Word: spreads
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...corporate credit unions, corporates still fill an important role in providing liquidity and other sorts of services - like check-processing - to the industry, especially to smaller outfits. Were a corporate credit union to fail, the industry would feel it. No one knows how far the impact would spread, and whether it would trigger the collapse of any retail credit unions. In 1995, Capital Corporate Credit Union, which serviced the White House and Pentagon employee credit unions, failed because of heavy investments in - wait for it - collateralized mortgage obligations. It cost 483 retail credit unions an estimated $25 million...
While the older, umbrella vaccine has proven effective in the past, Dr. Lo says it may be losing its potency as newer strains of the virus spread around the region. A new study by University of Hong Kong microbiologists of a virus outbreak earlier this year found that chickens that had been vaccinated against the H5 virus had only one-quarter as many antibodies as those vaccinated in 2001. Yuen Kwok-yung, head of the University's microbiology department and an expert on avian flu, warned recently that the vaccine may be approaching total failure...
...among its poultry population since the mid-1990s, the largest outbreak occurring in 1997 when eighteen people in Hong Kong came down with the virus. Outbreaks also occurred in 2001 and 2002, leading to the culling and destruction of millions of possibly-infected fowl. By 2003, the strain had spread to much of Asia's bird population. "It remains a serious pandemic threat," says Bridges. "It has a 100% mortality rate among poultry, but so far we are not seeing the type of molecular changes required to jump to humans...
Today's influenza vaccine contains three strands of the virus, as determined by the World Health Organization (WHO). A global network of scientists survey the virus's mutations over the course of a year. "They see how the virus is changing, where it's changing, and the geographic spread of the new variance," says Bridges. The WHO holds two vaccine strategy meetings each year, one for the northern hemisphere (in February) and one for the Southern (in September). As soon as the organization announces which influenza subtypes should be targeted by the vaccine, medical labs work furiously to develop...
...clashes rarely grow as big as those that have wracked Greece for the past two days. They began when police shot dead a 15-year-old boy in Exarchia on the night of Saturday Dec. 6. That killing sparked riots that spread to at least a dozen towns and cities across the country and have so far left 67 people injured, including 37 police officers. Protesters have destroyed at least 17 banks and set fire to dozens of shops and cars. It is the worst political violence in Greece in 17 years. (See pictures of the riots in Greece...