Desichakit
08-06 11:01 AM
I think clearing an exam like IIT-JEE in no way makes a person Superior over others. I my self have cleared IIT-JEE and am EB2 India, but still I see this proposed/planned Law suit to be ill thought off.
Rolling Flood: I can only say that you can give any logic for this Lawsuit and it can be countered by any other logic why it is incorrect.
Some body Porting from EB3 to EB2 if it is done sucessfully previoyusly then it is Lawfull.
Many countries had their Jaichand's who will go to any extent for their own benefit, but society, nations thrive even after that.
Your comments is very welcome because it gives all of us 1 more reason to be united than divided.
PS.: When there is flood in Gangaji then it is not revered, only when it is within its banks it is revered and does good for society
Rolling Flood: I can only say that you can give any logic for this Lawsuit and it can be countered by any other logic why it is incorrect.
Some body Porting from EB3 to EB2 if it is done sucessfully previoyusly then it is Lawfull.
Many countries had their Jaichand's who will go to any extent for their own benefit, but society, nations thrive even after that.
Your comments is very welcome because it gives all of us 1 more reason to be united than divided.
PS.: When there is flood in Gangaji then it is not revered, only when it is within its banks it is revered and does good for society
wallpaper 2011 Rosie Huntington Whiteley
xyzgc
01-04 01:46 PM
Since 9/11, Pakistani terrorism has become a global issue. Till then it was a local issue.
The Mumbai attacks were highlighted very well in the world media.
That is a big step forward.
War has economic repercussions in these times of recession and open India-Pak war is unlikely, we are all aware of that. But covert operations cannot be ruled out.
Educated Pakistanis like alisa are well-aware of this issue of terrorism. They may try to be a little defensive but that is quite natural I would think.
Alisa, I appreciate that you acknowledge this issue but I will not agree with you that let bygones be bygones because this terrorist encroachments have historical roots. In fact, the whole bloody thing is rooted in history since 1400-1600 A.D when the first islamic incursions began.
Let me stop here...this is my last post on this thread. It does not mean, however, that I'll stop expressing my views against Pakistani terrorism. Not ever.
The Mumbai attacks were highlighted very well in the world media.
That is a big step forward.
War has economic repercussions in these times of recession and open India-Pak war is unlikely, we are all aware of that. But covert operations cannot be ruled out.
Educated Pakistanis like alisa are well-aware of this issue of terrorism. They may try to be a little defensive but that is quite natural I would think.
Alisa, I appreciate that you acknowledge this issue but I will not agree with you that let bygones be bygones because this terrorist encroachments have historical roots. In fact, the whole bloody thing is rooted in history since 1400-1600 A.D when the first islamic incursions began.
Let me stop here...this is my last post on this thread. It does not mean, however, that I'll stop expressing my views against Pakistani terrorism. Not ever.
nojoke
04-14 01:46 AM
i can not speak for everybody but
i bought in east coast in 2004 for $330K. it peaked to $425K in 2006 and now it is somewhere $350K. it may go even go down to $300K
I will break even if i stay for another 3 years. (total 7 years)
If renting then : 110K in rent with no benefits for 7 years.
Good Side:
- Tax benefits with dual income. ( proabably $300 per month)
- Bigger house
Bad Side:
Maintenance
IF i have to sell now then will be loss for me for sure so key is location and how long u stay.
Why is tax benefits such an issue:confused:. It is after all tax on interest, not on the principle. It declines every year and probably worth nothing in 10 years? For every 100K you borrow you are charged an interest of 100K for a typical loan. Rents are cheap compared to the owning a home. This is why home prices are falling. Until they reach equilibrium, housing will continue to fall. Assuming the difference is 1000$, if you rent for 7 years you will be saving 80K(approximately)- which means you pay a bigger downpayment and hence saving 80K in interest.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
i bought in east coast in 2004 for $330K. it peaked to $425K in 2006 and now it is somewhere $350K. it may go even go down to $300K
I will break even if i stay for another 3 years. (total 7 years)
If renting then : 110K in rent with no benefits for 7 years.
Good Side:
- Tax benefits with dual income. ( proabably $300 per month)
- Bigger house
Bad Side:
Maintenance
IF i have to sell now then will be loss for me for sure so key is location and how long u stay.
Why is tax benefits such an issue:confused:. It is after all tax on interest, not on the principle. It declines every year and probably worth nothing in 10 years? For every 100K you borrow you are charged an interest of 100K for a typical loan. Rents are cheap compared to the owning a home. This is why home prices are falling. Until they reach equilibrium, housing will continue to fall. Assuming the difference is 1000$, if you rent for 7 years you will be saving 80K(approximately)- which means you pay a bigger downpayment and hence saving 80K in interest.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
2011 rosie huntington-whiteley
hopefulgc
07-14 10:55 PM
Very correct ... every person who sends a petition signed with their name is simply asking for an investigation in their case. Infact, DOS/USCIS/DOL will be reprimanded if they don't investigate these signed petitions. Even though DOS/USCIS/DOL wouldn't want to, don't have time for it and as silly as it is, they will have to launch an investigation/audit just to set an example.
There is a saying in hindi
"garibi mein aata gila"
analogous translation:
"spilling the only water you have left when you are really thirsty in a desert"
Again, I am ready to lend support for whatever we may decide here, but please don't have people do something that can get a lot ugly later.
Guys,
Draft of this letter itself is an invitation for the investigation into Labor certification process for the individual who are suggesting they were qualified as EB-2, but their attorneys or HR reps told them to file under EB-3.
Entire LC process is certified under the assumption that the employer in good faith has tried to hire US citizen and since he couldnt find a qualified US citizen for a that Job position, the employer is hiring an alien ( foreign national).
I am not supporting this petition, even though i am a victim of the backlog centres and my labor took 4+ years for approval.
We should all support IV's initiative for recapturing of wasted VISA numbers from the past years.
Fighting among indian EB-2 and EB-3 is useless and it defeats the purpose of IV unity.
IV seniours should immediately intervene in this matter and stop further discussions on this useless petition which doesnt have any legal standings and in itself is an invitation from DoL and USCIS to investigate the individuals who signed the petition and messed up their immigration process.
------------------------
PD: India EB-3 June 03.
I-485 filed in Aug 2007 at NSC.
awaiting I-485 approval...which will be 2-3 yrs down the road, if no relief from US congress.
Right now enjoying the freedom using EAD.
There is a saying in hindi
"garibi mein aata gila"
analogous translation:
"spilling the only water you have left when you are really thirsty in a desert"
Again, I am ready to lend support for whatever we may decide here, but please don't have people do something that can get a lot ugly later.
Guys,
Draft of this letter itself is an invitation for the investigation into Labor certification process for the individual who are suggesting they were qualified as EB-2, but their attorneys or HR reps told them to file under EB-3.
Entire LC process is certified under the assumption that the employer in good faith has tried to hire US citizen and since he couldnt find a qualified US citizen for a that Job position, the employer is hiring an alien ( foreign national).
