Death sentences in 2008 Chinese tainted milk scandal

Monday, January 26, 2009

On Thursday, the municipal intermediate people’s court in Shijiazhuang, Hebei province, China pronounced sentences for 21 defendants implicated in the 2008 Chinese milk scandal which killed at least six infants and sickened nearly 300,000 others.

In the local court’s decision, 17 accused were indicted for the crimes of “producing, adding melamine-laced ‘protein powder’ to infant milk or selling tainted, fake and substandard milk to Sanlu Group or 21 other dairy companies, including six who were charged with the crime of endangering public security by dangerous means.” Four other courts in Wuji County, in Hebei, China had also tried cases on the milk scandal.

Zhang Yujun, age 40, of Quzhou County (Hebei), who produced and sold melamine-laced “protein powder” in the milk scandal, was convicted of endangering public security and sentenced to death by the Shijiazhuang intermediate people’s court.

The court also imposed the penalty of death upon Geng Jinping, who added 434 kg of melamine-laced powder to about 900 tons of fresh milk to artificially increase the protein content. He sold the tainted milk to Sanlu and some other dairy companies. His brother Geng Jinzhu was sentenced to eight years imprisonment for assisting in adding the melamine.

A suspended capital punishment sentence, pending a review, with two years probation, was handed down to Gao Junjie. Under the law, a suspended death sentence is equivalent to life imprisonment with good behavior. The court ruled that Gao designed more than 70 tons of melamine-tainted “protein powder” in a Zhengding County underground factory near Shijiazhuang. His wife Xiao Yu who assisted him, was also sentenced to five years imprisonment.

Sanlu Group General Manager Tian Wenhua, 66, a native of Nangang Village in Zhengding County, who was charged under Articles 144 and 150 of the criminal code, was sentenced to life imprisonment for producing and selling fake or substandard products. She was also fined 20 million yuan (US$2.92 million) while Sanlu, which has been declared bankrupt, was fined 49.37 million yuan ($7.3 million).

Tian Wenhua plans to appeal the guilty verdict on grounds of lack of evidence, said her lawyer Liang Zikai on Saturday. Tian testified last month during her trial that she decided not to stop production of the tainted milk products because a Fonterra designated board member handed her a document which states that a maximum of 20 mg of melamine was allowed in every kg of milk in the European Union. Liang opined that Tian should instead be charged with “liability in a major accident,” which is punishable by up to seven years imprisonment, instead of manufacturing and selling fake or substandard products.

According to Zhang Deli, chief procurator of the Hebei Provincial People’s Procuratorate, Chinese police have arrested another 39 people in connection with the scandal. Authorities last year also arrested 12 milk dealers and suppliers who allegedly sold contaminated milk to Sanlu, and six people were charged with selling melamine.

In late December, 17 people involved in producing, selling, buying and adding melamine to raw milk went on trial. Tian Wenhua and three other Sanlu executives appeared in court in Shijiazhuang, charged with producing and selling fake or substandard milk contaminated with melamine. Tian pleaded guilty, and told the court during her 14-hour December 31 trial that she learned about the tainted milk complaints and problems with her company’s BeiBei milk powder from consumer complaints in mid-May.

She then apparently led a working team to handle the case, but her company did not stop producing and selling formula until about September 11. She also did not report to the Shijiazhuang city government until August 2.

The court also sentenced Zhang Yanzhang, 20, to the lesser penalty of life imprisonment. Yanzhang worked with Zhang Yujun, buying and reselling the protein powder. The convicts were deprived of their political rights for life.

Xue Jianzhong, owner of an industrial chemical shop, and Zhang Yanjun were punished with life imprisonment and 15 years jail sentence respectively. The court found them responsible for employment of workers to produce about 200 tons of the tainted infant milk formula, and selling supplies to Sanlu, earning more than one million yuan.

“From October 2007 to August 2008, Zhang Yujun produced 775.6 tons of ‘protein powder’ that contained the toxic chemical of melamine, and sold more than 600 tons of it with a total value of 6.83 million yuan [$998,000]. He sold 230 tons of the “protein powder” to Zhang Yanzhang, who will stay behind bars for the rest of his life under the same charge. Both Zhangs were ‘fully aware of the harm of melamine’ while they produced and sold the chemical, and should be charged for endangering the public security,” the Court ruled.

