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Finally, don’t put on a Let’s Be Fair tone and say “But black people are racist too.” Because of course we’re all prejudiced (I can’t even stand some of my blood relatives, grasping, selfish folks), but racism is about the power of a group and in America it’s white folks who have that power. How? Well, white folks don’t get treated like shit in upper-class African-American communities and white folks don’t get denied bank loans or mortgages precisely because they are white and black juries don’t give white criminals worse sentences than black criminals for the same crime and black police officers don’t stop white folk for driving while white and black companies don’t choose not to hire somebody because their name sounds white and black teachers don’t tell white kids that they’re not smart enough to be doctors and black politicians don’t try some tricks to reduce the voting power of white folks through gerrymandering and advertising agencies don’t say they can’t use white models to advertise glamorous products because they are not considered “aspirational” by the “mainstream.

Racism is both overt and covert. It takes two, closely related forms: individual whites acting against individual blacks, and acts by the total white community against the black community. We call these individual racism and institutional racism. The first consists of overt acts by individuals, which cause death, injury or the violent destruction of property. This type can be recorded by television cameras; it can frequently be observed in the process of commission. The second type is less overt, far more subtle, less identifiable in terms of specific individuals committing the acts. But it is no less destructive of human life. The second type originates in the operation of established and respected forces in the society, and thus receives far less public condemnation than the first type. When white terrorists bomb a black church and kill five black children, that is an act of individual racism, widely deplored by most segments of the society. But when in that same city - Birmingham, Alabama - five hundred black babies die each year because of the lack of proper food, shelter and medical facilities, and thousands more are destroyed and maimed physically, emotionally and intellectually because of conditions of poverty and discrimination in the black community, that is a function of institutional racism. When a black family moves into a home in a white neighborhood and is stoned, burned or routed out, they are victims of an overt act of individual racism which many people will condemn - at least in words. But it is institutional racism that keeps black people locked in dilapidated slum tenements, subject to the daily prey of exploitative slumlords, merchants, loan sharks and discriminatory real estate agents. The society either pretends it does not know of this latter situation, or is in fact incapable of doing anything meaningful about it.

The only dream I ever had was the dream of New York itself, and for me, from the minute I touched down in this city, that was enough. It became the best teacher I ever had. If your mother is anything like mine, after all, there are a lot of important things she probably didn't teach you: how to use a vibrator; how to go to a loan shark and pull a loan at 17 percent that's due in thirty days; how to hire your first divorce attorney; what to look for in a doula (a birth coach) should you find yourself alone and pregnant. My mother never taught me how to date three people at the same time or how to interview a nanny or what to wear in an ashram in India or how to meditate. She also failed to mention crotchless underwear, how to make my first down payment on an apartment, the benefits of renting verses owning, and the difference between a slant-6 engine and a V-8 (in case I wanted to get a muscle car), not to mention how to employ a team of people to help me with my life, from trainers to hair colorists to nutritionists to shrinks. (Luckily, New York became one of many other moms I am to have in my lifetime.) So many mothers say they want their daughters to be independent, but what they really hope is that they'll find a well-compensated banker or lawyer and settle down between the ages of twenty-five and twenty-eight in Greenwich, Darien, or That Town, USA, to raise babies, do the grocery shopping, and work out in relative comfort for the rest of their lives. I know this because I employ their daughters. They raise us to think they want us to have careers, and they send us to college, but even they don't really believe women can be autonomous and take care of themselves.

It was fun to see him becoming sententious again, glorying in a science he had invented, and as positive as a village soothsayer. 'So one should neither give nor receive?' I laughed. 'And if the lover is poor, his mistress indigent, then both she and he must tactfully let themselves and each other die?' 'Let them die,' he repeated. I had accompanied him as far as the revolving glass door of the lobby. 'Let them die,' he said again. 'It's less dangerous. I can swear on my word of honor that I never gave a present or made a loan or an exchange of anything except . . . this . . .' He waved both hands in a complicated gesture which fleetingly indicated his chest, his mouth, his genitals, his thighs. Thanks no doubt to my fatigue, I was reminded of an animal standing on its hind legs and unwinding the invisible. Then he resumed his strictly human significance, opened the door, and easily mingled with the night outside, where the sea was already a little paler than the sky.

If I loan money to a friend or relative, the relationship will be strained or destroyed. The only relationship that would be enhanced is the kind resulting from one party being the master and the other party a servant.

Top Five Chinese Rules 1. Respect your parents, your elders and your teachers. Never talk back or challenge them under any circumstance. 2. Education is the most important thing. It's more important than independence, the pursuit of happiness and sex. 3. Pay back your parents when you are working. We were all born with a student loan debt to our Asian parents. Asian parents' retirement plans are their kids. 4. Always call your elders "Uncle" or "Auntie," even if they are not related to you. Never call them by their first names. 5. Family first, money second, pursue your dreams never.

Those I call Horace are absolutely convinced they’re some sort of social wit. Without a doubt they’re intelligent, and most likely very wealthy, although their wealth will come from a business they were set up in by others from their ‘school.’ They’ll have had no need to go to university. Rich people will have set them up in business, possibly Public Relations or something like that, they’ll have helped them write a business plan, loaned them money, and provided advice and guidance at every step of the way. Money would have been forthcoming from investors until the business was able to run itself. And then Horace will swan about as if he did it all himself.

There was also more practical inquiry. How should I make a living? How do I get my relatives out of my house? Could you help me postpone payment of this loan? The dervishes had jobs in the workday world: mason, weaver, bookbinder, grocer, hatmaker, tailor, carpenter. They were craftsmen and -women, not renunciates of everyday life, but affirmative makers and ecstatics. Some people call them sufis, or mystics. I say they're on the way of the heart.

Baseball also has statistical rigor. Its gurus have an immense data set at hand, almost all of it directly related to the performance of players in the game. Moreover, their data is highly relevant to the outcomes they are trying to predict. This may sound obvious, but as we’ll see throughout this book, the folks building WMDs routinely lack data for the behaviors they’re most interested in. So they substitute stand-in data, or proxies. They draw statistical correlations between a person’s zip code or language patterns and her potential to pay back a loan or handle a job. These correlations are discriminatory, and some of them are illegal.

The Rothschilds are people we certainly would not attempt to defend given the rumors swirling around them of financial corruption and market manipulation in this era and in earlier eras. However, the way they are held up, by conspiracy extremists and other paranoid thinkers, to represent the Jewish community is an absolute joke. There are good and bad people in all races. The fact that there are many Jews in the banking sector is being used by neo-Nazis and anti-Semites to try to sway the uneducated to believe the Jews are the problem instead of banking shysters and banksters in general. Another important point relating to the current Jewish prominence in the banking world is there is a very obvious historical reason for it...Historically Jews did not have much freedom of choice when it came to their occupations. In fact, they were once forbidden by Christian authorities, and by some Muslim authorities, to pursue most regular occupations. They were, however, permitted and even encouraged to enter the banking industry because, in the medieval era at least, Christians/Muslims were not allowed to charge fellow-Christians/Muslims interest, but someone had to make loans – so the Jews were charged with the task. Jews were also permitted to slaughter animals – another equally unsavory job – and they were then despised and mocked by entire communities for being animal slaughterers and bankers.

Another view of the Constitution was put forward early in the twentieth century by the historian Charles Beard (arousing anger and indignation, including a denunciatory editorial in the New York Times). He wrote in his book An Economic Interpretation of the Constitution: Inasmuch as the primary object of a government, beyond the mere repression of physical violence, is the making of the rules which determine the property relations of members of society, the dominant classes whose rights are thus to be determined must perforce obtain from the government such rules as are consonant with the larger interests necessary to the continuance of their economic processes, or they must themselves control the organs of government. In short, Beard said, the rich must, in their own interest, either control the government directly or control the laws by which government operates. Beard applied this general idea to the Constitution, by studying the economic backgrounds and political ideas of the fifty-five men who gathered in Philadelphia in 1787 to draw up the Constitution. He found that a majority of them were lawyers by profession, that most of them were men of wealth, in land, slaves, manufacturing, or shipping, that half of them had money loaned out at interest, and that forty of the fifty-five held government bonds, according to the records of the Treasury Department. Thus, Beard found that most of the makers of the Constitution had some direct economic interest in establishing a strong federal government: the manufacturers needed protective tariffs; the moneylenders wanted to stop the use of paper money to pay off debts; the land speculators wanted protection as they invaded Indian lands; slaveowners needed federal security against slave revolts and runaways; bondholders wanted a government able to raise money by nationwide taxation, to pay off those bonds. Four groups, Beard noted, were not represented in the Constitutional Convention: slaves, indentured servants, women, men without property. And so the Constitution did not reflect the interests of those groups. He wanted to make it clear that he did not think the Constitution was written merely to benefit the Founding Fathers personally, although one could not ignore the $150,000 fortune of Benjamin Franklin, the connections of Alexander Hamilton to wealthy interests through his father-in-law and brother-in-law, the great slave plantations of James Madison, the enormous landholdings of George Washington. Rather, it was to benefit the groups the Founders represented, the “economic interests they understood and felt in concrete, definite form through their own personal experience.

The new Anti-Drug Abuse Act authorized public housing authorities to evict any tenant who allows any form of drug-related criminal activity to occur on or near public housing premises and eliminated many federal benefits, including student loans, for anyone convicted of a drug offense. The act also expanded use of the death penalty for serious drug-related offenses and imposed new mandatory minimums for drug offenses, including a five-year mandatory minimum for simple possession of cocaine base—with no evidence of intent to sell. Remarkably, the penalty would apply to first-time offenders. The severity of this punishment was unprecedented in the federal system. Until 1988, one year of imprisonment had been the maximum for possession of any amount of any drug.

It is ludicrous to believe that asset bubbles can only be recognized in hindsight,” he wrote. “There are specific identifiers that are entirely recognizable during the bubble’s inflation. One hallmark of mania is the rapid rise in the incidence and complexity of fraud…. The FBI reports mortgage-related fraud is up fivefold since 2000.” Bad behavior was no longer on the fringes of an otherwise sound economy; it was its central feature.

For example, Shawn Cole, a professor at Harvard Business School, finds that Indian state-owned banks increase their lending to the politically important but relatively poor constituency of farmers by about 5 to 10 percentage points in election years.51 The effect is most pronounced in districts with close elections. The consequences of the lending are greater loan defaults and no measurable increase in agricultural output, which suggest that it really serves as a costly form of income redistribution.

My ten years of bank experience should be of interest to a rapidly growing bank like yours. In various capacities in bank operations with the Bankers Trust Company in New York, leading to my present assignment as Branch Manager, I have acquired skills in all phases of banking including depositor relations, credits, loans and administration. I will be relocating to Phoenix in May and I am sure I can contribute to your growth and profit. I will be in Phoenix the week of April 3 and would appreciate the opportunity to show you how I can help your bank meet its goals.

In order to seal the results of each body’s dissolution, you must have confidence in a particular view. Confidence in this case is not likened to trust in a certain outcome—as in “I’m confident I will not get sick,” or “I’m confident you will repay my loan with interest.” That kind of confidence is strongly related to one’s expectations. Rather, confidence in a view has more to do with confidence in being open to the outcome, whatever that outcome might be: “If I’m meant to be healed, it’s fine. If I’m not meant to be healed, it’s fine too.” Confidence in a view is similar to confidence in space.

Dear Sir: My ten years of bank experience should be of interest to a rapidly growing bank like yours. In various capacities in bank operations with the Bankers Trust Company in New York, leading to my present assignment as Branch Manager, I have acquired skills in all phases of banking including depositor relations, credits, loans and administration. I will be relocating to Phoenix in May and I am sure I can contribute to your growth and profit. I will be in Phoenix the week of April 3 and would appreciate the opportunity to show you how I can help your bank meet its goals. Sincerely, Barbara L. Anderson

Here are my simple rules for identifying market tops and bottoms: 1. Market tops are relatively easy to recognize. Buyers generally become overconfident and almost always believe “this time is different.” It’s usually not. 2. There’s always a surplus of relatively cheap debt capital to finance acquisitions and investments in a hot market. In some cases, lenders won’t even charge cash interest, and they often relax or suspend typical loan restrictions as well. Leverage levels escalate compared to historical averages, with borrowing sometimes reaching as high as ten times or more compared to equity. Buyers will start accepting overoptimistic accounting adjustments and financial forecasts to justify taking on high levels of debt. Unfortunately most of these forecasts tend not to materialize once the economy starts decelerating or declining. 3. Another indicator that a market is peaking is the number of people you know who start getting rich. The number of investors claiming outperformance grows with the market. Loose credit conditions and a rising tide can make it easy for individuals without any particular strategy or process to make money “accidentally.” But making money in strong markets can be short-lived. Smart investors perform well through a combination of self-discipline and sound risk assessment, even when market conditions reverse.

For if single women are looking for government to create a "hubby state" for them, what is certainly true is that their male counterparts have a long enjoy the fruits of a related "wifey state," in which the nation and its government supported male independence in a variety of ways. Men, and especially married wealthy white men, have a long relied on government assistance. It's a government that has historically supported white men's home and business ownership through grants, loans, incentives, and tax breaks. It has allowed them to accrue wealth and offer them shortcuts and bonuses for passing it down to their children. Government established white men's right to vote and thus exert control over the government at the nation's founding and has protected their enfranchisement. It has also bolstered the economic and professional prospects of men by depressing the economic prospects of women: by failing to offer women equivalent economic and civic protections, thus helping to create conditions whereby women were forced to be dependent on those men, creating a gendered class of laborers who took low paying or unpaid jobs doing the domestic and childcare work that further enabled men to dominate public spheres. But the growth of a massive population of women who are living outside those dependent circumstances puts new pressures on the government: to remake conditions in a way that will be more hospitable to female independence, to a citizenry now made up of plenty of women living economically, professionally, sexually, and socially liberated lives.

It is true that there are important differences between that money which plays the chief part in domestic trade, is the instrument of most exchanges, predominates in the dealings between consumers and sellers of consumption goods, and in loan transactions, and is recognized by the law as legal tender, and that money which is employed in relatively few transactions, is hardly ever used by consumers in their purchases, does not function as an instrument of loan operations, and is not legal tender. In popular opinion, the former money only is domestic money, the latter foreign money. Although we cannot accept this if we do not want to close the way to an understanding of the problem that occupies us, we must nevertheless emphasize that it has great significance in other connexions.

