On Friday, April 11th, Republican Senator and Presidential nominee John McCain defended his heavily criticized proposal that $3 to $10 billion in taxpayer money be spend to bail out between 200 and 400 thousand U.S. mortgage holders who are in danger of being foreclosed on. When attacked by both Democrats and conservative voters for his […]
Subprime Troubles Become a Prime Power Grab
"Keep people off-balance and in the dark by never revealing the purpose behind your actions. If they have no clue what you are up to, they cannot prepare a defense. Guide them far enough down the wrong path, envelope them in enough smoke, and by the time they realize your intentions, it will be too […]
John McCain Won’t Give Free Rides to the Irresponsible
Just a couple of days ago, de facto Republican Presidential nominee Senator John McCain delivered a message of tempered—and temporary—federal government help. Speaking publicly from Santa Ana, California, John McCain said, "It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers. […]
The end of currency?
Modern industry is paralyzed by confusion regarding money. This fact causes production costs to increase and therefore purchasing power lowers. People are apt to pass on the costs and the least powerful people lose big. Meanwhile the most powerful people sell short and reap unconscionable benefits as everyone scrambles to make sense of the chaos. […]
HDFC cuts lending rate 25 pts and Stock gains 5%
Country’s premier housing finance company, Housing Development Finance Corp. Ltd (HDFC) has decided to cut its retail prime lending rate, by 25 basis points to 13.75%. While, for the new Home Loan customers, its rate of interest under the Adjustable Rate Home Loan continues to be at 10.25% per annum. The move will benefit old […]
Tip to prepare for SME loan
Tip to prepare for SME loan Once upon a time, my bankers used to tell me that they would prefer to screen credit for big clients who are seeking large fund than those apply for small amount of loan. Their philosophy is “Cost is the same but margin is way higher”. Whether they are […]