I recently viewed the 2006 version of All The King's Men with actor Sean Penn playing the charismatic politician Willie Starks. Although the 1949 original was based on the life of Louisiana Governor Huey Long, the modernized version is closely related to today's political circus. Politicians attempt to coy the vote from the poor majority and middle class, then when elected into office, mask change with corruption and blackmail in order to satisfy the greed of the wealthy.
Who has the real power? Voters don't. Voting is only important when those voting have real power to make change. For instance, when a Senator votes on a bill, that is power. When citizens vote on a referendum, that is power. When protesters, picket or strike for community improvements or better wages, that is power. Let's present a practical example. The bank bailouts of 2008 was voted by members of Congress. Those members had a direct impact on their own bank investments and the stock market. Members of the U.S Congress are allowed to inside stock trade; therefore, bailing out banks and Wall Street was in their best interest. If the bailouts were voted on in a True Democracy, citizens would have voted to pay off there interest-only mortgage loans, school loans, and cars loans. Only one of the three listed happened... the domestic car industry was bailed out. Fannie Mae and Sallie Mae were not.
Who has the most influence? Middle-class don't. The poor have voting influence, because they are the largest population. The wealthy have monetary influence to lobby laws in their favor, because they populate the United States economy with millions of dollars. So why hasn't the middle-class found it's power? The middle-class are comfortable acting rich, while being 2 pay-checks away from being poor. The middle-class are too lazy to protest, unless there are lay-offs. The middle-class lock the door when there is a riot in the community. The middle-class close the window shades when a police investigation is going on in the neighborhood. The middle-class do not open the door when the next door neighbor needs a favor. The definition of a middle-class society has nothing to do with tax bracket or income; it is a mind-set of false entitlement and unmerited privilege. Not all of the middle-class are like this, but in some aspect, the middle-class are a little too quiet, when they should go outside and loot during the riot, point the finger in the direction that the criminal ran, or loan your neighbor a couple of dollars knowing that he/she doesn't have enough to cover expenses.
So why vote? It is important to vote everyday of your life for righteous living and truth. In All the King's Men, Willie Starks platform was about exposing the truth, but once in power, he didn't live for the truth. Every citizen should empower themselves to seek the truth, expose the truth and live the truth. How? Stop telling yourself lies. Stop telling yourself that the government should fix your problems, when you made a bad decision. Stop waiting on the government to provide better health care, when you don't eat healthy or exercise. Pay what you owe to the creditor, pay your taxes and donate to the unfortunate. This will keep casinos out of your district and prevent anxious reliance on a lottery jackpot as a personal bailout. Vote for a better YOU everyday. If you can minimize corruption in your own life, then it will cause a domino affect, then it will be contagious, then influence will birth power, which brings about change.
Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts
Friday, April 6, 2012
Friday, September 30, 2011
Libya: The World's Largest Bank Heist
Since the beginning of the revolution in Libya in February 2011 and the months following the intervention of the coalition forces of United Kingdom, France, United States and Canada, the world has been fixed on the events that has crippled the 42-year rule of Muammar Gaddafi. His strong rule of the country began with the ousting of King Idris I in 1969 and the abolishment of the 1951 Constitution. Monarchy was replaced with Kleptocracy, whereby he and his family benefited from the wealth of the country. Although social programs thrived in Libya, these were used to coerce votes and bribe support of his propaganda brain-washing of the poor and middle-class citizens. Unlike Saddam Hussein in Iraq, Gaddafi was sutle with his use of force on the people and used it to control uprises by opponents wanting to reestablish the former constitution while he governed the country.
