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U.S. Government Delays Nanotechnology Safety Measures
WASHINGTON, Oct. 31 /PRNewswire-USNewswire/ -- Want to buy a bag of carbon nanotubes -- in quantities from a few grams to hundreds of kilograms (100 kilograms = approximately 220 pounds)? With a credit card and Internet access, you can. But is the U.S. government doing enough to ensure the safety of these materials and the hundreds of other nanotechnology commercial and consumer products currently on the market? The answer is a resounding "no," says Project on Emerging Nanotechnologies chief scientist Andrew Maynard. "The materials safety data sheet for carbon nanotubes-which provides workers and safety personnel with information on proper handling procedures-treats these substances as graphite, the material used in pencils. But carbon nanotubes are as similar to pencil lead as the soot on my barbeque grill at home is to diamonds."
According to Maynard, "This is just one example of the yawning knowledge gap between the nanomaterials entering commerce now and their safety. More>>
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The next worry: Unstable bond insurers
Even as U.S. stocks ended five days of losses with a surprising recovery on Wednesday, officials began moving to defuse another potential time bomb in the markets: the weakened condition of two large insurance companies that have guaranteed buyers against losses on more than $1 trillion of bonds.
Regulators fear a possible chain of events in which the troubled bond insurers, MBIA and Ambac, might be unable to keep their promise to pay investors if borrowers default on their debt.
That could leave the buyers of the bonds including many banks and pension funds on the hook for untold billions of dollars in losses, shaking confidence in the financial system.
To avoid a possible crisis, insurance regulators met with representatives of about a dozen banks Wednesday to discuss ways to shore up the insurers by injecting fresh capital, much as Wall Street firms have turned to outside investors recently after suffering steep losses related to subprime mortgages. More>>
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Fitch Expects to Rate BA Credit Card Trust Class C (2008-1) BAseries Notes; Presale Issued
Fitch expects to rate BA Credit Card Trust, class C (2008-1) BAseries notes as follows: --$100,000,000 class C (2008-1) 'BBB+'.
For more information see the BA Credit Card Trust, class C (2008-1) BAseries notes presale report, available to all investors on Fitch's corporate site, www.fitchratings.com.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
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