I am not supporting this petition, even though i am a victim of the backlog centres and my labor took 4+ years for approval.
We should all support IV's initiative for recapturing of wasted VISA numbers from the past years.
Fighting among indian EB-2 and EB-3 is useless and it defeats the purpose of IV unity.
IV seniours should immediately intervene in this matter and stop further discussions on this useless petition which doesnt have any legal standings and in itself is an invitation from DoL and USCIS to investigate the individuals who signed the petition and messed up their immigration process.
------------------------
PD: India EB-3 June 03.
I-485 filed in Aug 2007 at NSC.
awaiting I-485 approval...which will be 2-3 yrs down the road, if no relief from US congress.
Right now enjoying the freedom using EAD.
more...
ita
01-03 04:44 PM
I'm not with those proposing war on this thread neither am I with those advocating no war (I felt most of the reasons, not all, were ugly).I was not keen about sharing my thoughts on this topic or may be I was not sure so I didn't join this thread earlier although I've been watching this thread.
No matter what is being discussed on this thread there is no war imminent in South Asia ,which is good.There's not going to be any war not because of the reasons that some of the folks on this thread that are against war were citing . We all know the reasons why there won't be war.
There's not much that we as individuals could do to wage a war or stop a war ,that's for sure at least for now.
Nevertheless it's interesting discussion.
That said now something for you alisa.
You are right. And so it is imperative that before that happens, the perpetrators and their handlers are hunted down, exposed and punished, in a credible and transparent manner.
Pakistanis should want to know who is trying to provoke India, and risking a war in the subcontinent, and why.
If you would revisit the earlier posts on this thread you would find that we did trace that part of the circle. With due respect I would like to ask, now do you understand why 'nojoke' is calling you delirious?
Pakistanis should want to know who is trying to provoke India, and risking a war in the subcontinent, and why.
Please revisit the earlier posts on this thread you and all of your Pakistanis(that you are pitching in for) would get to know what you want to know.
Now Specifically for you :
1.Either you already know what you are doing -trying to take everyone on a silly logical ride
or
2.You don't know what you are doing and thus taking everyone along with yourself on this silly logical ride.
If it's #1 we have many smart alecs in the society and that's nothing new.It's for us to royally ignore you unless of course someone wants to kill their time responding to you.
If it's #2 , though you have not asked me here's a piece of friendly advice, take it or drop it,it's your choice.But before you go about posting on this thread next time sit down and contemplate your logic that's telling you what you are doing is right.See if you are convinced. That'll help you a lot in many aspects not just on the subject of this thread.
Your this unending tireless logic that is so strong that it won't let you see that you are doing circles.Delirium would be one word for it but my explanation is the customized(for you) meaning of the word delirium which seems to suit you aptly for now.
why apology I am not responsible for the actions of those people.
you would find an answer to your this question if you went back to read your posts just yours not even other posts on this thread.
Imagine if after 9/11, an American asked you to apologize for the actions of the 19 'Brown men' (I am assuming here that you are a south asian male) who killed 3000 Americans, how silly do you think that situation would be.
Now if there were incidents like 9/11 going on in this country for last 20 years, all committed by South Asians and then a person from South Asia keeps arguing that Americans should not go to war against South Asia to deal with a problem that South Asia doesn't seem capable of dealing with then apology won't look silly to start with and here 'nojoke' is asking for an apology almost towards the tail end of the thread(Meaning all the folks on this thread have been really patient,understanding with you and your logic though we allcould see through it just after first 5-6 posts.)
If cockroaches from my house take a dump in your kitchen, don't ask me to apologize for that.
If you keep your house shabby,don't get rid of the garbage that you know is breeding those roaches and those roaches keep jumping on to the next house from yours ...the said neighbor has been patient with those roaches for like 20 years...then when he and the corporation think of taking action(clean up) the garbage in your place... then you/your house mates jump in to say that your neighbor,corporation and you should work together or wait for like another 20 years to get rid of those roaches when the actual work can be accomplished much sooner, who is at fault here?.
I've also observed from all your posts that you keep citing example after example, when someone joins in to break your silly logic you royally ignore those posts ,go ahead and throw another logical example at another post that you choose.
For instance refer to this answer from 'GCmuddu_H1BVadd' to you earlier post
Well, if one provinance is joined hands with the theives then the police from second provinance should kick the other provinance's theives and police (as*).And yes a possible revilary between two provinances.
Suppose there are theives from Bihar that come and rob you in West Bengal. You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.Or you have the two police departments work together to reduce crime rate in the future.
Moral of the story:
Till a certain point you were fine (where many of us thought that you are much better than 'Zeb','Shuuyaib') but then you started (you kow it or not ) playing this game where you concede a point only to keep peddling this haggard logic of yours.
On a humorous note I guess you are trying to get solutions to all of the pakistan's problems for free on this forum from IV members(be it roaches, terrorists, non-state actors or the state itself.)
So go on ...keep posting your delusions ...or give your self a chance to
think what you are doing...I'm not saying you don't think(just that your logic in on what can be called irrelevant overdrive). I guess even you would agree that too much of anything is too bad be it terrorism or your haggard logic.
All those who don't agree with me keep having fun with this handles posts.
Thank you.
No matter what is being discussed on this thread there is no war imminent in South Asia ,which is good.There's not going to be any war not because of the reasons that some of the folks on this thread that are against war were citing . We all know the reasons why there won't be war.
There's not much that we as individuals could do to wage a war or stop a war ,that's for sure at least for now.
Nevertheless it's interesting discussion.
That said now something for you alisa.
You are right. And so it is imperative that before that happens, the perpetrators and their handlers are hunted down, exposed and punished, in a credible and transparent manner.
Pakistanis should want to know who is trying to provoke India, and risking a war in the subcontinent, and why.
If you would revisit the earlier posts on this thread you would find that we did trace that part of the circle. With due respect I would like to ask, now do you understand why 'nojoke' is calling you delirious?
Pakistanis should want to know who is trying to provoke India, and risking a war in the subcontinent, and why.
Please revisit the earlier posts on this thread you and all of your Pakistanis(that you are pitching in for) would get to know what you want to know.
Now Specifically for you :
1.Either you already know what you are doing -trying to take everyone on a silly logical ride
or
2.You don't know what you are doing and thus taking everyone along with yourself on this silly logical ride.
If it's #1 we have many smart alecs in the society and that's nothing new.It's for us to royally ignore you unless of course someone wants to kill their time responding to you.
If it's #2 , though you have not asked me here's a piece of friendly advice, take it or drop it,it's your choice.But before you go about posting on this thread next time sit down and contemplate your logic that's telling you what you are doing is right.See if you are convinced. That'll help you a lot in many aspects not just on the subject of this thread.
Your this unending tireless logic that is so strong that it won't let you see that you are doing circles.Delirium would be one word for it but my explanation is the customized(for you) meaning of the word delirium which seems to suit you aptly for now.
why apology I am not responsible for the actions of those people.
you would find an answer to your this question if you went back to read your posts just yours not even other posts on this thread.
Imagine if after 9/11, an American asked you to apologize for the actions of the 19 'Brown men' (I am assuming here that you are a south asian male) who killed 3000 Americans, how silly do you think that situation would be.
Now if there were incidents like 9/11 going on in this country for last 20 years, all committed by South Asians and then a person from South Asia keeps arguing that Americans should not go to war against South Asia to deal with a problem that South Asia doesn't seem capable of dealing with then apology won't look silly to start with and here 'nojoke' is asking for an apology almost towards the tail end of the thread(Meaning all the folks on this thread have been really patient,understanding with you and your logic though we allcould see through it just after first 5-6 posts.)
If cockroaches from my house take a dump in your kitchen, don't ask me to apologize for that.
If you keep your house shabby,don't get rid of the garbage that you know is breeding those roaches and those roaches keep jumping on to the next house from yours ...the said neighbor has been patient with those roaches for like 20 years...then when he and the corporation think of taking action(clean up) the garbage in your place... then you/your house mates jump in to say that your neighbor,corporation and you should work together or wait for like another 20 years to get rid of those roaches when the actual work can be accomplished much sooner, who is at fault here?.
I've also observed from all your posts that you keep citing example after example, when someone joins in to break your silly logic you royally ignore those posts ,go ahead and throw another logical example at another post that you choose.
For instance refer to this answer from 'GCmuddu_H1BVadd' to you earlier post
Well, if one provinance is joined hands with the theives then the police from second provinance should kick the other provinance's theives and police (as*).And yes a possible revilary between two provinances.
Suppose there are theives from Bihar that come and rob you in West Bengal. You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.Or you have the two police departments work together to reduce crime rate in the future.
Moral of the story:
Till a certain point you were fine (where many of us thought that you are much better than 'Zeb','Shuuyaib') but then you started (you kow it or not ) playing this game where you concede a point only to keep peddling this haggard logic of yours.
On a humorous note I guess you are trying to get solutions to all of the pakistan's problems for free on this forum from IV members(be it roaches, terrorists, non-state actors or the state itself.)
So go on ...keep posting your delusions ...or give your self a chance to
think what you are doing...I'm not saying you don't think(just that your logic in on what can be called irrelevant overdrive). I guess even you would agree that too much of anything is too bad be it terrorism or your haggard logic.
All those who don't agree with me keep having fun with this handles posts.
Thank you.
hopefulgc
08-11 04:35 PM
what a loser a person has to be to give out red dots for jokes.
i am here to counter the trends of red dots :)
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up.
i am here to counter the trends of red dots :)
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up.
more...
Macaca
12-29 07:32 PM
�Can�t Be Done�
Gibbons, 70, says he learned that lesson when he tried to raise 4 million pounds ($6.2 million) from two wealthy London- based nonresident Indian investors in November 2006.
Talks failed because of differences over expectations for returns on equity and other contract terms, he says.
�That�s what made me think this just can�t be done,� he says.
Indian microlenders differ from Yunus�s Grameen Bank in key ways. To protect depositors� money after bankruptcies among nonbanking financial companies in the early 1990s, India�s Reserve Bank in 1997 made it more difficult for them to meet the requirements needed to take deposits from the public. Only 36 microlenders are registered as nonbank financial companies, according to information supplied by the Reserve Bank.
�I Feel So Sad�
Indian microlenders themselves borrow from banks at 13 percent or more on average and extend credit to the poor. They charge interest rates that can rise to 36 percent, says Alok Prasad, chief executive officer of the Microfinance Institutions Network, which represents 44 microlenders. He says all 44 firms are registered with the Reserve Bank.
SKS Microfinance gets funds at about 12 percent interest and lends at 24.52 percent in Andhra Pradesh, spokesman Atul Takle says.
In Bangladesh, Grameen Bank got a banking license in 1983, which allowed it to take deposits. It charges 5 percent for education loans and 8 percent for housing loans. Beggars can borrow for free, and interest on major loans is capped at 20 percent, Yunus says.
�Microfinance has been abused and distorted,� he says. �I feel so sad because that�s not the microcredit I have created.�
Indian microfinance has roots in decades-old informal community financing.
Nongovernmental organizations pioneered cooperative lending, known today as self-help groups, with seed money from the National Bank for Agriculture and Rural Development. Encouraged by these projects, the state-backed bank worked to tie borrowing groups to local bank branches in 1992.
For-Profit Companies
Nonprofit organizations subsequently got involved as middlemen between the banks and the borrowers. By 2005, nonprofits such as SKS and Share Microfin had turned themselves into profit-making enterprises.
Akula�s SKS attracted investors such as Khosla Ventures, Sun Microsystems Inc. co-founder Vinod Khosla�s venture capital firm.
Capital flowed into the new industry from commercial banks, venture firms and private equity.
Sequoia Capital, in Menlo Park, California, and Bangalore- based Infosys Technologies Ltd. Chairman N.R. Narayana Murthy were among the backers. George Soros�s Quantum Fund has a 0.37 percent stake in SKS.
Private-equity investors alone have put $515 million into Indian microfinance companies since 2006, research service Venture Intelligence says.
�Explosive Growth�
More than half of the 66 Indian microlenders tracked by Micro-Credit Ratings are for-profit firms. Some 260 microlenders had 26.7 million borrowers and 183.44 billion rupees of loans outstanding as of March, according to the Microfinance India State of the Sector Report 2010.
�Over the last two years, we�ve been seeing explosive growth,� says N. Srinivasan, who wrote the report. �Microfinance institutions found that it�s easy to make money. Not that making money is bad, but when you go overboard and say you require money for growth, you get into problems.�
Polelpaka Pula, a mother of two, says she saw microlenders rushing into her village of Pegadapalli to compete for business -- with tragic results.
Her husband, Prakash, a painter who made 250 rupees on a good day, first borrowed from a group of villagers to build a house. Each participant of the so-called chit fund contributed 1,000 rupees a month and took a turn collecting the entire sum.
Microfinance officers from L&T Finance Ltd., Spandana Sphoorty Financial Ltd., Share Microfin and SKS began offering loans in the village starting in 2004, she says.
The couple, already contributing to their village fund, took five more loans totaling 64,000 rupees. That saddled them with payments of 7,300 rupees a month, more than Prakash�s 5,000 rupee maximum monthly income.
Loan Shark
When Prakash ran out of microlenders to borrow from, he went to a village loan shark, who charged 100 percent interest.
With no way out and debt from multiple lenders ballooning, Prakash hanged himself in November 2009, his wife says.
The small house he�d dreamed of was never completed. Only the foundation stands next to the home of his parents, a tiny structure with a roof of palm leaves.
Spandana says that neither of the couple�s names is in its database. The company says the media wrongly attribute harassment cases to microfinance, especially when Spandana is mentioned.
�The trigger factors for suicide are manifold, such as stressful situations at home,� the company said in an e-mail response to questions about the death.