Let’s assume for a moment that we are starting to write a novel using Fred’s goal of wanting desperately to be first to climb the mountain. The reader now forms his story question. But the story has to start someplace, and it has to show dynamic forward movement. Let’s further assume, then, that Fred comes up with a game plan for his quest. He decides that his first step must be to borrow sufficient money to equip his expedition. So he walks into the Ninth District Bank of Cincinnati, sits down with Mr. Greenback, the loan officer, and boldly states his goal, thus: “Mr. Greenback, I want to be first to climb the mountain. But I must have capital to fund my expedition. Therefore I am here to convince you that you should lend me $75,000.” At this point, the reader sees clearly that this short-term goal relates importantly to the long-term story goal and the story question. So just as he formed a story question, the reader now forms a scene question, which again is a rewording of the goal statement: “Will Fred get the loan?” Here is a note so important that I want to set it off typographically: The scene question cannot be some vague, philosophical one such as, “Are bankers nice?” or “What motivates people like Fred?” The question is specific, relates to a definite, immediate goal, and can be answered with a simple yes or no.

Hamilton argued that the security of liberty and property were inseparable and that governments should honor their debts because contracts formed the basis of public and private morality: “States, like individuals, who observe their engagements are respected and trusted, while the reverse is the fate of those who pursue an opposite conduct.”The proper handling of government debt would permit America to borrow at affordable interest rates and would also act as a tonic to the economy. Used as loan collateral, government bonds could function as money—and it was the scarcity of money, Hamilton observed, that had crippled the economy and resulted in severe deflation in the value of land. America was a young country rich in opportunity. It lacked only liquid capital, and government debt could supply that gaping deficiency. The secret of managing government debt was to fund it properly by setting aside revenues at regular intervals to service interest and pay off principal. Hamilton refuted charges that his funding scheme would feed speculation. Quite the contrary: if investors knew for sure that government bonds would be paid off, the prices would not fluctuate wildly, depriving speculators of opportunities to exploit. What mattered was that people trusted the government to make good on repayment: “In nothing are appearances of greater moment than in whatever regards credit. Opinion is the soul of it and this is affected by appearances as well as realities.” Hamilton intuited that public relations and confidence building were to be the special burdens of every future treasury secretary.

Sam was about to travel to Asia with her boyfriend and she was fretting about what her backers would think if she released some of her new songs while she was 'on vacation'. She was worried that posting pictures of herself sipping a Mai Tai was going to make her look like an asshole. What does it matter? I asked her, where you are whether you're drinking a coffee, a Mai Tai or a bottle of water? I mean, aren't they paying for your songs so that you can... live? Doesn't living include wandering and collecting emotions and drinking a Mai Tai, not just sitting in a room writing songs without ever leaving the house? I told Sam about another songwriter friend of mine, Kim Boekbinder, who runs her own direct support website through which her fans pay her monthly at levels from $5 to $1,000. She also has a running online wishlist of musical gear and costumes kindof like a wedding registry, to which her fans can contribute money anytime they want. Kim had told me a few days before that she doesn't mind charging her backers during what she calls her 'staring at the wall time'. She thinks this is essential before she can write a new batch of songs. And her fans don't complain, they trust her process. These are new forms of patronage, there are no rules and it's messy, the artists and the patrons they are making the rules as they go along, but whether these artists are using crowdfunding (which is basically, front me some money so I can make a thing) or subscription services (which is more like pay me some money every month so that I can make things) or Patreon, which is like pay per piece of content pledge service (that basically means pay me some money every time I make a thing). It doesn't matter, the fundamental building block of all of these relationships boils down to the same simple thing: trust. If you're asking your fans to support you, the artist, it shouldn't matter what your choices are, as long as you're delivering your side of the bargain. You may be spending the money on guitar picks, Mai Tais, baby formula, college loans, gas for the car or coffee to fuel your all-night writing sessions. As long as art is coming out the other side, and you're making your patrons happy, the money you need to live (and need to live is hard to define) is almost indistinguishable from the money you need to make art. ... (6:06:57) ... When she posts a photo of herself in a vintage dress that she just bought, no one scolds her for spending money on something other than effects pedals. It's not like her fan's money is an allowance with nosy and critical strings attached, it's a gift in the form of money in exchange for her gift, in the form of music. The relative values are... messy. But if we accept the messiness we're all okay. If Beck needs to moisturize his cuticles with truffle oil in order to play guitar tracks on his crowdfunded record, I don't care that the money I fronted him isn't going towards two turntables or a microphone; just as long as the art gets made, I get the album and Beck doesn't die in the process.

would the Volcker amendment, had it been law in 2007, have prevented the 2008 financial crisis? The financial crisis was caused by the overleveraging of real estate-related securities in Bear Stearns and Lehman Brothers, which were investment banks and would not have fallen under the purview of the Volcker amendment. Nor would it have applied to the insurance giant AIG, which the Fed chose to save after seeing the turmoil unleashed by the Lehman bankruptcy. Furthermore, banks that obtained loans from the Fed, specifically Citibank and Bank of America, ran into trouble because of bad real estate loans, not proprietary trading. Given this history, it is dubious that the Volcker amendment, had it been in effect in 2007, would have changed the course of the financial crisis.

Health related emergency can occur in any one’s life without giving any prior notifications. It is quite tough for some of us to deal with their unexpected health troubles as they are not having sufficient amount of income or saving. To assist such unprivileged people in emergency healthcare loans are planned. With the assistance of this loan service borrowers can easily gain the desired amount of funds to deal with their unexpected health related emergency.

Until this past month, one could essentially purchase Canadian citizenship for about C$100,000 – the interest on a five-year loan of 800K to the government – a price tag that was kept under the radar of the populace, who grew furious on learning it was actually true. It was also collectively humiliated to learn how relatively cheap the price tag was. Also in Canadian citizenship news, Texas senator and Tea party enthusiast Ted Cruz – a man with presidential aspirations – has formally renounced his Canadian citizenship. Born in Canada in 1970 to an American mother, Cruz has always been an American citizen and is technically eligible to run for president, but his opponents ran a vicious smear campaign cruelly branding him as “Canadian Ted”.

What can be learned here is that often making do with less means having more energy and time for other things. Our relation to things becomes more relaxed in that we can look upon them as things that have been given for the short term, on loan so to speak. No longer claiming autonomy, they lose their power over their owners. The Sufis and many other traditions that are radically critical of possessions point to the jubilant leap into freedom.

Low interest payday cash loans. A payday loan might be your immediate resolution to a economic dilemma. A payday loans seems to become really appealing. It is quick to obtain a payday loan if you have a job. Payday loans are also obtainable for folks who aren't employed to work. It is not straightforward to modify your spending budget without the need of a loan. There can be countless payday loan organizations. Even individuals provide payday loans. The rate of interest is the watchword on a payday loan. It's essential to Pikavippikioski.fi ensure that you will be able to settle the cash borrowed. You are able to avert a disaster by asking for any payday loan. You'll have cash deposited in your bank’s saving account on the identical day. Higher interest rates on a loan may be extremely hard to deal with. The idea of a payday loan sounds virtually too great to become accurate. You are likely to acquire the cash in your savings or existing account. On payday, the quantity from the loan and also the interest are deducted out of your salary. In this manner, the loan as well as the recovery are set on autopilot. In most situations, these payday loans are for quick periods. There is certainly a significant distinction inside the rate of interest charged by banks and by private payday loan companies. People without a job would need to supply some other security of repayment. Consumers with undesirable credit generally do not get a bank loan. Banks usually look at your credit worthiness to determine regardless of whether you deserve a loan or not. Of most loans, a payday loan will be the most effective and easiest technique to get revenue swiftly. It is best to stay clear of obtaining extra than one payday loan in the very same time. Consumers using a payday loan must keep a fantastic eye on payments due. You should realize that the rates of interest are abnormally higher. A terrific a lot of people usually do not comprehend the workings of a payday loan. Men and women in some countries are told that payday loans are not superior for them. Occasionally it is actually preferable to reevaluate a payday loan. Your income level is of very important significance any time you ask to get a payday loan. You need to watch out, as the interest can commence finding really massive pretty quickly. The most effective point to do is pay the interest plus a small with the principal quantity every single week. A payday loan is some thing to assist you over your instant challenges. You may have noticed that banks take a while to approve a loan. People are often shocked to see this come about. You have to return the principal quantity as promptly as you can actually. You must be sure that you take out a payday loan as a last resort only. Payday loan organizations are bobbing up all more than the nation. It's thought of fraudulent in some locations for agencies to charge very higher rates of interest on loans. People who have issues in paying their month-to-month bills can opt for a payday loan. A payday loan is related together with your weekly or monthly paycheque. You might need to pay a value in exorbitant interest rates if you usually do not pay up in time. A payday loan is excellent for instant payment of bills.

