I had HOPE in Obama ! Is Pelosi now president? January 29, 2009
Posted by loanarranger in Uncategorized.Tags: economic recovery bill, more stimulus, Obama, Pelosi, porkulus, stimulus bill
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What just Happened?
Instead of a $850 BILLION STIMULUS bill from Congress—we got , what some now call, a PORKULUS Bill.
Obama was supposed to give us a bill that Created jobs, fixed roads and bridges, built power lines for wind power energy, etc, etc.
But we got no stimulus for the HOUSING sector, no job creation etc.. We received $400 Billion for STATE entitlement programs (like unemployment benefits, pet projects–but no job creation). WHAT HAPPENED!
Only 5% went to building roads and bridges (job creation). This bill does not even help one city–the Stock market today seems BETRAYED. Obama did not take on Pelosi or Reid, as they handed out PORK to all their friends! By the way–that is our money they are spending(and we will have to pay back someday) CAN THE SENATE still save us from this boondoggle!! Can Obama still save us by taking on Pelosi in the HOUSE? It looks like Pelosi is running the country now. Is Pelosi now President?
One example of the Pork===STIMULUS for Illegals !!
The $800 billion-plus economic stimulus measure making its way through Congress could steer government checks to illegal immigrants.
The legislation, which would send tax credits of $500 per worker and $1,000 per couple, expressly disqualifies nonresident aliens, but it would allow people who don’t have Social Security numbers to be eligible for the checks.
Undocumented immigrants who are not eligible for a Social Security number can file tax returns with an alternative number. A House-passed version of the economic recovery bill and one making its way through theSenate would allow anyone with such a number, called an individual taxpayer identification number, to qualify for the tax credits
Geithner scores again! January 28, 2009
Posted by loanarranger in Uncategorized.Tags: geithner, Lehman Brothers, Lehman Brotherse pay, more stimulus, severence, severence pay, Tim Geithner, treasury secretary
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First Tim Geithner forgot to pay over $40,000 in self employment taxes when he worked for the World Bank. When nominated by Obama for Treasury Secretary, he paid for 2 years, that he admitted in testimony before Congress, he would not have paid , if not nominated. But Obama, Reid and others said it was an “honest mistake”. But now, he is our new Treasury Secretary and the lead person for the Obama economic plan.
As President of the New York Federal Reserve Bank, Tim Geithner was an active partner with Paulson in the forced sale of Bear Stearns to JP Morgan, as well as the failure to help Lehman Brothers, causing their fall into bankruptcy. Many on Wall Street believe Lehman’s bankruptcy was the main reason that the financial crisis accelerated globally in mid-September and spread through the world, causing breakdowns of the financial system and the destruction of trillions of dollars of wealth in the United States and the world. Now Banks are “TOO big to fail” and we are giving them Billions every other month to cover their losses.
So what did Geithner do today, he got himself a $400,000 plus severance package for leaving one Gov job for another (what a deal from the taxpayers). He also wrangled $60,000 plus in other benefits to the new job. Who ever heard of any other Government worker pulling off these deals. Has He no shame! So his first day on the job, he decides to STIMULATE himself.
Will the taxpayers say anything? Will this even make the national news tonight? I doubt it — another gift from the taxpayers (or should I say another honest mistake)…. if he gets caught.
Is America Greedy? January 28, 2009
Posted by loanarranger in Uncategorized.Tags: birth control, greed, plane crash, ponzi, ponzi scheme, ponzination, stimulus, US Airways
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Most of the world is calling the U.S. “Ponzination” because of all the Ponzi schemes that have come to light in the past few weeks. Yesterday, Agape Nation scammed hundreds of millions from investors, a couple weeks ago, Bernie Madoff “made off ” with BILLIONS from investors from all over the globe.
Today we hear that several banks had severe losses because of investments with these various Ponzi schemes. How did we get so Greedy in America when we have so much?
More evidence :
Several people that were involved in the US Airways crash after the plane hit a flock of GEESE, are not happy with the $5000 check that the airline gave every passenger on the airplane. They are in the process of hiring lawyers for there emotional distress. We used to call these accidents “acts of God” but believe me, God would have nothing to do with it if he saw how normal people, all of a sudden, became greedy!
Also, every State and Governor is now fighting over the Billions in ”FREE” taxpayer stimulus money to help them pay for the HUGE deficits that every State has created. Don’t they understand that by using Billions of taxpayer dollars for pet programs, that year after year, these bills will come due. You cannot spend your way out of OVERSPENDING — especially in a down economy! Even Nancy Pelosi says that spending over $400 MILLION on free birth control is good for the country(she must think we need more illegal workers instead of new Americans)
Hopefully, Congress and the States will cut back, like we have to in our own homes during hard times, but first it looks like a feeding frenzy of Greedy politicians will continue. Is it any wonder so many Americans are now Greedy? What do you think?
