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Sunday, 6 May 2012

Get-Rich-Quick Scams: FTC Cracks Down On Companies That Defrauded 1 Million Customers

The question is not would you get scammed by this advert but that people who are being led by a celebrity culture of X Factor and the like through the media hype, will always look for the easy way to make money. So people like Jeff Paul will be able to worm their way into peoples lives with flashy cars and women looking like models.But it is keywords like these being used in this advert that will convince people it is so simple to make millions and have lifestyle they could only have in their dreams.

Fact is it only exists in peoples dreams and these people behind Jeff Paul care about making more themselves and fleecing people of their hard-earned cash.
Read the Article at HuffingtonPost

Becoming Fearless Goes Video: We Start With... Money

We are told in many ways by the church and religious groups that money is the root of all evil, but many more people drive expensive cars who are church goers.Then we are told that it is more important to make money in this world and our economies must grow and we teach children in schools from a young age that making money or being successful is the way of life.Many people write books on the way to make money be they religious or not and yet year in year out things have got worse. The question is why?

No problem everyone from politicians, religious leaders and economists all can tell us why, yet it works only for a short while, again why?

Well maybe the answer is not in the why at all but in the how, what, when and who and firstly we need to look at how. Then we look back at the first statement l made at the beginning of this comment and that is about the love of money being the root of all evil and the answer is the word LOVE and our own interpretation of the word and HOW we use it. If we only love ourselves, our possessions and anything associated with money we will never rid ourselves of fear and never find the way to true happiness and peace in our lives.
Read the Article at HuffingtonPost

Saturday, 5 May 2012

Excessive chlorine: Coke says sorry to China

Excessive chlorine: Coke says sorry to China: Chinese unit of Coca Cola apologised for the way it has dealt with a 'scandal' that arose after some of its drinks were alleged to be contaminated with chlorine.

" The Roving Giraffe News Report " provided by #Ace News Services

Feds Take Horses From City Bookkeeper Accused With Stealing Millions

Feds Take Horses From City Bookkeeper Accused With Stealing Millions:
CHICAGO -- The animals seized from a renowned horse breeder accused of using her day job as a city bookkeeper to steal millions in public funds have telling names: Jewels by Tiffany, Have Faith in Money.

Rita Crundwell lavished attention on her prize-winning animals, and their catchy names helped them stand out at show exhibitions. They might also reveal something about the woman prosecutors say was behind a staggering theft of $53 million from the city of Dixon in northern Illinois, or at least about the flashy breeding industry she loved.
More than 300 of her horses, among the most sought-after in the country, were handed over to U.S. marshals through a judge's forfeiture order on Thursday.

Jim Bret Campbell, a spokesman for the American Quarter Horse Association, cautioned not to read too much into the animals' names – among them, Packin Jewels, Sum for Me, Botox N Leather and I Found a Penny – and noted that Crundwell likely would only have chosen the names of the horses she bred, not those she purchased.

"The other thing that probably is pertinent is that many of our horses' names are generated by their pedigree, so the names of their sire and dam – their father and mother – contribute," Campbell said Friday.

"We had a very famous racing stallion named Dash for Cash, so we have a lot of horses that either have dash in their name or cash in their name. It's almost a way for breeders to signify that relationship to a famous horse."

The U.S. Marshalls Service plans to hire professionals to care for the horses with an eye toward selling them as part of any eventual restitution to the city of Dixon.

Crundwell's lawyer, Paul Gaziano, has refused to comment publicly on the case, citing rules of the federal defender program.

Crundwell is expected to enter a plea at her arraignment Monday. She is accused of siphoning public funds into a secret bank account opened in 1990 while she was Dixon comptroller. Prosecutors say she concealed the scheme by showing auditors phony invoices designed to look like they came from the state of Illinois and making it appear that the funds were going to legitimate purposes.

As an explanation for the shortfall, she told the mayor that the state was behind in disbursing funds to the city, according to an indictment returned by a federal grand jury on Tuesday.

Federal prosecutors contend she spent the funds on jewelry and cars, including a 1967 Chevrolet Corvette Roadster, as well as horses. The breed, known as quarter horses, is prized for being able to run short straightaways faster than any other. The best sell for $200,000.

