeatedly, I was unable to tell people that I hurt a lot.