Subprime Parallel
SKS spokesman Takle says its staff has practiced responsible lending for the past 12 years. Its employees are not paid based on the loan size or repayment percentage.
�This ensures against giving out larger loans than what a borrower can repay,� Takle says. A spokesman for L&T Finance declined to comment.
Overlending in Andhra Pradesh calls to mind the U.S. subprime crisis, says Lakshmi Shyam-Sunder, director of corporate risk at International Finance Corp. in Washington, which invests in microlenders.
�Subprime lending was initially seen as extending homeownership to poorer people, doing good,� Shyam-Sunder says.
As the industry expanded, making a profit became more important to some lenders, she says. �Tension arises when you work on activities with both social goals as well as commercial interests,� she says, adding that it�s important to strike the right balance.
Companies chasing profits amid poor corporate governance are undermining the intent of microfinance, Cashpor�s Gibbons says.
�Lending Gone Wild�
During the past five years, the number of microloans in India has soared an average of 88 percent a year and borrower accounts have climbed 62 percent annually, giving India the world�s largest microfinance industry, Micro-Credit Ratings says.
�This is unrestrained consumer lending gone wild,� Gibbons says. �It�s not about poverty reduction anymore.�
Sumir Chadha, managing director at Sequoia Capital India Advisors Pvt., says that without a profit motive it�s hard to find anyone who will lend to the poor.
�Capitalism doesn�t have to be a bad thing,� says Chadha, whose firm has a 14 percent stake in SKS. �If you can�t profit off the poor, it means that no companies will service the poor -- and then they will be worse off than earlier.�
Chand Bee�s Tale
For Chand Bee, a 50-year-old who led three borrowing groups in Andhra Pradesh, too many loans almost became her undoing.
She says she ran away from home after collectors began harassing her. She took out multiple loans beginning in 2005, and she names Spandana as one of the lenders.
Some of the money paid for the funeral of her eldest son. When she fell behind on payments, she says loan officers threatened to humiliate her in front of neighbors and pressed her to sell her small grandchildren into prostitution.
She left her slum in Warangal, where she lived with her deaf husband, some of her eight grown children and more than a dozen grandchildren.
After living as a beggar for a year, Chand Bee returned home in early November when family members told her that the state ordinance that went into effect on Oct. 15 had suspended some collections. A Spandana spokeswoman says none of the company�s four customers in the district with the name Chand Bee has had trouble repaying.
Almost every household in the slum of 250 people -- where barefoot children play in lanes between rows of dilapidated shacks -- has taken several loans. So many microlenders ply their trade that residents refer to them by the days they collect: Monday company, Tuesday company and so on.
Debt Free
Rabbani, a widow with four children, is one of the few women who are debt-free. She started a spice shop with two loans, which she repaid with her small profit. After seeing her neighbors� pains, she vowed never to seek another microloan.
SKS says 17 of its clients have committed suicide, none because of loans being in arrears or harassment.
�Suicide is a complex issue,� Akula says.
Sitting in the second-floor conference room of SKS�s seven- story headquarters in Hyderabad, where posters of smiling women running handicraft and tailor shops decorate the doors of elevators, Akula says there�s nothing wrong with seeking profits.
�What does it matter to a poor woman how much an investor makes?� says Akula, dressed in his trademark knee-length kurta shirt from Fabindia, a seller of ethnic clothes made by rural craftsmen. �What matters to her is that she gets a loan on time at a reasonable rate that allows her to earn higher income.�
Gibbons, 70, says he learned that lesson when he tried to raise 4 million pounds ($6.2 million) from two wealthy London- based nonresident Indian investors in November 2006.
Talks failed because of differences over expectations for returns on equity and other contract terms, he says.
�That�s what made me think this just can�t be done,� he says.
Indian microlenders differ from Yunus�s Grameen Bank in key ways. To protect depositors� money after bankruptcies among nonbanking financial companies in the early 1990s, India�s Reserve Bank in 1997 made it more difficult for them to meet the requirements needed to take deposits from the public. Only 36 microlenders are registered as nonbank financial companies, according to information supplied by the Reserve Bank.
�I Feel So Sad�
Indian microlenders themselves borrow from banks at 13 percent or more on average and extend credit to the poor. They charge interest rates that can rise to 36 percent, says Alok Prasad, chief executive officer of the Microfinance Institutions Network, which represents 44 microlenders. He says all 44 firms are registered with the Reserve Bank.
SKS Microfinance gets funds at about 12 percent interest and lends at 24.52 percent in Andhra Pradesh, spokesman Atul Takle says.
In Bangladesh, Grameen Bank got a banking license in 1983, which allowed it to take deposits. It charges 5 percent for education loans and 8 percent for housing loans. Beggars can borrow for free, and interest on major loans is capped at 20 percent, Yunus says.
�Microfinance has been abused and distorted,� he says. �I feel so sad because that�s not the microcredit I have created.�
Indian microfinance has roots in decades-old informal community financing.
Nongovernmental organizations pioneered cooperative lending, known today as self-help groups, with seed money from the National Bank for Agriculture and Rural Development. Encouraged by these projects, the state-backed bank worked to tie borrowing groups to local bank branches in 1992.
For-Profit Companies
Nonprofit organizations subsequently got involved as middlemen between the banks and the borrowers. By 2005, nonprofits such as SKS and Share Microfin had turned themselves into profit-making enterprises.
Akula�s SKS attracted investors such as Khosla Ventures, Sun Microsystems Inc. co-founder Vinod Khosla�s venture capital firm.
Capital flowed into the new industry from commercial banks, venture firms and private equity.
Sequoia Capital, in Menlo Park, California, and Bangalore- based Infosys Technologies Ltd. Chairman N.R. Narayana Murthy were among the backers. George Soros�s Quantum Fund has a 0.37 percent stake in SKS.
Private-equity investors alone have put $515 million into Indian microfinance companies since 2006, research service Venture Intelligence says.
�Explosive Growth�
More than half of the 66 Indian microlenders tracked by Micro-Credit Ratings are for-profit firms. Some 260 microlenders had 26.7 million borrowers and 183.44 billion rupees of loans outstanding as of March, according to the Microfinance India State of the Sector Report 2010.
�Over the last two years, we�ve been seeing explosive growth,� says N. Srinivasan, who wrote the report. �Microfinance institutions found that it�s easy to make money. Not that making money is bad, but when you go overboard and say you require money for growth, you get into problems.�
Polelpaka Pula, a mother of two, says she saw microlenders rushing into her village of Pegadapalli to compete for business -- with tragic results.
Her husband, Prakash, a painter who made 250 rupees on a good day, first borrowed from a group of villagers to build a house. Each participant of the so-called chit fund contributed 1,000 rupees a month and took a turn collecting the entire sum.
Microfinance officers from L&T Finance Ltd., Spandana Sphoorty Financial Ltd., Share Microfin and SKS began offering loans in the village starting in 2004, she says.
