5 Things Friday
1. QUOTE OF NOTE
MI Senior Fellow Ed DeMarco: Put Fannie and Freddie Out of Taxpayers’ Misery
Seven years after the housing market crash, why is the American public still on the hook for three out of every four new mortgages? DeMarco, a senior fellow in residence at the Milken Institute, writes about the need to remove taxpayer risk from the housing finance system in The Wall Street Journal.
2. CHART GALLERY
Managing Risk in Drug Development
There is large variance in how long it takes for a drug to be approved. This creates financial risk for drug developers and investors. Milken Institute Senior Fellow Tomas J. Philipson shows the share of products on which the FDA has yet to rule, both before and after passage of the Prescription Drug User Fee Act of 1992 (PDUFA I) and the amended Act of 1997 (PDFUA II). These allowed the FDA to charge fees that cover the cost of speeding the review process. Read more in the Milken Institute Review.
3. FasterCures on Advancing the Science of Patient Input
No longer just passengers, patients are now co-pilots, helping to navigate the future of medical progress.
4. SMART READS
FinTech in Focus
Check out FinTech in Focus, a new weekly compilation of must-read stories about the expanding role of technology in financial services. Read more.
5. VIEWS YOU CAN USE
Nurturing a Film and TV Industry Cluster: More Than Just Incentives
There’s been debate about incentive programs that give film producers tax breaks. Are they cost-effective? How long do the jobs they create last? What are their concrete effects on industry development? We’ve found that when a region is working to expand its entertainment and media activity, focusing solely on incentives is inadequate and may mask other factors required for a thriving industry. “Strategies for Growing the Pittsburgh Media Cluster” shows that building state-of-the-art infrastructure and developing a deep pool of skilled local talent are keys to long-term success. Read more.