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<ul><li>The device called <keyword id="15422444" type="General" weightage="80" keywordseo="synchron-switch" source="Orion">Synchron Switch</keyword> allows users to control their iPhone or <keyword id="101239" type="General" weightage="100" keywordseo="ipad" source="Orion">iPad</keyword> using their brain.</li><li>The array of sensors known as a "Stentrode" is inserted into the top of the brain via a blood vessel.</li><li>These sensors are controlled wirelessly using the <keyword id="13892001" type="General" weightage="80" keywordseo="synchron" source="Orion">Synchron</keyword> Switch from the patient's chest. </li></ul>Synchron, a New York-based company, has created a device called "Synchron Switch" that allows patients to control an iPhone or iPad using their brain. According to Semafor, an array of sensors known as a "Stentrode" is inserted into the top of the brain via a blood vessel. It is controlled wirelessly using the Synchron Switch from the patient's chest. Rodney Gorham, a retired software salesman in Melbourne,has amyotrophic lateral sclerosis, or ALS, a nervous system disease that severely impacts physical functioning. Synchron has six patients using the Synchron Switch device and Gorham is the first ever to use it with an <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> product, according to a report. "We're excited about iOS and Apple products because they're so ubiquitous, and this would be the first brain switch input into the device," <keyword id="13892002" type="General" weightage="50" keywordseo="tom-oxley" source="Orion">Tom Oxley</keyword>, Synchron's co-founder and CEO was quoted as saying. With the Synchron Switch, Gorham's thoughts are turned into action on the iPad. The iPad registers Gorham's foot tapping as a finger tap when he thinks about tapping his foot. Using his Synchron Switch, Gorham is able to send single-word text messages from his iPad, reports Semafor. Synchron is also the first company to receive approval from the US Food and Drug Administration to conduct clinical trials for a computer-brain implant. The company which has raised $70 million in venture and other funding, foots the cost of implanting and maintaining the device, it added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/hackers-found-a-new-way-to-sneak-malware-into-your-computer-using-minecraft-updates/articleshow/94147550.cms">Hackers found a new way to sneak malware into your computer using Minecraft updates — here’s how you can stay safe</a> <a href="https://www.businessinsider.in/tech/mobile/news/call-of-duty-warzone-mobile-announced-heres-how-to-pre-register-on-android/articleshow/94297494.cms">Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android</a>

New device allows you to control iPhone and iPad with a brain

US-based <keyword id="6361813" type="General" weightage="20" keywordseo="brain" source="Orion">brain</keyword> interface startup, Synchron, backed by <keyword id="18635" type="General" weightage="70" keywordseo="amazon" source="Orion">Amazon</keyword> founder <keyword id="16586160" type="TOPIC" weightage="70" keywordseo="Jeff-Bezos" source="TOPIC" sourcekeytype="panache-people-101" meta.keywordsubtype="Entrepreneur" meta.seopath="magazines/panache/panache-people-101/jeff-bezos" meta.entityname="Jeff Bezos" meta.hostid="153" meta.entityid="79278871">Jeff Bezos</keyword> and <keyword id="10387" type="General" weightage="50" keywordseo="microsoft" source="Orion">Microsoft</keyword> co-founder <keyword id="16586161" type="TOPIC" weightage="60" keywordseo="Bill-Gates" source="TOPIC" sourcekeytype="panache-people-101" meta.keywordsubtype="Entrepreneur" meta.seopath="magazines/panache/panache-people-101/bill-gates" meta.entityname="Bill Gates" meta.hostid="153" meta.entityid="79020550">Bill Gates</keyword>, is working on technology designed to transform daily life for people with paralysis. Synchron is part of an emerging crop of companies testing technology in the brain-computer interface industry, reports CNBC. The Synchron Switch is implanted through the blood vessels and allows patients to operate technology using only their minds. So far, the experimental technology has been tested on three patients in the US and four in Australia, according to the report. "I've seen moments between patient and partner, or patient and spouse, where it's incredibly joyful and empowering to have regained an ability to be a little bit more independent than before. It helps them engage in ways that we take for granted," Synchron CEO Tom Oxley was quoted as saying. Synchron, founded in 2012, is a member of the burgeoning brain-computer interface (BCI) industry, the report said. A BCI system decodes brain signals and converts them into commands for external technologies. As per the report, Synchron BCI is inserted through the blood vessels, which Oxley refers to as the "natural highways" into the brain. Stentrode, a Synchron stent, is fitted with tiny sensors and delivered to a large vein near the motor cortex. The Stentrode is linked to an antenna that sits under the skin in the chest and collects raw brain data that it sends out of the body to external devices, the report added. Synchron's technology can help patients with severe paralysis or degenerative diseases like amyotrophic lateral sclerosis (ALS), regain their ability to communicate with friends, family, and the outside world, whether through typing, texting, or even accessing <keyword id="15308890" type="TOPIC" weightage="60" keywordseo="Social-media" source="TOPIC" sourcekeytype="business,investopedia" meta.keywordsubtype="null" meta.msid="92974849" meta.seopath="s/social-media" meta.entityname="Social media" meta.hostid="153" meta.entityid="social-media">social media</keyword>. In December last year, the company announced a $75 million funding round, with participation from the investment firms of Gates and Bezos. The US Food and Drug Administration granted Synchron the Breakthrough Device designation in August 2020, which is reserved for medical devices that have the potential to improve treatment for debilitating or life-threatening conditions. The company has yet to generate revenue, and a spokesperson said that Synchron will not comment on how much the procedure will eventually cost, the report stated. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/cereal-prices-likely-to-remain-elevated-going-in-fy24-crisil/articleshow/98093985.cms">Cereal prices likely to remain elevated going in FY24 : Crisil</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gland-pharma-to-invest-400-cr-to-expand-its-telangana-plant/articleshow/98094407.cms">Gland Pharma to invest ₹400 Cr to expand its Telangana plant</a>

