• Tips gratefully accepted here. Thanks!:

  • Recent Comments

    lililam on Chernobylesque
    Ann Brown on Decisions, Decisions.
    jmac on Decisions, Decisions.
    Ga6thDem on Decisions, Decisions.
    HerstoryRepeating on Decisions, Decisions.
    William on Decisions, Decisions.
    Pat Johnson on Decisions, Decisions.
    tamens on Decisions, Decisions.
    Catscatscats on Chernobylesque
    Propertius on Chernobylesque
    Catscatscats on Chernobylesque
    William on Chernobylesque
    William on Chernobylesque
    William on Chernobylesque
    Ivory Bill Woodpecke… on Chernobylesque
  • 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
    « Jul   Sep »
     1234
    567891011
    12131415161718
    19202122232425
    262728293031  
  • RSS Paul Krugman: Conscience of a Liberal

  • The Confluence

    The Confluence

  • RSS Suburban Guerrilla

  • RSS Ian Welsh

    • And They Made A Desert: 80 to 90% Drop In Nutrients In Food
      Stumbled across this lovely chart the other day. The core fact most people, including the folks in the “best every world” Panglossian movement (like Pinker) don’t seem to understand, is that even if they were right (questionable), the prosperity we have is based on burning down our house. “Sure is hot! Hottest it’s every been!” […]
  • Top Posts

  • Advertisements

Walk to the bus music

Be back in a bit. Vamp.

Advertisements

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: