As part of his ongoing effort to provide Bill Thompson with enough material for the perfect "Mike Bloomberg Doesn't Understand Real People" campaign ad, Bloomberg defended everyone's favorite industry today: Big Pharma. "You know, the last time I checked, pharmaceutical companies don't make a lot of money, their executives don't make a lot of money," he said during his weekly radio interview with John Gambling. He must have checked a long time ago, because the average compensation for one in 2008 was $3.65 million, with a few raking in more than $25 million (a.k.a. a lot of money). Later in the show, realizing his mistake, he acknowledged that pharmaceutical executives are actually "making a decent amount and more than a decent amount."
Bloomberg: Don't 'Beat Up' On Big Pharma [Daily Politics/NYDN]
Earlier: Bloomberg May Not Realize That Rich People Are Unpopular