Jeff Bezos, Bill Gates-backed startup testing mind-controlled computing on humans

<keyword id="6355315" type="General" weightage="50" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>'s Neuralink rival <keyword id="13892001" type="General" weightage="100" keywordseo="synchron" source="Orion">Synchron</keyword> has launched <keyword id="564943" type="General" weightage="20" keywordseo="human-trials" source="Orion">human trials</keyword> on six severely paralysed patients in the US to enable them to control digital devices hands-free, using just thoughts. The US-based Synchron is an endovascular brain-computer (BCI) interface company that competes with Musk's Neuralink, which also aims to enable paralysed people to use computers and phones through their brain activities alone. In a statement, Synchron said that its device named Stentrode, which is the size of a paper clip, is implanted to the motor cortex of the brain through the jugular vein in a minimally-invasive procedure. Once implanted, it translates brain activity into a standardised digital language to allow patients to complete everyday tasks hands-free, on external devices including texting, emailing, online shopping and accessing telehealth services. The company's new clinical trial will enrol six patients in New York and Pittsburgh with severe paralysis. The device has already been implanted and tested in four Australian patients, and the new clinical trial marks the first time it will be tested in the US. The trial on Australian patients demonstrated the technology to be safe, the company said. According to Tom Oxley, CEO and founder of Synchron, the new trials are "a major milestone for people living with paralysis". Rather than drilling through the skull, the Stentrode is fed through a patient's vein until it reaches the brain. The device, comprised of a net-like material with 16 sensors attached, expands to line the vessel wall. That device is connected to an electronic device in the chest that then relays the brain signals from the motor cortex, the part of the brain that generates signals for movement, into commands for a laptop computer. Synchron is the only company to receive US Food and Drug Administration (FDA) approval to conduct clinical trials of a permanently implanted BCI. The company's novel BCI technology leverages the blood vessels as the natural highways to the brain. If successful, the Stentrode <keyword id="141363" type="General" weightage="20" keywordseo="brain-implant" source="Orion">brain implant</keyword> could be sold as a commercial product aimed at paralysis patients to regain their independence and quality of life. The company's new clinical trial, called Command, is being conducted under the first investigational device exemption (IDE) awarded by the FDA. An IDE allows a device to be used in a clinical study in order to collect data on its safety and effectiveness. "The Command study progresses Synchron's technology development through the feasibility stage as we prepare for our pivotal trial," said Oxley. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/one-year-between-2022-and-2026-likely-to-be-the-warmest-on-record-says-a-new-report/slidelist/91462950.cms">One year between 2022 and 2026 likely to be the warmest on record, says a new report</a>

Synchron begins human trials of brain implants on six severely paralysed patients

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>North Korea claims to have destroyed its only nuclear test site, but it's difficult to verify whether this actually occurred, given experts have not been permitted to analyze the location.&#xa0;</li><li>Pyongyang only allowed journalists to watch the site's destruction, and they lack the expertise necessary to provide verification.&#xa0;</li><li>Experts say images and video footage are not enough to tell whether the site was actually made unusable.&#xa0;</li></ul>North Korea claims to have destroyed its only nuclear test site, but it's difficult to verify whether this actually occurred given experts have not been permitted to analyze the location.&#xa0;Pyongyang did allow a small group of journalists into the country to witness the destruction of the&#xa0;Punggye-ri test site, but these people lack the expertise to discern whether the site is indeed unusable. At the moment, the only evidence available are images and video footage taken by these journalists. Experts say this is not enough to verify that the site is no longer usable and this is likely why North Korea only allowed journalists to watch its supposed decimation. When presented with images and footage of the alleged destruction of the site,&#xa0;University of Rhode Island professor and explosives expert Jimmie Oxley told Business Insider, "I can't tell much from these pictures, which, of course, is the reason for journalists only."&#xa0;Here are some of the images and footage taken by one of the journalists who was permitted to watch North Korean engineers detonate explosives in the mountainous test site's tunnels:Tom Cheshire, the journalist who recorded these images, said in a tweet that he asked a North Korean official how he could tell the test site was fully destroyed. The official said&#xa0;"we had seen with our own eyes the sort of explosion produced," Cheshire said, adding that many questions surrounding "verification" remain unanswered.