Geng Jinping, a suspect charged with producing and selling poisonous food in the tainted milk scandal, knelt before the court, begging for victims’ forgiveness

The local court also imposed jail sentences of between five years and 15 years upon three top Sanlu executives. Wang Yuliang and Hang Zhiqi, both former deputy general managers, and Wu Jusheng, a former raw milk department manager, were respectively sentenced to 15 years, eight years and five years imprisonment. In addition, the court directed Wang to pay multi-million dollar fines. In December, Wang Yuliang had appeared at the Shijiazhuang local court in a wheelchair, after what the Chinese state-controlled media said was a failed suicide attempt.

The judgment also states “the infant milk powder was then resold to private milk collectors in Shijiazhuang, Tangsan, Xingtai and Zhangjiakou in Hebei.” Some collectors added it to raw milk to elevate apparent protein levels, and the milk was then resold to Sanlu Group.

“The Chinese government authorities have been paying great attention to food safety and product quality,” Yu Jiang Yu, spokesperson for the Ministry of Foreign Affairs, said. “After the case broke out, the Chinese government strengthened rules and regulations and took a lot of other measures to strengthen regulations and monitor food safety,” she added.

In the People’s Republic of China, the intermediate people’s court is the second lowest local people’s court. Under the Organic Law of the People’s Courts of the People’s Republic of China, it has jurisdiction over important local cases in the first instance and hear appeal cases from the basic people’s court.

The 2008 Chinese milk scandal was a food safety incident in China involving milk and infant formula, and other food materials and components, which had been adulterated with melamine. In November 2008, the Chinese government reported an estimated 300,000 victims have suffered; six infants have died from kidney stones and other acute renal infections, while 860 babies were hospitalized.

Melamine is normally used to make plastics, fertilizer, coatings and laminates, wood adhesives, fabric coatings, ceiling tiles and flame retardants. It was added by the accused to infant milk powder, making it appear to have a higher protein content. In 2004, a watered-down milk resulted in 13 Chinese infant deaths from malnutrition.

The tainted milk scandal hit the headlines on 16 July, after sixteen babies in Gansu Province who had been fed on milk powder produced by Shijiazhuang-based Sanlu Group were diagnosed with kidney stones. Sanlu is 43% owned by New Zealand’s Fonterra. After the initial probe on Sanlu, government authorities confirmed the health problem existed to a lesser degree in products from 21 other companies, including Mengniu, Yili, and Yashili.

From August 2 to September 12 last year Sanlu produced 904 tonnes of melamine-tainted infant milk powder. It sold 813 tonnes of the fake or substandard products, making 47.5 million yuan ($13.25 million). In December, Xinhua reported that the Ministry of Health confirmed 290,000 victims, including 51,900 hospitalized. It further acknowledged reports of “11 suspected deaths from melamine contaminated milk powder from provinces, but officially confirmed 3 deaths.”

Sanlu Group which filed a bankruptcy petition, that was accepted by the Shijiazhuang Intermediate People’s Court last month, and the other 21 dairy companies, have proposed a 1.1 billion yuan ($160 million) compensation plan for court settlement. The court appointed receiver was granted six months to conclude the sale of Sanlu’s assets for distribution to creditors. The 22 dairy companies offered “families whose children died would receive 200,000 yuan ($29,000), while others would receive 30,000 yuan ($4,380) for serious cases of kidney stones and 2,000 yuan ($290) for less severe cases.”

Sanlu stopped production on September 12 amid huge debts estimated at 1.1 billion yuan. On December 19, the company borrowed 902 million yuan for medical and compensation payment to victims of the scandal. On January 16, Sanlu paid compensation of 200,000 yuan (29,247 U.S. dollars) to Yi Yongsheng and Jiao Hongfang, Gangu County villagers, the parents of the first baby who died.

“Children under three years old, who had drunk tainted milk and had disease symptoms could still come to local hospitals for check-ups, and would receive free treatment if diagnosed with stones in the urinary system,” said Mao Qun’an, spokesman of the Ministry of Health on Thursday, adding that “the nationwide screening for sickened children has basically come to an end.”