whether your home costs $500,000 or $2 million. A 30-year loan on $270,000 at 6% requires an initial monthly payment of $1,618. With this technique, you would also write a second check for an extra $270—next month’s principal balance—a very small number, relatively speaking. That second check of $270 is money you’ll never pay interest on. To be clear, you’re not paying extra money; you’re simply prepaying next month’s principal a touch sooner. Hold yourself to this pay-it-forward strategy each month, and, again, you’ll be able to pay off a 30-year mortgage in just 15 years—cutting the total cost of your home by close to 50%.

Today, in the wake of the credit-card party of the eighties, it has become fashionable to live beyond one’s means. The nouveaux riches (new rich) are distinguished from old money families by their ostentatiousness and their colorful display of newfound status. But to live beyond one’s means, one must actually charge items for which one does not expect to pay. Oh, sure, there is the realization that the company will not let the bill go forever, but we will enjoy it now and worry later. This, too, is a form of theft. The creditor assumes that when we charge something, we intend to pay off the debt; but if that responsibility is not assumed by the debtor, there is a breech of contract—fraud, or, if you will, theft. It is not really our hard-earned cash that paid for the item, but the money loaned to us by the creditor. To default on our loans, of course, does not mean merely that we fail to pay for the item, but that we are requiring someone else to pay for it.

The new tactics were evident in the negotiations between Gorbachev and President George H. W. Bush in Malta (November 1989). Gorbachev’s amiability and willingness to make arms concessions was not related so much to a desire to lower the burden of military expenditures. That was strategically important but politically difficult. It would take time for the reduction in military spending to influence the economic situation in the USSR. Something else was of critical significance for the Soviets: the willingness of the United States and its allies to support government loans to the USSR, loans from the IMF and World Bank. For the Soviets, this was fundamental. In order to improve their chances of getting the money, they provided informal assurances that the USSR would not use force to maintain its political control in Eastern Europe.11

The new Anti-Drug Abuse Act authorized public housing authorities to evict any tenant who allows any form of drug-related criminal activity to occur on or near public housing premises and eliminated many federal benefits, including student loans, for anyone convicted of a drug offense. The act also expanded use of the death penalty for serious drug-related offenses and imposed new mandatory minimums for drug offenses, including a five-year mandatory minimum for simple possession of cocaine base—with no evidence of intent to sell.

Loans NRIs can give loans to resident Indians on a repatriable or non-repatriable basis. NRIs can also receive loans from residents. Loan from NRIs in foreign currency or on a repatriable basis A resident Indian can borrow up to US dollars 250,000 from NRI close relatives on a repatriation basis i.e. on repayment, the NRI can credit the funds in an NRE account and take this money back without any restrictions. The NRI should be a close relative of the borrower. Please check ‘Who is your relative’ for details. The amount of loan should be received by an inward remittance or by debit to the NRE/FCNR account. The loan should be a minimum of 1 year and without any interest. The funds cannot be used for agricultural/plantation/real estate business or for relending. Income: As the loan should be interest-free, no income can be generated. Taxability: As there is no income, there is no tax. Loan from NRIs in Indian rupees or on a non-repatriable basis A resident, not being a company incorporated in India, may borrow in rupees from an NRI on a non- repatriation basis. The period of loan should be 3 years or less and the rate of interest should not exceed 2% over the prevailing bank rate at the time of the loan. The loan has to be utilized for meeting the borrower’s personal requirement or for his business purposes. The funds cannot be used for agricultural/plantation/real estate business or for relending or for investment in shares, securities or immovable property. For example, Ms. Isumati has given an unsecured loan to her father’s firm earning 15% interest. If she goes to the UK for further studies and becomes an NRI, while she may continue with the loan, RBI rules would apply. The funds cannot be used for real estate business and if the bank rate is 10%, she cannot be paid more than 12% interest on her loan. Her father would also need to deduct TDS @ 30.9% on the interest. Income: Income from loans given to residents is interest. Taxability: The interest income on loans given is taxable for NRIs. Loans to NRIs NRIs are allowed to borrow from a bank/authorized

Geithner’s proposed terms for the loan—which drew heavily on the work of bankers he had asked to explore options for private financing for AIG—included a floating interest rate starting at about 11.5 percent. AIG would also be required to give the government an ownership share of almost 80 percent of the company. Tough terms were appropriate. Given our relative unfamiliarity with the company, the difficulty of valuing AIG FP’s complex derivatives positions, and the extreme conditions we were seeing in financial markets, lending such a large amount inevitably entailed significant risk. Evidently, it was risk that no private-sector firm had been willing to undertake. Taxpayers deserved adequate compensation for bearing that risk. In particular, the requirement that AIG cede a substantial part of its ownership was intended to ensure that taxpayers shared in the gains if the company recovered. Equally important, tough terms helped address the unfairness inherent in aiding AIG and not other firms, while also serving to mitigate the moral hazard arising from the bailout. If executives at similarly situated firms believed they would get easy terms in a government bailout, they would have little incentive to raise capital, reduce risk, or accept market offers for their assets or their company. The Fed and Treasury had pushed for tough terms for the shareholders of Bear Stearns and Fannie and Freddie for precisely these reasons. The political backlash would be intense no matter what we did, but we needed to show that we got taxpayers the best possible deal and had minimized the windfall that the bailout gave to AIG and its shareholders.