&#xa0;"With this test site... a lot of this was very deliberately there for journalists," Cheshire further said <a href="https://twitter.com/SkyNews/status/999974940504805377">while appearing on Sky News.</a> "We definitely saw the tunnel entrances collapse but it's impossible to say what happened beyond that." He emphasized North Koreans are "masters of imagery," which leaves a great deal of room for skepticism about the destruction of the nuclear test site.&#xa0;In other words, some are apparently suspicious North Korea made it seem as though it destroyed the test site, but could actually make it operational again without difficulty if it desired to.&#xa0;<h2>The Trump-Kim summit could still happen</h2>The Trump administration last week said North Korea broke a major promise in not allowing experts to come in and verify the site's destruction, as it explained after the president canceled a planned summit with North Korean leader Kim Jong Un. The summit was set to be held on June 12 in Singapore.&#xa0;There were signs on Friday that the summit could be salvaged, but many details still remain up in the air.&#xa0;North Korean vice foreign minister Kim Kye-gwan on Friday <a href="http://www.businessinsider.com/north-korea-announces-it-wants-to-resolve-issues-anytime-2018-5?r=UK&amp;IR=T">released a statement</a> that said his country's government was willing "to sit down face-to-face with the US and resolve issues anytime and in any format."Subsequently, President Donald&#xa0;Trump <a href="https://www.cbsnews.com/live-news/trump-north-korea-meeting-canceled-kim-jong-un-open-hostility-today-live-updates-2018-05-24/">told reporters</a>, "We'll see what happens. It could even be the 12th. We're talking to them now. They very much want to do it. We'd like to do it. We're gonna see what happens."<div></div><div></div><div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/corruption-is-contagious-how-political-corruption-affects-civilians-2018-5">Why some countries are more corrupt than others</a></h3> <div> </div> </div></hr>

Experts struggle to determine whether North Korea actually dismantled its nuclear test site

"The Late Show with Stephen Colbert"/CBS; YouTubeLiberals and conservatives alike are agreeing that Stephen Colbert should be fired by CBS, but not necessarily for the same reasons.While some outraged viewers are calling for Colbert's termination over a comment about President Donald Trump and Russian President Vladimir Putin that they view as homophobic, conservatives appear to simply want him gone for his politics and <a href="http://www.businessinsider.com/stephen-colbert-trump-interview-2017-5" target="_blank" rel="noopener noreferrer">frequent, sharp criticism of Trump</a>.Colbert made the controversial insult during Monday's passionate "Late Show" monologue, which went viral online. In it, he stood up for CBS News colleague John Dickerson, whose interview with Trump was cut short by the president, who was being repeatedly questioned about his wiretap allegations against former President Barack Obama."Sir, you attract more skinheads than free Rogaine," Colbert said during the rant. "You have more people marching against you than cancer. You talk like a sign-language gorilla that got hit in the head. In fact, the only thing your mouth is good for is being Vladimir Putin's c--k holster."The last, sexually charged barb seems to be the one for which Colbert is taking the heat.A barrage of tweets calling for Colbert's firing from the late-night show went out in response to the comments, many using the hashtag "#FireColbert."While many are calling for Colbert's termination out of outrage over one joke being seen as homophobic, it's difficult to discern whether they're written by people concerned with LGBTQ rights or Trump supporters who are more concerned about partisan politics - many of whom claim to have never even watched his show.Colbert hasn't tweeted since Monday. Representatives for Colbert and the "Late Show" didn't immediately respond to Business Insider's request for comment. <h3>NOW WATCH: <a href="http://www.businessinsider.com/spicer-defends-trump-saying-honored-meet-kim-jong-un-north-korea-2017-5">'He's still a head of state' - Watch Spicer defend Trump's remark that he would be 'honored' to meet with Kim Jong-un</a></h3> Please enable Javascript to watch this video

People have started a 'fire Colbert' movement because of his 'homophobic' Trump insult

<ul class="summary-list"><li>Stock market crashes can leave positive legacies in their wake — even though they cause plenty of immediate pain.</li><li>In the US, stock market crashes led to the creation of the Federal Reserve System, the SEC, and the FDIC.</li><li>While the triggers for stock market crashes vary, the ultimate outcome is always the same: the market recovers.</li></ul>Three little words strike more fear into investors' hearts than anything else: <keyword id="730488" type="PERSON" weightage="60" keywordseo="stock-market-crash">stock market crash</keyword>.It's not just that they mean losses (another word that scares investors). It's also that no one knows for sure when a stock market crash is going to happen - though the signs were often there in retrospect - or even exactly what it is. There's no one official definition.Generally, though a stock market crash is seen as a single trading day in which a stock exchange/market drops by at least 10%. But it can also be "anytime there's suddenly a lot of volatility that makes you wonder whether the world is coming to an end tomorrow," says Terry Marsh, a <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> professor emeritus at Haas School of Business at the University of California Berkeley.Here's the scoop on eight of the most notable stock market crashes in recent financial history, their causes, and their fallout. Unless otherwise noted, they occurred on US exchanges, though the effect often spread to other countries.