Their playful names – many with references to money – are common in the industry, Campbell said. Crundwell also tipped her hat to the rich and famous with names like Will N Kate, for Prince William and bride Kate Middleton, and Shda Puta Ring on It, after the Beyonce hit "Single Ladies (Put A Ring On It)." Others were saucy: Bathhouse Booty, Western Call Girl and She's Promiscuous.

"These are for the most part show animals, so they're trying to come up with names that do stand out in the show ring when they're announced," Campbell said.

" The Roving Giraffe News Report " provided through Ace News Service

Laurence J. Kotlikoff: Making More Jobs in Our Economy -- The Secret Sauce

Laurence J. Kotlikoff: Making More Jobs in Our Economy -- The Secret Sauce:
The latest Labor Department figures show the economy is stuck at eight percent unemployment. The New York Times says this is clear evidence that the government needs to engage in more government spending. This is the Obama Administration's view as well. Mitt Romney favors lower taxes and less government regulation to get the economy rolling.

As the first economist to run for President (see www.kotlikoff2012.org and www.americanselect.org), it behooves me to provide my own prescription for restarting the economy. It's different, in very large part, from what the President and Governor are recommending, although some of what each recommends makes sense.

But let's start with the basics. Our economy's productive capacity is greater than it was before our Great Slump began. We have more labor and more and better machines, factories, residential structures, office buildings and other capital available to produce goods and services. We're just not using all the available labor and capital. The invisible hand that Adam Smith said would guide competitive economies to socially desirable outcomes seems to have lost several fingers.

Some economists believe the problem involves either firms setting their prices too high or workers demanding wages that are too high. In the former case, customers demand fewer goods and services leading firms to demand (hire) fewer workers. In the later case, the workers price themselves out of the market. This is the traditional Keynesian model (developed by disciples of John Maynard Keynes), for which I, frankly, don't see strong evidence. Keynes, himself, voiced skepticism about this interpretation of his views.

Another set of economists think our Great Slump reflects a productivity/technology shock -- a sudden and prolonged decline in our capacity to produce output. This view is also very hard to credit. None of our production knowhow suddenly disappeared in the Fall of 2008 and Winter and Spring of 2009 when companies were firing over one half million workers per month.

The only plausible explanation for such massive rapid-fire job destruction is a collective shift in business and consumer confidence. The specter of so many large financial firms failing, being purchased in shotgun weddings, or being nationalized killed what Keynes called "animal spirits." Our leaders panicked as well and started warning of another Great Depression. Relative to its peak in 2007, the stock market lost half its value by mid 2009. This plus the collapse in housing prices helped flip our economy to its current bad equilibrium.

Today we have plenty of people who would be hired if the firms who would do the hiring were confident they could sell the output generated by these new hires. If a firm, call it firm A, hires workers, at a significant fixed cost, it needs to have some assurance it can sell the goods and services its new hires produce. But if firm A thinks no other firm is increasing its hiring, it can't be assured of finding customers (demanders) to buy its extra production (supply). So firm A doesn't hire. This means that the demand for other firms' products by the workers firm A would have hired never gets registered in the market.

The same story applies for firms B, C, D, etc. Firms don't hire because they think no one else is hiring. This is what economists call a coordination failure. Coordination failures can't necessarily be fixed with tax cuts or hiring subsidies or making larger transfer payments to the public. These moves may worsen expectations about the future because everyone may think, "Gee, the economy must really be bad if the government is going to these lengths to stimulate hiring."

What's needed to fix our country's coordination failure is coordinated collective action to hire, invest and lend. And the person in the best position to help encourage and orchestrate this coordinated hiring and investment by firms and lending by banks is the president. The president needs to be the country's jobs cheerleader in a way that goes far beyond anything we've seen to date. The president has a bully pulpit. He needs to make Hire, Hire, Hire the nation's mantra and he needs to urge those with jobs to assist their employers in making new hires. This may mean taking a smaller pay hike, accepting pay in the form of stock or even taking a pay cut.

Every worker needs to be asking his employer, "What are you doing to increase your employment of those who desperately need jobs?" And every employer needs to be asking his employees, "What can you do to help me hire those who desperately need jobs?"

