Wednesday, October 1, 2008

Section 8 is the Key to Solve Subprime Housing Mortgage Problem

Contact your Senator or House Rep to provide financial support of HUD to expand Section 8 voucher program to cover homeowners facing foreclosure. This will immediately and cost effectively restore credit of American financial systems. Why?

1. Subprime mortgage problem due to many American families not able to pay their mortgage on time. With expanded Section 8 program cover, only 30% income used for mortgage payment, Section 8 voucher cover the rest. Doing so will immediately restore the value of all mortgage back securities, and all derivatives involved, so are stock value of all banks and financial companies. It will also immediately removes millions of homes listing for sale on the market, and, therefore, stablize the housing value.

2. This will be temporary and limited as general Section 8 program did because the amount of voucher will reduce as time goes when the family income increases to be able to pay the mortgate all by themselves. Besides, homeowners grappling with mortgages for their own residences represent a far smaller percentage of the overall mortgage crisis. And, if these families were to be evicted and become homeless, HUD would still have to handle the problem thru Section 8, may be paying more on Section 8 voucher.

3. The Section 8 worked since 1974 that the vouchers will flow from families under foreclosure, to mortgage holders, to banks and insurance companies, and eventually generate lots of tax back to the government. The cash will flow many more hands from Main St to Wall St and generate huge economic gain.

4. There is no need to rewrite nor renegotiate any mortgage contract, prime or subprime or any type; credits in all levels and securities will be restored immediately.

If you love this country and would like to help, you want to act now. Be creative and innovative, if you can not reach your House Rep or Senator, try your mayor or governor or your realtor or broker, or forward this to all your friends and colleagues.

Friday, September 26, 2008

Increase FDIC insurance limit from $100,000 to $500,000 will prevent most bank fail.

Contact your Senator or House Rep to pass a bill to raise FDIC insurace limit from $100,000 to, say, $250,000 like IRA or even better $500,000 ($100,000 was set in 80's and not adjusted with inflation. This will prevent hundreds of banks from failure? Why?

1. Washington Mutual, the largest saving and loans just failed due to $16.7B deposit writhdrawn in last 9 days from account over $100,000. If the FDIC limit were $500,000, this amount should be reduced dramatically, and WaMu will not fail at the first place.

2. With higher amount of FDIC insurance, FDIC could levy more insurace fee from all 8,500 banks, and many healthy banks could contribute more to cover hundreds of weaker banks. The fund shall be increased from current $45B level.

If you believe you love this country and would like to help, you want to act now. Be creative and innovative, if you can not reach your House Rep or Senator, try your mayor or governor or your bank branch manager or CEO, or forward this to all your friends and colleagues.

Tuesday, June 17, 2008

DOJ should investigate Anti Trust Law Violation of Major Oil Companies in the US.

As we see the gas price kept going up because oil companies lack of enough competitions. All gas stations own by major oil companies such as ExxonMobil have gas price skyrocketing, while small unname gas stations used to provide the lowest gas price in town went out of business. I believe Department of Justice should launch investigation of Anti Trust Law Violation of major oil companies in the nation.

Back in 1984 when Americans had to pay 30 to 40 cents per minute for domestic long distance call, while AT&T's employees had free breakfast and CEO enjoy huge salary and bonus. DOJ eventually proved that AT&T violate Anti Trust Law and broke up the company into 8 companies. Thereafter, long distance call cost drop and innovative technologies invented by smaller competing telephone companies, and today the cost drop to less than 1 cent per minute.

I believe DOJ may find Oil Companies have seriously violated Anti Trust Law and when they are broken up into several smaller competing companies, the gas price will then drop down to affordable level, and innovative energy solutions will then be quickly invited and invested by small competitors. For example, DOJ should not let oil companies doing gas refinery to run gas stations. All ExxonMobil gas stations should not be own by ExxonMobile, and so on.

Any patriotic and concerned citizens should file report to Department of Justice and forward this message to all.


Subject RE: DOJ should investigate Anti Trust Law violation of major Oil Companies in the US.
From ATR-OPS Citizen Complaint Center < Antitrust.Complaints@usdoj.gov >
Date Wednesday, June 18, 2008 11:38 am

Dear Concerned Citizen:

Thank you for contacting the Antitrust Division of the U.S. Department of Justice with your concerns regarding oil companies in the US. The Citizen Complaint Center will review your complaint, and if there are any potential antitrust concerns or violations we will forward it to the appropriate legal staff for further review. We have your information on file and should the legal staff need further information, they may contact you in the future. If you have not done so already, you may also wish to contact the Department of Energy's gas watch:

We appreciate your interest in the enforcement of federal antitrust laws.
Sincerely,
Citizen Complaint Center
Antitrust Divison
Department Of Justice