Those of you who read my posts may possibly notice a subtle but consistent idea that the EPA and the FDA are to small=helpless=weak to be effective. This morning we all learned that Vytorin does not reduce heart disease. Apparently though, Merck and Schering-Plough learned this same information 730 mornings ago and did not feel that information was important enough to share. In fact, rather than mention that Vytorin did not reduce heart disease, they chose to spend $200,000,000.00 to say just how wonderful the drug is. And it sold. Lets just guess since there were 5bil in sales this year that their were 4bil in sales last year since the time Merck and SCP knew they were selling a product that did not help. Today the two companys took a combined 20bil loss in their market cap, I presume because they will no longer be selling Vytorin (I hope). [more]
US Treasurys, that is, as valued by the South Korea National Pension Fund.
to polluters when you cannot prove any connection between your health problems and environmental conditions. Fortunately at the hand of the Bush administration the EPA Library system has been gutted. So the billions of dollars spent by us to collect data have been rendered wasted by a Bush administration budget cut that saved 2 million dollars in annual library expenses, while making it impossible for the EPA to research work already done. Only 10,000 EPA employees signed the petition to stop this gutting while you were watching Anna Nichole Smith. [more]
McCain. Mr. Straight Talk Express. Its called the McCain-Feingold Act. You spent beyond the limit after accepting the matching funds. Messing with campaign finance law is much worse than hiring a hooker. You don't get to use it as collateral then change your mind later any more than a homeowner does. [more]
(Hat tip to the Econobrowser post: 'Kicking the Can Down the Road') [more]
yourself with sunscreens this summer? Protecting your kids from the harmful rays of the sun? Well, if you're going to do it...do it right!
And keeping them on the rise. [more]
Housing wire reports that alt-a defaults are closing in on 18%. The thing is that these loans are not resetting yet. They supply a chart that shows that this three month period has the lowest rate of scheduled resets for the rest of the year. Apparently it has been suggested to Housingwire that 70% of all alt-a (liar loans) were fraudulent. [more]
is worth slightly less than Alex Rodriguez for ten years.
The 32-year-old Rodriguez and the New York Yankees have agreed to the outline of a 10-year, $275 million contract, the Associated Press said last week.
"If you have your health, you have everything". [more]
From the writings of Alan Greenspan, speaking of 2007 China: [more]
Working with heavy industry gave me a profound appreciation of the central dynamic of capitalism. "Creative Destruction" is an idea that was articulated by the Harvard economist Joseph Schumpeter in 1942. Like many powerful ideas, his is simple: A market economy will incessantly revitalize itself from within by scrapping old and failing businesses and then reallocating resources to newer, more productive ones. I read Schumpeter in my twenties and always thought he was right, and I have watched the process at work throughout my entire career. [more]
Not likely this time. [more]
So, It seems there is some butt kicking going on involving Freddie and Fannie and some unidentified Home Appraisers and my very own NY State Attorney General, Andrew Cuomo. [more]
Taxes are too high! Gov't is wasteful! School Budgets are out of control! Medicare is too costly! [more]