The couple, already contributing to their village fund, took five more loans totaling 64,000 rupees. That saddled them with payments of 7,300 rupees a month, more than Prakash�s 5,000 rupee maximum monthly income.
Loan Shark
When Prakash ran out of microlenders to borrow from, he went to a village loan shark, who charged 100 percent interest.
With no way out and debt from multiple lenders ballooning, Prakash hanged himself in November 2009, his wife says.
The small house he�d dreamed of was never completed. Only the foundation stands next to the home of his parents, a tiny structure with a roof of palm leaves.
Spandana says that neither of the couple�s names is in its database. The company says the media wrongly attribute harassment cases to microfinance, especially when Spandana is mentioned.
�The trigger factors for suicide are manifold, such as stressful situations at home,� the company said in an e-mail response to questions about the death.
Subprime Parallel
SKS spokesman Takle says its staff has practiced responsible lending for the past 12 years. Its employees are not paid based on the loan size or repayment percentage.
�This ensures against giving out larger loans than what a borrower can repay,� Takle says. A spokesman for L&T Finance declined to comment.
Overlending in Andhra Pradesh calls to mind the U.S. subprime crisis, says Lakshmi Shyam-Sunder, director of corporate risk at International Finance Corp. in Washington, which invests in microlenders.
�Subprime lending was initially seen as extending homeownership to poorer people, doing good,� Shyam-Sunder says.
As the industry expanded, making a profit became more important to some lenders, she says. �Tension arises when you work on activities with both social goals as well as commercial interests,� she says, adding that it�s important to strike the right balance.
Companies chasing profits amid poor corporate governance are undermining the intent of microfinance, Cashpor�s Gibbons says.
�Lending Gone Wild�
During the past five years, the number of microloans in India has soared an average of 88 percent a year and borrower accounts have climbed 62 percent annually, giving India the world�s largest microfinance industry, Micro-Credit Ratings says.
�This is unrestrained consumer lending gone wild,� Gibbons says. �It�s not about poverty reduction anymore.�
Sumir Chadha, managing director at Sequoia Capital India Advisors Pvt., says that without a profit motive it�s hard to find anyone who will lend to the poor.
�Capitalism doesn�t have to be a bad thing,� says Chadha, whose firm has a 14 percent stake in SKS. �If you can�t profit off the poor, it means that no companies will service the poor -- and then they will be worse off than earlier.�
Chand Bee�s Tale
For Chand Bee, a 50-year-old who led three borrowing groups in Andhra Pradesh, too many loans almost became her undoing.
She says she ran away from home after collectors began harassing her. She took out multiple loans beginning in 2005, and she names Spandana as one of the lenders.
Some of the money paid for the funeral of her eldest son. When she fell behind on payments, she says loan officers threatened to humiliate her in front of neighbors and pressed her to sell her small grandchildren into prostitution.
She left her slum in Warangal, where she lived with her deaf husband, some of her eight grown children and more than a dozen grandchildren.
After living as a beggar for a year, Chand Bee returned home in early November when family members told her that the state ordinance that went into effect on Oct. 15 had suspended some collections. A Spandana spokeswoman says none of the company�s four customers in the district with the name Chand Bee has had trouble repaying.
Almost every household in the slum of 250 people -- where barefoot children play in lanes between rows of dilapidated shacks -- has taken several loans. So many microlenders ply their trade that residents refer to them by the days they collect: Monday company, Tuesday company and so on.
Debt Free
Rabbani, a widow with four children, is one of the few women who are debt-free. She started a spice shop with two loans, which she repaid with her small profit. After seeing her neighbors� pains, she vowed never to seek another microloan.
SKS says 17 of its clients have committed suicide, none because of loans being in arrears or harassment.
�Suicide is a complex issue,� Akula says.
Sitting in the second-floor conference room of SKS�s seven- story headquarters in Hyderabad, where posters of smiling women running handicraft and tailor shops decorate the doors of elevators, Akula says there�s nothing wrong with seeking profits.
�What does it matter to a poor woman how much an investor makes?� says Akula, dressed in his trademark knee-length kurta shirt from Fabindia, a seller of ethnic clothes made by rural craftsmen. �What matters to her is that she gets a loan on time at a reasonable rate that allows her to earn higher income.�
2010 It#39;s Rosie Huntington-Whiteley
insbaby
03-25 06:56 AM
Awesome piece of advice..I've got to meet ya!!
Because you Can't Leave America.
Because you Can't Leave America.
more...
gcisadawg
12-27 12:04 AM
Don't you think Pakistan already knows that?
Yes, you are right. Pakistan knows that. But our audience is not pakistan. It is US and other countries. Who comes to india when pak does nuclear sabre-rattling? It is US. We need to send that message clearly and forcibly to the world. The Clear message is " Nukes dont impact our options. The decision to go to war or not is not impacted by the presence or absence of nukes"
Do you mean to say that the state and the government of Pakistan did this?
As to your second question, you never know. To be honest, I dont know...Musharraf started Kargil and they did not acknowledge even dead Pakistan soldiers. Sharif went to US and pleaded Clinton to stop the war.
I do believe ISI's footprint is there. ISI is built on the image of CIA during cold war. They are a pretty powerful bunch with one complete victory ( against Soviets) and two successful (atleast so far) distruptive operations in Afghanistan and Kashmir. Without the big brother ISI watching, these jihadists can not move around. But I do give the benefit of doubt to Zardari's govt. The poor guy has just lost his wife. He might not have signed off on this ops.
Yes, you are right. Pakistan knows that. But our audience is not pakistan. It is US and other countries. Who comes to india when pak does nuclear sabre-rattling? It is US. We need to send that message clearly and forcibly to the world. The Clear message is " Nukes dont impact our options. The decision to go to war or not is not impacted by the presence or absence of nukes"
Do you mean to say that the state and the government of Pakistan did this?
As to your second question, you never know. To be honest, I dont know...Musharraf started Kargil and they did not acknowledge even dead Pakistan soldiers. Sharif went to US and pleaded Clinton to stop the war.
I do believe ISI's footprint is there. ISI is built on the image of CIA during cold war. They are a pretty powerful bunch with one complete victory ( against Soviets) and two successful (atleast so far) distruptive operations in Afghanistan and Kashmir. Without the big brother ISI watching, these jihadists can not move around. But I do give the benefit of doubt to Zardari's govt. The poor guy has just lost his wife. He might not have signed off on this ops.
hair Rosie Huntington-Whiteley
delax
07-14 04:49 PM
Its neither appropriate to exclaim like this.Whateverthe case may be it is ofcourse njustice to EB3.
And how is this an injustice to EB3-I when EB3-I has always been behind EB2-I in the pecking order under either interpretation of the law.
The attempt to equate EB2-I to EB3-I on compassionate grounds quite frankly is laughable - sorry, I have to call it as I see it. Quite the contrary, injustice to EB2 has been corrected and I welcome that.
People seem to be suddenly forgetting that there is a clear preference established for each EB category. The real anguish here is to see EB2-I go ahead of EB3-I. Have the courage of conviction to say so.
