Monday, 24 December 2007

News update

Two recent news stories caught my eye.

The first concerns Toby Daglish from New Zealand, a professor at the Victoria University in Wellington.

Toby was previously at the University of Iowa in the United States, and whilst there he was one of three finance academics who foresaw the looming U.S. subprime mortgage crisis at least three years before the problems started to become public early in 2007.

Late in 2004 he bought a house in Iowa City and arranged a mortgage through a small regional bank. “I was thinking I was going to have to pay mortgage insurance there - but the lady from the bank said, “Oh, we’re having a promotion this month, and you don’t have to buy mortgage insurance”. I remember thinking that’s not a very sound way to run your business.”

This experience led to the study which highlighted concerns with sectors of the US mortgage business.

Full story here.

The second story comes from Visilia, a city in central California, where Dr. Thomas Daglish has been named as Tulare County Physician of the Year. Dr. Daglish has lobbied tirelessly to improve health provision.

The report notes that Dr. Daglish came to Visalia from Canada in 1979. He started an obstetrics practice that eventually evolved into the Visalia Family Practice Medical Group. He now practices general medicine.

"There's always new challenges," he said. "And there's always somebody coming up with some strange legislation that is going to impact the delivery of health care."

While he said his work in organized medicine has made a positive impact over the years, Daglish admitted that "in politics, you never get 100 percent what you want." He said he will not stop lobbying to improve the public's health.

"As long as I'm capable of doing it, I think it's worth it to keep fighting," Daglish said.

Full report here.

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