shkreli. shkreli will not answer any questions. may answer one or two questions depending on the question. i am feet--mr. shkreli's attorney. to my left is my father. let me first say this was a frustrating morning for us because i think mr. shkreli would like nothing more than to enter the committee's questions and i think he would have very good answers. he has agreed because of the pending indictment in the district of new york to follow my advice and not answer any questions and invoke the fifth amendment privilege and i think that was the appropriate advice under the circumstances. the gentleman on the committee who discussed the fifth amendment with all due respect had no idea what he was talking about given the law as i understand it to be. mr. shkreli has the right to invoke his fifth amendment and to be ridiculed for it is just unfair and inappropriate. i would also tell you that mr. shkreli did not intend to show any disrespect for any members of the committee, listen intently. some of what you saw was nervous energy by a

shkreli. mr. shkreli is not going to answer any questions. i may ask one or two questions depending on the question. my name is ben brathman, mr. shkreli's attorney. on my left is my partner. let me say this was frustrating morning for us because i think mr. shkreli would like nothing more than to answer the committee's questions. i think he would have very good answers. he has agreed because of the pending indictment in the eastern district of new york to follow my advice and not answer any questions and invoke his fifth amendment privilege. i think that was the appropriate advice under the circumstances. the gentleman on the committee who discussed the fifth amendment, with all due respect, had no idea what he was talking about given the state of the law as i understand it to be. mr. shkreli has a perfect right to invoke his fifth amendment and to be ridiculed for it is unfair and inappropriate. i would also tell you mr. shkreli did not intend to show any disrespect for any members of the committee, listened intently. some of what you saw w

shkreli says: "..on the advice of council i invoke my fifth amendment privilege against self incrimination and respectfully decline to answer your question." the 32-year-old's company raised the price of a drug that treats hiv patients from 13 dollars and fifty cents to 7- hundred-50 dollars a pill. that's a more than 5-thousand percent increase. shkreli's lawyer advised his client refuse to answer questions, and later defended his client's actions. brafman says: "..he did not intend to show any disrespect, he was listening intently and some of what you saw was shkreli has spoken plenty outside the hearing room, speaking with the fox business network this week. shkreli says: ".. i think it's nothing more than an advertisement for some congressmen that want to get some votes and some cheap publicity off of my name." (on cam tag) shkreli -- was arrested for securities fraud in a separate case. he continues to blast lawmakers... tweeting it's, quote, "hard to accept that these imbeciles represent the peop

they printed one copy of the shkreli. yet, in the hearing, shkreli was so cagey he wouldn't even confirm that. >> is it wu-tang clan? is that the name of the album, name of the group? [ light laughter ] >> on the advice of counsel, i invoke my fifth amendment privilege against self-incrimination and respectfully decline to answer your question. >> seth: what was the lawyer saying to him? "i think it would be super funny if i pretend to whisper you advice, but then you just give the same answer you keep giving." [ laughter ] although, only congress would need to ask a witness, "is it wu-tang clan?" [ light laughter ] said, "don't ask. just trust me, it's the wu-tang clan." but some old white dude was like, "it just doesn't sound right. i need confirmation." [ light laughter ] now if you think, "at least the wu-tang clan must like shkreli for paying $2 million for your album," you'd be wrong. wu-tang member, ghostface killah called shkreli a [ bleep ] head for raising the price of the drug. and then shkreli responded with a

but there's also widespread gouging, just like what shkreli did.mple, last year a company called valeant pharmaceuticals bought the rights to a pair of life saving heart drugs. the same day their list prices rose by 525% and 212%. valeant didn't cause nearly as much outrage as shkreli did, because they don't have a smug, irritating face. they have a soothing logo. if valiant's logo was this, you'd immediately think, what are these [ bleep ] up to? [ laughter ] i don't trust them at all. if congress really wanted to help, politicians on either side of the aisle would work together to pass laws and limit the ability to price gouge. but they can't do that, because they are trying to get more important information. >> is it wu-tang clan? [ light laughter ] >> seth: this has been "a closer look." ♪ [ cheers and applause ] we'll be right back with john oliver! [ cheers and applause ] ♪ ♪ shopping for an suv? well, this is the time. and your ford dealer is the place, to get 0% financing for 60 months on a ford suv. that's right. just announced. ford explo

he has told shkreli he can no longer talk to the press. that didn't stop shkreli from tweeting minutes after he left the hearing saying it's hard to accept that these imbeciles represent the people in our government. >> that's one extra piece of information that i think was worth adding and the attorney said this afterwards, they told him he would plead the fifth. and they still insisted he came before them. that then completes the picture. it's difficult to like the guy but it partly explains where he might be coming from i think in that. >> we'll ask brafman about that too, to what extent he thought he was going to be taken advantage of in those circumstance. for now, thank you. as mentioned shkreli's attorney ben brafman will speak with us exclusively in the next hour of the show and we'll ask about this and much more. >> the interview of the day i think. >> certainly the event of the day this morning. >> with the dow up 45 points, let's get a cnbc news update. >> here's what's happening at this hour, a new batch of u.s. made f-16 fight

