• Tips gratefully accepted here. Thanks!:

  • Recent Comments

    Ivory Bill Woodpecke… on Words du Jour
    William on Happy Birthday to Me!
    Ivory Bill Woodpecke… on Happy Birthday to Me!
    MAG on Happy Birthday to Me!
    bellecat on Happy Birthday to Me!
    riverdaughter on Happy Birthday to Me!
    bellecat on Happy Birthday to Me!
    jmac on Happy Birthday to Me!
    jmac on Happy Birthday to Me!
    Ivory Bill Woodpecke… on Happy Birthday to Me!
    Ivory Bill Woodpecke… on Happy Birthday to Me!
    riverdaughter on Happy Birthday to Me!
    Roger on Happy Birthday to Me!
    Ivory Bill Woodpecke… on Chaos and Confusion is the…
    Catscatscats on Chaos and Confusion is the…
  • Categories

  • Tags

    abortion Add new tag Afghanistan Al Franken Anglachel Atrios bankers Barack Obama Bernie Sanders big pharma Bill Clinton cocktails Conflucians Say Dailykos Democratic Party Democrats Digby DNC Donald Trump Donna Brazile Economy Elizabeth Warren feminism Florida Fox News General Glenn Beck Glenn Greenwald Goldman Sachs health care Health Care Reform Hillary Clinton Howard Dean John Edwards John McCain Jon Corzine Karl Rove Matt Taibbi Media medicare Michelle Obama Michigan misogyny Mitt Romney Morning Edition Morning News Links Nancy Pelosi New Jersey news NO WE WON'T Obama Obamacare OccupyWallStreet occupy wall street Open thread Paul Krugman Politics Presidential Election 2008 PUMA racism Republicans research Sarah Palin sexism Single Payer snark Social Security Supreme Court Terry Gross Texas Tim Geithner unemployment Wall Street WikiLeaks women
  • Archives

  • History

    August 2018
    S M T W T F S
  • RSS Paul Krugman: Conscience of a Liberal

  • The Confluence

    The Confluence

  • RSS Suburban Guerrilla

  • RSS Ian Welsh

    • Know Your Enemies
      An enemy is someone who means you harm and has the means to inflict it. A friend is someone who has wants to do good for you, and has the means to bestow it. I once wrote primarily to predict and to change the world. I now write to help a few people, those who […]
  • Top Posts

Walk to the bus music

Be back in a bit. Vamp.

Chris Collins should resign.

I have to make this short.

I’m not saying he should resign because he’s Republican. I’m saying that because his insider trading selfishness hurt people.

Short summary: biotech startups are created by scientists. Startup costs, capital investments in equipment etc are very expensive for pharmaceutical R&D. There aren’t as many positions available in pharma R&D since the patent cliff caused Pharmageddon in the last 10 years. That means companies have to scale down their portfolios and put most of their money and staff on one drug. One bad clinical failure or FDA ruling and all that hard work and money is gone. I don’t particularly like this business model but that’s the way out new breed of financiers want it. Scientists take a lot of risks and then they have to deal with vulture capitalists. You know what is a good model for a pharmaceutical company? A midsize private corporate lab. Sorry lefties, but that’s the way things work. But I digress.

If you’re lucky to find one, you’re likely to receive some of your compensation in stock.

A lot of your compensation is in stock. It’s not necessarily to incentivize you.

And you can’t make vulture capitalists stay. It doesn’t matter that they don’t understand that research takes a long time and fails repeatedly before something hits. They do not understand deferred gratification.

So when some asshole congressman reacts to a bad clinical trial by engaging in some insider trading and makes the stock drop by 92%, that hurts. That hurts everyone. It hurts the company, scientists and patients.

There ought to be a law or a better way to finance research. But there ain’t. We do have prosecution for insider trading.

I’ll take it.

And Collins can quit. Now.

Walk to Work Music

Good Morning, oh best beloveds. It’s a warm, sticky cloudy day in the burgh. Lots to do today. But I’ll be listening to the Manafort trial if I can. I think we’re getting hints of why Donald Trump doesn’t want to release his tax returns.

Get the popcorn. With extra butter.

Father John Misty: