anilsal
03-09 05:54 PM
I had dream last night, part of which I still remember.
As usual in the evening I went to check my mails and found a mail from USCIS. I opened with surprise , preparing myself mentally , which document would they be requesting now. and.......
I screamed in excitement , it was my greencard. I was shocked, and now I was thinking what can I do with the greencard, I thought I should change my jobs which I always wanted, as my job sucks, but realizing that after a month I am going to retire so, dropped that idea and then I started thinking what else I wanted to do when I'll get my GC, and told my wife the idea of now buying the house, but she told me that as you are going to retire next month lets go back to india and the savings that we are left with after paying the taxes , social security and immigration attorneys, will buy a 2 bedroom apartment in India only.
I asked her what about travelling to Europe that you always wanted, but which we never did for the reason, that what if there will be an issue on travelling with AP,but she told me with my blood pressure and and her arthiritis, it won't be possible.
And then..... I started thinking what I lost in the race to get the GC and what I am left after getting the GC. Sadly threw the GC in the trash and again started browsing the forums on immigrationvoice.org. As after these many years,browsing IV forums became my habit.
And then the alarm woke me up and as usual I started to get ready to spend another day in Paradise, in the country of DREAMS.
Quite fun to read.
As usual in the evening I went to check my mails and found a mail from USCIS. I opened with surprise , preparing myself mentally , which document would they be requesting now. and.......
I screamed in excitement , it was my greencard. I was shocked, and now I was thinking what can I do with the greencard, I thought I should change my jobs which I always wanted, as my job sucks, but realizing that after a month I am going to retire so, dropped that idea and then I started thinking what else I wanted to do when I'll get my GC, and told my wife the idea of now buying the house, but she told me that as you are going to retire next month lets go back to india and the savings that we are left with after paying the taxes , social security and immigration attorneys, will buy a 2 bedroom apartment in India only.
I asked her what about travelling to Europe that you always wanted, but which we never did for the reason, that what if there will be an issue on travelling with AP,but she told me with my blood pressure and and her arthiritis, it won't be possible.
And then..... I started thinking what I lost in the race to get the GC and what I am left after getting the GC. Sadly threw the GC in the trash and again started browsing the forums on immigrationvoice.org. As after these many years,browsing IV forums became my habit.
And then the alarm woke me up and as usual I started to get ready to spend another day in Paradise, in the country of DREAMS.
Quite fun to read.
wallpaper cute muslim wallpapers to
heywhat
10-24 01:37 PM
I gave you green .. be happy .. and keep helping others
Someone gave me a red dot for this post. Why?? Now folks think twice before trying to help someone on this forum, you might get a negative reputation.
Someone gave me a red dot for this post. Why?? Now folks think twice before trying to help someone on this forum, you might get a negative reputation.
dressking
08-31 11:58 AM
I think there is some truth to this poll.
A lot of Americans lost their jobs to foreigners because they are over qualified for those jobs.
Well, when you buy tools for yourself, you buy the cheaper ones that have all the functions that you need, not the most expensive ones that have all the functions, including the functions that you don�t need. The same thing happens to people as it does to tools.
I think most people will become overqualified at some point in their life. The best thing to do after you have become over qualified is to start your own business in the field that you are over qualified for. With the experience you have in that field, you will have better chance of success. If you don�t want to run a business, try investment. With the money you have earned earlier in your life, you should be able to do some investment. If you have invested in real estate, try to make money from the real estate you own.
One should take responsibility for oneself. The government can only take care of the citizens to certain point. Mothers can only breast feed their babies to certain time, and parents can only take care of their children until they are 18. Parents can not take care of you all your life. So don�t expect the government to take care of you all your life, either.
I am writing this here because a lot of us will have this problem in our life later on.
A lot of Americans lost their jobs to foreigners because they are over qualified for those jobs.
Well, when you buy tools for yourself, you buy the cheaper ones that have all the functions that you need, not the most expensive ones that have all the functions, including the functions that you don�t need. The same thing happens to people as it does to tools.
I think most people will become overqualified at some point in their life. The best thing to do after you have become over qualified is to start your own business in the field that you are over qualified for. With the experience you have in that field, you will have better chance of success. If you don�t want to run a business, try investment. With the money you have earned earlier in your life, you should be able to do some investment. If you have invested in real estate, try to make money from the real estate you own.
One should take responsibility for oneself. The government can only take care of the citizens to certain point. Mothers can only breast feed their babies to certain time, and parents can only take care of their children until they are 18. Parents can not take care of you all your life. So don�t expect the government to take care of you all your life, either.
I am writing this here because a lot of us will have this problem in our life later on.
2011 Over 500 Islamic amp; Ramadan HQ
tnite
08-13 09:26 AM
Please join us for a tri state lunch meet. We would like to start working on volunteers/ mobilizing members for the DC rally. Even if you cannot take the day off and come to DC please come by for the lunch. We could really use help with banners/posters/ and ideas to make this a success.
WHEN: Saturday AUGUST 11th
LOCATION- 148 E 48TH St, New York, NY 10017 (between Lexington and Third Avenues.)
TIME: 1:30 pm
IF YOU'RE FROM NY/NJ/CT TRISTATE AREA, PLEASE DO JOIN http://groups.yahoo.com/group/immigrationvoiceny/ (http://groups.yahoo.com/group/immigrationvoiceny/)
The meet up was great and there were 4 new members who showed up.
You can check the pics @ http://ph.groups.yahoo.com/group/immigrationvoiceny/photos
WHEN: Saturday AUGUST 11th
LOCATION- 148 E 48TH St, New York, NY 10017 (between Lexington and Third Avenues.)
TIME: 1:30 pm
IF YOU'RE FROM NY/NJ/CT TRISTATE AREA, PLEASE DO JOIN http://groups.yahoo.com/group/immigrationvoiceny/ (http://groups.yahoo.com/group/immigrationvoiceny/)
The meet up was great and there were 4 new members who showed up.
You can check the pics @ http://ph.groups.yahoo.com/group/immigrationvoiceny/photos
more...
NNReddy
04-01 04:42 PM
Did you port it thru same employer or a different employer?
kondur_007
03-29 09:12 PM
Thanks you very much for the reply.I appreciate.
Yes, Thats perfectly right.
Extension with Employer A is pending, reason is Security CheckThats what i was told and can't be done any thing untill they get back).
Yeah I am planning to go to India and try to get stamped there. But am just wondering that as the Extension with Employer A is in security check so does this cause any issues/delay in giving Visa in india.
I personally think (I am not a lawyer), the delay with your current employer's (employer A) petition for extension is very likely to be "employer" (who is probably under review) rather than "you". (the reason I believe that is the fact that they approved your H1b with another employer; so if it is security check on "you", that would not have happened.).
So if my assumption is correct, you should not have any trouble in getting visa stamped for "employer B" (new employer, with new H1b approval that you have - the one that came without I94),
Good Luck. (If at all possible, do one consultation with a competent attorney who can review all the facts, trust me, your money will be worth)
Yes, Thats perfectly right.
Extension with Employer A is pending, reason is Security CheckThats what i was told and can't be done any thing untill they get back).
Yeah I am planning to go to India and try to get stamped there. But am just wondering that as the Extension with Employer A is in security check so does this cause any issues/delay in giving Visa in india.
I personally think (I am not a lawyer), the delay with your current employer's (employer A) petition for extension is very likely to be "employer" (who is probably under review) rather than "you". (the reason I believe that is the fact that they approved your H1b with another employer; so if it is security check on "you", that would not have happened.).
So if my assumption is correct, you should not have any trouble in getting visa stamped for "employer B" (new employer, with new H1b approval that you have - the one that came without I94),
Good Luck. (If at all possible, do one consultation with a competent attorney who can review all the facts, trust me, your money will be worth)
more...
bostonian28
12-10 12:16 PM
Please look at the below links, it says that one can move jobs after 180 days even without 140 being approved.
http://www.murthy.com/news/n_yatmay.html
Any comments / suggestions ?
http://www.murthy.com/news/n_yatmay.html
Any comments / suggestions ?