So why is it necessary for the World's Super Powers to intervene now? The United States could have crippled Gaddafi in the 1980's under President Ronald Reagan and controlled Libya's oil reserves. Gaddafi's history with Human Rights could have had him exiled by the United Nations (with military force). All things considered, the Super Powers did not need his resources in the 1980s -- just lower oil prices. Attention on Iraq and internet technology was the focus in the 1990s. After 9/11, Al Qaeda, the Taliban, Osama bin Laden and the War on Terrorism was the concern in the last decade. Meanwhile in the past 30 years, Gaddafi witnessed how Western and European governments conducted international business. He built up his wealth, increased his military and solidified his influence with neighboring countries to mimic Western and European coalitions. He was working on a plan for an African monetary standard that would be shared like the Euro. This idea would isolate Europe, which needed Libyan oil. With 140 tons of gold and rich investors from African nations, this would be Gaddafi's anti-imperialist move on the chess board of the African continent.
The 2008 recession of United States and European banks had left these economies looking for relief. The old cries of Human Rights violations are heard again from the poorest of Libyan citizens. But, now they are listened, because the Western and European governments have a need (a greed) to balance a ledger of international deficits. Nations that based their economy on credit instead of gold now seeks what they do not have -- a true treasury. These nations have found Gaddafi and seek to oust him similar to his 1969 coup.
Yes, Gaddafi is guilty for the Human Rights mistreatment of Libyan citizens.
Yes, the upper class benefited from Gaddafi's propaganda rule.
Yes, Gaddafi wanted to strengthen the African continent economically.
Yes, the Libyan central bank was seized as payment to nations that continue to support the Libyan rebels.
Yes, Imperialism continues to exist.
Yes, there is no honor among thieves.
So why is it necessary for the World's Super Powers to intervene now? The United States could have crippled Gaddafi in the 1980's under President Ronald Reagan and controlled Libya's oil reserves. Gaddafi's history with Human Rights could have had him exiled by the United Nations (with military force). All things considered, the Super Powers did not need his resources in the 1980s -- just lower oil prices. Attention on Iraq and internet technology was the focus in the 1990s. After 9/11, Al Qaeda, the Taliban, Osama bin Laden and the War on Terrorism was the concern in the last decade. Meanwhile in the past 30 years, Gaddafi witnessed how Western and European governments conducted international business. He built up his wealth, increased his military and solidified his influence with neighboring countries to mimic Western and European coalitions. He was working on a plan for an African monetary standard that would be shared like the Euro. This idea would isolate Europe, which needed Libyan oil. With 140 tons of gold and rich investors from African nations, this would be Gaddafi's anti-imperialist move on the chess board of the African continent.
The 2008 recession of United States and European banks had left these economies looking for relief. The old cries of Human Rights violations are heard again from the poorest of Libyan citizens. But, now they are listened, because the Western and European governments have a need (a greed) to balance a ledger of international deficits. Nations that based their economy on credit instead of gold now seeks what they do not have -- a true treasury. These nations have found Gaddafi and seek to oust him similar to his 1969 coup.
Yes, Gaddafi is guilty for the Human Rights mistreatment of Libyan citizens.
Yes, the upper class benefited from Gaddafi's propaganda rule.
Yes, Gaddafi wanted to strengthen the African continent economically.
Yes, the Libyan central bank was seized as payment to nations that continue to support the Libyan rebels.
Yes, Imperialism continues to exist.
Yes, there is no honor among thieves.
Thursday, March 31, 2011
Why did HAMP fail?
In 2009, the Obama Administration introduced a government program for struggling homeowners called the Homeowners Mortgage Assistance Program(HAMP). This program had two purposes: 1. reduce interest rates for high interest or interest-only mortgages for homeowners current on mortgage payments and 2. provide loan modification assistance for homeowners who had fallen behind on payments or at risk of foreclosure. The House this week killed funding for HAMP, although Senate passage is unlikely. In addition, 50 House Democrats wrote Treasury Secretary Timothy Geithner urging him to reform HAMP. Why is reform needed?
3.4+ Million homeowners were suppose to benefit from this program, but after 2 years, the population of an average size professional football stadium (approximately 500,000 homeowners) have been assisted successfully. I've heard valid arguments from Democrats and Republicans about the need to complete or delete the program; they don't understand that the HAMP failure lies with the implementors: the banks and mortgage companies.