In the early 1960s, President Kennedy successfully talked steel manufacturers out of raising prices because he was properly worried that their doing so would spark inflation. He realized that raising prices can also involve a coordination failure in which one firm raises its prices because it thinks its competitors as well as other firms in the marketplace are raising their prices.

We need a President who can solicit and coordinate (not mandate) increased collective hiring so that all firms will see that everyone else is hiring, and thus there will be extra demand for the extra output they produce. This, of course, is more challenging in a world economy in which firm A may be selling products to people in different countries. But what's needed then is to get other leaders on board with this collective hiring initiative.

The Germans coordinated their hiring behavior via meetings of industry and unions and, as a result, Germany is experiencing much lower unemployment than are we. We need to learn from Germany's example. Our economy won't necessarily right itself on its own. The Great Depression taught us that bad economic times can last a very long time.

We also need to understand why the economy isn't working. Our textbook economic models presume markets always clear because they assume there are magical market makers who, at zero cost, will match demand to the available supply. In the real world, market-making is costly and, with the wrong set of expectations, can lead everyone to sit on his very visible hands.

As President, on day one, I'd gather the top 1,000 CEOs in a large room. Day two I'd start meeting with mid-sized employers. In these meetings, I wouldn't lock the doors, but I'd have NFL players standing at each exit! I'd talk with the CEOs about why the economy isn't moving -- why we have more than 23 million people out of work or short on work. But the main thing I'd discuss is the massive coordination failure we face and the need for each of them to increase their employment by five percent. I'd stress that they need to do this the starting the next day -- that there would be no coercion, no intimidation, no tax breaks and no subsidies to do this -- that this would be a voluntary, collective, simultaneous hiring by all large and mid-sized employers who would, if they acted together, discover they had new customers to justify their additional hiring, namely the 23.7 million Americans who are now jobless or underemployed.

This is not rocket science. The evidence for coordination failure fairly screams at us. When Lehman Brothers collapsed, American companies coordinated on bad times and proceeded to fire 450,000 U.S. workers, month in and month out, on average, for the next 19 months. We need now to reserve this process. We can each sit on our hands and watch things get worse. Collectively, we can stand up, hire together, and make a difference.

All the posts are provided by me and any comments l provide are my own view of the markets and are not the views of the article writer and or news provider.

Anna Cuevas: Fannie Mae's Approval of Mortgage Principal Reductions Gets the Silent Treatment

Anna Cuevas: Fannie Mae's Approval of Mortgage Principal Reductions Gets the Silent Treatment:
Recent modifications to HAMP (Home Affordable Modification Program) made Fannie Mae and Freddie Mac eligible to receive incentives for providing homeowners with principal reductions. However, there has not been a commitment by the Federal Housing Finance Agency, which oversees Fannie and Freddie, to offer such reductions.

Edward DeMarco, acting director of the FHFA, indicated that additional analysis would have to be performed to determine the long-term benefits of principal reductions. Yet, according to a letter dated May 1, 2012, from the U.S. Congress Committee on Oversight and Government Reform, that analysis had already been completed and the FHFA had previously given the green light to Fannie Mae to offer homeowners mortgage principal reductions.

The letter, directed to DeMarco, comes on the heels of controversy the Acting Director has received for his reluctance to reduce principals for struggling homeowners. DeMarco has backed his decision by the fact that extensive, detailed analysis must first be completed, also stating that principal reductions are more costly than other measures and that he is acting in the interests of taxpayer dollars that have been used to save Fannie Mae and Freddie Mac. Information that has recently come to light shows, however, that it was determined in 2009 that a principal reduction program would cost $1.7 million, but the benefits could amount to $410 million. A pilot program with Fannie Mae and Citibank was proposed, but abruptly stopped in July, 2010, with little explanation.

Testifying on November, 16, 2011, DeMarco didn't divulge the previous extensive analysis and approval of a principal reduction program to Congress. This withholding of information came to light after investigation by Committee on Oversight and Government Reform, which has obtained several documents from Fannie Mae officials that discuss the analysis and the pilot program in detail.