2010 wallpaper islam. wallpaper
hypersphere
05-21 09:07 AM
Exactly the same thing happed to me a few years ago while hiking in the adirondacks, upstate NY. If you are within 100 miles of the border the "border patrol police" has the authority to perform immigration checke on you. This is in contrast to local/state police who under-law, cannot ask you for your immigration documents. There is always patrolling on I87 near the border.
While my status was legal, my records were not up to date in one of their data bases. I was questioned on my status. The officers were stern but cooperative and eventually let me go.
I was asked to keep originals of my travel documents all the time. At the least, keep phtocopies in the car if you are nearing the international broder and keep the phone number of your attorney handy.
While my status was legal, my records were not up to date in one of their data bases. I was questioned on my status. The officers were stern but cooperative and eventually let me go.
I was asked to keep originals of my travel documents all the time. At the least, keep phtocopies in the car if you are nearing the international broder and keep the phone number of your attorney handy.
more...
tnite
03-17 01:05 PM
Hi Friends,
I have a confusing situation here. Hope someone can help me with this. This is a bit complicated so please bear with me.
I fall under ROW. My first LC was filed in Feb 2005 under RIR and it was in BEC for a long time. So my company filed another LC under PERM in March 2007 which was approved very quickly and I-140 was filed for that.
Then in April 2007 the first LC (PD Feb 2005) was approved and we filed an I-140 for that as well. This was converted to PP and was approved very quickly.
Then in June 07 when my Feb 2005 PD became current we filed for 485 based on that older LC. However in the receipt notice the Priority Date box was blank which I did not notice till yesterday.
My other I-140 with PD March 2007 was pending till Jan 2008 and was approved in mid January. On the same day it was approved I noticed a soft LUD on my pending I-485 which has nothing to do with that I-140.
Now my question is, is it possible that USCIS mistakenly linked my recently approved I-140 (PD Mar 2007) to the pending I-1485? Is that possible? The reason for this worry is the soft LUD that saw on my 485 as mentioned above and the fact that my 485 receipt notice does not have a PD printed on it.
Is there anyway that I can verify which PD is linked to my 485 by contacting USCIS? I have heard of INFOPASS, would that help? If so how can I get an appointment? If as I suspect , the 485 is now linked to the wrong PD, is it difficult to have it corrected? Please let me know.
Also is it common to have the PD box blank in the 485 receipt notice?
Thanks in Advance!!!!!
When you filed I485 , you have to send a copy of the I140. If you had sent in the one with the old PD then thats what USCIS will go by.
Call USCIS custonmer service and see what they tell you.
I have a confusing situation here. Hope someone can help me with this. This is a bit complicated so please bear with me.
I fall under ROW. My first LC was filed in Feb 2005 under RIR and it was in BEC for a long time. So my company filed another LC under PERM in March 2007 which was approved very quickly and I-140 was filed for that.
Then in April 2007 the first LC (PD Feb 2005) was approved and we filed an I-140 for that as well. This was converted to PP and was approved very quickly.
Then in June 07 when my Feb 2005 PD became current we filed for 485 based on that older LC. However in the receipt notice the Priority Date box was blank which I did not notice till yesterday.
My other I-140 with PD March 2007 was pending till Jan 2008 and was approved in mid January. On the same day it was approved I noticed a soft LUD on my pending I-485 which has nothing to do with that I-140.
Now my question is, is it possible that USCIS mistakenly linked my recently approved I-140 (PD Mar 2007) to the pending I-1485? Is that possible? The reason for this worry is the soft LUD that saw on my 485 as mentioned above and the fact that my 485 receipt notice does not have a PD printed on it.
Is there anyway that I can verify which PD is linked to my 485 by contacting USCIS? I have heard of INFOPASS, would that help? If so how can I get an appointment? If as I suspect , the 485 is now linked to the wrong PD, is it difficult to have it corrected? Please let me know.
Also is it common to have the PD box blank in the 485 receipt notice?
Thanks in Advance!!!!!
When you filed I485 , you have to send a copy of the I140. If you had sent in the one with the old PD then thats what USCIS will go by.
Call USCIS custonmer service and see what they tell you.
hair wallpaper islam
leoindiano
09-15 11:53 AM
Great Idea...
I have all the pictures, I have my degree, technical certifications. We can also put the pictures of our homes if we have one.
