ABSTRACT By means of the high ratings that they awarded to subprime mortgage‐backed bonds, the three major rating agencies—Moody's, Standard & Poor's, and Fitch—played a central role in the current financial crisis. Without these ratings, it is doubtful that subprime mortgages would have been issued in such huge amounts, since a major reason for the subprime lending boom was investor demand for high‐rated bonds—much of it generated by regulations that made such bonds mandatory for large institutional investors. And it is (...) even less likely that such bonds would have become concentrated on the balance sheets of the banks, for which they were rewarded by capital regulations that tilted toward high‐rated securities. Why, then, were the agencies excessively optimistic in their ratings of subprime mortgage‐backed securities? A combination of their fee structure, the complexity of the bonds that they were rating, insufficient historical data, some carelessness, and market pressures proved to be a potent brew. This combination was enabled, however, by seven decades of financial regulation that, beginning in the 1930s, had conferred the force of law upon these agencies' judgments about the creditworthiness of bonds and that, since 1975, had protected the three agencies from competition. (shrink)

The primary sequence of two subunits of the rod and one subunit of the cone cGMP-gated channel have been described, but describing how structure determines function is only just beginning. The discovery that the affinity of the rod channel for its agonist can be modulated indicates that the relationship between intracellular cGMP and the channel's open probability (current) during the course of the photoresponse may be more complex than previously thought.

Introduction.--Aristotle.--The seventeenth century.--The eighteenth century.--Biology.--Nature.--Evolution.--The problem.--The three elements.--The teleological order.--Appendix: Clerk Maxwell on determinism and free will. Fechner on the tendency to stability.

Revision of thesis (Ph. D.)--U.C.L.A., 1982?Includes index. Bibliography: p. 151-156.

Aquinas’s Five Ways are not to be understood as demonstrative proofs, successful or not, for the existence of God. Rather, they provide a necessary step towards supplying licensable surrogates for the essential predications that cannot logically be drawn from the incomprehensible nature of God, yet would seem needed for the Summa’s declared genre of argued theology. (Predication secundum analogiam provides surrogates for non-relational accidental predications, likewise unavailable.) What Aquinas is proving in arguing deum esse in ST I.2.3 is not God’s (...) actual existence (see ST I.3.4 ad 2) but an alternative interpretation of “God’s being something” where “God is something” is a placeholder for, say, “God is prime mover” or, more explicitly, for such (necessary) identities as “The prime mover is the necessitated necessitator,” an identity whose necessity depends at more than one place on the assumption of God’s existence from faith, not on demonstrative proof of God’s existence. (shrink)

Many philosophers assume that the principle of double effect (PDE) is meant to cover trolley cases. In fact, trolley cases come from PDE’s critics, not its defenders. When philosophers stretch PDE to explain intuitions about trolley cases, they define intended effects too broadly. More importantly, trolley cases make poor illustrations of PDE because they focus attention away from the agent and onto the victim. When philosophers lose sight of the agent, some intuitions that fit PDE survive, but the rational basis (...) of these intuitions collapses. I avoid these problems by defending a minimalist, agent-based version of PDE. My version is minimalist because I do not try to turn PDE into a complete checklist that explains intuitions about every case. It is agent-based because I consider the agent’s perspective to define intentions and to make moral judgments. (shrink)

RNA editing is a newly described genetic phenomenon. It encompasses widely different molecular mechanisms and events. According to the specific RNA modification, RNA editing can be broadly classified into six major types. Type II RNA editing occurs in plants and mammals; it consists predominantly in cytidine to uridine conversions resulting from deamination/transamination or transglycosylation, although in plants other mechanisms have not been excluded. Apolipoprotein B mRNA editing is the only well‐documented editing phenomenon in mammals. It is an intranuclear event that (...) occurs posttranscriptionally, coincident with splicing and polyadenylation. Recent observations indicate that the tissue‐ and sequence‐specific process is mediated by an enzyme that has separate domains for editing and sequence recognition. The presence of apolipoprotein B mRNA editing activity in tissues that do not produce the protein suggests that other RNAs may be edited and RNA editing may be a genetic phenomenon of general biological importance to the cell. (shrink)

This paper advances reasons why lucid dreaming is considered problematic to the psychoanalytic venture. It is shown that the conscious thought mechanism of lucid dreaming is obstructive and in opposition to the repressed and therefore conflictual within the unconscious parameters. A negative value is attached to the mechanism of lucid dreaming which is presented as an ill-advised endeavor that undermines meaning through its promotion of conscious interference and ego inhibition of dream symbolism. Viewed as a deterrent to self-knowledge and the (...) interpretative process of working through, lucid dreaming does not advance an authentic inner presentation and is therefore of no interest to the betterment of the psyche. At the core of the argument is the significance of the willful autonomy of an ego-conscious presence on the continuance of the dream schematic. (shrink)

