Liquidity effects of the events of September 11, 2001

Banks rely heavily on incoming payments from other banks to fund their own payments. The terrorist attacks of September 11, 2001, destroyed facilities in Lower Manhattan, leaving some banks unable to send payments through the Federal Reserve's Fedwire payments system. As a result, many banks received fewer payments than expected, causing unexpected shortfalls in banks' liquidity. These disruptions also made it harder for banks to redistribute balances across the banking system in a timely manner. In this article, the authors measure the payments responses of banks to the receipt of payments from other banks, both under normal circumstances and during the days following the attacks. Their analysis suggests that the significant injections of liquidity by the Federal Reserve, first through the discount window and later through open market operations, were important in allowing banks to reestablish their normal patterns of payments coordination.Fedwire ; Electronic funds transfers ; War - Economic aspects ; Bank liquidity ; Payment systems

Constitutional Law - Due Process - Judicial Review of Jury Determination on Coerced Character of Confession

Petitioner, suspected of the murder of his parents, was subjected to intensive police interrogation culminating in a confession to a state-employed psychiatrist. Petitioner had been allowed only a small amount of sleep and was suffering from a sinus condition when he was introduced to the psychiatrist, who was represented as a general practitioner. The questioning of the psychiatrist, who was skilled in hypnosis, was a subtle blend of threats and promises of leniency. Within the next three and one-half hours petitioner also confessed to a police captain, a business associate, and two assistant state prosecutors. The confession to the psychiatrist was held to have been coerced and its admission in evidence violative of the due process clause of the Fourteenth Amendment, but the finding of the jury in a second trial that the confessions subsequently given were voluntary was upheld and the conviction was affirmed. In a habeas corpus proceeding, petitioner charged that the confessions used against him were coerced. On certiorari, the United States Supreme Court held, petition granted and conviction reversed, Justices Minton, Reed, and Burton dissenting and Justice Jackson not participating. The confessions used against petitioner were parts of one continuous process of protracted interrogation and psychological pressure on him, and their admission as evidence was violative of the due process clause of the Fourteenth Amendment. Leyra v. Denno, 347 U.S. 556, 74 S.Ct. 716 (1954)

Conflict of Laws - Penal Provisions in Foreign Law - Liability of Shareholders in De Facto Corporation

Defendants, residents of Tennessee, while attempting to form a corporation under the laws of Arkansas, inadvertently failed to file the articles of incorporation with the county clerk, although they were filed with the Secretary of State of Arkansas. The resulting business association was an Arkansas de facto corporation. Under Arkansas law the shareholders of a de facto corporation are personally liable for the debts of the corporation. Plaintiff, a creditor who dealt with the corporation, sued in a Tennessee court and asked that the Arkansas rule be applied. The trial court refused to do so on the ground that it was penal in nature, and applied instead the Tennessee rule that shareholders of a de facto corporation are not personally liable for its debts. On appeal, held, affirmed. Plaintiff petitioned for rehearing, alleging conflict with the decision of the Court of Appeals for the Sixth Circuit in Doggrell v. Great Southern Box Co. of Mississippi, which held in deciding the same question that the Arkansas rule was not penal and the courts of Tennessee were therefore bound to apply it by the full faith and credit clause of the Constitution. Held, petition denied. Under the test applied by the federal court, as construed by the Tennessee court, the Arkansas rule is penal in nature and against the public policy of Tennessee. Paper Products Co. v. Doggrell, 195 Tenn. 581, 261 S.W. (2d) 127 (1953)

A discursive psychology analysis of emotional support for men with colorectal cancer

Recent research into both masculinity and health, and the provision of social support for people with cancer has focussed upon the variations that may underlie broad assumptions about masculine health behaviour. The research reported here pursues this interest in variation by addressing the discursive properties of talk about emotional support, by men with colorectal cancer - an understudied group in the social support and cancer literature. Semi-structured interviews were conducted with eight men with colorectal cancer, and the transcripts analysed using an intensive discursive psychology approach. From this analysis two contrasting approaches to this group of men’s framing of emotional support in the context of cancer are described. First, talk about cancer was positioned as incompatible with preferred masculine identities. Second, social contact that affirms personal relationships was given value, subject to constraints arising from discourses concerning appropriate emotional expression. These results are discussed with reference to both the extant research literature on masculinity and health, and their clinical implications, particularly the advice on social support given to older male cancer patients, their families and friends

The impact of the physical environment on depressive symptoms of older residents living in care homes : a mixed methods study

