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speaking of international law...

Does anyone remember the ruckus back when the other members decided they 
didn't want the US on the UN Security Council, and the US Powers That Be 
threw a tantrum, "waaah! fine! I'm taking my ball and going home ... oh, and 
by the way, I'm not gonna pay my dues anymore either!"...?

I never really paid attention to the follow-up on that, but I recall lately 
some bit of news about a US decision as a member of the Security Council.  
Also, the UN site lists the US as a permanent member of the SC (a la the 
permanent 5):
http://www.un.org/Overview/Organs/sc.html#MEMBERS
Either I totally misunderstood the original news item (or remember it 
incorrectly), or something seriously changed.  Can anyone fill me in on this? 
 Searches on Google and MetaCrawler have proven unsuccessful; perhaps I've 
used the wrong search terms...

--Alan