Approaches bioethics on the basis of a conception of life and what is needed for the affirmation of its quality in the most encompassing sense. Johnson applies this conception to discussions of controversial issues in bioethics including euthanasia, abortion, cloning and genetic engineering. His emphasis is not on providing definitive solutions to all bioethical issues but on developing an approach to coping with them that can also help us deal with new issues as they emerge. The foundation of this discussion (...) is an extensive examination of the nature of the self and its good and of various approaches to ethics. His bioethic is integrally related to his well-known work on environmental philosophy. The book also applies these principles on an individual level, offering a user-friendly discussion of how to deal with ethical slippery slopes and how and where to draw the line when dealing with difficult questions of bioethics. (shrink)

Both John Henry Newman and Vincent Gasser offered influential interpretations of the First Vatican Council’s teaching on infallibility. In contrast to many of theircontemporaries, Gasser and Newman placed papal infallibility alongside episcopal infallibility and the infallibility of the Catholic faithful. After exploring the views of Gasser and Newman, this essay compares their views to the Second Vatican Council’s teaching on infallibility in Lumen Gentium and concludes that even though Lumen Gentium cited Gasser, its theology is closer to Newman’s.

In lieu of an abstract, here is a brief excerpt of the content:Bringing Cancer Care to Those who Don't Have ItLawrence N. ShulmanI have been treating cancer patients in the Harvard Medical School hospitals since 1977, and in those 35 years we have made tremendous progress. Though work still needs to be done, and far too many patients still die of cancer, many are cured. In particular, children and young adults have a high rate of cure from such diseases as (...) Hodgkin's lymphoma, non-Hodgkin's lymphoma, acute lymphoblastic leukemia, and childhood sarcoma. Patients with breast cancer in the US have a greater than 80% chance for long-term survival. The death rate from cervical cancer in the US is very low. These results have been achieved by making diagnoses earlier, in many cases surgical excision, and often systemic therapies such as chemotherapy, hormonal therapy, radiation therapy, and more recently by using so-called "targeted" therapies—those directed at particular molecular characteristics of the cancer cells.Princess Dina Mired has said that the opportunity to survive cancer should not be an accident of geography. In cases where we already have effective and inexpensive tools to cure cancer, these treatments should be considered a basic human right, a life-saving medical service.I met Patty, a young woman living in the U.S. during November of her senior year in high school, after she discovered a small lump above her left collar bone. Though she felt entirely well, she called her primary care doctor who saw her the next day, felt the enlarged lymph node, and referred her to a surgeon, who did a biopsy later that week. Her primary care doctor also called me, and we scheduled a visit when the pathology results were available. The following week the pathologist notified Patty's pediatrician that the biopsy showed Hodgkin's lymphoma. When I met Patty, she was a bright and focused young woman, waiting to hear about her college applications and enjoying her senior year. Her cancer diagnosis was completely out of context with her life as she planned it, but with the support of her family and boyfriend, she seemed prepared to take things one step at a time. A PET CT scan demonstrated a modest mass in the mediastinum (chest), but no other disease. She was in an early stage of the disease with an excellent prognosis. We recommended and administered six months of chemotherapy with doxorubicin, bleomycin, vinblastine, and dacarbazine—four chemotherapy agents that are off-patent, and relatively inexpensive. She lost her hair, not a trivial issue for her, but otherwise felt reasonably well during the treatment. She was determined to graduate with her classmates, and was able continue to attend school and keep up with her work. In June, seven months into her cancer diagnosis and treatment, she graduated with honors, and was on track to enroll in college in September.Like other 18-year-old women with Hodgkin's lymphoma, Patty had an over 80% chance for cure with the potential for a long and productive life ahead of her because we could perform a biopsy, make a diagnosis, and safely and effectively treat her with four inexpensive, off-patent, chemotherapy drugs. She had nearly the same likelihood of living a long and fruitful life as her classmates, and had the same chances for childbearing. In my line of work, with the knowledge we now possess, to allow someone like Patty to die without a chance of curative care is simply unacceptable. Treatment of curable cancers should be considered on par with the right to clean water, adequate nutrition, treatment for infectious disease, and access to maternal and child healthcare services.But in many places in the world, people with cancers we could easily eradicate in Boston have no access to cancer services, and do die unnecessarily. The local healthcare infrastructure has no [End Page E10] capacity to evaluate a patient, perform or process a biopsy, make a diagnosis, or treat the patient with potentially curative surgery, chemotherapy and radiation. I have rounded on the wards of hospitals in developing countries, stopping to talk with numerous patients like Patty: young women, some of whom might have had Hodgkin's lymphoma, but no... (shrink)

Mathematical physics works by representing the contents of the world and the world’s dynamical changes by the components of some mathematical structure and the transformations one can impose on these components. Quite rightly, philosophers of science have concentrated much attention on trying to understand how physicists arrive at the appropriate transformational rules to represent dynamical evolution in the world, that is, on how they find the correct laws of nature. But the preliminary problem, how to choose the appropriate mathematical representatives (...) for the things of the world and their states of being, has received, perhaps, less attention than it deserves. (shrink)