By some quirk of fate, I had been chosen—along with five others—as a candidate to be the next equerry to the Princess of Wales. I knew little about what an equerry actually did, but I did not greatly care. I already knew I wanted to do the job. Two years on loan to the royal household would surely be good for promotion, and even if it was not, it had to be better than slaving in the Ministry of Defense, which was the most likely alternative. I wondered what it would be like to work in a palace. Through friends and relatives I had an idea it was not all red carpets and footmen. Running the royal family must involve a lot of hard work for somebody, I realized, but not, surely, for the type of tiny cog that was all I expected to be. In the wardroom of the frigate, alongside in Loch Ewe, news of the signal summoning me to London for an interview had been greeted with predictable ribaldry and a swift expectation that I therefore owed everybody several free drinks. Doug, our quiet American on loan from the U.S. Navy, spoke for many. He observed me in skeptical silence for several minutes. Then he took a long pull at his beer, blew out his mustache, and said, “Let me get this straight. You are going to work for Princess Di?” I had to admit it sounded improbable. Anyway, I had not even been selected yet. I did not honestly think I would be. “Might work for her, Doug. Only might. There’re probably several smooth Army buggers ahead of me in the line. I’m just there to make it look democratic.” The First Lieutenant, thinking of duty rosters, was more practical. “Whatever about that, you’ve wangled a week ashore. Lucky bastard!” Everyone agreed with him, so I bought more drinks. While these were being poured, my eye fell on the portraits hanging on the bulkhead. There were the regulation official photographs of the Queen and Prince Philip, and there, surprisingly, was a distinctly nonregulation picture of the Princess of Wales, cut from an old magazine and lovingly framed by an officer long since appointed elsewhere. The picture had been hung so that it lay between the formality of the official portraits and the misty eroticism of some art prints we had never quite got around to throwing away. The symbolic link did not require the services of one of the notoriously sex-obsessed naval psychologists for interpretation. As she looked down at us in our off-duty moments the Princess represented youth, femininity, and a glamour beyond our gray steel world. She embodied the innocent vulnerability we were in extremis employed to defend. Also, being royal, she commanded the tribal loyalty our profession had valued above all else for more than a thousand years, since the days of King Alfred. In addition, as a matter of simple fact, this tasty-looking bird was our future Queen. Later, when that day in Loch Ewe felt like a relic from another lifetime, I often marveled at the Princess’s effect on military people. That unabashed loyalty symbolized by Arethusa’s portrait was typical of reactions in messhalls and barracks worldwide. Sometimes the men gave the impression that they would have died for her not because it was their duty, but because they wanted to. She really seemed worth it.

Protecting people from their bad habits—in fact, defining which habits should be considered “bad” in the first place—is a prerogative lawmakers have eagerly seized. Prostitution, gambling, liquor sales on the Sabbath, pornography, usurious loans, sexual relations outside of marriage (or, if your tastes are unusual, within marriage), are all habits that various legislatures have regulated, outlawed, or tried to discourage with strict (and often ineffective) laws. When

Already very challenging, the project became even more so in 2014, when Ukraine-related sanctions cut off Novatek’s access to Western finance. In order to survive, the $27 billion LNG project needed a new injection of money, and quickly. The Chinese came through with a $12 billion loan and also became partners in the project, along with the French supermajor Total, which had joined earlier. The Russians had historically been reluctant to allow large-scale Chinese ownership of upstream assets. But now there was no choice.

Page 10-11: Because of America's vigorous growth, and because the dollar plays a special role in the international economy, foreigners have been willing to finance the nation's imports and consumption. The bad news is that America's trade and investment deficits with the rest of the world (i.e., the amounts by which it is spending more than it is producing and borrowing more than it is lending) are growing so fast that they threaten to place the United States in the position of Thailand in 1997. That is to say, America's debts to the rest of the world may soon become large enough that its creditors could start wondering about the nation's ability to repay. Should foreigners lose faith in America's creditworthiness, they may start dumping dollars the way they dumped Thai baht. In that case, the American consumer would face significant belt-tightening to enable to country to start paying the debt down. Alternatively, the Federal Reserve could raise interest rates very high. This step would aim at persuading foreigners to keep up their lending by offering them higher rates of return on their loans, but it would also slow down the domestic economy by making the cost of money much more expensive for businesses and consumers. It would also add greatly to the total debt that would have to be repaid. ... A significant U.S. slowdown, therefore, would most likely leave the Japanese and Europeans (plus the Chinese and the rest of Asia and Latin America) with ever greater stockpiles of goods that no one could or would buy. These products would either languish on the shelf, or global price wars would break out, with each country trying to undercut the other in a frantic attempt to trim losses. Nations would either offer their goods for sale for much less than their production costs, or they would devalue their currencies, making them cheaper relative to other currencies. Thus their goods would automatically sell for less in foreign markets, and foreign goods would automatically become more expensive in their market.

The CEO did not acknowledge that the reason millennials might be interested in experiences—like the experience of renting things they could never own—was related to student loan debt, or the recession, or the plummeting market value of cultural products in an age of digital distribution. There were no crises in this vision of the future. There were only opportunities.

Those I call are very different from Orphans in that they’re absolutely convinced they’re some sort of social wit. Without a doubt they’re intelligent, and most likely very wealthy, although their wealth will come from a business they were set up in by others from their ‘school.’ They’ll have had no need to go to university. Rich people will have set them up in business, possibly Public Relations or something like that, they’ll have helped them write a business plan, loaned them money, and provided advice and guidance at every step of the way. As I say, money would have been forthcoming from investors until the business was able to run itself. And then Horace will swan about as if he did it all himself.

RETIREMENT PITFALL #5: Taking a Loan from Your 401(k) This is an enormous no-no at any time in your career, but it’s a particularly disastrous mistake if you’re within five years of your retirement. Money removed from your 401(k) is money that cannot grow (with compound interest!), even if you are able to pay it back relatively quickly. The lost time equals lost growth, which you cannot afford to waste. In addition, 401(k) loans are considered withdrawals—with the attendant 10 percent early-withdrawal penalty plus income taxes—if you lose or leave your job before paying it back. Add the fact that most 401(k) plans will not allow you to contribute money to the plan while you have an outstanding loan, and it’s clear that this kind of loan is going to be extremely costly for you. If you need a loan, it’s far better to explore taking a home equity loan or borrowing from your insufferable brother than taking money from your own future. Yes, the interest on 401(k) loans tends to be low, and you are paying that interest to yourself. But the potential costs and risks are far too high, especially for those who are in their final years of work.

successors was not the ransacking of popular imagination but the meticulous checks put in place that enabled one of the greatest empires in history to flourish for centuries to come. It was no coincidence, then, that Russian came to include a broad range of loan words, drawn directly from the vocabulary relating to Mongol administration—and particularly those to do with trade and communication: words for profit (barysh), money (dengi) and the treasury (kazna) all originated from contact with the new masters from the east. So too did the postal system in Russia, based on the Mongol method of delivering messages quickly and efficiently from one side of the empire to another through a network of relay stations.

The Ultimate Guide to Student Loans by Bruce Mesnekoff With the cost of college rising and governmental/private funding declining, it is no wonder that most Americans are concerned about their ability to finance a post-secondary education. Tuition prices are rising at Community Colleges, State Schools, Private and Technical colleges, leaving most Americans wondering how they are going to afford to pay for their education. This book educates parents, grandparents, young adults and students of all ages how to optimize the educational payment process. The Ultimate Guide To Student Loans is the collaboration of two financial experts who guide you through the confusing maze of investing for education and the student loan world from beginning to end. Jordan Goodman, America’s Money Answers Man, personal finance expert and frequent guest on radio and TV shows, and Bruce Mesnekoff, CEO of The Student Loan Help Center, student loan management and consolidation expert, share their knowledge and simplify the complicated process and maze of government and private rules and regulations about student loans. They also guide you through all of your investment choices to finance college education. This book helps you understand student loans by explaining: ways to invest so that you can avoid taking on student loans in the first place the optimum ways to get the best student loans paying off your loans as quickly as possible The book provides extensive information and resources to help you no matter where you are in the student loan financing process. These resources include contact information and descriptions for: federal regulatory organizations educational associations websites loan repayment programs The book also offers an appendix with abbreviations, acronyms and a glossary of student loan related terms. Also you can consult with The Student Loan Help Center for all kind of your consolidation problems. Use this book to improve your entire educational financing experience!

