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IMF promotes vigilance over global markets

WASHINGTON

Finance ministers and central bankers should remain vigilant to ensure the smooth functioning of financial markets that have been jarred by a global credit crisis, the International Monetary Fund's policymaking committee said Saturday during an annual meeting. Problems in the global economy came to a boil when credit markets froze on Aug. 9 as fear overwhelmed many investors. Troubles that began in the market for subprime mortgages in the United States spread to many other kinds of debt on international markets. In an attempt to soothe jittery markets, the IMF statement urged "continued vigilance to maintain well-functioning financial markets." The IMF, based in Washington, is a 185-member organization that helps out countries in financial crisis and makes loans to poor nations.

March of Dimes joins SCHIP fight

Democrats invited the head of the March of Dimes to use the party's Saturday radio address to express her organization's support of legislation that would expand the children's health program to 10-million people. Dr. Jennifer Howse said health insurance is the single most important factor in determining whether a child gets needed health care. The March of Dimes is dedicated to improving the health of babies. On Thursday, the House failed to override President Bush's veto of a bill that would increase spending on the State Children's Health Insurance Program. SCHIP provides government-subsidized health insurance to low-income families.

NEW YORK

Flight reductions suggested for JFK

Delay-plagued John F. Kennedy International Airport shouldn't try to handle more than 80 takeoffs or landings per hour, substantially fewer than are now scheduled for some peak travel times, the Department of Transportation said late Friday. JFK now has some hours when airlines plan for as many as 100 flights. Airline officials are scheduled this month to meet with the Federal Aviation Administration to talk about possible reductions.

PHOENIX

Police raid finds beaten immigrants

Police raided a drop house for illegal immigrants and discovered several whose handlers had beaten and tortured them, authorities said. Police took 54 people into custody after the raid Friday, including four children and seven suspected smugglers. One man's head had been wrapped in a plastic bag and submerged in a waste-filled toilet, a Maricopa County sheriff's spokesman said. The spokesman said the man's pregnant wife was beaten and will probably lose her baby.

[Last modified October 21, 2007, 01:50:01]