We said last week that Michael Milken of Drexel Burnham Lambert fame settled charges of securities violations by paying a fine of $447m (€456m) and that his former firm paid a fine of $650m. We would like to apologise for this error. Milken paid $200m in personal fines, and the $650m remains the largest single settlement in US history.

After extended correspondence with Milken's office, we would also like to highlight Milken's philanthropy, commitment to the fight against cancer (both of which are unquestioned) and make clear that Milken is largely responsible for the US economic miracle and writes great healthy-eating cookery books.