Not A Typo

I was reading a post on Dean Baker’s “Beat the Press” blog about … Things Not to Love About the Mortgage Settlement. A few paragraphs in, Baker begins to list the things:

1) It is not clear what baseline is being used to determine how much is being paid. The banks are already doing some amount of modifications, principle reductions, and short sales. It is not clear how it will be determined that they are going beyond what they would have done anyhow as a result of the settlement. This means that it will be difficult to determine that the $17 billion in write-downs stipulated in the settlement have actually taken place.

(Bolds mine.)

At first I thought it was a typo, specifically, that he really meant principal reductions. Then I remembered: Baker is talking about bankers…

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  • L'Enfant de la Haute Mer  On Wednesday February 22, 2012 at 8:08 am

    US to import cancer drug from India:
    http://post.jagran.com/us-to-import-cancer-drug-from-india-1329899793

    Washington: The United States on Wednesday said it will import cancer drug manufactured in India to overcome the acute shortage of the medicine used in treatment of ovarian, bone marrow and AIDS-related skin cancer…

    ..”A drug shortage can be a frightening prospect for patients and President (Barack) Obama made it clear that preventing these shortages from happening is a top priority of his administration,” said FDA Commissioner Margaret Hamburg.

    • Steve  On Thursday February 23, 2012 at 10:23 am

      Enfant, thanks. Even my conditions, which are far more benign than AIDS or cancer (and far more common as well), require me to take several prescription medications twice a day on an ongoing basis, and without them, my prognosis would not be good. But I have read elsewhere that US-based pharmaceutical companies are disinclined to manufacture drugs for more uncommon diseases for which they cannot, in their opinion, receive adequate profit. This is a fundamental problem with having a system of production based on purely market-based considerations: people who need obscure drugs would simply die for lack of them if they had to be sold at a profit.

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