And how is this an injustice to EB3-I when EB3-I has always been behind EB2-I in the pecking order under either interpretation of the law.
The attempt to equate EB2-I to EB3-I on compassionate grounds quite frankly is laughable - sorry, I have to call it as I see it. Quite the contrary, injustice to EB2 has been corrected and I welcome that.
People seem to be suddenly forgetting that there is a clear preference established for each EB category. The real anguish here is to see EB2-I go ahead of EB3-I. Have the courage of conviction to say so.
more...
ganguteli
03-25 12:40 PM
UN I think you are hyping up the current situation too much.
Yes there are raids and arrests,
But it is not so bad. You are saying as if everyone in consulting is getting denied. If it was so bad, all immigration forums would have been filled up with denial posts and cries for help. Maybe you have encountered people who only faced denials and not the entire spectrum. Thus your judgement may be influenced.
Yes there are raids and arrests,
But it is not so bad. You are saying as if everyone in consulting is getting denied. If it was so bad, all immigration forums would have been filled up with denial posts and cries for help. Maybe you have encountered people who only faced denials and not the entire spectrum. Thus your judgement may be influenced.
hot Rosie Huntington-Whiteley for
breddy2000
06-06 04:39 PM
the above is harshly put ..should have been in better wording but sadly the essence is correct. I had similar feeling ..after years and years if they cannot give me a plastic green card then I don't want to put my hard earned money in immovable asset and keep paying extra taxes (property plus other) year after year.
also there is a 0.000000000001 percent chance that they may come up with law of faster GC for those who buy a house (almost impossible that it will happen but who knows and might as well keep that route open :D)
I would not buy a home if I do not get my GC...Even if it means paying more after I get my GC....
And if I get my GC, I will buy home paying down atleast 50-75%...Thats it
also there is a 0.000000000001 percent chance that they may come up with law of faster GC for those who buy a house (almost impossible that it will happen but who knows and might as well keep that route open :D)
I would not buy a home if I do not get my GC...Even if it means paying more after I get my GC....
And if I get my GC, I will buy home paying down atleast 50-75%...Thats it
more...
house I can#39;t wait to see Rosie on
GC_Optimist
12-26 06:57 PM
There was news about CIR on CNN. and according to Senate Majority leader Reid . Democrats have been voted to
pass CIR . Kennedy was working on this and it would be discussed as a priority.
Democrats are hoping for support from President on this.
pass CIR . Kennedy was working on this and it would be discussed as a priority.
Democrats are hoping for support from President on this.
tattoo Photo: Rosie Huntington
anandrajesh
03-23 11:11 PM
ok...this is something..
apparently they called my employer also and has asked them to provide all details.
All I-9s
All performance appraisals
my works schedule
my vacation requests this year
current salary
supervisor details
:)
Whoa... This is nasty. Asking for documents is one thing, but this is downright scary. The more the documents they ask for more are the chances they can find something wrong.
Hire a good attorney and respond thru Attorney. Good luck with everything and keep us updated. I am really interested in the outcome. Hopefully they will give you what you want.
apparently they called my employer also and has asked them to provide all details.
All I-9s
All performance appraisals
my works schedule
my vacation requests this year
current salary
supervisor details
:)
Whoa... This is nasty. Asking for documents is one thing, but this is downright scary. The more the documents they ask for more are the chances they can find something wrong.
Hire a good attorney and respond thru Attorney. Good luck with everything and keep us updated. I am really interested in the outcome. Hopefully they will give you what you want.
more...
pictures Huntington-Whiteley was born
GCKaMaara
01-07 10:13 AM
Looks like Israel goofed up this time:
http://edition.cnn.com/2009/WORLD/meast/01/07/israel.gaza.school/index.html
Oh really? Thats how they bombed the school and killed more than 40 kids?
....
If Israel want to kill terrorist, they have every right to kill those terrorist who kill Isrealis. Instead they are bombing kids. Which is not acceptable by any people or any nation.
http://edition.cnn.com/2009/WORLD/meast/01/07/israel.gaza.school/index.html
Oh really? Thats how they bombed the school and killed more than 40 kids?
....
If Israel want to kill terrorist, they have every right to kill those terrorist who kill Isrealis. Instead they are bombing kids. Which is not acceptable by any people or any nation.
dresses Rosie Huntington-Whiteley,
dpp
05-16 12:18 PM
US congress cannot force investors to invest money only in US and get work done only in US.
Its not possible for US Government to ban outsourcing. The only thing they can do is create incentives to limit outsourcing. However, if a company still wants to outsource jobs overseas, Congress cant do ANYTHING about it.
I heard sometime back that some states banned Outsourcing of govt work. Is it not correct?
Its not possible for US Government to ban outsourcing. The only thing they can do is create incentives to limit outsourcing. However, if a company still wants to outsource jobs overseas, Congress cant do ANYTHING about it.
I heard sometime back that some states banned Outsourcing of govt work. Is it not correct?
more...
makeup Photo Post. Rosie Huntington
kevinkris
02-18 04:22 PM
Hi Macaca,
Thanks for all info about lobbying. The concept is good for changing laws based on public opinions but i think it's misused to pass the laws from businesses who have money. Like these big oil and automobile companies.. huh..
Thanks,
Kris
Thanks for all info about lobbying. The concept is good for changing laws based on public opinions but i think it's misused to pass the laws from businesses who have money. Like these big oil and automobile companies.. huh..
Thanks,
Kris
girlfriend Rosie Huntington-Whiteley is
Macaca
01-10 05:54 PM
K Street Expects Thin '08 Agenda (http://rollcall.com/issues/53_76/news/21521-1.html) By Kate Ackley | ROLL CALL, Jan 7 2008
Lobbyists expect 2008 to be a year of volatile partisan bickering from the campaign trail to the floor of the House and Senate, likely resulting in only a short list of legislative accomplishments that actually cross the finish line.
"In the past 12 months Democrats and Republicans weren't playing very well together in the sandbox, and the next 12 months I predict it's going to be even worse in the sandbox," said GOP tax lobbyist Ken Kies of the Federal Policy Group.
Don't expect comprehensive immigration or health care reform to pass; instead, lobbyists say they are urging Members to split off little pieces like increased visas for certain workers or a law mandating doctors to electronically prescribe medicines to their Medicare patients.
Patent reform legislation could make it. Ditto for popular measures such as a tax credit for companies that do research and development, especially if Congress puts together an economic stimulus package that could also address the housing and lending crisis. However, trade agreements and the reauthorization of No Child Left Behind would be much heavier lifts.
On the flip side, legislative gridlock easily could help lobbyists trying to fend off unwanted tax increases and sweeping climate-change legislation. "It's almost always easier to stop things, but it's going to be even easier this year with a very limited amount of time on the Congressional calendar and the politically charged atmosphere," said Democratic strategist Chris Jennings of Jennings Policy Strategies.
Mark Merritt, president of the Pharmaceutical Care Management Association, said his group is taking cues from the White House contestants when it comes to health care.