We were laughing but I know that we were afraid of those who loved us most. Our parents resorted to the lash the way flagellants in the plague years resorted to the scourge… The law did not protect us and now, in your time, the law has become an excuse for stopping and frisking you, which is to say for furthering the assault on your body. But a society that protects some people through a safety net of schools, government-backed home loans, and ancestral wealth but can only protect you with the club of criminal justice has either failed at enforcing its good intentions or has succeeded at something much darker. However you call it, the result was our infirmity before the criminal forces of the world.

I was not always a believer in reparations. I’d read TransAfrica founder Randall Robinson’s work on the subject in the late ’90s, which convinced me that the negative conditions of black people were tied to the fact of slavery and that recompense for that crime made sense in the broadest way. But like most people who agreed with the idea in principle, I thought it was a wildly impractical solution. Some years later I read Crabgrass Frontier, Kenneth Jackson’s history of the suburbs and the cities they ringed. I remembered the bracing section on how black families had been cut out of the FHA loan program and thus excluded from much of the suburban housing development in the postwar years. Jackson argued that there was a link between the impoverished cities where black people lived and the relatively affluent suburbs where they did not, and the link was neither mystical nor natural but was the knowable actions of our government. I knew that housing was a great source of the wealth for American families. So was the gap in wealth between black and white families tied to this government action?

We have included the routing numbers of all the banks as well as other information about the banks in our website. Along with the routing number of the bank, we have also provided other information related to the bank (transaction, deposit, withdrawal, chequebook, passbook, loan). This is free and a very useful website for all of you guys.

We have included the routing numbers of all the banks as well as other information about the banks in our website. Along with the routing number of the bank, we have also provided other information related to the bank (transaction, deposit, withdrawal, chequebook, passbook, loan). This is free and a very useful website for all of you guys.

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This may be the fundamental problem with caring a lot about what others think: It can put you on the established path—the my-isn’t-that-impressive path—and keep you there for a long time. Maybe it stops you from swerving, from ever even considering a swerve, because what you risk losing in terms of other people’s high regard can feel too costly. Maybe you spend three years in Massachusetts, studying constitutional law and discussing the relative merits of exclusionary vertical agreements in antitrust cases. For some, this might be truly interesting, but for you it is not. Maybe during those three years you make friends you’ll love and respect forever, people who seem genuinely called to the bloodless intricacies of the law, but you yourself are not called. Your passion stays low, yet under no circumstance will you underperform. You live, as you always have, by the code of effort/result, and with it you keep achieving until you think you know the answers to all the questions—including the most important one. Am I good enough? Yes, in fact I am. What happens next is that the rewards get real. You reach for the next rung of the ladder, and this time it’s a job with a salary in the Chicago offices of a high-end law firm called Sidley & Austin. You’re back where you started, in the city where you were born, only now you go to work on the forty-seventh floor in a downtown building with a wide plaza and a sculpture out front. You used to pass by it as a South Side kid riding the bus to high school, peering mutely out the window at the people who strode like titans to their jobs. Now you’re one of them. You’ve worked yourself out of that bus and across the plaza and onto an upward-moving elevator so silent it seems to glide. You’ve joined the tribe. At the age of twenty-five, you have an assistant. You make more money than your parents ever have. Your co-workers are polite, educated, and mostly white. You wear an Armani suit and sign up for a subscription wine service. You make monthly payments on your law school loans and go to step aerobics after work. Because you can, you buy yourself a Saab. Is there anything to question? It doesn’t seem that way. You’re a lawyer now. You’ve taken everything ever given to you—the love of your parents, the faith of your teachers, the music from Southside and Robbie, the meals from Aunt Sis, the vocabulary words drilled into you by Dandy—and converted it to this. You’ve climbed the mountain. And part of your job, aside from parsing abstract intellectual property issues for big corporations, is to help cultivate the next set of young lawyers being courted by the firm. A senior partner asks if you’ll mentor an incoming summer associate, and the answer is easy: Of course you will. You have yet to understand the altering force of a simple yes. You don’t know that when a memo arrives to confirm the assignment, some deep and unseen fault line in your life has begun to tremble, that some hold is already starting to slip. Next to your name is another name, that of some hotshot law student who’s busy climbing his own ladder. Like you, he’s black and from Harvard. Other than that, you know nothing—just the name, and it’s an odd one. Barack.

I recalled one example, when First Boston had loaned $450 million—40 percent of its equity capital—to just one firm, Ohio Mattress, in a disastrous deal Wall Street wits had christened “the burning bed.” Profits at First Boston were so pathetic that the firm had to sell a stake in its derivatives business just to pay bonuses. Meanwhile, it was rumored that Allen Wheat, the firm’s new chief executive officer, had received compensation of $30 million, although reports later indicated his compensation was a mere $9 million. The firm had been tagged Wheat First Securities, a reference to a small-time, relatively impoverished brokerage firm. It was no surprise that top salesmen were fleeing in droves. I, too, wanted out.

The researchers also identified which words or phrases best differentiated between repayers and defaulters. Repayers were more likely to use words and phrases related to their financial situation (e.g., “interest” and “tax”) or improvements in financial ability (e.g., “graduate” and “promote”). They also used words and phrases that indicated their financial literacy (e.g., “reinvest” and “minimum payment”) and were more likely to discuss topics such as employment and school, interest rate reductions, and monthly payments. Defaulters, on the other hand, used distinctly different language. They were more likely to mention words or phrases related to financial hardships (e.g., “payday loan” or “refinance”), for example, or hardship more generally (e.g., “stress” or “divorce”), as well as words and phrases that tried to explain their situation (e.g., “explain why”) or discuss their work state (e.g., “hard work” or “worker”). Similarly, they were more likely to plead for help (e.g., “need help” or “please help”) or touch on religion. In fact, while people who used the word “reinvest” were almost 5 times more likely to repay their loan in full, those who used the word “God” were almost 2 times more likely to default.

Bunch of Quotes … Legend: #/ = page number 12/ Money as Archetype. The key point is that money must have power over us inwardly in order to have power in the world. We must believe in its value before we will change our conduct based on whether or not we will receive it. In the broadest sense, money becomes a vehicle of relationship. It enables us to make choices and cooperate with one another, it singlas what we will do with our energy. 16/ The Latin word moneta derives from the Indo-European root men-, which means to use one’s mind or think. The goddess Moneta is modeled on the Greek goddess of memory, Mnemosyne. Contained in the power to remember is the ability to warn, so Moneta is also considered to be a goddess who can give warnings. To suggest money can affect us in different ways we might remember that the Greek words menos (which means spirit, courage, purpose) and mania (which means madness) come from the same root as memory and Moneta. Measurement, from the Indo-European root me-, also relates to mental abilities and is a crucial aspect of money. 95/ [Crawford relates the experience of a friend], a mother, whose only son suffered from drug addiction. … At last she overcame her motherly instincts and refused him a place to stay and food and money. [She gave him a resources list for dealing with addiction.] 98/ Even an addition, according to psychologist C.G. Jung, a form of spiritual craving. Jung expressed this viewpoint in correspondence with Bill Wilson (Bill W), the founder of Alcoholics Anonymous. 107/ The inner search is not a denial of our outer needs, but rather in part a way of learning the right attitudes and actions with which to deal with the outer world—including money and ownership. 114/ Maimonodes, Golden Ladder of Charity. [this list is from charitywatch.org] Maimonides, a 12th century Jewish scholar, invented the following ladder of giving. Each rung up represents a higher degree of virtue: 1. The lowest: Giving begrudgingly and making the recipient feel disgraced or embarrassed. 2. Giving cheerfully but giving too little. 3. Giving cheerfully and adequately but only after being asked. 4. Giving before being asked. 5. Giving when you do not know who is the individual benefiting, but the recipient knows your identity. 6. Giving when you know who is the individual benefiting, but the recipient does not know your identity. 7. Giving when neither the donor nor the recipient is aware of the other's identity. 8. The Highest: Giving money, a loan, your time or whatever else it takes to enable an individual to be self-reliant. 129/ Remember as this myth unfolds [Persephone] that we are speaking of inheritance in the larger sense. What we inherit is not merely money and only received at death, but it is everything, both good and bad, that we receive from our parents throughout our lifetime. When we examine such an inheritance, some of what we receive will be truly ours and worthwhile to keep. The rest we must learn to surrender if we are to get on with our own lives. 133/ As so happens, the child must deal with what the parent refuses to confront. 146/ Whether the parent is alive or dead, the child may believe some flaw in the parent has crippled and limited the child’s life. To become attached to this point of view is damaging, because the child fails to take responsibility for his or her own destiny.

