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dixiegrrrrl

Profile Information

Gender: Female
Hometown: Seattle, for half my life
Home country: USA
Current location: Sw corner of Ala. for the rest of my life
Member since: Wed Feb 27, 2008, 01:09 PM
Number of posts: 36,624

About Me

Being the "Queen of Everything" (Mr. dixie is the Prince of What's Left) but................ Golden Retrievers RULE!!!

Journal Archives

Banks giving up mortgage securitization...a victory for regulators, it seems.

I found this am news that BOA, Citibank, and mortgage servicers Green Tree and Nationstar are "exiting" the wholesale-mortgage business, as are a bunch of other companies.
A wholesale-mortgage business sells home loans in large quantities through outside brokers.
The brokers turn them into securities, bonds and sell them to investors.
And it turned out those bonds included a LOT of worthless sub prime loans.

The trend of exiting the wholesale-mortgage business is being driven by lack of consumer demand, banks' decision to tighten lending standards and recent regulatory changes....
snip
"Securitizations are all but dead right now, and this business has been totally tainted by the residential mortgage crisis of late," Plath said.


http://www.journalnow.com/business/article_3e55a67e-03f6-583a-87f3-281ac4c38cd7.html

if you search for this phrase...exits wholesale mortgage business
a long list of banks and other firms will come up.

Maybe regulation is working, eh?

AT&T wants to charge more for different types of internet use.

".... what if a service provider started to dictate what types of data could be accessed each month on a particular package?
What if emails and web browsing were acceptable kinds of traffic but others, such as video downloading and file-sharing, resulted in subscribers being subjected to penalties? A new system developed at telecoms giant AT&T appears to envision just that kind of scenario.

The system is revealed in a patent filed by AT&T Mobility in September 2013 and published this month. Its stated aim is to stop customers from “abusing a telecommunications system” by consuming too much bandwidth."

Snip

“The user is provided an initial number of credits. As the user consumes the credits, the data being downloaded is checked to determine if it is permissible or non-permissible. Non-permissible data includes file-sharing files and movie downloads if user subscription does not permit such activity,” the patent application reads.

“If the data is permissible, the user is provided another allotment of credits equal to the initial allotment. If the data is non-permissible, the user is provided an allotment of credits less than the initial allotment,” it continues.
Various restriction policies also can be applied, such as levying additional fees and/or terminating the user’s access to the channel.
Also, incentives can be provided to entice the user curb the misuse,”

http://torrentfreak.com/att-develops-credits-system-to-limit-file-sharing-bandwidth-140129/

So, streaming from Hulu, Netflix or Amazon..even Youtube.....will cost more? Is that what I am reading?
AT&T seems to be saying "consuming too much bandwidth." is a bad thing, but apparently it is ok as long as you pay extra for it.

Breaking:Senate Republicans block Democrats' new bid to restore unemployment benefits

Just in on the breaking News site:

US Senate Republicans block Democrats' new bid to restore unemployment benefits for 1.7 million Americans - Reuters

Bank of America sets sights on new victims: small businesses.

Remember that BOA was in the thick of the mortgage fraud biz, when it turned home loans into bonds, sold them off, and later got caught when those bonds were found to be mostly worthless?

Now, this:
Bank of America (BAC) will hire more than 200 small-business bankers this year, expanding that lending team by at least 20% for a third year in a row.

During 2013, it extended $10.9 billion in credit to small businesses, up 26% from 2012, and said it plans to continue expanding its small-business unit, the lender said in a statement.

BofA and other banks are switching from mortgage loans toward business loans as the housing recovery matures.

On Monday, the Federal Reserve released a survey of loan officers finding that U.S. banks loosened credit standards late last year, making it easier for small businesses to get loans.
http://news.investors.com/business/020414-688770-bank-of-america-hires-200-more-small-business-bankers.htm

we've seen this movie before.

It was loose credit standards that allowed banks to make dodgy loans which led to mass defautls when the housing bubble popped.



I think I want to thank Omaha Steve for this????

sometime ago someone posted the link to a 4 part Youtube on Labor history.
I consider myself pretty well versed in the major labor issues, but thihs series was an eyeopener..
names like Ludlow Massacre and Matawan were put into context ( I had not known that Ludlow was in the Colorado mine fields)
Highly recommend this interesting 4 part series.




Pres. Obama defends Dir. of National Intelligence who lied to Congress.

President Barack Obama has said his director of national intelligence, James Clapper, ought to have been “more careful” in Senate testimony about surveillance that Clapper later acknowledged was untruthful following disclosures by Edward Snowden.

But Obama signaled continued confidence in Clapper in the face of calls for the director to resign from members of Congress who warn of the dangerous precedent set by allowing an intelligence chief to lie to legislative bodies tasked with overseeing the powerful spy agencies.
Clapper has apologized to the Senate intelligence committee for testifying in March 2013 that the US government does “not wittingly” collect data on millions of Americans.
http://www.theguardian.com/world/2014/jan/31/obama-admits-intelligence-chief-fault-senate-testimony


when Snowden proved he was lying to Congress, he defended his testimony thusly:

first , he said he gave the “least untruthful” answer he could in an unclassified setting.
Later he changed his story to say that he had forgotten about an authority claimed by the government under the Patriot Act to collect the records of every phone call sent and received in the US.


Hooray for Senator Ron Wyden who challenging the dishonest answers.

Amazon Prime customers could see $20 to $40 price hike, retailer says - @TechCrunch

How are they going to manage what is essentially a 2 tiered membership fee?

Anyone here willing to get or keep Prime after the price hike??

Edward Snowden nominated for Nobel peace prize

Two Norwegian politicians say they have jointly nominated the former National Security Agency contractor Edward Snowden for the 2014 Nobel peace prize.

The Socialist Left party politicians Baard Vegar Solhjell, a former environment minister, and Snorre Valen said the public debate and policy changes in the wake of Snowden's whistleblowing had "contributed to a more stable and peaceful world order".
http://www.theguardian.com/world/2014/jan/29/edward-snowden-nominated-nobel-peace-prize

U.S. border officials ground fleet of drones after crash at sea

Reuters) - U.S. Customs and Border Protection has indefinitely grounded its remaining fleet of nine drones after operators were forced to crash a pilotless aircraft off the Southern California coast because of a mechanical problem, a spokesman said on Tuesday.

The mishap on Monday marked the second crash of one of the agency's drones since it began using the unnamed aerial surveillance technology in 2006.

"While on patrol off the Southern California coast, the unmanned aircraft, a maritime variant of the Predator B, experienced a mechanical failure," U.S. Customs and Border Protection spokesman Michael Friel said in a statement./div]http://www.reuters.com/article/2014/01/29/us-usa-drone-crash-idUSBREA0S01220140129?feedType=RSS&feedName=domesticNews

What snow does to Southern drivers:

Birmingham Al. today.
the headline says:
Photo: Drivers abandon cars across highways in Alabama amid winter storm -



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