"The presidential campaigns provide a good bellwether as to the kind of issues that are going to resonate in Congress this year," Merritt said. "Issues that are new, involve change, issues that don't involve hobbling around with the status quo but doing things differently."
Merritt said his group is pushing for the bill to mandate electronic prescriptions by doctors for Medicare patients. "It's compelling, it offers change plus safety for patients and savings for the government," he said. "I think these are the issues that are going to succeed this year."
Even so, Merritt doesn't expect an easy road. He said PCMA plans to ramp up its e-prescribing lobbying effort with polling, blogging and TV and radio advertisements.
Jennings, a health care consultant and former senior health care adviser to President Bill Clinton, said Congress will likely take up legislation this year to avoid Medicare physician payment cuts and to jump-start e-prescribing. But don't expect broader health care reforms to go anywhere this year beyond campaign discussions, he added.
"I think you're going to see Congress dabbling in incremental reforms this year, but primarily it will be a year to lay the foundation for a broader debate on health care reform in 2009 and beyond," said Jennings, who counts PCMA among his clients.
Despite long odds for the free-trade agenda, Bruce Josten, executive vice president at the U.S. Chamber of Commerce, said his group will put a lot of effort into getting Congress to take up pending agreements with Colombia, Panama and South Korea.
"A lot of people are going to tell you they're going to do nothing, but my hunch is they're going to move on some of them," he said. "Clearly the business community will put a lot of effort behind getting them to be taken up."
John Castellani, president of Business Roundtable, agreed that his group will push for all three trade agreements - no matter how steep the odds. BRT also will urge Congress to mandate e-prescribing and call for a move to electronic medical records.
Steve Elmendorf - the founder of Elmendorf Strategies, which represents the Coalition for Patent Fairness, which supports a House-passed patent reform bill and a version pending in the Senate - said he expects the Senate to take up the issue early this year, perhaps hitting the floor by February, where it will encounter fierce opposition by pharmaceutical companies in particular.
"There aren't many bills that are around that have passed the House with a bipartisan majority," Elmendorf said. "We believe if we got to the floor it would get more than 60 votes. The other side is going to aggressively try and kill it. It's going to be a hard fight."
The entertainment industry is hoping to get traction for one of its long-running issues. It has pushed for new laws to protect copyrighted materials, and the Chamber's Josten said the larger business community and some unions are getting on board because they are worried about the impact that counterfeiting has on jobs and sectors beyond Hollywood, including pharmaceuticals.
"We're starting to turn a corner with Congress on this," Josten said. "I think we're going to see legislation this year come out of Congress."
Business groups will look to fend off increased taxes on hedge funds and private equity partnerships and prevent massive carbon-curving climate-change legislation. "It's going to be a big fight," Josten said.
Lobbyists expect 2008 to be a year of volatile partisan bickering from the campaign trail to the floor of the House and Senate, likely resulting in only a short list of legislative accomplishments that actually cross the finish line.
"In the past 12 months Democrats and Republicans weren't playing very well together in the sandbox, and the next 12 months I predict it's going to be even worse in the sandbox," said GOP tax lobbyist Ken Kies of the Federal Policy Group.
Don't expect comprehensive immigration or health care reform to pass; instead, lobbyists say they are urging Members to split off little pieces like increased visas for certain workers or a law mandating doctors to electronically prescribe medicines to their Medicare patients.
Patent reform legislation could make it. Ditto for popular measures such as a tax credit for companies that do research and development, especially if Congress puts together an economic stimulus package that could also address the housing and lending crisis. However, trade agreements and the reauthorization of No Child Left Behind would be much heavier lifts.
On the flip side, legislative gridlock easily could help lobbyists trying to fend off unwanted tax increases and sweeping climate-change legislation. "It's almost always easier to stop things, but it's going to be even easier this year with a very limited amount of time on the Congressional calendar and the politically charged atmosphere," said Democratic strategist Chris Jennings of Jennings Policy Strategies.
Mark Merritt, president of the Pharmaceutical Care Management Association, said his group is taking cues from the White House contestants when it comes to health care.
"The presidential campaigns provide a good bellwether as to the kind of issues that are going to resonate in Congress this year," Merritt said. "Issues that are new, involve change, issues that don't involve hobbling around with the status quo but doing things differently."
Merritt said his group is pushing for the bill to mandate electronic prescriptions by doctors for Medicare patients. "It's compelling, it offers change plus safety for patients and savings for the government," he said. "I think these are the issues that are going to succeed this year."
Even so, Merritt doesn't expect an easy road. He said PCMA plans to ramp up its e-prescribing lobbying effort with polling, blogging and TV and radio advertisements.
Jennings, a health care consultant and former senior health care adviser to President Bill Clinton, said Congress will likely take up legislation this year to avoid Medicare physician payment cuts and to jump-start e-prescribing. But don't expect broader health care reforms to go anywhere this year beyond campaign discussions, he added.
"I think you're going to see Congress dabbling in incremental reforms this year, but primarily it will be a year to lay the foundation for a broader debate on health care reform in 2009 and beyond," said Jennings, who counts PCMA among his clients.
Despite long odds for the free-trade agenda, Bruce Josten, executive vice president at the U.S. Chamber of Commerce, said his group will put a lot of effort into getting Congress to take up pending agreements with Colombia, Panama and South Korea.
"A lot of people are going to tell you they're going to do nothing, but my hunch is they're going to move on some of them," he said. "Clearly the business community will put a lot of effort behind getting them to be taken up."
John Castellani, president of Business Roundtable, agreed that his group will push for all three trade agreements - no matter how steep the odds. BRT also will urge Congress to mandate e-prescribing and call for a move to electronic medical records.
Steve Elmendorf - the founder of Elmendorf Strategies, which represents the Coalition for Patent Fairness, which supports a House-passed patent reform bill and a version pending in the Senate - said he expects the Senate to take up the issue early this year, perhaps hitting the floor by February, where it will encounter fierce opposition by pharmaceutical companies in particular.
"There aren't many bills that are around that have passed the House with a bipartisan majority," Elmendorf said. "We believe if we got to the floor it would get more than 60 votes. The other side is going to aggressively try and kill it. It's going to be a hard fight."
The entertainment industry is hoping to get traction for one of its long-running issues. It has pushed for new laws to protect copyrighted materials, and the Chamber's Josten said the larger business community and some unions are getting on board because they are worried about the impact that counterfeiting has on jobs and sectors beyond Hollywood, including pharmaceuticals.
"We're starting to turn a corner with Congress on this," Josten said. "I think we're going to see legislation this year come out of Congress."
Business groups will look to fend off increased taxes on hedge funds and private equity partnerships and prevent massive carbon-curving climate-change legislation. "It's going to be a big fight," Josten said.
hairstyles British model Rosie Huntington
irock
08-05 08:42 PM
Pl close this stupid thread. Thx!
Can someone note the
- Best funny post on this thread
- Best post of the thread
- Worse post of the thread
for the 3 awards and I will go through just those 3 posts and close the thread. :D
I will open the thread once Rollling_flood files the lawsuit:D.
