Because of his lost profits and the general market conditions, his supervisors ordered him to rein in the risks he was taking.

WSJ: Ex-Goldman Trader Pleads Guilty to Fraud

After Merck pulled painkiller Vioxx off the market in 2004 because it doubled heart attack and stroke risks, Frazier, then Merck's general counsel, decided to fight about 50, 000 patient lawsuits one by one, instead of negotiating a mammoth settlement covering most of them.

WSJ: CEO: Risks key for Merck to succeed, help patients