“As of Thursday, about 90% of families of 262,662 children who were sickened after drinking the melamine-contaminated milk products had signed compensation agreements with involved enterprises and accepted compensation,” the China Dairy Industry Association said Friday, without revealing, however, the amount of damages paid. The Association (CDIA) also created a fund for payment of the medical bills for the sickened babies until they reach the age of 18.

Chinese data shows that those parents who signed the state-backed compensation deal include the families of six children officially confirmed dead, and all but two of 891 made seriously ill, the report said. Families of 23,651 children made ill by melamine tainted milk, however, have not received the compensation offer, because of “wrong or untrue” registration details, said Xinhua.

Several Chinese parents, however, demanded higher levels of damages from the government. Zhao Lianhai announced Friday that he and three other parents were filing a petition to the Ministry of Health. The letter calls for “free medical care and follow-up services for all victims, reimbursement for treatment already paid for, and further research into the long-term health effects of melamine among other demands,” the petition duly signed by some 550 aggrieved parents and Zhao states.

“Children are the future of every family, and moreover, they are the future of this country. As consumers, we have been greatly damaged,” the petition alleged. Chinese investigators also confirmed the presence of melamine in nearly 70 milk products from more than 20 companies, quality control official Li Changjiang admitted.

In addition, a group of Chinese lawyers, led by administrator Lin Zheng, filed Tuesday a $5.2 million lawsuit with the Supreme People’s Court of the People’s Republic of China (under Chief Grand Justice Wang Shengjunin), in Beijing, on behalf of the families of 213 children’s families. The class-action product liability case against 22 dairy companies, include the largest case seeking $73,000 compensation for a dead child.

According to a statement to the Shanghai Stock Exchange Market Friday, China’s Inner Mongolia Yili Industrial Group Company, which has a domestic market share of milk powder at 8 percent, reported a net loss in 2008 because of the milk scandal. A Morgan Stanley report states the expected company’s 2008 loss at 2.3 billion yuan. The scandal also affected Yili’s domestic rivals China Mengniu Dairy Company Limited and the Bright Group. Mengniu suffered an expected net loss of 900 million yuan despite earnings in the first half of 2008, while the Bright Group posted a third quarter loss at 271 million yuan last year.

New Zealand dairy giant Fonterra, said Saturday it accepted the Chinese court’s guilty verdicts but alleged it had no knowledge of the criminal actions taken by those involved. “We accept the court’s findings but Fonterra supports the New Zealand Government’s position on the death penalty. We have been shocked and disturbed by the information that has come to hand as a result of the judicial process,” said Fonterra Chief Executive Andrew Ferrier.

“Fonterra deeply regrets the harm and pain this tragedy has caused so many Chinese families,” he added. “We certainly would never have approved of these actions. I am appalled that the four individuals deliberately released product containing melamine. These actions were never reported to the Sanlu Board and fundamentally go against the ethics and values of Fonterra,” Ferrier noted.

Fonterra, which controls more than 95 percent of New Zealand’s milk supply, is the nation’ biggest multinational business, its second-biggest foreign currency earner and accounts for more than 24 percent of the nation’s exports. Fonterra was legally responsible for informing Chinese health authorities of the tainted milk scandal in August, and by December it had written off its $200 million investment in Sanlu Group.

Amnesty International also strongly voiced its opposition to the imposition of capital punishment by the Chinese local court and raised concerns about New Zealand’s implication in the milk scandal. “The death penalty will not put right the immense suffering caused by these men. The death penalty is the ultimate, cruel and inhumane punishment and New Zealand must take a stand to prevent further abuses of human rights.” AI New Zealand chief executive Patrick Holmes said on Saturday.

“The New Zealand government does not condone the death sentence but we respect their right to take a very serious attitude to what was extremely serious offending,” said John Phillip Key, the 38th and current Prime Minister of New Zealand and leader of the National Party. He criticized Fonterra’s response Monday, saying, “Fonterra did not have control of the vertical production chain, in other words they were making the milk powder not the supply of the milk, so it was a difficult position and they did not know until quite late in the piece. Nevertheless they probably could front more for this sort of thing.”