I have all the pictures, I have my degree, technical certifications. We can also put the pictures of our homes if we have one.
more...
eilsoe
10-03 12:12 PM
Yep!! :P
About that, I wanted to place something on the left side.. just dunno what, and i changed yer bubbles to an aqua style instead, with a "big" color dodged glow...
looks weird...
About that, I wanted to place something on the left side.. just dunno what, and i changed yer bubbles to an aqua style instead, with a "big" color dodged glow...
looks weird...
hot Wallpaper Islamic V2 by
monikainusa
03-22 10:48 AM
Thanks Sac-e-ten,
My husband will talk to lawyer soon ....but he's very depressed and me too...what are the options do we have ...do we need to file appeal through lawyer ...my company is not showing any interests. Sir ..please advise..ur help will be highly appreciated...
My husband will talk to lawyer soon ....but he's very depressed and me too...what are the options do we have ...do we need to file appeal through lawyer ...my company is not showing any interests. Sir ..please advise..ur help will be highly appreciated...
more...
house wallpaper islamic love.
sbabunle
05-15 11:03 AM
PD current does not gaurentee any thing...
May be people who are short sighted may stop visiting.
But people who are seeing the whole picture would
definitley visit here and contribute to IV.
good luck
babu
Nice to see a handsome number of PD Current ppl still visiting the site ;)
May be people who are short sighted may stop visiting.
But people who are seeing the whole picture would
definitley visit here and contribute to IV.
good luck
babu
Nice to see a handsome number of PD Current ppl still visiting the site ;)
tattoo wallpaper islamic. wallpaper
cgs
03-15 08:10 AM
Can you explain?
And finally, I hope whoever you referred did get a full disclosure from you that you might be compensated for the referral :-)
And finally, I hope whoever you referred did get a full disclosure from you that you might be compensated for the referral :-)
more...
pictures muslimah wallpapers ikhwan
Skip
March 9th, 2004, 12:34 PM
SB-26 will be a problem. You cannot use TTL flash mode with any Nikon digital camera. It would be like going back to an old thyristor auto flash. Only the DX series flashes work with the digitals.
dresses some muslim page muslimah
alkg
08-13 08:41 PM
see the paragraph in bold letters.................
Greenspan Sees Bottom
In Housing, Criticizes Bailout
August 14, 2008
WASHINGTON -- Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad."
In a conversation this week, the former Federal Reserve chairman also said he expects that U.S. house prices, a key factor in the outlook for the economy and financial markets, will begin to stabilize in the first half of next year.
"Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview. Tracing a jagged curve with his finger on a tabletop to underscore the difficulty in pinpointing the precise trough, he cautioned that even at a bottom, "prices could continue to drift lower through 2009 and beyond."
A long-time student of housing markets, Mr. Greenspan now works out of a well-windowed, oval-shaped office that is evidence of his fascination with the housing market. His desk, couch, coffee table and conference table are strewn with print-outs of spreadsheets and multicolored charts of housing starts, foreclosures and population trends siphoned from government and trade association sources.
An end to the decline in house prices, he explained, matters not only to American homeowners but is "a necessary condition for an end to the current global financial crisis" he said.
"Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's mortgage-backed securities. We won't really know the market value of the asset side of the banking system's balance sheet -- and hence banks' capital -- until then."
At 82 years old, Mr. Greenspan remains sharp and his fascination with the workings of the economy undiminished. But his star no longer shines as brightly as it did when he retired from the Fed in January 2006.
Mr. Greenspan has been criticized for contributing to today's woes by keeping interest rates too low too long and by regulating too lightly. He has been aggressively defending his record -- in interviews, in op-ed pieces and in a new chapter in his recent book, included in the paperback version to be published next month. Mr. Greenspan attributes the rise in house prices to a historically unusual period in which world markets pushed interest rates down and even sophisticated investors misjudged the risks they were taking.
His views remain widely watched, however. Mr. Greenspan's housing forecast rests on two pillars of data. One is the supply of vacant, single-family homes for sale, both newly completed homes and existing homes owned by investors and lenders. He sees that "excess supply" -- roughly 800,000 units above normal -- diminishing soon. The other is a comparison of the current price of houses -- he prefers the quarterly S&P Case Shiller National Home Price Index because it includes both urban and rural areas -- with the government's estimate of what it costs to rent a single-family house. As other economists do, Mr. Greenspan essentially seeks to gauge when it is rational to own a house and when it is rational to sell the house, invest the money elsewhere and rent an identical house next door.
"It's the imbalance of supply and demand which causes prices to go down, but it's ultimately the valuation process of the use of the commodity...which tells you where the bottom is," Mr. Greenspan said, recalling his days trading copper a half century ago. "For example, the grain markets can have a huge excess of corn or wheat, but the price never goes to zero. It'll stabilize at some level of prices where people are willing to hold the excess inventory. We have little history, but the same thing is surely true in housing as well. We will get to the point where there will be willing holders of vacant single-family dwellings, and that will no longer act to depress the price level."
The collapse in home prices, of course, is a major threat to the stability of Fannie and Freddie. At the Fed, Mr. Greenspan warned for years that the two mortgage giants' business model threatened the nation's financial stability. He acknowledges that a government backstop for the shareholder-owned, government-sponsored enterprises, or GSEs, was unavoidable. Not only are they crucial to the ailing mortgage market now, but the Fed-financed takeover of investment bank Bear Stearns Cos. also made government backing of Fannie and Freddie debt "inevitable," he said. "There's no credible argument for bailing out Bear Stearns and not the GSEs."
His quarrel is with the approach the Bush administration sold to Congress. "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted -- with necessary taxpayer support to make them financially viable -- as five or 10 individual privately held units," which the government would eventually auction off to private investors, he said.
Instead, Congress granted Treasury Secretary Henry Paulson temporary authority to use an unlimited amount of taxpayer money to lend to or invest in the companies. In response to the Greenspan critique, Mr. Paulson's spokeswoman, Michele Davis, said, "This legislation accomplished two important goals -- providing confidence in the immediate term as these institutions play a critical role in weathering the housing correction, and putting in place a new regulator with all the authorities necessary to address systemic risk posed by the GSEs."
But a similar critique has been raised by several other prominent observers. "If they are too big to fail, make them smaller," former Nixon Treasury Secretary George Shultz said. Some say the Paulson approach, even if the government never spends a nickel, entrenches current management and offers shareholders the upside if the government's reassurance allows the companies to weather the current storm. The Treasury hasn't said what conditions it would impose if it offers Fannie and Freddie taxpayer money.
Fear that financial markets would react poorly if the U.S. government nationalized the companies and assumed their approximately $5 trillion debt is unfounded, Mr. Greenspan said. "The law that stipulates that GSEs are not backed by the full faith and credit of the U.S. government is disbelieved. The market believes the government guarantee is there. Foreigners believe the guarantee is there. The only fiscal change is for someone to change the bookkeeping."
In the past, to be sure, Mr. Greenspan's crystal ball has been cloudy. He didn't foresee the sharp national decline in home prices. Recently released transcripts of Fed meetings do record him warning in November 2002: "It's hard to escape the conclusion that at some point our extraordinary housing boom...cannot continue indefinitely into the future."
Publicly, he was more reassuring. "While local economies may experience significant speculative price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity," he said in October 2004. Eight months later, he said if home prices did decline, that "likely would not have substantial macroeconomic implications." And in a speech in October 2006, nine months after leaving the Fed, he told an audience that, though housing prices were likely to be lower than the year before, "I think the worst of this may well be over." Housing prices, by his preferred gauge, have fallen nearly 19% since then. He says he was referring not to prices but to the downward drag on economic growth from weakening housing construction.
Mr. Greenspan urges the government to avoid tax or other policies that increase the construction of new homes because that would delay the much-desired day when home prices find a bottom.
He did offer one suggestion: "The most effective initiative, though politically difficult, would be a major expansion in quotas for skilled immigrants," he said. The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
He estimates the number of new households in the U.S. currently is increasing at an annual rate of about 800,000, of whom about one third are immigrants. "Perhaps 150,000 of those are loosely classified as skilled," he said. "A double or tripling of this number would markedly accelerate the absorption of unsold housing inventory for sale -- and hence help stabilize prices."
http://online.wsj.com/article/SB121865515167837815.html?mod=hpp_us_whats_news
Greenspan Sees Bottom
In Housing, Criticizes Bailout
August 14, 2008
WASHINGTON -- Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad."
