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...government, led by Henry Paulson, forced large banks to take TARP money that they did not need. He made sure that the taxpayers received preferred shares in the firms in exchange for the capital. After Paulson retired the new administration began testing the banks, knowing that, based on the criteria they had set, many of the firms would fail. The credit markets are harsh. The troubled banks would find it nearly impossible to raise capital from private equity sources. They would turn to the government. The government would convert its preferred shares to common shares to buttress the bank balance...

Author: /time Magazine | Title: The Curtain Comes Down on Bank Stress Tests | 5/7/2009 | See Source »

...patients selected for a run-of-the-mill drug-company trial for a new antidepressant - the very trials on which the Food and Drug Administration bases its decisions regarding new drug approval. Drawing on their own experiences in helping to conduct such trials, which have far more stringent inclusion criteria than the STAR*D group, Wisniewski and his team divided the STAR*D patients into two groups - an "efficacy" sample of patients who would normally be included in a typical Phase III clinical trial for a new antidepressant and a "nonefficacy" sample of patients who would normally be rejected...

Author: /time Magazine | Title: Why Antidepressants Don't Live Up to the Hype | 5/6/2009 | See Source »

...heart disease) and no more than one additional primary psychiatric disorder besides depression. All patients with multiple comorbidities - along with anyone whose depression had lasted more than two years - were excluded. Once the authors crunched all the numbers, they found that only 22% of STAR*D patients met entry criteria for a conventional antidepressant trial...

Author: /time Magazine | Title: Why Antidepressants Don't Live Up to the Hype | 5/6/2009 | See Source »

...STAR*D patients were taking citalopram, an SSRI marketed in North America as Celexa. Not surprisingly, those who met standard inclusion criteria for a clinical trial had significantly better outcomes on the drug. In the efficacy group, 52% responded to Celexa vs. 40% of the nonefficacy group. Patients in the latter group also took longer to respond and had to be readmitted to psychiatric settings more often. "Thus," the authors conclude, "current efficacy trials suggest a more optimistic outcome than is likely in practice, and the duration of adequate treatment suggested by data from efficacy trials may be too short...

Author: /time Magazine | Title: Why Antidepressants Don't Live Up to the Hype | 5/6/2009 | See Source »

...authors cite a smaller 2002 study that arrived at similar results: in that paper, published in the American Journal of Psychiatry, Dr. Mark Zimmerman of Brown University and his colleagues found that of 315 patients with major depressive disorder who sought care, only 29, or 9.2%, met typical criteria for an efficacy trial. Similarly, psychologist Ronald Kessler of Harvard co-authored a 2003 paper in the Journal of the American Medical Association that concluded that most "real world" patients with major depression would be excluded from clinical trials because of comorbidities...

Author: /time Magazine | Title: Why Antidepressants Don't Live Up to the Hype | 5/6/2009 | See Source »

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