Cap The Credit Card Interest Rates!

Image by Public Citizen via Flickr

TARP funds are being dispursed to financial institutions today.

I just reviewed a story which addresses Washington State's proposal to pass a bill which would limit the interest rate on credit cards to 12%.

House bill aims to cap interest rates

My thoughts on the subject were expressed in my comment to the story:

It should be a FEDERAL LAW and the rate be "X" above the PRIME or lower. The law should also stipulate that only "x" amount of LATE and OVERLIMIT charges be allowed, and that after that, any unpaid balance would accrue interest at "x" above Prime.

If the government gives all this money to bailout the banks, they should pass laws to help head off the rising amounts of BANKRUPTCIES. Laws that would actually help the consumers pay their debt down, instead of allowing the banks to BURY THEM in interest and fees.

Why do we allow the banks to push the populace further in the hole? People get behind in their responsibilities, and the "swindlers" come in with their huge interest rates and continuous fees, which knocks the person further into debt, until their only option is bankruptcy.

Don't think the banks don't sell that debt to the next tier of "swindlers", for less, and then this tier adds another fee on top of the original balance. They then continually harass, attempting to collect the original amount plus the added "Collection Fee". These entities are called Collection Agencies.

The system is broke. Capitalism should not be fueled by those who would take advantage of the taxpayer, and then ask the government for a bailout.

They are effectively asking that same taxpayer to foot the bill when the banks and finance companies are "losing" money, because of their cheating business practices.

Wheww!!! I'm finished. Thanks for reading.

Swindlers Aren't Capitalists, They Are Crooks!

Unselfish Values and Morals. Is that what the USA lacks?

A huge reason for the present state of the country's economy is the belief in so many of the populaces' mind that there is only one person to be concerned with; Me!

Swindlers who believe their business, and wallets, will swell by taking advantage of the very people who provide their livelihood. I am not talking about the smart businessman or businesswoman who makes loads of cash from a successful enterprise. I am talking about the ones who feel as if everyone owes them, and they will do anything to make a buck. The "What About Me?" crowd.

You see them in all walks of life, not just in business. They engage in everyday life, wondering how the day can benefit them, instead of how they can benefit the day. Because they have got to have something, or be someone, they spend money that they really can't afford to spend. They borrow money they can't afford to borrow because they want a jet ski, a fishing boat, a four-wheeler or a new house.

But the economy runs on people buying stuff, doesn't it? Yes, it does. But when we buy, buy, buy for the prestige, the feeling of importance, or other like motives, without concern for how our family or others might be affected by the expanding indebtedness, then it is a very selfish mentality.

Now, I am not saying that all the people in debt are selfish. If it sounded like that, it was not my intent. What I am relaying is that we need to be a bit more cognizant of the needs of people around us, instead of ourselves. We need to stop centering our lives around our own needs, and what WE want.

There are also those who feel they don't need to do anything to get anything. They just want to be able to sign a check or swipe a government funded cash card. They work alright. They work to find ways that they can swipe those cards and sign those checks without working!

Now, here I go again. Don't think I am talking about the people who NEED some sort of assistance to survive. There are many of them, and I would not lower myself to say they should not be helped. How ever a good and moral society could help these people, it should.

Back to business. In the realm of the enterprise, it seems to me a solid business should be built on actually paying attention to its customers and clients. If it were to make a customer happy, it would most likely have a customer for life. A business that solicits its customers feedback on what works and what doesn't, what products to offer, how to better its service, and acts upon those recommendations, would surely build a larger, stronger and more loyal customer base.

The swindlers in business go for the "one shot, one kill" deal, and suck as much from their "customer" as they can, because they really don't expect to see them again anyway. They conjure up grand marketing schemes to lure in the unsuspecting, with promises of warranties and guarantees, that when exercised, they fight tooth and nail, or finally, begrudgingly honor.

Its a moral issue. If someone has a bad moral attitude, they won't care who they hurt or step on in their journey to riches. Someone with a better moral attitude, would want to help a customer find what they need and ensure they are satisfied because it is the right thing to do. With that mentality you build a better business.

The bailouts are all about businessman who wouldn't budge; who had to do it their way. Selfishness at its pinnacle. Banks who had to loan cash and greedily invest the interest gained in risky investments which promised top yields. Automakers who had to do things the way they have always done them, not willing to explore anything new, but cut every corner they possibly could without sacrificing an actual vehicle to sell. The retailers stocking more and more of those "things" everyone WANTS, and advertising that this is something you NEED, because you DESERVE it.

And I guess it works its way full circle. It comes back to the person who takes all of it in, and then says "Yeah, I deserve it."

I have many more thoughts on the subject, but then, I would be rambling. I will not be "selfish" and do that.

:^)

Forbes has an interesting piece of video on the subject.

SDI "Star Wars" - Still A Valid Defense

Image via Wikipedia

Remember Ronald Reagan's "Strategic Defense Initiative"?

The SDI program, Star Wars, was proposed to protect us from threat of missile attack.

Imagine if a terrorist group sponsored by some extremist nation was to launch an ICBM at the USA.

Would our government be able to say it is meeting it's obligation (set forth in the Preamble of the US Constitution) to provide for the common defense, if it knew of the risk that the US could be hit from anywhere in the world in 33 minutes or less, and failed to put measures in place for our protection?

A question long ago forgotten by many, with the Cold War over and the Soviet threat removed. Terrorist attacks are a constant threat to us.

Our Constitution's Preamble:

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense,[1] promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

The Heritage Foundation has released a video addressing this question of our security from a ballistic missile attack. Take a look and judge for yourself.

Unclench Our Fist to Iran and Extend Our Hand? Intel Report Whispers "Good Luck, Mr. President"

Image by danny.hammontree via Flickr

On March 3rd, 2007, the Chicago Sun-Times posted a report which quoted then presidential hopeful Senator Barack Obama as saying:

President Mahmoud Ahmadinejad "reckless, irresponsible and inattentive" to the day-to-day needs of the Iranian people.

The Iranian "regime is a threat to all of us," Obama said.

While Obama wouldn't rule out force, he said the United States should engage in "aggressive diplomacy combined with tough sanctions" to prevent Iran from becoming a nuclear threat.

The President's current approach to dealing with Iran may sound inviting, but the task borders on the impossible, considering that country's current goals, as outlined in the unclassified intelligence report summary released 02/12/09.

Below is a quote from the full transcript of Hisham Melhem's interview with President Obama on Al Arabiya TV, 1/27/09 with his comments concerning Iran:

But I do think that it is important for us to be willing to talk to Iran, to express very clearly where our differences are, but where there are potential avenues for progress. And we will over the next several months be laying out our general framework and approach. And as I said during my inauguration speech, if countries like Iran are willing to unclench their fist, they will find an extended hand from us.

What are the "potential avenues for progress" in the obvious "differences" our country's have?

The below excerpt is from the Annual Threat Assessment of the Intelligence Community for the Senate Select Committee on Intelligence . It outlines the latest status on Iran's government, tactics, motives and affiliations. The unclassified version anyway. I emphasis some pertinent "differences" that will need dealt with:

