The Beauty of Bankruptcy

How to think about the coming Chapter 11 epidemic.

In 19th-century English novels, bankruptcy is a tragedy that just happens to people, often with no real explanation, as though it were a natural disaster or an unexpected infection, a cartoon anvil out of the sky over the head of some poor Wile E. Coyote in Regency garb. Bankruptcy was on the mind of everyone from Charles Dickens to William Makepeace Thackeray to George Eliot to Anthony Trollope, and it is a major plot point in Dombey and Son, Vanity Fair, and The Mill on the Floss, among many other novels. The threat of bankruptcy produces suicides in The Way We Live Now and in Little Dorrit — such was its terror.

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By Elijah J. Magnier: @ejmalrai

Recently, Israel claimed Iran was withdrawing its forces from Syria following the repetitive airstrikes Tel Aviv jets carried out from above Lebanon and additionally violating Iraqi air space. Furthermore, Israeli officials seem to believe that Iran can’t accept being challenged in Syria, yet is still far from seeking revenge anytime soon. This is Israeli wishful thinking, wanting to drag Iran into a confrontation according to Tel Aviv’s own terms and timetable. This tactic to drag Iran into the war seems to be supported both by Israel and the US, offering President Donald Trump the potential victory he needs for his forthcoming election. It follows his personal failure, and that of his administration, in dealing with the COVID-19 pandemic. But Iran is not walking into this trap.

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Iraq Chooses New Prime Minister, an Ex-Security Chief Backed by U.S.

Iraq Chooses New Prime Minister, an Ex-Security Chief Backed by U.S.

Iraq’s Parliament chose an American-backed former intelligence chief as the new prime minister early Thursday morning, giving the country its first real government in more than five months as it confronts an array of potentially crippling crises.
The prime minister, Mustafa Khadimi, 53, who has both strong ties to the Americans and a reputation for pragmatism, was seen as acceptable to Iran, the other major foreign power competing for influence in Iraq.

COVID-19 and the High Cost of Dying

COVID-19 and the High Cost of Dying

If the FDA approves remdesivir for treating Covid-19, which is by no means guaranteed, Gilead will be able to charge what it likes until 2037. Until then, you can forget about a cheap generic version of the drug.


Joe Grogan, Trump’s Top Domestic Policy Aide, Leaving White House Next Month

Grogan — who worked as a lobbyist for drugmaker Gilead prior to his time at the White House — has played a significant role in crafting major health policies, including drug pricing, for the Trump administration.