Word: feds
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...refusing to pay its debt to the U.N., the U.S. is abandoning its pledge to international peace. The U.N. has in its 50 years fed and sheltered millions of refugees and eradicated smallpox from the world. Although the U.N. seems to be ineffective, it is as effective as possible while respecting individual sovereignty. Its largest problem has been the unrealistic goals set by the Security Council, of which the U.S. is a member. While the Security Council writes the mandates, in the future it must also provide the resources to enforce these mandates...
...SOUTH SIDE OF CHICAGO, Helen Miller struck another unlikely blow for organized labor last summer. Miller, a member of the service-employees union who spends seven hours a day tending to a tube-fed stroke victim, fought for and won a change in Illinois law that raised the hourly wages for state-paid, home-health-care aides from $3.35 to $5. As the head of volunteer action for the union local, Miller was the first nurse's aide to testify on behalf of the bill. Now she spends her free time organizing home-health-care workers to demand medical benefits...
ANYONE PONDERING HIS OR HER SUNSET YEARS WILL REMEMBER THE expose of the shocking conditions in nursing homes circa 1970. Woefully undertrained workers strapped patients to hard-backed chairs, fed them cheap diets and kept them in a whimpering state of sedation. There were tales of urine-soaked hospital gowns and of false teeth collected at night and thrown into a communal vessel that patients had to fish through in the morning. All this and more was documented by the National Academy of Sciences in 1986. The next year Congress passed legislation to address decades of abuse of the elderly...
...Iguchi confession was the second revelation last week to batter the once towering reputation of Tokyo's banking system. Three days earlier, Jim Leach, chairman of the U.S. House Banking Committee, had disclosed that the Fed had agreed to come to the rescue if a liquidity crisis beset U.S. subsidiaries of Japan's banks. The news provoked concern among government officials in both countries. Tokyo feared that breaching the agreement's secrecy would create financial-market anxiety by raising more questions about Japanese banking stability. The Fed's portrayal of the agreement as virtually risk free raised hackles in Washington...
...business. Japan's banks are now usually charged a premium of 0.3% to 0.4% for their international interbank borrowing. After Iguchi spoke in court, however, the "Japan premium" nearly doubled for the more troubled Japanese banks. The premium had also edged higher after Leach revealed the existence of the Fed's agreement with Tokyo. The U.S. move had a double-edged effect--while it served to reassure financial markets of an emergency backstop for Tokyo, it also implied that Japan's banks must be in serious trouble...