<h2>1. The Panic of 1907</h2>What happened: A group of investors borrowed money from banks to finance an effort to corner shares of United Copper Company. UCC went bust under the weight of speculation, and then other firms followed: Stocks lost 15% to 20% of their value. Public confidence in banks fell and depositors rushed to withdraw their money, causing ruinous runs. The damage: Some banks and stock brokerages failed, and many top executives at surviving financial institutions either resigned or were fired. Businesses couldn't get bank loans, causing them to fail.What resulted: "We learned that when more than one financial institution is in trouble,someone must inject liquidity" into the system, says Carola Frydman, a finance professor at Kellogg School of Management at Northwestern University. At the time, private financier J.P. Morgan put together a rescue package that finally restored order on the exchanges. Realizing how economically significant the stock market had become, however, the US government created the Federal Reserve System to formulate monetary policy and provide emergency funds in crises.<h2>2. Black Monday and Tuesday, Oct. 28-29, 1929 </h2>What happened: For nearly a decade, the stock market had kept rising in a speculative spiral. Overproduction in factories and a Roaring 20s giddiness led consumers to take on too much debt and believe financial instruments would climb perpetually higher. Finally, catching on to the overheated situation, seasoned investors began cashing out. Stock prices dropped first on the 24th, briefly rallied - and then went into free fall on Oct. 28-29. The Dow Jones Industrial Average dropped 25% in those days. Ultimately, the market lost 85% of its value. The damage: The Crash of 1929 didn't cause the ensuing <a href="https://www.businessinsider.com/what-caused-the-great-depression">Great Depression</a>, but it served as a wake-up call to massive underlying economic problems and exacerbated them. A panicked rush to withdraw money caused overextended banks to fail, depriving depositors of their savings. Deprived of lenders, businesses began to collapse, leading to scarcities of goods. As many as 25% of Americans ended up jobless, spurring foreclosures, migration, and demoralizing poverty. Gross domestic production (GDP) dropped 30%. The economic woe spread overseas, hitting Europe particularly hard. What resulted: A slew of reforms and new legislation. They included the Glass Steagall Act of 1933, which separated retail banking from investment banking - and led to the creation of the Federal Deposit Insurance Corporation (FDIC) to insure bank depositor funds. The National Industrial Recovery Act was passed to promote stable growth and fair competition, and the Securities and Exchange Commission (SEC) was established to oversee the stock market and protect investors from fraudulent practices. <h2>3. Black Monday, October 19, 1987</h2>What happened: Sinking oil prices and US-Iran tensions had turned the market pessimistic. But what led to the wipeout on Oct. 19 - eerily close to the 58th anniversary of the 1929 crash - was the relatively new prevalence of computerized trading programs that allowed brokers to place bigger and faster orders. Unfortunately, they also made it difficult to stop trades soon enough once prices started to plummet. Ultimately, The Dow and S&amp;P 500 each dropped more than 20% and Nasdaq lost 11%. International stock exchanges also tumbled.The damage: Fortunately, the crash didn't cause a recession or hardship. Trader Blair Hull helped set things right by putting in a large order for options at the Chicago Board Options Exchange on Black Monday. The main casualty of the crash was consumer confidence. It was essentially a computer-IT "plumbing problem" that "scared people," says Marsh.What resulted: The financial community realized how stock exchanges around the world were interconnected. The SEC implemented circuit breakers, also known as trading curbs, to halt trading for the day once a stock exchange declines by a given amount. To ensure liquidity, then-Federal Reserve Chairman Alan Greenspan ensured credit was available and made it clear that "the Fed has your back," says Marc Chandler, a chief market strategist at Bannockburn Global Forex. <h2>4. Japanese Asset Bubble Burst, 1992</h2>What happened: Japan's real estate and stock markets had flown to unprecedented heights in the 1980s. At first backed by fundamental economic growth, the spiral had become speculative by the decade's end. In 1992, the bubble of inflated real estate and stock prices finally burst.The damage: The Nikkei index fell by nearly half, setting in motion a minor, slow-moving Japanese recession. There were never mass business closures - though "high-end restaurants didn't do as much business," says Marsh - but not much growth either. US investors weren't hurt badly because they typically had only small amounts of Japanese stocks in their portfolios. Japanese investors, however, never fully regained their confidence in the stock market.What resulted: The Japanese government placed subtle controls on its financial system. "Still, it took decades for the Japanese [stock] market to recover," says Tyler Muir, an associate professor of finance at UCLA Anderson School of Management. The economy too: In fact, the 1990s are dubbed "The Lost Decade" in Japan. <h2>5. Asia Financial Crash of 1997 (aka Tom Yum Kung Crisis)</h2>What happened: Under pressure because the country borrowed too many US dollars, Thailand saw its baht currency collapse on July 2, 1997, declining 20% in value, and spurring debt and defaults that sent a ripple effect throughout several Asian financial systems.The damage: Currency in other Asian countries, including Malaysia and Indonesia, tumbled as well. "In South Korea, women were giving the government their gold rings to melt down" and make into ingots for international sale to help a suddenly bankrupt nation pay off its debt, says Chandler.What resulted: "East Asia got the lesson to self-insure" after the International Monetary Fund imposed tough measures in exchange for financial relief, says Marsh. And the crash raised awareness of the interconnectedness of regional financial