I generally agree with yoru statement, all the tricks the FED did to print hosuing dollars are done now, now people have to bring real money, and that means wages. However I disagree with statement "businesses competing with foreign wages CANNOT pay higher wages to American workers". Businesses overpay their CEOs and upper management all the time (boards are made up of cronies, not directors working in best interest of stockowners) and big US businesses are generally making high profits and have record cash reserves. So businesses CAN afford to pay workers high wages, but rather, they simply WON'T because they do not have to (no laws, unions etc to force them) and the WON'T because unlike the waste of over-priced salaries at high-end of coroporate ladders, business are not so stupid and wasteful and low-end and they keep low and middle workers wages as low as they can or they outsource.
But just so you know in real world there is an alternative ( not one you will ever see in US due to our politics and people assumptions like yours) look at Germany. They are an exporting machine. Their companies are very competitive in world market AND their worker wages and benefits are much higher than US. They have higher horuly salaries, their workers get 6 weeks vacation from get go, etc.. Also, they are fairly heavily regulated, their companies are held to high safety standards, high worker fairness standards, and tough environmental standards and also their companies do a lot with expensive alternative energy.
So in my mind there are at least two ways to for a countries companies to be competitve on world market, China or Germany, the only option is NOT China and depressed wages and weak currency.
Again and again, I see smart people assuming we must just do a China to compete, low wages, weak currency, trash the environment, peel back regulations that keep workers safe and keep work place fair. Its like Germany's example does not enter our consciousness. No way we can have a strong social safety net, treat enviroment well, have a strong currency, pay workers well, regulate businesses to ensure fairness and still compete, pay not attention to Germany.
It may not be easy for US to replicate what is working for Germany, primarily simply because most in US media and culture has it so we don't even know it that at least one coutnry is already proven it is possible, but it is crazy not to at least look at what they are doing and see if maybe we could strive for something closer to them. Germany competes and grows and German workers benefit. Germans model is very good for the common wealth, and yet, all we can fixate on is China.
We see same phenomen in business. There are some companies that are very successful and treat their workers much better than average, while other companies see their only way to success is to treat low end workers as badly as possible and to overcompensate upper management. See simply Costco vs. Sam's club.
Stop self-limiting, we can be a globally competitive country and have a solid middle class and have clean air and water, safe workplaces. But we won't if we let crony upper management of US companies decide everything in their interest, because clearly, sh%^ting on workers and over-compensating themselves and their friends, corrupting our government for their purposes is what they will keep doing unless we fight for something better.
Bank Of America Lawsuits Highlight Broken, Ineffective Mortgage Modification Programs
The Attorneys General of Nevada and Arizona last week slapped Bank of America with lawsuits alleging widespread fraud occurrs in the bank’s mortgage modification programs. BofA, the nation’s biggest bank, has consistently lagged behind the other big mortgage servicers in successfully modifying mortgages for troubled borrowers. Andrew Jakabovics and I also caught the bank violating the contract it signed with Treasury to participate in the Home Affordable Modification Program (HAMP) by siphoning borrowers into its own private modification program without determining their HAMP eligibility.
But these lawsuits allege an even bigger mess, with BofA accused of giving deceptive and inaccurate reasons for rejecting modifications, and stringing borrowers along in the modification process for months, allowing them to continue making futile mortgage payments before ultimately foreclosing on them:
As a result of Bank of America’s misrepresentations, many Arizona consumers stopped making mortgage payments in a perilous attempt to qualify for help. Others waited for months for — or never received — answers on their modification requests, all while fearing that they would lose their homes; many actually lost their homes. Some consumers were misled to continue making payments in the belief that they would be able to obtain modifications and keep their homes.
Had they known they would lose their homes despite making payments, some consumers might have sough short sales or other foreclosure alternatives or simply allowed their homes to be foreclosed, saving the money from the additional payments for other necessary expenses. Other consumers lose willing buyers who could have mitigated their own (and Bank of America’s) financial losses by stepping in to purchase their homes.
Nevada’s attorney general told a very similar tale, accusing BofA of “misleading consumers with false assurances that their homes would not be foreclosed while their requests for modifications were pending, but sending foreclosure notices, scheduling auction dates, and even selling consumers’ homes while they waited for decisions.” The Upshot describes the “Boschian hell” that one Arizona family went through before having its home sold out from under it while waiting to see if it qualified for a modification.
Unfortunately, this story is all too common for homeowners seeking modifications. As Shahien Nasiripour noted today, 29,000 borrowers participating in HAMP have been stuck in the “trial modification” phase of the program for a year or more, unsure of whether they will ultimately keep their home, when that phase is only supposed to last three months. If those families are foreclosed upon in the end, they will have wasted months and months of payments that could have been used for something else.
HAMP, at this point, badly needs to fixed, and other foreclosure prevention efforts need to be undertaken. If they aren’t, the sorts of horror stories outlined above won’t stop, and the economy will continue to be weighed down by preventable foreclosures.
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
Neanderthals Enjoyed Home-Cooked Meals, Study Finds - AOL <b>News</b>
Even Neanderthals understood the value of a diverse diet. Researchers have identified strong evidence that the Neanderthal diet, previously thought to be almost exclusively meat-based, also included a nutritious portion of cooked ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case - AOL <b>News</b>
A former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, ...
Making <b>News</b> and Entertainment More Social in 2011 - Facebook <b>...</b>
In April, The Washington Post integrated Facebook Platform to create a social experience across the site with “Network News.” The Washington Post has seen more than 280% increase in referral traffic year-over-year, as news becomes ...
bench craft company scam
No comments:
Post a Comment