Keith Locke, current New Zealand MP, and the opposition Green Party foreign affairs spokesman, who was first elected to parliament in 1999 called on the government and Fonterra to respond strongly against the Chinese verdict. “They show the harshness of the regime towards anyone who embarrasses it, whether they are real criminals, whistleblowers or dissenters,” he said. “Many Chinese knew the milk was being contaminated but said nothing for fear of repercussions from those in authority. Fonterra could not get any action from local officials when it first discovered the contamination. There was only movement, some time later, when the matter became public,” he noted.

Green Party explained “it is time Fonterra drops its overly cautious act.” The party, however, stressed the death penalty is not a answer to the problems which created the Chinese milk scandal. “The Green Party is totally opposed to the death penalty. We would like to see the government and, indeed, Fonterra, speaking out and urging the Chinese government to stop the death penalty,” said Green Party MP Sue Kedgley.

Retrieved from “https://en.wikinews.org/w/index.php?title=Death_sentences_in_2008_Chinese_tainted_milk_scandal&oldid=4520113”

Beer The New Sports Drink?

Beer the New Sports Drink?

by

Stan Schubridge

Here s something from the Beertaps.com WTF file: Beer replacing Gatorade for athletes. Before you put on your running shoes, hold on. This brew is supposedly non-alcoholic. Please return to your couches.

This newest marketing brainstorm comes from Erdinger Alkoholfrei, the Bavarian brewer. They were at the Berlin marathon at the end of September, 2012.

As a sponsor and loyal partner of the Berlin Marathon, the Erdinger Brewery is at the start. Equipped with more than 60,000 bottles of alcohol ERDINGER welcomes all finishers of the skaters race they write on their blog.

The maker of the sport-suds says that the beer is full of vitamins. Obviously, it is carb-rich, promoted as a beverage that athletes can drink without getting the shakes from an energy drink or the whirl from a regular beer.

[youtube]http://www.youtube.com/watch?v=LDc4xzK9esA[/youtube]

This gold-colored stuff is supposedly alcohol-free. That s a little misleading. Alkoholfrei still has less than 0.5% alcohol. Sorry Maine (and a few other states), people under 21 aren t allowed to enjoy this lovely excuse for a beer.

How s this for a pitch? Peeled from the brewer s Internet site:

Whether at work, before driving or after sports, there are certain occasions where it is wiser to avoid alcohol. For those who don\’t want to miss out on the delicious taste of wheat beer, though, the solution is Erdinger Weissbier \’non-alcoholic\’. It is brewed with the customary care and experience gained from over 125 years of brewing tradition and in accordance with the highest quality standards.

Erdinger\’s master brewers have succeeded in retaining the aromatic, full-bodied Erdinger character. It is this unique flavor which has spread the fame of Erdinger Weissbr u far beyond the borders of Germany.

Erdinger Weissbier \’non-alcoholic\’ thus represents a further top product in the Erdinger range and a genuine alternative to its other specialty wheat beers.

Perhaps the reason for this wacky marketing concept is because sales of non-alcoholic beer have been sliding since the late 90 s. Erdinger is already on-the-shelves in 45 of the states in America. Expect to see ads in the not too distant future targeting this near-beer. The company plans to torque-up their commercial efforts to focus on Alkoholfrei.

This stuff will set you back slightly from its sports drink competition. Not much, though. You ll be able to snatch-up a sixer for around ten-bucks.

Incidentally, while this marketing scheme will be new to the U.S., the brewers have been plugging it elsewhere as a sports drink since 2001.

Stan Schubridge is a freelance writer living in Brooklyn, New York. Stan writes mostly for Beertaps.com which is an eCommerce company out of New York that sells all the

tin beer signs

one could need.

Article Source:

ArticleRich.com

Malaysian government warns citizens about Uncyclopedia

This article mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

Tuesday, January 15, 2008

Satire site Uncyclopedia, a parody of online encyclopedia Wikipedia, has been labeled by the Malaysian government as dangerous. The Internal Security Department of Malaysia issued the warning today, saying that the site has “messages and information insulting Malaysia”.