markets and economies. <h2>6. <keyword id="6604338" type="UNKNOWN" weightage="60" keywordseo="Dot-com-bubble">Dot-Com Bubble</keyword> Burst, 2000-02</h2>What happened: In the 1990s, with the internet revolutionizing professional and personal life, stocks in companies with ".com" after their names surged. Twelve large-cap stocks rose more than 1,000%; one, chipmaker Qualcomm, saw its stock increase more than 2,500%. Investors gobbled up shares of tech IPOs but seemed unaware that not every company tied to the World Wide Web could sustain its growth - or even had a viable. "A new economy was being born and it was hard to place a value on it," Chandler says. But finally, people did - aided by some tighter money policies imposed by the Federal Reserve. They started to sell. By October 2002, the tech-heavy Nasdaq had fallen more than 75% from its March 2000 crescendo of 5,048.62.The damage: Pets.com, Toys.com, and WebVan.com went out of business, along with numerous other internet companies large and small. Even larger, <a href="https://www.businessinsider.com/what-are-blue-chip-stocks" target="_blank" rel="noopener">blue-chip</a> tech companies suffered. What resulted: Along with revealing that many tech startups had no clothes, "the overall downturn also exposed things that otherwise would have stayed hidden" in other firms, like accounting irregularities, says Muir. The Sarbanes-Oxley Act of 2002 was established to protect investors from corporate fraud. And "a lot of broker-dealers probably did more due diligence before they put more money into any internet funds," says Marsh.<h2>7. Subprime Mortgage Crisis, 2007-08</h2>What happened: At the turn of the 21st century, real estate was hot. Hungry for commissions, lenders practically gave money to under qualified homebuyers. Investors bought up mortgage-backed securities and other new investments based on these "subprime" loans. Eventually, though, the inevitable happened: Burdened by debt, borrowers began to default, property prices fell, the investments based on them dived in value. Wall Street noticed, and in 2008 the stock market started to decline. By early September, it was down almost 20%. On Sept. 15, the Dow Jones Industrial Average dropped nearly 500 points.The damage: Financial giants that had invested heavily in real estate securities, including venerable firms Bear Stearns and Lehman Brothers, failed. Businesses couldn't get loans because banks "didn't know who to trust," says Muir. Unemployment approached 10%. The misery spread overseas, where the Nikkei dropped almost 10% on Oct. 8, 2008. The US entered the <keyword id="121429" type="PERSON" weightage="60" keywordseo="great-recession">Great Recession</keyword>, which officially lasted until 2009, though economic recovery remained sluggish for years. What resulted: Through the Troubled Asset Relief Program, or TARP, the federal government rescued hobbled financial institutions; it also assumed control of other agencies, like troubled mortgage-market-makers Fannie Mae and Freddie Mac. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 regulated<a href="https://www.e-education.psu.edu/ebf301/node/548"> swaps</a> and other exotic investments for the first time and led to the creation of the Consumer Financial Protection Bureau. <h2>8. COVID-19 crash, March 16, 2020</h2>What happened: By the beginning of 2020, COVID-19 had spread widely in China and then to Europe - notably Italy - and to the US, where restaurants and nonessential stores closed to stem the tide of infection.As investors realized the extent to which the coronavirus could spread and negatively affect the economy, the stock market began to quiver. On March 16, with mandatory lockdowns being announced,the Dow Jones Industrial Average lost nearly 13% and the S&amp;P 500 dropped 12%. The damage: Struggling businesses furloughed or laid-off workers and some shuttered forever. Restaurants were limited to deliveries only and then partial-capacity table service. Travel restrictions kneecapped the airline and hotel industry. The human loss of the COVID pandemic has been devastating, with more than 300,000 deaths in the US and 1.5 million worldwide. As of September, more than 31 million people were either unemployed or lived with an unemployed family member, according to the<a href="https://www.cbpp.org/research/poverty-and-inequality/tracking-the-covid-19-recessions-effects-on-food-housing-and#:~:text=The%20majority%20of%20jobs%20lost,of%20Labor%20Department%20employment%20data." target="_blank" rel="noopener"> Center on Budget and Policy Priorities</a>.What resulted: The Cares Act of 2020 allowed extended unemployment payments, and government stimulus funds helped Americans stay afloat. The stock market bounced back as e-commerce companies like Amazon, makers of personal protection equipment, and pharmaceutical companies surged in value. Many businesses whose employees worked remotely during the COVID crisis said they would continue a similar arrangement once the pandemic passes, but "it remains to be seen whether it's a permanent shift," says Muir.<h2>The Financial Takeaway</h2>Many of the above examples demonstrate how disasters that strike stock exchanges can leave positive legacies in their wake - even though they cause plenty of immediate pain.Some stock market crashes maul economies for years. Others merely shake up investor confidence, making people more cautious in their choices. They can cause human tragedies and result in game-changing government reforms. While the triggering events for stock crashes vary - involving everything from copper-mania to condo prices - the ultimate outcome has always been the same: The market recovers.