If your clearance procedures are at all similar to our procedures in the UK,
then probably none of them are eligible. We have to know who our fathers and
grandfathers were for Security Clearance :-)
As a federal silly servant, my security clearance had to be reviewed
every five years, or, before any promotion. My last promotion came 2
years into the cycle so it was no problem to copy the photocopied data
from the previous data sheet to the new. Come time for my new salary
rate to show up on my pay stub, it didn't show up. On investigation,
the answer was that I had not as yet submitted the data sheet for the
required security check to which my answer was to show my suitably
annotated photocopy of the required document. Within a week, I
received a check for the difference in pay and a signed apology from
the regional manager of the verification agency (filed downstairs in
my personnel file, along with enough documentation to somewhat
embarrass quite a few members of middle management)
One of these days, I should clean out a couple drawers of my
file cabinet as this information is at least 15 years old.
I wouldn't say I know Barry well but I know him and he has a shop as a hobby
He also has one of my software products and his training - and mine -
included more than one weekend of work by day and eat well, drink hearty (
Sutter Home Reserve Merlot ), while solving the worlds problems after dark.
That's actually a pretty good idea. A deposit is a liability which a
bank has to offset with an asset (a loan) on its books. Handing them
piles of capital gives them no incentive to do anything.
One can make an assumption that, if they are not making loans, something
is amiss. Open the books and show us what or we'll assume its
insolvency and take them over.
Trouble is (like you stated) some people don't deserve loans. Nobody in
their right minds is going to underwrite residential construction in
regions where there's a surplus due to past speculative building.
We missed the boat with the last handout in not getting a seat on the
BoD (even a non-voting one) in every bank we (the gov't) invested in. In
some cases, we (the taxpayers) are the largest single owners of these
banks. And we can't even peek in the books.
If you can't show me the money, at least show me the note....
An additional problem with existing residential montages of all
grades, both stand alone and bundled into CDOs, has just surfaced
in a big way.
Basically the mortgage holder or loan servicing company cannot
produce a valid mortgage contract and/or TILA [truth in lending
act] documentation when they attempt to foreclose, with the
result the cases are thrown out of court.
It is becoming increasing apparent that there is literally
*NOTHING* behind large numbers of residential, and quite likely
commercial mortgages and mortgage backed securities, and very
likely much of the vehicle, credit card and student loan debt,
thus this debt/CDOs are grossly overvalued, even at 15 cents on
Homeowners' rallying cry: Produce the note
By MITCH STACY, Associated Press Writer Mitch Stacy, Associated
Press Writer ? Tue Feb 17, 3:54 pm ET
ZEPHYRHILLS, Fla. ? Kathy Lovelace lost her job and was about to
lose her house, too. But then she made a seemingly simple request
of the bank: Show me the original mortgage paperwork.
And just like that, the foreclosure proceedings came to a
Lovelace and other homeowners around the country are managing to
stave off foreclosure by employing a strategy that goes to the
heart of the whole nationwide mess.
During the real estate frenzy of the past decade, mortgages were
sold and resold, bundled into securities and peddled to
investors. In many cases, the original note signed by the
homeowner was lost, stored away in a distant warehouse or
Persuading a judge to compel production of hard-to-find or
nonexistent documents can, at the very least, delay foreclosure,
buying the homeowner some time and turning up the pressure on the
lender to renegotiate the mortgage.
And these were the financial "masters of the universe."
Unka' George [George McDuffee]
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).