The warning notes the creation date of the website as being 5 January 2005, and hosted by Wikia, Inc., both of which are correct. However, it claims Wikia owns Wikipedia; Wikipedia is a charitable non-profit website owned by the non-profit Wikimedia Foundation, while Wikia is an independent, for-profit company.

The report evidently mentions that Uncyclopedia covers Malaysian “history, culture, the political leaders, the government, the national song and the name / history of the national flag,” none of which is “correct”. They accuse the website of helping to reinforce a bad international image of their country.

There are no reports of the site being blocked from access within the country, only this statement, which urges Malaysians not to circulate the content.

Uncyclopedia’s article on Malaysia begins:

Essentially the penis of Asia which is located to the north of their cousins who live on an even smaller island Singapore, Malaysia (also known as Bolehland) is a young nation of diverse cultures and races such as F1 Formula-1 and Nascar. The timezone of Malaysia is unique because it follows the system of +1/+2 PMT (Predetermined Meeting Time) which is 1 or 2 hours later than PMT. Most foreigners have difficulty adjusting to this new timezone as they tend to show up 1 or 2 hours earlier than the local counterparts. The nation is moving forward with a vision towards becoming a developed nation by the year 2020, 3030, 4040 or whatever catchy number.

…Another common state that Malaysians have is denial (no lah, where got?), which incidentally, is a river in Egypt.

The site has fired back with a parody article posted at the site under their UnNews section, titled Uncyclopedia Internal Security Department warns on Malaysia. The article suggests that the “Internal Security Department of the Uncyclomedia Foundation,” which is a facetious and fictitious parent organization of Uncyclopedia, identifies Malaysia “as a dangerous country… It warned its people not to use the country today.”

There are forty-seven individual language editions of Uncyclopedia, including Tolololpedia, which is written in Bahasa Melayu, the Malay language. This is in addition to fictional “language” editions which include Oscar Wilde, Newspeak, N00b, White Supremacist, and Re: PharmaccgRy.

Retrieved from “https://en.wikinews.org/w/index.php?title=Malaysian_government_warns_citizens_about_Uncyclopedia&oldid=1408264”

Princeton media class discusses Wikinews

This article mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

Saturday, February 26, 2005

Princeton, New Jersey —According to Ryan Walsh, editor of the websites for both the Princeton Journal of Science and American Foreign Policy, internet news service Wikinews was the topic of a report by Federico Baradello in a Princeton University course on mass media and public policy. The course, offered through the Woodrow Wilson School of Public and International Affairs, studies “the impact of policy on the content, presentation, influence, and technology of a rapidly-evolving 21st century news media,” according to the school.

Walsh, currently a junior at Princeton, characterized the report in an email to Wikinews user Pingswept as “great” and added that “everyone in the class seemed to enjoy learning about Wikinews, and Federico was a great speaker.”

According to an email from Baradello, the report, which took place on Monday, 21 February 2005, provided a “basic overview of its history (evolution), ownership, viewership, and position in the news market.” It included a live demonstration of adding new content to Wikinews. The barebones content provided in the demonstration was developed into this article.

Baradello’s report is available on the course’s blog. His final course paper on the decentralization of news gathering includes a case study on Wikinews with commentary from Jimmy Wales and will be available in PDF form by late May.

Retrieved from “https://en.wikinews.org/w/index.php?title=Princeton_media_class_discusses_Wikinews&oldid=4520272”

Australian Police alerted to child-sex claims at St Stanislaus in 1997

Wednesday, August 27, 2008

Following the escalation of investigations into St Stanislaus College in Bathurst, New South Wales, Australia, Wikinews has obtained a police statement from an alleged victim made in 1997 against priest Brian Joseph Spillane. Spillane is facing 33 charges relating to the allegations.

It had been believed that Bathurst detectives set up Strike Force Header after receiving a complaint from a former St Stanislaus student last year. The complainant came to the police’s attention after he came to Bathurst handing out fliers documenting alleged abuses at the school and providing a link to a website he had set up. St Stanislaus College contacted police and asked them to investigate. Police contacted the alleged victim and asked him if he would like to make a complaint.

In the statement obtained by Wikinews, the same man complained to detectives at Kalgoorlie, Western Australia about abuse by Spillane at St Stanislaus. In the graphic statement, he describes abuse which began following a poker game with the priest at the centre of the allegations. The statement describes further abuses spanning several months.

Bathurst Police refused to comment when contacted about the statement today.

Retrieved from “https://en.wikinews.org/w/index.php?title=Australian_Police_alerted_to_child-sex_claims_at_St_Stanislaus_in_1997&oldid=1838577”

Decorating In The Italian Style

Submitted by: Adam Peters

How to create the Tuscan style of decorating in your kitchen by using accessories and colors in imaginative ways.

The newest rage in decorating schemes is actually an old idea. Many people are now decorating their kitchens in the old Italian styles, such as from Tuscany and Umbria. The earthy colors used in this type of decorating are becoming very popular and when mixed with some of the interesting reproductions of old world art and architectural features they really create a striking room. Here are some great ideas for giving your kitchen the look of the Italian countryside.

Colors

[youtube]http://www.youtube.com/watch?v=iKR9Rcq22Gk[/youtube]

The landscape in the Tuscan countryside contains such colors as golds in the old walls and buildings, deep greens of the poplar trees and the bright colors of the pottery the region is famous for. For a genuine look, you don’t have to invest a lot; just buy one or two accent pieces of Majolica pottery and imitate the colors in this pottery in the rest of your kitchen. You will find that stones of slate or terracotta make perfect choices for flooring or counters, and will pick up the Tuscan colors of your pottery.

Lighting

The lighting in this style is subdued and soft, and newer modern light fixtures would not work. One of the most popular style to recreate the ambiance you want is to choose light fixtures of wrought iron. You may want some brighter lighting in the work area, but a recessed light that does not interfere with the style would be a better idea than something in chrome or stainless steel.

Accessories

You can find a lot of accessories in this style today, since it has become such a popular style. But it is more fun and interesting, and you will have a more unique look if you shop around in antique stores for items that would complement the style and you could picture in an Italian kitchen. Pottery or ceramic bowls, water pitchers and vases can be of real Majolica pottery, or look like it. If you are replacing your dinnerware to go with the kitchen, a set of Majolica ware is a striking way to carry the look all the way through. Some other genuine touches that imitate the Italian kitchen is ropes of garlic hanging by a window, borders with grape vine designs, and a lot of greenery, preferable herbs and small plants in decorative pots.

Using these ideas, you can quickly create a charming kitchen that is warm and cozy and looks like the kitchens we admire in Italy. The rustic colors you desire can be created either by buying new accessories that are reproductions of Tuscan style, or you can scour the antique shops and find pieces that complement this style.

About the Author: Adam Peters is the author of many resources on decoration related topics published at http://www.home-decorating-reviews.com . A focused website that offers the best articles on

italian decorating and italian style

.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=188736&ca=Home+Management

Wikinews Shorts: July 9, 2007

A compilation of brief news reports for Monday, July 9, 2007.

On July 9, 2007, Sony Computer Entertainment America announced the release of an 80GB hard drive version of its PlayStation 3 video game console, priced at US$599.

Sony also announced a price drop to US$499 for its current 60GB model. Jack Tretton, Sony Entertainment America chief executive, said, “Our initial expectation is that sales should double at a minimum.”

Sources

  • “Sony cuts Playstation price in US” — BBC News Online, July 9, 2007
  • Scea. “Sony Computer Entertainment America Introduces New 80GB PLAYSTATION(R)3” — prnewswire, July 9, 2007

Nigerian gunmen have released three-year-old Margaret Hill, after holding her captive for four days. The toddler has since been reunited with her parents. She is reportedly in good health but covered with mosquito bites and also hungry, having not eaten recently.

The kidnappers had threatened to kill the toddler unless a ransom was paid or Mr. Hill came to take her place. The family claims no ransom was paid for her freedom. She was kidnapped from her car on July 5, on her way to school. Her driver was stabbed trying to protect Margaret.