Congress Bails itself out ! January 26, 2009
Posted by loanarranger in Uncategorized.Tags: bailout, Congress, digital conversion, digital TV, judge
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The Senate just passed a bill( unanamous vote) that would DELAY the Nationwide conversion to Digital TV until June 17th 2009 — another 4 months.
They had to either extend the time or come up with another $1.53 BILLION for coupons, since all the $40 rebate coupons have been used up. If you don’t use your coupon in 90 days, it expires. Many people ordered 2 coupons because they could — not that they needed a digital converter box. You only need a box if you only use rabbit ears for TV now.
SO here is something to ponder === Congress screwed up a simple program that gave out $40 coupons, how can we trust them to not screw up upcoming legislation to allow bankruptcy judges to FORCE banks to take less on homeowner loans. So if your are 2 months behind on your mortgage, your house is now worth $200,000 but you owe $300,000 === a judge will be able to force the bank to lower your loan to $200,000 === in the name of keeping people in their homes.
How many red-blooded Americans could turn down the temptation to save $100,000 by intentionally missing 2 payments and seeing the judge??
I say not many, because remember GREED is what got us into this mess in the first place. But don’t worry–Congress knows what they are doing!
UPDATE: ON Jan 28th The HOUSE voted to NOT extend the time for conversion–Standby for more Congressional action….
Free IRS filing this year ! January 26, 2009
Posted by loanarranger in Uncategorized.Tags: free e-filing
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Free e-filing for all through the IRS this year – YES !
Did you know that you can prepare and e-file your income tax completely for free this year regardless of your income? Last year the IRS had strict limits on who could use free tax prep software.
If you want to file for free, go to IRS.gov and you’ll see a list of participating software vendors.
Be aware that certain vendors won’t let you do the free prep and e-filing if your income is above $56,000/year, so take note of each one’s individual restrictions. But you’re guaranteed to find some that certainly will this year. Select vendors will also allow you to do your state income tax as well.
What will the IRS do with all the time they save by not going over paper copies —- maybe more AUDITS !!
Homebuyer bailout ! January 26, 2009
Posted by loanarranger in Uncategorized.Tags: homebuyer, homebuyer credit, IRS credit
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TAKE THE $7500 CREDIT !
Congress is on the verge of transforming the first time homebuyer credit into a real credit —-one you do not have to pay back! It is tucked away in pages of the new stimulus bill.
You need to buy your house between April 8, 2008 and July 1, 2009. Go to www.IRS.gov and get the new Form 5405.
An OK deal before is now a GREAT deal.
Mortgage Rates January 26, 2009
Posted by loanarranger in Uncategorized.Tags: economy, mortgage rates, Obama, rates, rates rising, stimulus package
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I thought mortgage rates would continue to head downward after President Obama took office. However now, it looks like the best may be over or very close to being over! Even though the Press is still in Love with Obama and bad economic news is spun to the positive on the nightly news now — many on Wall Street are getting nervous.
The Fed is buying Mortgage backed securities by the Billions daily, but Wall Street investors will not touch or trust mortgages yet. There is already talk of what will happen when the FED quits buying mortgages. Will the real estate market be fixed by then or will rates skyrocket?
According to the Sunday talk shows, the new “stimulus” package will be
1 TRILLION or higher. Will it create jobs as advertised, or just be “payoffs” for State projects from the taxpayers pocket. States are giddy on having the taxpayers pay for all their projects.
Check out newspapers anywhere in the US or the world! http://www.newseum.org/todaysfrontpages
Look at the headlines for almost every city in every State —- all laden with pet projects from the U.S. Congressional Stimulus windfall. Will buying solar panels for school, building new bridges, building light rail for cities, etc, etc give us long term jobs? Something doesn’t smell right!
The reason rates may not go down again is simple —- Wall Street investors see lots of spending, meaning, when we pay the bills later it will be 70’s style double digit inflation and interest rates. We were promised change –but when it is a joke that the new Treasury Secretary didn’t pay his taxes for 4 years, and no one in the new administration cares—nothing has changed!
I think once these “projects are approved” and the details are disclosed, rates have no where to go but —-UP !!
I hope I am wrong–what do you think?
What a Year — 2008 ! January 5, 2009
Posted by loanarranger in Uncategorized.Tags: 2008, Madoff, recession, uncle Jay
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That was a year that we will not see again in our lifetimes. I say that because most of us will remember all the mistakes we made—especially thinking that we could make 20-30% per year just by sitting in our home with appreciation. We also thought Mr Madoff could give us 10% plus income for over 20 years , in good and bad times , and not figure out it was a Ponzi scheme. I am surprised we got bit by GREED so quickly after the bug got us in the late 90’s with the DOT.com Scam that caused so many to lose their life savings. Maybe we will remember 2008 for the rest of our lives as we pay the Trillions that the Government is spending to FIX the economic problem.
However, if you want to see a quick RECAP of the Year check out UNCLE JAY at http://www.youtube.com/watch?v=TWiXy55OHyY
