Munger Says Couldn't Resist Valeant Critique That Caused Trouble
- `Crazy excess' is bad policy, bad for nation, Munger says
- It probably wasn't wise to inject myself in clash, he says
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Billionaire Charles Munger said it may not have been smart to publicly criticize Valeant Pharmaceuticals International Inc. but that he felt obligated to speak out against what he sees as abusive practices.
“I couldn’t resist calling attention to it,” Munger said Wednesday at the annual meeting of his Daily Journal Corp. in Los Angeles. “These crazy false values and this crazy excess is bad morals and it’s bad policy. It’s bad for the nation. It’s just bad, bad, bad.”