Sources

  • “Nigeria kidnappers free UK girl” — BBC News Online, July 8, 2007
  • “Nigerian captors release British girl” — CNN, July 8, 2007

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_Shorts:_July_9,_2007&oldid=460032”

McCain delays campaign, Obama says continue the debates

Wednesday, September 24, 2008

United States presidential candidate John McCain announced today that he is suspending his campaign and sought to postpone a scheduled debate with his opponent, Barack Obama, to focus on the country’s financial crisis and says that Obama should also suspend his campaign.

McCain said he would be asking president George W. Bush to call a meeting for members of Congress in order to support Bush’s controversial $700 billion bailout plan, but also said that there is no consensus for the proposal and it will not pass in its current form.

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He called the crisis “historic,” stressing the need for legislation and warning of “devastating consequences”.

“I am calling on the president to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself. It is time for both parties to come together to solve this problem. It has become clear that no consensus has developed to support the administration’s proposal and I do not believe that the plan on the table will pass as it currently stands. We are running out of time,” said McCain during a press conference.

Early this morning, Obama had called McCain and asked for the two to put aside partisanship and focus on the economic troubles. The two agreed to issue a joint statement supporting an economic fix, just minutes before McCain made his announcement. Bush is scheduled to speak to the people of the U.S. in a televised speech at 9:01 PM EDT tonight.

Obama responded to McCain’s speech minutes later, confirming that he would still attend the debate. He expressed a desire for fairness to taxpayers and an objection to rewarding those responsible for the financial crisis. Both candidates have stated that they intend to put politics aside to work on the financial crisis. Obama said, a president “is going to have to deal with more than one thing at a time.”

The proposal comes in the wake of Congressional hearings where US Federal Reserve chief Ben Bernanke and Treasury Secretary Henry Paulson have urged support of the measures proposed by the administration. Despite such appeals, both McCain and Obama have expressed skepticism over the proposed bailout, and the U.S. Congress has shown a noted concern that the measure may not benefit ordinary home owners as well as those on Wall Street.

Retrieved from “https://en.wikinews.org/w/index.php?title=McCain_delays_campaign,_Obama_says_continue_the_debates&oldid=946827”

3 Steps To Forex Trading

You have to know these in order to trade the Forex Market.PIPSThis is the smallest fraction of any currency and is used as an incremental/decremental for the currency pair. In dollar currency, 1 pips represent 0.001 Dollar. In Cross trades Japan currency, 1 pips represent 0.01 Yen. Trades are executed by entering the pips of the currency. Profit take and stop loss are measure in terms of pips also. By looking at any currency price chart, you will find the currency values in pips.Currency PairAll Forex are traded in currency pair. One currency is paired with another currency to form a paired currency and using this rate to establish the exchange between to country. Every country have their individual currency note. If you are holding on to United State Dollar and you intend to change it to Europe Euro, you will be using the USD/EUR rate.Buy or SellIn trading of Forex, you will always be holding a currency as the default or holding capital. And use it to buy or sell another currency. Due to the conversion of currency via the foreign exchange market, you can buy another currency and sell it later, or sell another currency first then buy in later. Either way you are still using your default capital money to use for the trade. As a rule of thumb, always buy low sell high, irrelevant of the time involved.Now you know the basic, you can begin trading Forex in 3 simple steps.Step 1Create a trading account with your preferred Forex Broker. The broker am using is InterbankFX Australia and Alpari UK. They are established and provide MT4 platform for trading Forex. The deposit and withdraw are fast and hassle-free.Step 2Fund your capital. Next is to get your money into your newly created trading account. The default holding currency is United States Dollars. While you can choose many other but am using USD as the main currency because of the currency pair that I normal trade are the Major and USD related currency pair.Step 3The last step is to buy and activate the Expert Advisor on your trading account. You can choose a number of program to run but there is a few which I have filtered and give good results in the long run. Simply install your MT4 and run your EA program on your trading account and see your results.The above are 3 simple steps where you dont need to go thru many hours of trading or training to learn Forex. You can see my review of the Forex Broker and the Expert Advisor program at my website. Simply choose your preferred broker, create an trading account, fund your capital, buy a EA and install MT4 and run your EA on your trading account to gain passive income.Source: http://www.bestforexranking.com

[youtube]http://www.youtube.com/watch?v=unM_0Vh00K4[/youtube]