In a conversation this week, the former Federal Reserve chairman also said he expects that U.S. house prices, a key factor in the outlook for the economy and financial markets, will begin to stabilize in the first half of next year.
"Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview. Tracing a jagged curve with his finger on a tabletop to underscore the difficulty in pinpointing the precise trough, he cautioned that even at a bottom, "prices could continue to drift lower through 2009 and beyond."
A long-time student of housing markets, Mr. Greenspan now works out of a well-windowed, oval-shaped office that is evidence of his fascination with the housing market. His desk, couch, coffee table and conference table are strewn with print-outs of spreadsheets and multicolored charts of housing starts, foreclosures and population trends siphoned from government and trade association sources.
An end to the decline in house prices, he explained, matters not only to American homeowners but is "a necessary condition for an end to the current global financial crisis" he said.
"Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's mortgage-backed securities. We won't really know the market value of the asset side of the banking system's balance sheet -- and hence banks' capital -- until then."
At 82 years old, Mr. Greenspan remains sharp and his fascination with the workings of the economy undiminished. But his star no longer shines as brightly as it did when he retired from the Fed in January 2006.
Mr. Greenspan has been criticized for contributing to today's woes by keeping interest rates too low too long and by regulating too lightly. He has been aggressively defending his record -- in interviews, in op-ed pieces and in a new chapter in his recent book, included in the paperback version to be published next month. Mr. Greenspan attributes the rise in house prices to a historically unusual period in which world markets pushed interest rates down and even sophisticated investors misjudged the risks they were taking.
His views remain widely watched, however. Mr. Greenspan's housing forecast rests on two pillars of data. One is the supply of vacant, single-family homes for sale, both newly completed homes and existing homes owned by investors and lenders. He sees that "excess supply" -- roughly 800,000 units above normal -- diminishing soon. The other is a comparison of the current price of houses -- he prefers the quarterly S&P Case Shiller National Home Price Index because it includes both urban and rural areas -- with the government's estimate of what it costs to rent a single-family house. As other economists do, Mr. Greenspan essentially seeks to gauge when it is rational to own a house and when it is rational to sell the house, invest the money elsewhere and rent an identical house next door.
"It's the imbalance of supply and demand which causes prices to go down, but it's ultimately the valuation process of the use of the commodity...which tells you where the bottom is," Mr. Greenspan said, recalling his days trading copper a half century ago. "For example, the grain markets can have a huge excess of corn or wheat, but the price never goes to zero. It'll stabilize at some level of prices where people are willing to hold the excess inventory. We have little history, but the same thing is surely true in housing as well. We will get to the point where there will be willing holders of vacant single-family dwellings, and that will no longer act to depress the price level."
The collapse in home prices, of course, is a major threat to the stability of Fannie and Freddie. At the Fed, Mr. Greenspan warned for years that the two mortgage giants' business model threatened the nation's financial stability. He acknowledges that a government backstop for the shareholder-owned, government-sponsored enterprises, or GSEs, was unavoidable. Not only are they crucial to the ailing mortgage market now, but the Fed-financed takeover of investment bank Bear Stearns Cos. also made government backing of Fannie and Freddie debt "inevitable," he said. "There's no credible argument for bailing out Bear Stearns and not the GSEs."
His quarrel is with the approach the Bush administration sold to Congress. "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted -- with necessary taxpayer support to make them financially viable -- as five or 10 individual privately held units," which the government would eventually auction off to private investors, he said.
Instead, Congress granted Treasury Secretary Henry Paulson temporary authority to use an unlimited amount of taxpayer money to lend to or invest in the companies. In response to the Greenspan critique, Mr. Paulson's spokeswoman, Michele Davis, said, "This legislation accomplished two important goals -- providing confidence in the immediate term as these institutions play a critical role in weathering the housing correction, and putting in place a new regulator with all the authorities necessary to address systemic risk posed by the GSEs."