. "But black people are racist too." Because of course we’re all prejudiced (I can’t even stand some of my blood relatives, grasping, selfish folks), but racism is about the power of a group and in America it’s white folks who have that power. How? Well, white folks don’t get treated like shit in upper-class African-American communities and white folks don’t get denied bank loans or mortgages precisely because they are white and black juries don’t give white criminals worse sentences than black criminals for the same crime and black police officers don’t stop white folk for driving while white and black companies don’t choose not to hire somebody because their name sounds white and black teachers don’t tell white kids that they’re not smart enough to be doctors and black politicians don’t try some tricks to reduce the voting power of white folks through gerrymandering and advertising agencies don’t say they can’t use white models to advertise glamorous products because they are not considered “aspirational” by the “mainstream.” So after this listing of don’ts, what’s the do? I’m not sure. Try listening, maybe. Hear what is being said. And remember that it’s not about you. American Blacks are not telling you that you are to blame. They are just telling you what is. If you don’t understand, ask questions. If you’re uncomfortable about asking questions, say you are uncomfortable about asking questions and then ask anyway. It’s easy to tell when a question is coming from a good place. Then listen some more. Sometimes people just want to feel heard. Here’s to possibilities of friendship and connection and understanding.

."But black people are racist too.” Because of course we’re all prejudiced (I can’t even stand some of my blood relatives, grasping, selfish folks), but racism is about the power of a group and in America it’s white folks who have that power. How? Well, white folks don’t get treated like shit in upper-class African-American communities and white folks don’t get denied bank loans or mortgages precisely because they are white and black juries don’t give white criminals worse sentences than black criminals for the same crime and black police officers don’t stop white folk for driving while white and black companies don’t choose not to hire somebody because their name sounds white and black teachers don’t tell white kids that they’re not smart enough to be doctors and black politicians don’t try some tricks to reduce the voting power of white folks through gerrymandering and advertising agencies don’t say they can’t use white models to advertise glamorous products because they are not considered “aspirational” by the “mainstream.” So after this listing of don’ts, what’s the do? I’m not sure. Try listening, maybe. Hear what is being said. And remember that it’s not about you. American Blacks are not telling you that you are to blame. They are just telling you what is. If you don’t understand, ask questions. If you’re uncomfortable about asking questions, say you are uncomfortable about asking questions and then ask anyway. It’s easy to tell when a question is coming from a good place. Then listen some more. Sometimes people just want to feel heard. Here’s to possibilities of friendship and connection and understanding.

Instead of hiding bodies in mass graves, corpses were triumphantly displayed, as when the Jalisco New Generation (while still part of El Chapo’s Sinaloa cartel) dumped the thirty-five bodies on an avenue in Veracruz in September 2011. In reply, the Zetas scattered twenty-six corpses in Jalisco and a dozen in Sinaloa. On closer inspection, the bodies were those of ordinary citizens, not criminals: they were workers and students who had been abducted and murdered and displayed in order to strike fear in the heart of anyone who doubted the murderous resolve of the Zetas... In To Die in Mexico: Dispatches from Inside the Drug War, John Gibler writes about a related series of bizarre and violent episodes that took place in Torreón, in Coahuila state, bordering Texas: “Who would believe, for example, that the warden of a state prison would let convicted killers out at night and loan them official vehicles, automatic assault rifles, and bulletproof vests, so that they could gun down scores of innocent people in a neighboring state and then quickly hop back over the state line and into prison, behind bars, a perfect alibi. Who would believe that a paramilitary drug-trafficking organization formed by ex−Special Forces of the Mexican Army would kidnap a local cop and torture him into confessing all of the above details about the prisoners’ death squad, videotape the confession, execute the cop on camera with a shot to the heart, and then post the video on YouTube? Who could fathom that the federal attorney general would, within hours of the video-taped confession and execution being posted online, arrest the warden, and then a few days later hold a press conference fully acknowledging that the prisoners’ death squad had operated for months, killing ten people in a bar in January 2010, eight people in a bar in May 2010, and seventeen people at a birthday party in July?” Yet all of this actually happened. During April 2012, when El Chapo was at war with the Zetas, fourteen torsos — armless and legless bodies — were found in a car by the side of the road in Nuevo Laredo. Dead Zetas. Some of the torsos were in the trunk, for which there is a specific narco term: encajuelado (“trunked”; therefore, trunks trunked). Soon after, in Michoacán state, the Zetas met their match in the person of Nazario Moreno (called El Más Loco, the Craziest One), leader of the ruthless Templarios, the Knights Templar cartel, whose recruits were required to eat human flesh—their victims’— as part of their initiation rites. When Moreno was gunned down by the Mexican army in 2014, the Zetas flourished, and remain dominant. But there was a posthumous bonus for the Craziest One: he was promoted to sainthood. In and around his birthplace in Apatzingán, shrines and altars were erected to Saint Nazario, the dead capo represented as a holy figure in robes, venerated by credulous Michoacanos.

Congress revisited drug policy in 1988. The resulting legislation was once again extraordinarily punitive, this time extending far beyond traditional criminal punishments and including new “civil penalties” for people convicted of drug crimes. The new Anti-Drug Abuse Act authorized public housing authorities to evict any tenant who allows any form of drug-related criminal activity to occur on or near public housing premises and eliminated many federal benefits, including student loans, for anyone convicted of a drug offense. The act also expanded use of the death penalty for serious drug-related offenses and imposed new mandatory minimums for drug offenses, including a five-year mandatory minimum for simple possession of cocaine base—with no evidence of intent to sell. Remarkably, the penalty would apply to people with no prior criminal convictions. The severity of this punishment was unprecedented in the federal system. Until 1988, one year of imprisonment had been the maximum for possession of any amount of any drug. Members of the Congressional Black Caucus (CBC) were mixed in their assessment of the new legislation—some believed the harsh penalties were necessary, others convinced that the laws were biased and harmful to African Americans. Ultimately the legislation passed by an overwhelming margin—346 to 11. Six of the negative votes came from the CBC.90 The

tell people not to be scared to put conditions on a financial gift. You could give them money only if they agree to go through Financial Peace University. You could give them a copy of this book or another one of my books, The Total Money Makeover, and “pay” them to write you a book report. You could require that they submit three monthly budgets to you as you continue to help them through a transitional time. If they accuse you of butting in, just remind them that they are ASKING you to butt in by giving them money. If they want your help, they need to take all of your help, not just your money. Third, I remind people that they can only help others if they have the cash on hand themselves. Never cosign a loan to “help” someone else, and never loan money to a friend or relative. That just keeps them in debt longer, strains the relationship, and keeps the cycle of destruction going.

