solar jim

A Giant Pinball Game - Fast Money Recap (9/30/08)

If its a foreign bank that bought a US unit that then got in trouble or was in trouble its the same as if it is a wholly owned US bank - less lending here and the system seizes up and the death spiral downward continues. It's a consequence of pushing globalization that this is affecting everyone everywhere as now the bad debt is everywhere. You know, it's funny - I don't see too many people pushing globalization and deregulation as much as they did a year ago.

A Giant Pinball Game - Fast Money Recap (9/30/08)

To Britishsteel: Actually, I can't vote for it. And I haven't ever seen any House representatives or senators on this site so I'm not quite sure why you're telling us to vote against it. Until it changes, US is a representative democracy and its the rep/sen who actually votes on behalf of us.

Former Merck CEO Prods Industry on Drug Pricing

I'm not arguing for or againt lower prices. I just want to point out something.

We live in a country whose economy is more market oriented than centrally run (govt) oriented. As a result, you have for profit companies in the pharma industry. The reason to incorporate is to make money. Period. That's the one responsibility a "company" has to abide by. As long as medicine continues to be a for profit business then the way it is will continue ad infinitum. Putting restrictions on profit motive will make future investment (R&D) more expensive relative to future profit. Ultimately, This means that their are some drug candidates that are not as risk free in developing and these will be the ones not pursued. Breakthroughs wont stop, but they will come at a much slower pace.

Personally, I think people are having an argument over the wrong question/issue. It's not about legislating the prices that companies can charge. It's about whether pharma should be allowed to be for profit companies. Non-profits could still invest for R&D as current Co's do and still charge less because they don't need to make all these billions of dollars of profits every year.