The same banks that were bailed out from the 2008 crisis are now asked by the government to give homeowners the grace of a fixed interest loan or a small interest loan modification. Some of these homeowners endured unemployment or bad credit in order to stay current with the necessities of food, shelter, clothing and utilities -- forgoing the luxuries of credit card shopping (and paying credit card bills). The banks and mortgage companies do not recoup an advantage on a 6-month loan modification when a 12-, 18-, 24-month loan modification is more profitable. Banks cannot sell the foreclosed property, so why not let it draw more interest until the market is favorable.
House Representatives and Senators are unaware of the viscous cycle that begins with falling behind 2-3 months on mortgage payments. An homeowner may have at least 1 month's payment available to apply to the present mortgage. A reimbursement program is introduced after filing an income/expense worksheet. The homeowner waits until receiving approval and sent paperwork to return the payment as a money order or certificate of deposit. The homeowner may not receive the paperwork until after another month has past. The bank or mortgage company may state that the paperwork was returned without a valid address and the homeowner is disqualified for the reimbursement program. Next, another income/expense worksheet is performed for the entrapment of a loan modification. This is promoted to homeowners like a used car salesman. "The current loan interest rate will be reduced significantly, while we process an additional loan on what is owed". This is trouble on a runaway train that no one can get off of.
Homeowners do not want to pay anymore interest! Homeowners don't desire another entry on a credit report! Homeowners don't look forward to paying another mortgage on their property! There is no advantage in killing one mortgage with two loans.
A favorable statistic to acquire is how many homeowners remain in the HAMP process and how many were rejected. It is my speculation that approximately 1 million homeowners remain in the cycle of attempting to qualify for a program that the banks and mortgage companies do not wish to implement. Banks and homeowners are stuck; homeowners can't pay, banks can't sell.
3.4+ Million homeowners were suppose to benefit from this program, but after 2 years, the population of an average size professional football stadium (approximately 500,000 homeowners) have been assisted successfully. I've heard valid arguments from Democrats and Republicans about the need to complete or delete the program; they don't understand that the HAMP failure lies with the implementors: the banks and mortgage companies.
The same banks that were bailed out from the 2008 crisis are now asked by the government to give homeowners the grace of a fixed interest loan or a small interest loan modification. Some of these homeowners endured unemployment or bad credit in order to stay current with the necessities of food, shelter, clothing and utilities -- forgoing the luxuries of credit card shopping (and paying credit card bills). The banks and mortgage companies do not recoup an advantage on a 6-month loan modification when a 12-, 18-, 24-month loan modification is more profitable. Banks cannot sell the foreclosed property, so why not let it draw more interest until the market is favorable.
House Representatives and Senators are unaware of the viscous cycle that begins with falling behind 2-3 months on mortgage payments. An homeowner may have at least 1 month's payment available to apply to the present mortgage. A reimbursement program is introduced after filing an income/expense worksheet. The homeowner waits until receiving approval and sent paperwork to return the payment as a money order or certificate of deposit. The homeowner may not receive the paperwork until after another month has past. The bank or mortgage company may state that the paperwork was returned without a valid address and the homeowner is disqualified for the reimbursement program. Next, another income/expense worksheet is performed for the entrapment of a loan modification. This is promoted to homeowners like a used car salesman. "The current loan interest rate will be reduced significantly, while we process an additional loan on what is owed". This is trouble on a runaway train that no one can get off of.
Homeowners do not want to pay anymore interest! Homeowners don't desire another entry on a credit report! Homeowners don't look forward to paying another mortgage on their property! There is no advantage in killing one mortgage with two loans.
A favorable statistic to acquire is how many homeowners remain in the HAMP process and how many were rejected. It is my speculation that approximately 1 million homeowners remain in the cycle of attempting to qualify for a program that the banks and mortgage companies do not wish to implement. Banks and homeowners are stuck; homeowners can't pay, banks can't sell.
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