The Changing Geopolitical Landscape in the Middle East

In the Middle East, the revival of Iran as a regional power, the deepening of ethnic,
sectarian, and economic divisions across much of the region, and looming leadership succession among US allies are shaping the strategic landscape. Hizballah and HAMAS have successfully seized the mantle of resistance to Israel from moderate regimes with secular Arab nationalists being discredited in the popular mind. Battle lines are increasingly drawn not just between Israel and Arab countries but also between secular Arab nationalists and ascendant Islamic nationalist
movements inside moderate Arab states. Iran’s influence in Iraq, its enduring strategic ties to Syria, pursuit of a nuclear weapons capability, and the success of Tehran’s allies—HAMAS and Hizballah—are fueling Iran’s aspirations for regional preeminence. Arab Sunni leaders are struggling to limit Iran’s gains; Saudi Arabia’s more activist regional diplomacy falls short of significantly constraining Iran’s freedom of maneuver. Iran’s ambitions combined with unresolved conflicts in Iraq, Lebanon, and the Palestinian territories represent the principal flashpoints for intensified conflict in the region. Iran’s longstanding foreign policy goals are to preserve the Islamic regime, safeguard Iran’s sovereignty, defend its nuclear ambitions, and expand its influence in the region and the Islamic world. Iranian leaders perceive that regional developments—including the removal of Saddam and the Taliban, challenges facing the Untied States in Iraq and Afghanistan, the increased influence of HAMAS and Hizballah, and, until recently, higher oil revenues—have given Tehran more opportunities and freedom to pursue its objective of becoming a regional power. This perception has produced a more assertive Iranian foreign policy in which Tehran has focused on expanding ties in Iraq, Afghanistan, and the Levant to better influence and exploit regional political, economic, and security developments. Iran’s pursuit of nuclear weapon capability is another element in its more assertive foreign policy—an aspect that I will discuss later.

In Tehran, Iran’s conservative faction continues to dominate the government. Supreme Leader Khamenei has consolidated political power in his office, but his reliance on hardline conservative elements—the IRGC, war veterans turned politicians such as President Mahmud Ahmadi-Nejad, and selected clerics—to bolster his authority has upset the earlier factional balance in Iranian politics.

• Although the regime still comprises many competing factions, only those that support the concept of a powerful Supreme Leader and advocate revolutionary values now have a significant voice in decisionmaking. President Ahmadi-Nejad faces less than certain prospects for reelection in June because his management of the economy and aggressive foreign policy rhetoric have become sources of significant domestic criticism and political friction. Ahmadi-Nejad’s economic policies have reduced unemployment marginally, but have fueled significant inflation, providing his critics ample ammunition to question his competence. The sharp fall in global oil prices will add to Iran’s economic problems, but Tehran has a substantial cushion of foreign reserves to support social and other spending priorities. Less energy revenues may also help to dampen its foreign policy adventurism. We expect Khamenei will attempt to manipulate the presidential election, largely by limiting the range of candidates. As he has in past elections, the Supreme Leader probably will attempt to influence the decisions of individuals to run, monitor the vetting and approval of candidates, and influence media coverage of the campaign.

• We do not know if Khamenei will actively support Ahmadi-Nejad’s re-election. The
Supreme Leader publicly has expressed support for Ahmadi-Nejad’s administration, but we judge his statements are intended more to minimize criticisms of the regime than to endorse the President.

• Although we expect that whoever is elected will be a strong supporter of the Islamic
Republic, we note that the election of a more pragmatic figure may, over time, produce some moderation of Iranian behavior by introducing into the decisionmaking process a wider range of options than those presented under Ahmadi-Nejad.
Militarily, Iran continues to strengthen the three pillars of its strategic deterrence: surface-to-surface missiles, long-range rockets and aircraft for retaliation; naval forces to disrupt maritime traffic through key waterways; and unconventional forces and surrogates to conduct worldwide lethal operations. Although many of their statements are exaggerations, Iranian officials throughout the past year have repeatedly claimed both greater ballistic missile capabilities that could threaten US and allied interests and the ability to close the Strait of Hormuz using unconventional small boat operations, anti-ship cruise missiles, and other naval systems. Some officials, such as Islamic Revolutionary Guard Corps Commander Major General Mohammad Ali Jafari-Najafabadi, have hinted that Iran would have a hand in attacks on “America’s interests even in far away places,” suggesting Iran has contingency plans for unconventional warfare and terrorism against the United States and its allies. Iran’s goals in Iraq include preventing the emergence of a threat from Iraqi territory, either from the government of Iraq itself, or from the United States. To achieve this, Iran probably seeks a government in Baghdad in which Tehran’s Shia allies hold the majority of political, economic, and security power. Iran also has sought to make the United States suffer political, economic, and human costs in order to limit US engagement in the region and to ensure that Washington does not maintain a permanent military presence in Iraq or use its military to pressure or attack Iran.