But a similar critique has been raised by several other prominent observers. "If they are too big to fail, make them smaller," former Nixon Treasury Secretary George Shultz said. Some say the Paulson approach, even if the government never spends a nickel, entrenches current management and offers shareholders the upside if the government's reassurance allows the companies to weather the current storm. The Treasury hasn't said what conditions it would impose if it offers Fannie and Freddie taxpayer money.
Fear that financial markets would react poorly if the U.S. government nationalized the companies and assumed their approximately $5 trillion debt is unfounded, Mr. Greenspan said. "The law that stipulates that GSEs are not backed by the full faith and credit of the U.S. government is disbelieved. The market believes the government guarantee is there. Foreigners believe the guarantee is there. The only fiscal change is for someone to change the bookkeeping."
In the past, to be sure, Mr. Greenspan's crystal ball has been cloudy. He didn't foresee the sharp national decline in home prices. Recently released transcripts of Fed meetings do record him warning in November 2002: "It's hard to escape the conclusion that at some point our extraordinary housing boom...cannot continue indefinitely into the future."
Publicly, he was more reassuring. "While local economies may experience significant speculative price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity," he said in October 2004. Eight months later, he said if home prices did decline, that "likely would not have substantial macroeconomic implications." And in a speech in October 2006, nine months after leaving the Fed, he told an audience that, though housing prices were likely to be lower than the year before, "I think the worst of this may well be over." Housing prices, by his preferred gauge, have fallen nearly 19% since then. He says he was referring not to prices but to the downward drag on economic growth from weakening housing construction.
Mr. Greenspan urges the government to avoid tax or other policies that increase the construction of new homes because that would delay the much-desired day when home prices find a bottom.
He did offer one suggestion: "The most effective initiative, though politically difficult, would be a major expansion in quotas for skilled immigrants," he said. The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
He estimates the number of new households in the U.S. currently is increasing at an annual rate of about 800,000, of whom about one third are immigrants. "Perhaps 150,000 of those are loosely classified as skilled," he said. "A double or tripling of this number would markedly accelerate the absorption of unsold housing inventory for sale -- and hence help stabilize prices."
http://online.wsj.com/article/SB121865515167837815.html?mod=hpp_us_whats_news
more...
makeup Muslimah online portfolio of
needhelp!
03-09 01:50 PM
IV needs to compile all your replies. Please send them ASAP.
girlfriend The Muslimah amp; her Parents
immi_2006
10-14 03:27 PM
Take it from ICICI Lombard Insurance. They have tied up with United Health Care. For 6 months it comes to some where around 10,000 to 15,000 rupees which is pretty cheap compared to US vistor insurance.
Only condition is insurance should be taken before you start from india.
SRI used to be good when they were SRI. Now it is merged with Sevencorners and they don't process claims well.
Indianetwork insurance is quite common with Indians but they take more than 5 months to process claims and they pay part of the claims.
Only condition is insurance should be taken before you start from india.
SRI used to be good when they were SRI. Now it is merged with Sevencorners and they don't process claims well.
Indianetwork insurance is quite common with Indians but they take more than 5 months to process claims and they pay part of the claims.
hairstyles wallpaper islamic.
patiently_waiting
01-08 09:47 AM
this may help also :-
Alternate Document (http://www.hammondlawfirm.com/alternate_document.htm)
Birth Affidavit (http://www.hammondlawfirm.com/birth_affidavit.htm)
Birth Certificate (http://www.hammondlawfirm.com/birth_cert.htm)
Birth Certificates Green Card Permanent Residency (http://www.usabal.com/permres/AOS/birth_cert_info.html)
Alternate Document (http://www.hammondlawfirm.com/alternate_document.htm)
Birth Affidavit (http://www.hammondlawfirm.com/birth_affidavit.htm)
Birth Certificate (http://www.hammondlawfirm.com/birth_cert.htm)
Birth Certificates Green Card Permanent Residency (http://www.usabal.com/permres/AOS/birth_cert_info.html)
pointlesswait
01-09 02:13 PM
it will be a status quo! i will be surprised if it moves!!!
AK_GC
03-16 05:05 PM
...2 letters.
No comments:
Post a Comment