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Fannie To Allow Mortgage Walkaways by On-Time Borrowers

"Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money. Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property’s value and the size of its mortgage." Continue reading →

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Get ready for Washington’s “Automatic IRAs”

"The basic gist is that businesses with 10 or more employees would be required to start funding a new form of individual retirement account. While businesses that already have retirement plans would be exempt, it’s estimated the legislation would affect about 40 percent of the U.S. workforce. Employees would be automatically enrolled. What kind of investment choices would be offered? That’s not clear yet, though Mr. John — the initial creator — has said: 'There could be an R-Bond account at Treasury for first-time savers, but that money would be rolled into private sector accounts once the individual accounts reached a certain size.'" Continue reading →

Continue ReadingGet ready for Washington’s “Automatic IRAs”

Get ready for Washington’s “Automatic IRAs”

"The basic gist is that businesses with 10 or more employees would be required to start funding a new form of individual retirement account. While businesses that already have retirement plans would be exempt, it’s estimated the legislation would affect about 40 percent of the U.S. workforce. Employees would be automatically enrolled. What kind of investment choices would be offered? That’s not clear yet, though Mr. John — the initial creator — has said: 'There could be an R-Bond account at Treasury for first-time savers, but that money would be rolled into private sector accounts once the individual accounts reached a certain size.'" Continue reading →

Continue ReadingGet ready for Washington’s “Automatic IRAs”

Oklahomans Going It Alone Against Smart Meters?

Whether or not we are personally concerned about the possible privacy, security or health issues that surround smart meters, we all should be concerned when our government is not being properly responsive to those who have serious objections to having a smart meter installed on their property or homes Continue reading →

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Banks, at Least, Had a Friend in Geithner

"As financial adviser to the president in the tumultuous years immediately after the credit crisis, Mr. Geithner had immense sway over the government’s approach to all things economic. For everyday Americans, his major tasks included responding to the home foreclosure mess, unwinding federal bailouts under the Troubled Asset Relief Program and tackling the problem of financial institutions that are too big to manage and too interconnected for America’s good. But in scanning these agenda items, a pattern of winners and losers emerges. Let’s just say the financial institutions that dominate the United States were rarely on the losing end in the Geithner years." Continue reading →

Continue ReadingBanks, at Least, Had a Friend in Geithner

Ireland votes to liquidate Anglo Irish Bank

"Anglo Irish Bank will be liquidated under the plan and its outstanding debt will be converted into a new long-term bond intended to spread the repayment over a longer period of time cutting the cost to the state. At present, the Irish government must pay €3.1bn (£2.7bn) every year to service the debt it took on to rescue the bank, equivalent to about 2pc of the country's GDP. The lender's collapse in 2008 forced the government to provide a guarantee for the debts of the country's entire banking system. Ireland was eventually forced to request an €67.5bn bailout from the EU and IMF as the costs of the banking rescue proved too much." Continue reading →

Continue ReadingIreland votes to liquidate Anglo Irish Bank

Scotland – In Or Out Of The UK?

"Prime Minister David Cameron last night launched a defence of the United Kingdom as his government prepared to put the 'facts' about Scottish independence to the ­public. He also criticised the SNP government for giving the illusion that the referendum result was already 'in the bag' by last week’s publication of a transition document with a timetable for full statehood following a Yes vote in 2014. Cameron said: 'Britain is admired around the world as a source of prosperity, power and security.' Britain has built up 'world-renowned' institutions such as the NHS and BBC, he insisted and 'fought for freedom' in two world wars, leaving 'unbreakable bonds'." Continue reading →

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The UK – In Or Out Of The EU?

"Many British people are fearful that a referendum may create economic strife with the EU, whist many others feel that the referendum could set them free of the EU debt. (The UK has plenty enough debt of its own.) So, then, what is the point? Is Mister Cameron truly sowing the seeds of freedom? Or is this mere political posturing? Is he annoying the EU needlessly? Or is he possibly simply thumping his chest in order to diminish the number of votes that may be lost to UKIP (the UK Independent Party) in the election?" Continue reading →

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FDA on the verge of approving first bionic eye for the blind

"After years of research, the first bionic eye has seen the light of day in the United States, giving hope to the blind around the world. Developed by Second Sight Medical Products, the Argus II Retinal Prosthesis System has helped more than sixty people recover partial sight, with some experiencing better results than others. Consisting of 60 electrodes implanted in the retina and glasses fitted with a special mini camera, Argus II has already won the approval of European regulators. The US Food and Drug Administration is soon expected to follow suit, making this bionic eye the world’s first to become widely available." Continue reading →

Continue ReadingFDA on the verge of approving first bionic eye for the blind

75-year-old soybean farmer sees Monsanto lawsuit reach U.S. Supreme Court

"On the one side is Bowman, a single 75-year-old Indiana soybean farmer who is still tending the same acres of land as his father before him in rural south-western Indiana. On the other is a gigantic multibillion dollar agricultural business famed for its zealous protection of its commercial rights. The firm insists that it maintains patent rights on its genetically modified seeds even if sold by a third party with no restrictions put on its use – even if the seeds are actually only descendants of the original Monsanto seeds." Continue reading →

Continue Reading75-year-old soybean farmer sees Monsanto lawsuit reach U.S. Supreme Court