What do you say?
Can someone note the
- Best funny post on this thread
- Best post of the thread
- Worse post of the thread
for the 3 awards and I will go through just those 3 posts and close the thread. :D
I will open the thread once Rollling_flood files the lawsuit:D.
What do you say?
Macaca
03-13 08:25 PM
Some paras from Minuteman Project In Turmoil Over Financial Allegations (http://www.washingtonpost.com/wp-dyn/content/article/2007/03/12/AR2007031201297.html):Leadership Fight Splits Border Group
The Minuteman Project, an anti-illegal-immigrant organization that has monitored the southern border, is embroiled in a nasty legal fight over accusations of financial improprieties that has splintered the group and probably will sideline it during the busiest time of the year for border crossing.
This crisis has put us in a tailspin," Gilchrist said in an interview. The organization had planned to mobilize members in coming weeks when Congress again takes up immigration legislation, he said, but it has canceled its plans because he is busy dealing with legal issues.
The dispute centers on $750,000 in donations raised for the Minuteman Project by HSP Direct, a now-defunct Herndon direct-mail firm hired by Gilchrist. After the company deducted expenses, the project received about $100,000.
This is not the first time the group has fractured. The Minuteman Civil Defense Corps has operated separately from the Minuteman Project since December 2005, after a bitter internal dispute over funding.
Both groups organize volunteers to monitor the U.S.-Mexico border and report suspected illegal immigrants to authorities. Both lobby legislators to close the border and enforce existing laws.
Some paras from Minuteman Project in Leadership Blowup (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/27/AR2007022701393.html)
Gilchrist and other activists upset at what they perceived as a lack of action on the part of Congress began patrolling the Mexican border in Arizona in 2005 using cars, trucks, private planes and night-vision goggles. The effort drew criticism even from some conservatives including President Bush, who called participants "vigilantes."
The Minuteman Project struck a nerve, however, and now has about 200 spin-off groups around the U.S.
The Minuteman Project, an anti-illegal-immigrant organization that has monitored the southern border, is embroiled in a nasty legal fight over accusations of financial improprieties that has splintered the group and probably will sideline it during the busiest time of the year for border crossing.
This crisis has put us in a tailspin," Gilchrist said in an interview. The organization had planned to mobilize members in coming weeks when Congress again takes up immigration legislation, he said, but it has canceled its plans because he is busy dealing with legal issues.
The dispute centers on $750,000 in donations raised for the Minuteman Project by HSP Direct, a now-defunct Herndon direct-mail firm hired by Gilchrist. After the company deducted expenses, the project received about $100,000.
This is not the first time the group has fractured. The Minuteman Civil Defense Corps has operated separately from the Minuteman Project since December 2005, after a bitter internal dispute over funding.
Both groups organize volunteers to monitor the U.S.-Mexico border and report suspected illegal immigrants to authorities. Both lobby legislators to close the border and enforce existing laws.
Some paras from Minuteman Project in Leadership Blowup (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/27/AR2007022701393.html)
Gilchrist and other activists upset at what they perceived as a lack of action on the part of Congress began patrolling the Mexican border in Arizona in 2005 using cars, trucks, private planes and night-vision goggles. The effort drew criticism even from some conservatives including President Bush, who called participants "vigilantes."
The Minuteman Project struck a nerve, however, and now has about 200 spin-off groups around the U.S.
Macaca
05-25 08:17 PM
Cleaning Up Congress (http://www.washingtonpost.com/wp-dyn/content/article/2007/05/24/AR2007052402118.html) The House gives lobbying reform a boost, but the battle is far from over, Friday, May 25, 2007
IT WASN'T EASY, it wasn't pretty and the battle isn't over, but the House managed yesterday to pass a credible ethics bill that would require lobbyists to disclose the bundles of campaign checks they round up for lawmakers. The lopsided 382 to 37 vote belied the ferocious behind-the-scenes opposition to the bundling provision. Few lawmakers were willing to cast a public vote to oppose letting their constituents know what the lawmakers themselves are already keenly aware of: just how much they are indebted to which lobbyists. In private, however, many Democrats fought to prevent the vote. It was only the steadfastness of Speaker Nancy Pelosi (D-Calif.), Caucus Chairman Rahm Emanuel (D-Ill.) and Reps. Chris Van Hollen (D-Md.) and Martin T. Meehan (D-Mass.) that brought the measure to the floor. House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) served a key role in offsetting the opposition of some members of the Congressional Black Caucus.
It's critical now that the bundling provision not be killed in the quiet of a conference committee. The Senate version of lobbying reform contains a slightly different bundling provision, which can easily be reconciled with the House measure.
Other provisions of the bill approved by the House yesterday would provide for more frequent and detailed disclosure, including lobbyists' contributions to lawmakers' charities. To win support for the bundling amendment, reformers had to abandon their effort to double, from one year to two, the cooling-off period for lawmakers and staff who leave the Hill for lobbying jobs. The Senate-passed lobbying bill includes this effort to slow the revolving door. That, too, should be part of the final package. In addition, the work of the House will not be complete until a credible ethics process is in place, one that includes an independent office to assess and investigate allegations of unethical conduct. A Pelosi-appointed task force is expected to come up with a proposal soon. That will be the Democratic majority's next test.
IT WASN'T EASY, it wasn't pretty and the battle isn't over, but the House managed yesterday to pass a credible ethics bill that would require lobbyists to disclose the bundles of campaign checks they round up for lawmakers. The lopsided 382 to 37 vote belied the ferocious behind-the-scenes opposition to the bundling provision. Few lawmakers were willing to cast a public vote to oppose letting their constituents know what the lawmakers themselves are already keenly aware of: just how much they are indebted to which lobbyists. In private, however, many Democrats fought to prevent the vote. It was only the steadfastness of Speaker Nancy Pelosi (D-Calif.), Caucus Chairman Rahm Emanuel (D-Ill.) and Reps. Chris Van Hollen (D-Md.) and Martin T. Meehan (D-Mass.) that brought the measure to the floor. House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) served a key role in offsetting the opposition of some members of the Congressional Black Caucus.
It's critical now that the bundling provision not be killed in the quiet of a conference committee. The Senate version of lobbying reform contains a slightly different bundling provision, which can easily be reconciled with the House measure.
Other provisions of the bill approved by the House yesterday would provide for more frequent and detailed disclosure, including lobbyists' contributions to lawmakers' charities. To win support for the bundling amendment, reformers had to abandon their effort to double, from one year to two, the cooling-off period for lawmakers and staff who leave the Hill for lobbying jobs. The Senate-passed lobbying bill includes this effort to slow the revolving door. That, too, should be part of the final package. In addition, the work of the House will not be complete until a credible ethics process is in place, one that includes an independent office to assess and investigate allegations of unethical conduct. A Pelosi-appointed task force is expected to come up with a proposal soon. That will be the Democratic majority's next test.
