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WASHINGTON, Aug 1 (Reuters) - A top U.S. healthcare officialon Thursday challenged claims by Republican lawmakers that thecountry"s healthcare reform law is causing workers to lose hoursor benefits, saying she is aware of only isolated cutbacks.
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"It"s not unexpected because we"ve been able to see for months through satellite imagery that North Korea has been working on repairing the five-megawatt electric reactor," he said in a telephone interview.
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The British consumer goods group said on Tuesday it wasreviewing options for the pharmaceuticals business, whichanalysts said could fetch over 2 billion pounds ($3.2 billion)and appeal to international drugmakers.
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Ironically, even though it emerged from the wreckage of the crisis, the OBR is a product of the same data-driven mindset that helped cause the crisis. It looks to me a little like the political equivalent of the machine that the banks and regulators built in the run-up to the disaster of 2007-2008. In banking, which was becoming more complicated as it expanded rapidly, there was an obsession with measurement. It led to a proliferation of concepts such as Risk-Weighted Assets and Value at Risk, mechanisms designed so that in theory banks could weigh and assess the risks they were taking with a new pinpoint accuracy. Data was crunched daily, forms were filled, risk committees met non-stop. Lots of very well-paid and in theory smart people assured each other that their cleverness had made the world safer as (who would have guessed it?) they got richer.
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Bernanke might prefer to leave with the nation on a moresolid economic footing but reality has not cooperated. U.S. unemployment remains high at 7.3 percent and labor forceparticipation continues to decline.
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