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Sunday, September 28, 2008

The bailout

The fundimentals of any bailout plan has to be the protection of those who would be adversely effected by the failure of the system. This means that those who are already or will be living paycheck to paycheck are the ones that are in need of the most protection. This is not to say that there should not be protections put in place for the financial institutions either but protections for both sides should keep one protection from overriding the other.

The working poor and the middle class should not have to worry about the potential loss of their homes or retirement accounts due to people or rules that favor taking the stuff to gain short term satisfaction over working with the people and families for long term satisfaction.

when it comes to the financial institutions they should be more willing to rewrite the terms of mortgages and other forms of credit so that the people who are paying on the credit can still afford to keep paying rather than taking steps that would hurt the financial company through having property that is not generating income due to forcing the people from their home.

The other forms of credit like credit cards, the financial institutions need to look at what is going on with the way they handle interest and fees. The financial companies who provide credit cards have to reduce the interest and not be so willing to add fees to the accounts due to the fact that sometimes when a late fee is assessed to an account the account gets charged an over the limit fee as well which at times forces the interest rate to spike. The financial institutions should not be permitted to assess fees when to an individuals account when the account is at or close enough to the limit that it would adversely effect the account holder financially.

at the same time the financial institutions should have protections against people who are trying to scam people and the financial institutions in ways that adversely effect the one going for the credit and the financial institution or are willing to lie about their financial situation to get the money that they are looking for only to turn around and file for protection against creditors.

Sunday, September 21, 2008

The federal bailout of Wall Street

The lack of foresight with regards to mortgages has forced the federal government to step in and bail out the financial institutions. This does not directly stem from what the individuals looking for loans have done but rather what some lenders have done in order to make a quick dollar from both the individual they get the loan for but also the institution that they get to buy the loan.

The mess may not have happened or may have been less severe if the predatory lenders didn't find ways of getting the individuals and couples to leave their financial information blank so they could play with the numbers to get the people loans that they realistically could not afford

Where the federal government has to bail out these financial institutions, there should be safeguards for both the individual who gets the loan and the financial institutions that maintain the mortgage note. This would include the rewriting of the terms of the loans to protect both sides if the individual in the event that the individual is making every attempt to pay but through no fault of their own starts having problems paying, i.e. inflation rising faster than their pay, etc...

The financial institutions don't really want the property since they would be the ones who would be the ones required to maintain the property until sold and are forced to take a lose if they can't sell the house for the value of the mortgage note. At the same time the communities don't want to see a home that has become abandoned and neglected due to the family being forced to move out due to a foreclosure due to it bringing down the look of the neighborhood and the value of the surrounding homes.

The one real question is: Will we learn from what happened in the aftermath of the sub-prime mortgage lending problem?

Saturday, September 13, 2008

A problem marriage

my brother, had been talked into a mail order bride that he would have to help bring over here for the marriage. It didn't take much to convince him given that he always had a thing for women of that specific race and really wanted to be with one.

It took him and her family more than five years of trying to legally bring her over here. After she came she seemed nice enough and looked like she genuinely wanted to be with my brother. A couple weeks after she got here they had gotten married and then a couple months later knowing that she needed a support system he decided to move out of state to some cousins of hers that had already immigrated here a number of years before so she would have some family around to help her settle in.

after a month with her family out of the blue they moved again to another state to be with a friend of her family that had immigrated here a couple years ago. Almost immediately they then moved again this time moving out of the continent and settling in Hawaii to live with her mother.

what had happened next shocked most of the people in her family and threw my brother for a loop. everyone found out that they were being used by the lady and she let everyone know this by going to the police without any evidence to back herself up with and getting a restraining order placed on my brother so he could not go any where near her and her daughter.

It got really complicated due to the fact she also has a 13 year old son who she abandoned when she walked out on my brother. she had decided to move out of her mothers place leaving both my brother and her son there and everyone there wondering what was going on.

the lady tried to convince her family that my brother had been abusing her and her daughter but most of her family didn't believe her at all. Where they were living at her mothers place and her mother being able to see that he wasn't abusing her would not take her daughters side. she tried to convince her family in Hawaii which consisted of her mom, her two brothers and her aunt (her mothers sister) and her uncle who is married to her aunt.

the only one she was able to convince that my brother had been beating her was one of her brothers and he was still living with their mother. Now she will not talk to her aunt and uncle since they would not take her side even though they were the ones that were actively trying to get her here legally.

come to find out there had been a guy in the background that my brother along with her aunt and uncle didn't know about that setting things up for her to make an attempt to be able to legally stay in the United States with out having to stay married to my brother for the required amount of time. this was proven by the fact that almost immediately after they moved to Hawaii she left him and filed the paperwork for a temporary restraining order, which was recently turned into a restraining order that lasts just past the required time she has to be married to him to be able to stay here permanently. It was also verified by one of her brothers that she had someone here helping her in the background to set everything up.

I just feel sorry for her son who she abandoned because he didn't deserve to have this happen to him and I also feel sorry for her aunt and uncle due to the fact they have been betrayed by someone that they love.

The Visa she came over on required her to get married within 90 days of arriving in the United States and requires her to remain married for 5 full years to be a permanent resident of the United States. With the fact that she is trying to take advantage of the system my brother has to find out how to get her legally deported so she can't take advantage of the system any more than she has.

Saturday, September 6, 2008

this years presidential run seems a little off kilter

with the way both candidates have been going about their presidential runs you would think in some ways they are in the wrong political parties. you have a candidate in the democratic party who is willing to talk faith issues which the republican party normally talks about.

then you have a candidate in the republican party who has selected a running mate who doesn't fall under the normal conservative family due to her daughter being pregnant out of wedlock even though it has been publicly stated that she is going to get married before the baby is born.

on a personal level I do not have any problem with either of them but in my opinion as to whether or not they can effectively run the country, I feel that neither of them can do it, at least as it would be needed to put us back on stable footing both domestically and internationally.

the way I look at it we have to choose between someone who thinks for the most part like the current administration and someone who broke his promise to finish his first term as senator before running for another office.

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