Background and Objectives: Forty percent of residents living in care homes in the United Kingdom have significant depressive symptoms. Care homes can appear to be depressing places, but whether the physical environment of homes directly affects depression in care home residents is unknown. This study explores the relationship between the physical environment and depressive symptoms of older people living in care homes. Research Design and Methods: In a prospective cohort study the physical environment of 50 care homes were measured using the Sheffield Care Environment Assessment Matrix (SCEAM) and depressive symptoms of 510 residents measured using the Geriatric Depression Scale (GDS-15). The study was supplemented with semi-structured interviews with residents living in the care homes. Quantitative data were analyzed using multi-level modeling, and qualitative data analyzed using a thematic framework approach. Results: The overall physical environment of care homes (overall SCEAM score) did not predict depressive symptoms. Controlling for dependency, social engagement, and home type, having access to outdoor space was the only environmental variable to significantly predict depressive symptoms. Residents interviewed reported that access to outdoor space was restricted in many ways: locked doors, uneven foot paths, steep steps, and needing permission or assistance to go outside. Discussion and Implications: We provide new evidence to suggest that access to outdoor space predicts depressive symptoms in older people living in care home. Interventions aimed at increasing access to outdoor spaces could positively affect depressive symptoms in older people

Stimulus-evoked high frequency oscillations are present in neuronal networks on microelectrode arrays

Pathological high frequency oscillations (250–600 Hz) are present in the brains of epileptic animals and humans. The etiology of these oscillations and how they contribute to the diseased state remains unclear. This work identifies the presence of microstimulation-evoked high frequency oscillations (250–400 Hz) in dissociated neuronal networks cultured on microelectrode arrays (MEAs). Oscillations are more apparent with higher stimulus voltages. As with in vivo studies, activity is isolated to a single electrode, however, the MEA provides improved spatial resolution with no spread of the oscillation to adjacent electrodes 200 μm away. Oscillations develop across four weeks in vitro. Oscillations still occur in the presence of tetrodotoxin and synaptic blockers, and they cause no apparent disruption in the ability of oscillation-presenting electrodes to elicit directly evoked action potentials (dAPs) or promote the spread of synaptic activity throughout the culture. Chelating calcium with ethylene glycol tetraacetic acid (EGTA) causes a temporal prolongation of the oscillation. Finally, carbenoxolone significantly reduces or eliminates the high frequency oscillations. Gap junctions may play a significant role in maintaining the oscillation given the inhibitory effect of carbenoxolone, the propagating effect of reduced calcium conditions and the isolated nature of the activity as demonstrated in previous studies. This is the first demonstration of stimulus-evoked high frequency oscillations in dissociated cultures. Unlike current models that rely on complex in vivo recording conditions, this work presents a simple controllable model in neuronal cultures on MEAs to further investigate how the oscillations occur at the molecular level and how they may contribute to the pathophysiology of disease

The Prevalence of Secondary School Sport Safety Policies within State Athletic Associations and Legislation

Purpose: The location of secondary school health and safety policies impacts how they are implemented by the sports medicine team and stakeholders. Yet, a comprehensive list of each state’s policy locations has not been established. The purpose of this study was to describe where secondary school health and safety policies were located at the state level within the United States. Method: Emergency related health and safety policies were designated as either being located in the state high school athletics association (SHSAA), state legislation (LEGIS), or in both SHSAA and LEGIS (BOTH). Designation was determined by two researchers who independently reviewed each individual policy. Frequencies were tabulated for the leading causes of catastrophic injury (exertional heat stroke (EHS), traumatic head injuries (THI), sudden cardiac arrest (SCA), and emergency preparedness (EP)) for the distribution of policies emanating from SHSSA, LEGIS or BOTH. Prevalence ratios (PRs) with 95% confidence intervals (CIs) were calculated between the policies categories and location. Results: Most (99.35%) EHS and EP (83.02%) policies were found in SHSAA. Whereas the majority (79.70%) of SCA policies were found in LEGIS. Traumatic head injuries were most frequently observed in SHSAA, however, had the greatest distribution across all three categories (SHSAA=45.31%, LEGIS=25.52%, BOTH = 29.16%). The category that most frequently found policies in BOTH was THI (THI= 29.16%, all others =2.25%; PR=12.96; 95% CI=7.81, 21.53). Conclusions: Emergency related health and safety policies for secondary school sports are commonly found in SHSAA. TBI and SCA are also found in LEGIS. This demonstrates great variability of policy locations