Page 44: A Chinese immigrant arriving in Bangkok is assured of ready assistance from his dialect group, and this help is offered without question by people who speak his own language and know his needs. Through them, he is put in contact with relatives or persons from his own village in China. They see that he is housed and given work. Later the association stands always ready to give help when needed—to offer advice on sending remittances to China, to provide interpreters when dealing with officials, and to intercede when the immigrant runs afoul of the government’s red tape. Like the prototype institutions of China, the dialect association provides educational and medical facilities—more elaborate in fact than anything available in the rude villages of South China, and a continuing system of protective services in times of crisis or misfortune. In Thailand the individual Chinese who needs a loan, a job, or help of any kind will ordinarily appeal to his relatives first as he would in China. When these are unable to help, he can usually get assistance from his dialect association. While the type of problem brought to the attention of the dialect association may differ from problems faced in China, the fact remains that the association stands ready to help the individual Chinese in precisely the same manner and with the same spirit as he would expect from his clan group in China. Furthermore, just as everyone with the same surname and family origin was considered a member of the clan in China and therefore entitled to assistance from other members, so in Thailand all persons of a certain dialect groups are considered ipso facto members of the dialect association and thereby entitled to its full assistance.

Worry and its relatives, distrust, skepticism and risk aversion, are essential ingredients in a safe financial system. Worry keeps risky loans from being made, companies from taking on more debt than they can service, portfolios from becoming overly concentrated, and unproven schemes from turning into popular manias.

Private equity surrounds you. When you visit a doctor or pay a student loan, buy life insurance or rent an apartment, pump gas or fill a prescription, you may—wittingly or not—be supporting a private equity firm. These firms, with obscure names like Blackstone, Carlyle, and KKR, are actually some of the largest employers in America and hold assets that rival those of small countries. Yet few people understand what these firms are or how they work. This is unfortunate because private equity firms, which buy and sell so many businesses you know, explain innumerable modern economic mysteries. They explain, in part, why your doctor’s bill is so expensive and why your veterinary clinic seems to be in decline. They explain why so many stores are understaffed or closing altogether. They explain why there are ever fewer companies in America and why those that remain are selling ever lower-quality products. In fact, despite their relative anonymity, private equity firms are poised to reshape America in this decade the way in which Big Tech did in the last decade and in which subprime lenders did in the decade before that. And as we will explore, they’re all doing it with the government’s help.

In the repo market, lenders were demanding more collateral for their loans, even when the collateral was of relatively high quality.

Before we left Czernovitz, Father took a loan of one hundred dollars from a woman, with the proviso that, if we survived and got in touch with the relatives in the U.S., we would return her double. Agreed. We returned it to her in the Bronx, in 1947. In Dorohoi, we exchanged some dollars on the black market, bought some food and starting thinking what to do next. We found a "furnished" room for the parents, in Dorohoi. I intended to go to Bucharest and try to get in touch with the family.

One of their most famous coups was underwriting a $10 million loan for a growing mail-order house called Sears, Roebuck, headed by Goldman's distant relative. It was the first time a mail-order security had ever been on the market-a calculated risk, but one that paid off.

The missionaries did not come to Foochow to acquire property, learn the language, or even to establish amicable relations with their Chinese neighbors. Nor, although Welton, White, and Wiley practiced medicine, was the relief of suffering itself their goal. Even though the missionaries established schools in the 1850s it cannot be said that they had come to promote education. Nor, although they loaned books and showed gadgets to curious officials, was their aim the promotion of intercultural understanding. Their objective in coming to the mission field was amazingly simple and straightforward. It was to make converts to Christianity.

There has been much talk about the alleged exploitation of the debtor nations by the creditor nations. But if the concept of exploitation is to be applied to these relations, it is rather an exploitation of the investing by the receiving nations. These loans and investments were not intended as gifts. The loans were made upon solemn stipulation of payment of principal and interest. The investments were made in the expectation that property rights would be respected. With the exception of the bulk of the investments made in the United States, in some of the British dominions, and in some smaller countries, these expectations have been disappointed. Bonds have been defaulted or will be in the next few years. Direct investments have been confiscated or soon will be. The capital-exporting countries can do nothing but wipe off their balances.

Nothing but total capitulation by the Sandinistas would suffice for Reagan. Thus, as the ICJ related, revolutionary leader and then Nicaraguan president Daniel Ortega made it clear that he would give in to all of Reagan’s stated demands (i.e., that he would send home the Cuban and Russians advisers and not support the FMLN guerillas in El Salvador) in return for only “one thing: that they don’t attack us, that the United States stop arming and financing … the gangs that kill our people, burn our crops and force us to divert enormous human and economic resources into war when we desperately need them for development.”10 But Reagan would not relent until the Sandinistas and Ortega were out of power altogether. Ultimately, Reagan’s terror campaign would work, with the Nicaraguan people finally crying uncle in 1990, and voting the Sandinistas out of power. The Sandinistas would be voted back in, however, in 2007, and they remain the governing party to this day, with Daniel Ortega as president. Meanwhile, the United States continues to punish Nicaragua, the most stable and prosperous country in Central America after successfully breaking off from US domination, for its impertinence in overthrowing the Somoza dictatorship, having the audacity to survive the Contra War which claimed fifty thousand lives, voting back in the Sandinistas, and for now working with the Chinese to build the canal that the United States has coveted for so long. Thus, as I write these lines, the US Senate is considering passage of the “Nica Act,” already passed by the House, which would cut Nicaragua off from multilateral loans (e.g., from the World Bank, IMF). This, apparently, will show Nicaragua and other countries what they get for deciding to go their own way.

There can be no doubt that this possessive clinging to things is one of the most harmful habits in the life. Because it is so natural it is rarely recognized for the evil that it is; but its outworkings are tragic. We are often hindered from giving up our treasures to the Lord out of fear for their safety; this is especially true when those treasures are loved relatives and friends. But we need have no such fears. Our Lord came not to destroy but to save. Everything is safe which we commit to Him, and nothing is really safe which is not so committed. Our gifts and talents should also be turned over to Him. They should be recognized for what they are, God's loan to us, and should never be considered in any sense our own. We have no more right to claim credit for special abilities than for blue eyes or strong muscles. "For who maketh thee to differ from another? and what hast thou that thou didst not receive?" The Christian who is alive enough to know himself even slightly will recognize the symptoms of this possession malady, and will grieve to find them in his own heart. If the longing after God is strong enough within him he will want to do something about the matter. Now, what should he do?

In 1960, the United States and the Soviet Union were locked into an idealistically-driven Cold War, pitting the Capitalistic West against the Communistic East. Cuba, unable to be self-sufficient, had to pick a side. With the United States putting economic pressure onto the relatively small country, Castro did the only thing his pride would allow. Voicing disdain for his neighbor to the north, Castro proclaimed that his ideological views paralleled those of the USSR. Meeting with the Soviet Premier Anastas Mikoyan, Castro agreed to provide the USSR with food and sugar, in return for a monetary infusion amounting to a $100 million loan, as well as industrial goods, crude oil and fertilizers. Castro’s first public admission that his revolution was socialistic was during his speech honoring the people killed in the air strikes of April 15, 1961, during the Bay of Pigs operation. The Cuban government then took over all the banks, except two Canadian ones.