As a result, the Committee is calling on DeMarco and the FHFA to submit any documents relating to reductions in mortgage principal by May 11. In addition, in light of evidence that contradicts DeMarco's testimony, they are inquiring into the responses by the FHFA in regard to his November testimony and other responses to their requests.

According to the nine-page letter, it is alleged that Fannie Mae had performed extensive, detailed analysis on principal reductions and found that it would be less costly to Fannie and taxpayers than foreclosures, and documents obtained later also revealed:

• That Fannie Mae's Risk Subcommittee stated that "underwater borrowers will perform better on a modification that reestablishes equity."

• That loans that receive principal reductions re-default at far lower rates than loans that receive other types of modifications.

• That the proposed pilot program would benefit more than fifty percent of Fannie's customers.

• Benefits of the pilot program would be visible within six months, and

• It was determined that a failure to implement a principal reduction program would have high negative impacts.

Based on the information revealed and the documentation quoted by the Oversight Committee, lawmakers are now delving further into the motives behind the FHFA's reluctance to commit to principal reductions, as well as the reasons why they withheld crucial information from Congress.

Whether this new information or the subsequent investigation will change the outcome for Fannie Mae's struggling homeowners who could benefit from principal reductions remains to be seen. However, the International Monetary Fund (IMF) has voiced their support for principal reductions, as noted by Christine Lagarde, IMF managing director, who has stated the housing crisis is a matter of urgency and this as an "opportunity to push on and take the further actions that are certainly needed to keep the crisis at bay and finally put it behind us." According to the IMF,
Principal reductions are likely to reduce foreclosure rates and, if implemented on a large scale, would support house prices substantially -- helping to eliminate the overall uncertainty weighing on the housing market.

The IMF's support, as well as that of other lenders and agencies, correlates with the original analysis by Fannie Mae and the FHFA that principal reductions could be one of the most beneficial actions that can be taken to reverse the housing crisis.

A May 1, 2012, response by Edward DeMarco indicates that Fannie Mae's pilot program was not implemented after consideration of staff perspectives and experiences at the corporate level, stating "operational concerns" as the primary reason for reversing their initial support for principal reductions. Absent in this response is a reference to DeMarco's omission of the program in his November 2011 testimony before Congress.

David vs Goliath

Loan Modification Guru Reveals How Homeowners Can Challenge the Big Banks and Save Their Home

Anna Cuevas, known as "America's Loan Modification Guru," has guided thousands of Americans in keeping their homes from foreclosure. A popular blogger (askaloanmodguru.com), Cuevas has been called a "superhero of the loan modification industry" and has been nominated for CNN's Heroes. She is the #1 bestselling author of SAVE YOUR HOME Without Losing Your Mind or Money.

All the posts are provided by me and any comments l provide are my own view of the markets and are not the views of the article writer and or news provider.

Azerbaijan and Eurovision: Behind the Propaganda

All the people in the country should be allowed freedom of speech to express their views about any subject no matter how much it shows up the image of their country. The sheer fact that newspaper reporters are gagged and arrested does not show Azerbaijan up in a good light and allow them to embrace this contest as entertainment and not use it for political manipulation.
Read the Article at HuffingtonPost

Friday, 4 May 2012

Payday Hound Comparison Site Points To Alleged Illegal Lender, Offshore Loans

Payday lenders maybe trying a new way to offer their extortionate interest rate loans under the guise of a gateway through a new price comparison website called "Payday Hound" that is obtaining information of peoples personal data.

The site is owned by a holding company called Contigo Limited LLC, based in Henderson, Nev., and the owner is listed as Con Way Ling, whose LinkedIn profile states his work experience includes three years serving as an officer at Signet Bank/Capital One. The company did not respond to multiple phone or email requests for comment.

"The hazard here is that you grant lender access to your bank account and you don't know how much you will pay back by the time you are done," Fox said. Borrowers think they are paying down principal, when in fact they are just paying interest. "Many of [these lenders] require you to manually set it up to make a principal payment."

State regulations are hard to enforce on online operators since many are headquartered offshore or on Native American reservations in an attempt to skirt U.S. regulations altogether. Many of these are listed on the Payday Hound site.
Read the Article at HuffingtonPost