Great article : poor getting poorer

While checking my email in the med library today, I stumbled across this report about how the rich get richer by making the poor poorer. This is a very well written article, with a huge amount of actual data and statistics, that doesn't take sides but presents both very clearly. Th answer to the question of "who is responsible?" (the greedy business men or the uneducated poor) is unequivocally both. Gluttony and sloth are both deadly sins. The good news however is that there is a relatively simple fix. First, pass laws that make loan disclosures simple graphically and standardized (think food labels). This should coincide with a public service media campaign to show people how to read them. Laws that tighten the usury rate laws (say standardizing rates for any length loan to a per year standard) and outlawing the issuing of credit beyond a certain percentage of a individuals yearly income would almost completely solve the problem. Maybe this subprime loan mess will finally make it happen.


Full disclosure: I made a fair amount of money last year when ECC sold its subprime unit to Bear Sterns.

Dateline 5/11/07

Well spring is here and I am feeling fine. I have gotten moved in too my new apt in East Falls, which has so far been everything that I expected. I am getting the hang of my new admissions job and class is winding down. I have contacted a bunch of labs to try to find a place to do research next year and got interest from both a cardiac surgery program at Drexel and a medical imaging group at UPenn. Even though I waited longer to start looking than most people, there still seem to be a lot of good choices available on the lab group front. I have even started to see some action on the dating front.
On the medical school front, I have begun to fill out the AMCAS for next year. I seriously regret not doing this last year, because all of my friends in IMS who did submit it have gotten in, even some who i believe were weaker candidates than me. Not really a big deal in the big picture though, as I am happy about where I am now and very optimistic about the next year.