<h2>Related Coverage in <a href="https://www.businessinsider.com/investing-reference" target="_blank" rel="noopener">Investing</a>:</h2><h3><a href="https://www.businessinsider.com/recession-vs-depression" target="_blank" rel="noopener">Depressions and recessions differ in their severity, duration, and overall impact. Here's what you need to know</a></h3><h3><a href="https://www.businessinsider.com/what-is-a-recession" target="_blank" rel="noopener">What is a recession? How economists define periods of economic downturn</a></h3><h3><a href="https://www.businessinsider.com/what-is-business-cycle" target="_blank" rel="noopener">Business cycles chart the ups and downs of an economy, and understanding them can lead to better financial decisions</a></h3><h3><a href="https://www.businessinsider.com/double-dip-recession-definition" target="_blank" rel="noopener">Why double-dip recessions are especially difficult, and what they mean for the general state of the economy</a></h3><h3><a href="https://www.businessinsider.com/stock-market-crash-expert-warns-great-depression-setup-90-plunge-2020-9" target="_blank" rel="noopener">'The worst crash in our lifetime': One market expert says stocks are screaming toward a Great Depression-like setup in early 2021 - and warns an 80 to 90% plunge isn't out of the question</a></h3>

8 of the biggest stock market crashes in history - and how they changed our financial lives

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Mel EvansIn this Monday, March 17, 2014 photo, Patty DiRenzo holds a picture of her son, Salvatore Marchese, in her home in Blackwood, N.J. Salvatore died from a heroin overdose in 2010.</div></div></div>Last month, Republican Rep. Tom Reed of New York <a href="https://www.congress.gov/bill/114th-congress/house-bill/6158/">introduced legislation</a> that hearkened back to what critics call one of the worst relics of the "war on drugs."The legislation would allow federal prosecutors to charge drug dealers with life in prison or the death penalty when they can connect the dealer to an overdose death caused by heroin laced with fentanyl, a synthetic opioid painkiller 50 times stronger than pure heroin.In the midst of <a href="http://www.businessinsider.com/drug-overdoses-wont-stop-rising-and-thats-not-even-the-worst-part-2016-1">a national overdose crisis</a> and after a summer marked by <a href="http://www.businessinsider.com/heroin-overdoses-ohio-indiana-kentucky-west-virginia-2016-8">a flood of overdose deaths related to fentanyl</a>, the Help Ensure Lives are Protected (HELP) Act represents a typical response to drug crises - the people responsible must be punished."The bill is a draconian response to a complicated issue, and will serve only to make our current crisis worse," John Barry, the executive director of the Southern Tier AIDS program, a New York-based public health organization, <a href="http://www.stargazette.com/story/opinion/2016/10/18/guest-viewpoint-help-act-draconian-bill/92363990/">wrote in a scathing opinion piece</a> in the Star-Gazette.If enacted, Reed's bill would propagate and expand a criminal-justice policy known as drug-induced homicide, whereby dealers can be charged for murder if their customers overdose. More than 20 states<a href="http://www.drugpolicy.org/sites/default/files/Drug%20Policy%20Alliance_Fact%20Sheet_Drug-Induced%20Homicide.pdf"> already have such laws</a>, according to a report by the Drug Policy Alliance released in April, though the penalties are usually less severe. The laws date back to the late 1980s and the crack cocaine epidemic. But they have been used sporadically, if at all, up until the last decade. The current overdose crisis has caused a resurgence of the laws. Many prosecutors, like those <a href="http://www.cnn.com/2014/03/11/justice/new-jersey-overdose-laws/">in New Jersey</a>, Louisiana, and West Virginia, have <a href="https://www.washingtonpost.com/national/her-fiance-gave-her-heroin-she-overdosed-does-that-make-him-a-murderer/2016/05/08/f9a9e79a-f29b-11e5-a2a3-d4e9697917d1_story.html">begun to aggressively use preexisting laws</a> to try to curtail overdose deaths and deter drug dealers, The Washington Post reported in May. Illinois, Pennsylvania, and Kansas, meanwhile, <a href="http://www.usatoday.com/story/news/nation-now/2014/07/25/states-pursue-homicide-charges-in-heroin-overdoses/13115751/">have passed their own drug-induced homicide laws</a> in the last five years, according to USA Today. Some states, like Ohio, <a href="http://www.usatoday.com/story/news/nation-now/2014/07/25/states-pursue-homicide-charges-in-heroin-overdoses/13115751/">don't have a specific law</a>, but instead use reckless homicide and involuntary manslaughter to effectively charge dealers for overdoses.The practice has been championed by David J. Hickton, the US attorney for the Western District of Pennsylvania, and Steve Dettelbach, the US attorney for the Northern District of Ohio - both hailing from areas that have been hard-hit by the opioid crisis.It "is the policy of this office that if we can establish that a seller of heroin caused a death, we are going to charge it. This heroin crisis requires that response," Hickton <a href="https://www.justice.gov/usao-wdpa/pr/five-charged-heroin-overdose-deaths-three-pittsburgh-area-residents">said last year</a> when he announced that five people had been charged in a series of overdose deaths in Pittsburgh.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Mel EvansDeaths from heroin overdoses in the U.S..</div></div></div>But a growing consensus of addicts, drug-policy experts, and scientific research say measures like the HELP Act are more likely to exacerbate the US' worsening overdose crisis. "This bill is a doubling down on the very ineffective, harsh and punitive policies that characterized the early war on drugs and which have widely been proven ineffective at reducing drug use," Lindsay LaSalle, senior staff attorney for Drug Policy Alliance, <a href="http://www.huffingtonpost.com/entry/heroin-dealers-death-penalty_us_57ec4051e4b024a52d2cc053">told The Huffington Post</a> in September. Reed, like many proponents of drug-induced homicide, says his <keyword id="6355470" type="CITY" weightage="60" keywordseo="Law">law</keyword> is intended to go after the "<a href="http://www.wellsvilledaily.com/news/20160927/reed-get-tough-on-drug-dealers">worst of the worst</a>" - not users - by scaring dealers with