• Iranian efforts to secure influence in Iraq encompass a wide range of activities, including using propaganda, providing humanitarian assistance, building commercial and economic ties, and supporting Shia elements fighting the Coalition. Iran has provided a variety of Shia militants with lethal support including weapons, funding, training, logistical and operational support, and intelligence training.

• We judge Iran will continue to calibrate its lethal aid to Iraqi Shia militants based on the threat it perceives from US forces in Iraq, the state of US-Iran relations, Tehran’s fear of a Ba’thist resurgence, Tehran’s desire to help defend Iraqi Shia against sectarian violence, and to maintain the ability to play a spoiler role in Iraq if Iran perceives the government of Iraq has become a strategic threat.

• Despite Tehran’s efforts, we judge Iraqi nationalism and the growing capabilities of the Iraqi government will limit Iranian influence in Iraq. Baghdad, for example, signed the US-Iraq security agreement despite Iranian opposition.

In Afghanistan, Iran has focused on promoting a friendly central government in Kabul and limiting Western power and influence. Iran’s policy in Afghanistan follows multiple tracks, including providing political and economic support to the Karzai government and developing relationships with actors across the political spectrum.

• Iran has opposed Afghan reconciliation talks with the Taliban as risking an increase in the group’s influence and legitimacy.

• We judge Iran distrusts the Taliban and opposes its return to power but uses the provision of lethal aid as a way to pressure Western forces, gather intelligence, and build ties that could protect Iran’s interests if the Taliban regains control of the country.

In the Levant, Tehran is focused on building influence in Lebanon and expanding the
capability of key allies. Tehran continues to support groups such as Hizballah, HAMAS, and Palestine Islamic Jihad (PIJ), which it views as integral to its efforts to challenge Israeli and Western influence in the Middle East.

• Hizballah is the largest recipient of Iranian financial aid, training, and weaponry, and Iran’s senior leadership has cited Hizballah as a model for other militant groups. We assess Tehran has continued to provide Hizballah with significant amounts of funding, training, and weapons since the 2006 conflict with Israel, increasing the group’s capabilities to pressure other Lebanese factions and to threaten Israel.

• Iran’s provision of training, weapons, and money to HAMAS since the 2006 Palestinian elections has bolstered the group’s ability to strike Israel and oppose the Palestinian Authority.

Senate Begins Voting on Economic Stimulus Bill

The House wrapped up today and passed the Bill, and handed it back over to the Senate to rush to the vote. They are currently passing the bill at the time of this writing. CSPAN reports 59 votes, and one more needed to pass:

Senate Voting on Stimulus Bill
Today

Earlier today, the House passed H.R. 1 by a vote of 246-183. The Senate is currently voting on final passage and currently has 59 YES votes and is waiting on Sen. Brown (D-OH) to make it 60. It takes sixty votes in the Senate for passage.

It would seem some workers at this Caterpiller plant don't believe this bill will help anything. It won't help them keep their jobs, at least, that's what the article says.

WE ARE SUNK

This excerpt from an article on the Washington Post website today, says it all:

But in a key symbolic rejection of that bipartisan reach, Rep. Aaron Schock (R-Ill.), a freshman who holds the seat once held by Lincoln, said he would vote no. Schock attended yesterday's event at Caterpillar's headquarters in his district, where President Obama pledged that the plan would save jobs at the construction company's plants. But afterward, Schock said in today's debate, "Not one employee at that facility approached me asked me to vote for this bill." He said more than 1,000 employees contacted him to ask that he oppose the bill.

The HAVE's and the HAVE NOT's, The Madoff's and the Dead Beats... And the rest of us stuck in the middle, stuck with the bill. As will be my kid's, and my grand-kids. Gee thanks Mr. President for the New Hope. More pork. More tennis courts for schools, More Welfare, More new computers for government agencies.

MORE TALK, NO WALK!!!