Southerners should mind their own words, there is and will never be a so-called greater Somalia unless you are being fooled or brainwashed and be careful on wasting your time on false and never practical dreams. And for my beloved Somalilanders, resilience and patience are the key attributes to these dark times and hardwork and optimism will pave the way for our unquestioned goal which is RECOGNITION.
Tuesday, 21 August 2012
BREAKING NEWS: Janet Jackson CONVERTED TO ISLAM . . . In Preparation For Her $20M Wedding!!
Southerners should mind their own words, there is and will never be a so-called greater Somalia unless you are being fooled or brainwashed and be careful on wasting your time on false and never practical dreams. And for my beloved Somalilanders, resilience and patience are the key attributes to these dark times and hardwork and optimism will pave the way for our unquestioned goal which is RECOGNITION.
Wednesday, 1 August 2012
Regulator says no to Obama mortgage write-down plan
WASHINGTON (Reuters) - The top housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to show voters it can help fix the housing market.
The regulator for government-run housing finance giants Fannie Mae and Freddie Mac
said on Tuesday that using taxpayer-funded bank bailout money could
encourage defaults and not make a big improvement in reducing
foreclosures in a cost-effective way for taxpayers.
"The anticipated benefits do not outweigh the costs and risks," said the Federal Housing Finance Agency's head Edward DeMarco, who has come under intense pressure from the government to agree to the plan.
The regulator's decision drew an immediate rebuke from the Obama administration and Democratic lawmakers. Treasury Secretary Timothy Geithner disputed the agency's conclusions and urged DeMarco to reconsider his decision.
The housing market
started deteriorating in 2006 and wiped out trillions of dollars in
equity. Although the market has shown signs of recovery, about 11
million homeowners
owe more than their properties are worth and the Obama administration
has struggled with various taxpayer-funded programs to keep people in
their homes.
"I do not believe
it is the best decision for the country," Geithner told DeMarco in a
letter released to the media.
The use of targeted
principal reduction would "provide much needed help to a significant
number of troubled homeowners, help repair the nation's housing market
and result in a net benefit to taxpayers," Geithner said.
Despite several
plans to tackle the country's housing problems, most of which is focused
on giving homeowners the opportunity to refinance at lower interest
rates, the administration has yet to come up with a plan to stabilize the market.
Obama, a Democrat,
is trying to convince voters ahead of the November presidential election
that his policies have helped the economy recover from dire days of the
financial crisis and ensuing recession. His Republican challenger, Mitt
Romney, has said the foreclosure process should be allowed to run its
course and hit the bottom.
United flight temporarily diverted because of camera
(Reuters) - A "suspicious item," which turned out to be a camera, caused a United Airlines flight bound for Geneva, Switzerland, to be temporarily diverted to Boston on Tuesday night, according to officials.
Flight 956 from Newark, New Jersey, landed safely at Logan International Airport in Boston at about 9:10 p.m. so authorities could investigate a "suspicious item," Massachusetts Port Authority spokesman Richard Walsh said.
Passengers were taken off the plane and state police scanned the aircraft, Walsh said.
The troublesome item turned out to be a camera, which was x-rayed and cleared, Massachusetts State Police Trooper Thomas Murphy said. Passengers reboarded the plane, which took off again for Switzerland at approximately 10:30 p.m., Murphy said.
A spokesperson for United Airlines was not immediately available for comment.
(Reporting By Mary Wisniewski; Editing by Greg McCune and Stacey Joyce)
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