possible murder charges. But deterrence measures, such as mandatory-minimum sentences for drug offenses, have been on the books since the 1980s and haven't "made a dent" in drug supply, opioid-use researcher Ted Cicero, a professor of psychiatry at Washington University in St. Louis, told Business Insider last year. A 2009 study commissioned for the Colorado Criminal Justice Reform Coalition, meanwhile, found that the incarceration of drug offenders "<a href="http://www.ccjrc.org/wp-content/uploads/2016/02/Correctional_and_Sentencing_Reform_for_Drug_Offenders.pdf">has little or no impact on drug distribution</a>." Locking up drug dealers only results in new dealers filling the void, the study found. But the ineffectiveness of the policy is only a minor problem when compared to how such laws are actually used, experts say. In contrast to Reed's statement, drug-induced homicide laws are used most often on small-time drug dealers who are often users themselves.To charge someone with drug-induced homicide or a similar charge, the chain of causation that led from purchase to overdose needs to be very clear. Drug dealers with more sophisticated operations don't tend to put themselves in the types of situations that make it feasible to prove that causation, Kathie Kane-Willis, director of Roosevelt University's Illinois Consortium on Drug Policy, <a href="http://thesouthern.com/news/local/prosecutors-experts-debate-controversial-drug-induced-homicide-charge/article_236dcd04-77d1-5ccf-b7cf-4cbcdde82e95.html">told The Southern Illinoisan earlier this year</a>. Addicts that sell to support their addiction and most often sell to friends or acquaintances do put themselves in those types of situations - like shooting up with the overdose victim."If our goal is to save lives, then <a href="https://www.thefix.com/do-drug-induced-homicide-laws-deter-users-and-sellers#.Vp5PsnUMcdo.reddit">these laws are counter-productive</a>," Kane-Willis told The Fix in January. "The majority of people charged under drug-induced homicide laws are drug-dependent folks who were using with a friend or loved one." <div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Mel EvansIn this Thursday, Feb. 20, 2014 photo, Cody Lewis, a recovering heroin addict, runs his hands through his hair, before speaking about his life and addiction at the Good Samaritan Methodist Church in Addison, Ill.</div></div></div>Examples abound of the ways drug-induced homicide can be used on addicts caught in a tragic, but unlucky, situations.In Louisiana, Chelcie Schleben was in rehab when she and her reported ex-boyfriend Joshua Lore were<a href="http://www.nola.com/crime/index.ssf/2015/07/attorney_wants_heroin_overdose.html"> charged with the murder of Kody Woods</a>, who died of an overdose in 2014 while the three were doing heroin together. The two were charged under a 1987 drug-induced homicide statute and faced a life sentence. They pleaded guilty and <a href="http://www.nola.com/health/index.ssf/2016/05/should_heroin_dealers_be_charg.html">received 10 years in prison</a> each.In West Virginia, Steve Craig Coleman was<a href="http://www.wvgazettemail.com/news/20160427/man-charged-with-murder-in-heroin-case-pleads-to-lesser-charges"> charged with the murder of Melody Ann Oxley</a>, who overdosed in 2015 after Oxley begged Coleman for some of his personal stash. He pleaded guilty to a felony drug charge and involuntary manslaughter. According to his attorney, Rico Moore, Coleman began abusing opioids after becoming addicted to lawfully prescribed drugs. His father is also an addict. "<a href="http://www.vice.com/read/heroin-murder-and-the-new-front-in-the-war-on-drugs-928">He's a drug user</a>. … He's not as they allege - he's not a drug dealer. ... It makes absolutely no sense to punish someone who's an addict," Moore <a href="http://www.vice.com/read/heroin-murder-and-the-new-front-in-the-war-on-drugs-928">told Vice</a> last year. Reed has pitched the HELP Act as being about obtaining "<a href="https://reed.house.gov/media-center/press-releases/reed-stands-victims">justice for the victims and their families</a>." But such measures don't have the support of many who actually have lost family members to overdoses, like Denise Cullen, a drug-policy activist who's son died of an overdose in 2008."These [drug induced homicide] laws won't make things better. … It won't bring our children back. It won't make other children safer. What it will do is to continue to demonize and stigmatize those who use and sell drugs," Cullen, who runs <a href="http://grasphelp.org/">Grief Recovery After a Substance Passing</a> and <a href="http://broken-no-more.org/">Broken No More</a>, told The Fix in January. Beyond the broad issues with drug-induced homicide laws, the HELP Act has more specific flaws. It is written to target drug dealers that cut heroin with fentanyl - the current drug panic. But most street-level dealers selling heroin do not know when fentanyl <a href="http://www.drugpolicy.org/sites/default/files/Drug%20Policy%20Alliance_Fact%20Sheet_Drug-Induced%20Homicide.pdf">has been added to their product</a>, according to the Drug Policy Alliance report. Michael Ferguson, the acting special agent in charge of the New England division of the Drug Enforcement Administration (DEA), <a href="https://www.bostonglobe.com/metro/2014/06/28/fentanyl-laced-heroin-makes-journey-new-england-that-starts-colombia-and-mexico-dea-says/hVHvjvBE9cvV9lkKLVR3cN/story.html">told The Boston Globe</a> in 2014 that most fentanyl-laced heroin is mixed by cartels prior to crossing the border with Mexico. All of these measures are likely to add up to one thing, advocates say - more deaths from overdoses. <a href="http://onlinelibrary.wiley.com/doi/10.1111/j.1360-0443.2005.00975.x/full#b4">Multiple</a> <a href="http://onlinelibrary.wiley.com/doi/10.1111/j.1360-0443.2005.00975.x/full">studies</a> <a href="http://onlinelibrary.wiley.com/doi/10.1111/j.1360-0443.2005.00975.x/full#b11">have</a> found that the primary barrier to seeking medical services during an overdose is "fear of police involvement and subsequent arrest." If people are afraid that they or one of their friends will be arrested or charged with murder or drug charges after trying to get an overdose victim help, they won't call.Most overdose deaths are preventable if medical attention is called quickly enough. Naloxone, a opioid "antidote," <a href="http://www.businessinsider.com/price-of-naloxone-narcan-skyrocketing-2016-7">instantly reverses overdoses</a> and is beginning to be carried by police and emergency medical services across the US.States have tried to fix this phenomenon by passing "Good Samaritan" drug laws, which provide limited immunity from arrest or prosecution for minor drug offenses for people who call police or first responders to overdoses. More than 32 states <a href="http://www.drugpolicy.org/resource/which-states-have-911-good-samaritan-laws-andor-naloxone-access-laws">have passed some form of Good Samaritan law</a>.But even in those states, most do not provide immunity from <a href="http://www.drugpolicy.org/sites/default/files/Drug%20Policy%20Alliance_Fact%20Sheet_Drug-Induced%20Homicide.pdf">drug-induced homicide laws</a>, according to the DPA report. "If [users are] going to have the book thrown at them in these states, you have the inverse of what you want in terms of protecting people at risk of overdoses," Grant Smith, deputy director of national affairs at the Drug Policy Alliance, told Business Insider earlier this year. "They are trying to dissuade people from selling these substances but, in the process, they are creating more overdoses because people are scared to call for help because they sold it." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/a-hacker-reveals-a-simple-way-to-come-up-with-a-strong-password-thats-easy-to-remember-2016-10">A hacker reveals a simple way to come up with a strong password that's easy to remember</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BwN2NwMzE6EWIgb89XK0BH7jw-ZsLEQ9" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The overdose crisis is bringing back one the worst policies of the 'war on drugs'

News emerged Thursday that Jeffrey Skilling might get out of his prison <a href="http://www.businessinsider.com/why-is-jeff-skilling-getting-out-early-2013-4">before his 24-year sentence is up</a>, but a corporate lawyer who's been following the case tells us it's ridiculous he ever went to jail at all.
Skilling was sentenced in <a href="http://www.nytimes.com/2006/10/24/business/24enron.html?pagewanted=all">October 2006</a> for his role in the accounting fraud that caused <keyword id="6385664" type="COMPANY" weightage="60" keywordseo="Enron">Enron</keyword>'s spectacular collapse and spurred major reforms under <a href="http://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act">Sarbanes-Oxley.</a>
Skilling has said he wants a retrial because of allegations of prosecutors' misconduct, and now the government is considering a deal to cut his sentence — possibly to avoid dealing with those allegations of misconduct.
Aside from the alleged misconduct, the original case against Skilling was deeply flawed, Houston attorney Tom Kirkendall argues to Business Insider. It basically just accused him of being "too optimistic about Enron" and never suggested he stole a dime from the company, according to Kirkendall.
"I think it's preposterous he served a day in jail much less seven years," he says.
The government prosecuted Skilling under the a statute that makes it <a href="http://www.law.cornell.edu/uscode/text/18/1346">illegal to deprive others of "honest services."</a> Kirkendall says the goal of this <keyword id="6355470" type="CITY" weightage="100" keywordseo="Law">law</keyword> was to punish executives for accepting bribes at the expense of their employer. Skilling, on the other hand, only had Enron's best interests at heart, according to Kirkendall. From his blog:
"The Task Force faced a big problem with prosecuting Skilling at all because he never stole a dime from Enron (that is, no private gain). In fact, the Task Force conceded at trial that, not only did Skilling not embezzle any money from Enron, the case against him was not about “greed,” that Skilling always sought to pursue Enron’s “best interests,” and that every act for which he was being prosecuted was undertaken for the purpose of protecting Enron and promoting its share price."
While a federal appeals court in New Orleans upheld that <a href="http://www.justice.gov/criminal/vns/docs/2009/jan/01-06-09skilling.pdf">conviction in 2009</a>, it found his sentence was too harsh and <a href="http://www.nytimes.com/2009/01/07/business/07enron.html?partner=permalink&amp;exprod=permalink&amp;_r=0">prosecutors might have been guilty of misconduct</a>. Prosecutors apparently broke the rules by failing to disclose evidence they uncovered that might have been favorable to Skilling — <a href="http://en.wikipedia.org/wiki/Brady_v._Maryland">so-called Brady Evidence</a>.
This is the same kind of misconduct that proved to be deeply embarrassing to prosecutors who went after former <a href="http://online.wsj.com/article/SB123863051723580701.html">Alaska senator Ted Stevens for corruption.</a> (The now-deceased former senator's conviction was ultimately voided because prosecutors didn't hand over Brady evidence.)
"There are very perverse incentives involved in these kinds of white collar prosecutions," Kirkendall says. "If you turn over exculpatory evidence to the defense ... you've given the defense information they can use to prove the innocence of their client."
In the case of Skilling, if the case is retried a whole new set of prosecutors will have to defend themselves against allegations of misconduct that happened years ago.
The <a href="http://www.businessinsider.com/the-complete-and-utter-humiliation-of-the-enron-task-force-2009-10">so-called Enron Task Force </a>that brought down Skilling and other executives in the first place would also face one more setback if his conviction is overturned.

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