shkreli. >> do you think you've done anything wrong? >> reporter: congress got shkreli declined to answer a single questioio, smirking throughout the session. >> it's n funny, mr. shkreli. people are dying and they're getting sicker and sicker. >> reporter: he then invoked his fifth amendment right to remain silent. >> on the advice of counsel, i invoke my fifth amendment privilege and respectfully decline to answer your questions. >> reporter: the hearing got heated as lmakers ranted about the out of control pricing. >> perverse business practices to exploit a patient group trying to do nothing more than totoextend their lives. >> reporter: shkreli has been outspoken and unapologetic in the past. >> we're certainly not the first company to raise drug prices. >> reporter: his former company did back off that price increase, but shkreli defended the decision as simply good business. in fact the chiefef commercial officer said the majority of patients rececived the pill at a government programs.

ben brafman says shkreli has been unjustly (sot: ben brafman/shkreli's attorney) "mr. shkreli is not a villain. he's not the bad boy. i think at the end of this story he's the hero."(gfx)shkreli tweeted: "hard to accept that these imbeciles represent the people in our government." - shortly after leaving the hearing.mark albert for cbs news, washington. 3 3 safety is an important part of 3 coming up after the break in tonight's healthwatch... how sioux city fire rescue, siouxland papamedics and mercy medical center are teaming up to increase safety in kids and adults. 3 "you're watching siouxland news at five on kmeg 14, with larry wentz, diana castillo, siouxland's chief meteorologist chad sandwell and sports director chris 3 3 3 sioux city fire rescue is hosting two programs to increase safety in siouxland.on saturday, february 13th... firefighters at fire station number 4 on hamilton boulevard will host a safety expo.in addition to tours of fire engines and equipment... technicians from mercy medical center will be on hand to provide free car seat checks to parents

and then shkreli responded with a video of him and hooded goons ghostface. well today, ghostface responded with a video of his own, that introduced his own, far superior goons, his mother and sister. >> you wicked boy. you wicked -- how was you raised? >> tell 'em, mom. >> do you have any morals? >> tell 'em mom. get him. >> oh, i can't believe you. >> seth: they made t-shirts. they're the best. [ laughter ] the best. but let's not get distracted from the real issue, which is shkreli's not alone. he's just doing what a lot of pharmaceutical companies already do, except he's being loud and nniving about it, while they're being secretive and conniving about it. fact, the house o?ersight committee revealed an email om aneunnamed pharmaceutical executive asking shkreli not to raise the price of the drug, not cause it was wrong, but becausst "the benefit is not worth the risk of getting yourself back in the news he's basically telling shkreli, don't draw attention to what we do. it's like when ou pull d heist and tell everyone, don't spend the money right away an

he's basically telling shkreli, don't draw attention to what we do. it's like when you pull a heist and tell everyone, don't spend the money right away and then shkreli goes out the next a wu-tang album. [ laughter ] but the problem with drug prices martin shkreli. he's a convenient deserving scapegoat. drugs across the board than other developed countries. take, for example, an acid reflux drug like nexium. according to cnn, an insurer in average $215 per customer. yet the same prescription in the netherlands costs about one that is crazy. no one needs acid reflux drugs more than americans. [ laughter ] it should come as a side dish with the kfc double down. [ light laughter ] a major reason for these excessive prices is that unlike other countries, the u.s. government doesn't negotiate with drug companies. prices are set completely by the market. but there's also widespread gouging, just like what shkreli for example, last year a company called valeant pharmaceuticals bought the rights to a pair of life saving heart drugs. the same day their list pr

trey gowdy/ (r) south carolina) "is it pronounced shkreli?" pharmaceuticals, founder and former ceo) "yes sir." (rep. trey gowdy/ (r) south carolina) "see there you can answer some questions. that one didn't incriminate you. i just want to make sure you understand you are welcome to answer questions and not all of your answers are going to subject you to incrimination, you understand that, don't you?" (martin shkreli/turing pharmaceuticals, founder and former ceo) "i intend to follow the advice of my counsel, not yours." shkreli faces securities fraud charges involving retrophin, another biotech company that he ran several years ago. today's hearing was unrelated to those charges. next -- remembering the man behind the voice of bugs bunny and several other loved cartoon characters. and vice president biden just did something he really wants you sad news in the congress doesn't regulate wall street... wall street regulates congress. it's a rigged economy that sends most new wealth to the top 1%. and it's held in place by a corrupt political sys

shkreli. people are dying and getting sicker and sicker. >> i intend to use the advice of my counsel, not yours. liz: now he is facing an unrelated federal criminal indictment. shkreli refused to testify on the issue of drug pricing repeatedly citing fifth amendment right not to incriminate himself. but he may have done himself and the entire pharmaindustry a big disservice with all the heated drama between ted cruz and donald trump, will that take a back seat to real issues like the cost of prescription drugs and the gouging that shkreli tried to pull off? team coverage on the story. it matters to all of you. adam shapiro along with blake burman live on the campaign trail in new hampshire where suddenly candidates are asked their positions on this and on drug pricing, but adam, first, begin with you. quite a stunning bit of drama here on capitol hill. >> reporter: yes, and two things mr. shkreli did that are raising eyebrows. one of them is what he said after he left the hearing. he has been

tomorrow, martin shkreli will face a committee. when shkreli was pharmaceuticals... he hiked the price of the drug daraprim... charging 750- dollars per pill instead of the usual 13-dollars d 50-cents. the astronomical hike caused outrage. shkreli has been subpoenaed... but his lawyer says do not expect him to answer any questions. " " " , and yet because of the pending criminal charges if he's required to appear before a congressional committee tomorrow on the advice of counsel mr. shkreli will be invoking his 5th amendment privileges against self-incrimination and not answering any questions." congressional investigators have obtained 25- thousand pages including emails from shkreli. last year, shkreli sent an email to the chairman of the board of directors writing : "one billion dollars, here we come." tim: the debate over how to solve flint michigans water issues continues. some have suggested that the city should get rid of all lead pipes. but before that can happen, someone has to figure out whe those pipes are. that's what a professor and his team at the unive

but let's not get distracted shkreli's not alone. he's just doing what a lot of pharmaceutical companies already do, except he's being loud and conniving about it, while they're being secretive and conniving about it. in fact, the house oversight committee revealed an email from an unnamed pharmaceutical executive asking shkreli not to raise the price of the drug, not because it was wrong, but because, "the benefit is not worth the risk of getting yourself back in the news again." he's basically telling shkreli, don't draw attention to what we do. it's like when you pull a heist and tell everyone, don't spend the money right away and then shkreli goes out the next morning and spends $2 million on a wu-tang album. [ laughter ] but the problem with drug prices in america is much bigger than martin shkreli. he's a convenient deserving scapegoat. but americans pay way more for drugs across the board than other developed countries. take, for example, an acid reflux drug like nexium. according to cnn, an insurer in the united states pays o

shkreli didn't choose to testify. he has taunted congress and said that if we just got to know him, we would think more of him. and gave him every opportunity to provide his side of the story. but nevertheless, look, you have drugs that have rapid increases in pricing and in this case, less than $20 to more than $700, closer to $750, then you would think that basic economics would allow competition to come in and undercut that pricing and still maintain a healthy profit. but i -- more of my focus, long-term, will be on the fda process. we have more than 3,000 drugs that are in a backlog at the fda, congress had passed in 2012 legislation nearly unanimously in the house and senate that allocated $1.5 billion in user fees to loosen up this process. but there is still a backlog. and drugs are not allowed to get on the market fast enough and i think that would undercut anything that mr. shkreli or any other company wants to do. >> this particular drug that went from $12.50 a pill to $750 a pill or whatever the prices were

shkreli. they would pose for pictures while the ranking member was speaking and i think this was totally ridiculous. they would love to conduct some of the of the act that same way on trial. >> we will now recognize ms. martin for five minutes. the antics that in the kind of attention. let me say this about pharmaceuticals i think pharmaceuticals and the work of the companies are most extraordinary. it's often given as reason to be the reason we get the reason we do understand rnd. we do understand that it is done here is done abroad and then of course across less abroad. to make it clear that the government understands it, that understood let us go to the kind of paradigms here. a drug that is used for the parasitic or what could be fatal to. it's used by cancer patients and patients with hiv. it has a relatively small patient market. now, ms. retzlaff, turing purchased the drug and i just said i give all credit to the industries but it is true, is it not, that you did not do the rnd for dara

shkreli says: "..on the advice of council i invoke my fifth amendment privilege against self and respectfully decline to answer your question." the 32-year-old's company raised the price of a drug that treats hiv patients from 13 dollars and fifty cents to 7- hundred-50 dollars a pill. that's a more than 5-thousand percent increase. shkreli's lawyer advised his client refuse to answer questions, and later defended his client's actions. brafman says: "..he did not intend to show any disrespect, he was listening intently and some of what you saw was nervous energy" shkreli has spoken plenty outside the hearing room, speaking with the fox business network this week. shkreli says: ".. i think it's nothing more than an advertisement for some congressmen that want to get some votes and some cheap publicity off of my name." shkreli -- was arrested for securities fraud in a separate case. he continues to blast lawmakers... tweeting it's, quote, "hard to accept that these imbeciles represent the people in our g

shkreli will be invoking the fifth and not answering any questions. >> maria: that was martin shkreli'storney after court appearance in new york yesterday reiterating what he told me this week. listen. >> i think it's ridiculous that they would force me to be in person when i've stated that i will be taking the fifth. i think it's unethical. the dc manual states it's unethical to bring someone and subpoena them to take the fifth. it's nothing but advertisement of congressmen who want to get some votes and publicity off of my name. >> maria: wow. he says things almost to stay, stick it in your eye, congress. he's going to enuriate them more. his short tenure as ceo and whatever he did in wall street, which wasn't significant is over. he's playing himself as a the villan. he's playing with the media here. >> maria: believe it or not, jo, i think america is changing their thoughts on me. i know i was a little snarky initially but i realize it and now i want america to see who i am and that is coming with drugs for diseases. >> jo ling: i think the wearing off of shock is making him better