When in debt, always request validation

If you’re drowning in debt and need major credit repair, do not automatically assume that debt collectors have your best interests at heart. debt collectors want money, and often they’ll go to unconscionable lengths to get it. Thus, the consumer’s defense is to demand that a debt collector verify debt in writing to confirm its legitimacy. Post resource – Demand that debt collectors verify your debt before paying by MoneyBlogNewz.

Bankruptcy scenario with debt validation

Want a debt collector to validate debt? It should be something somebody demands for as bankrate.com shows in a situation. A couple has a home with a mortgage that is in both their names. Collections have $30,000 in debt from the woman. This is all of credit card debt. The couple is worried they’ll lose their home while the woman is considering filing for Chapter 13 bankruptcy.

Bankrate explains that a home is typically okay in both a Chapter 13 and Chapter 7 bankruptcy although there are other potential complications that an attorney may be needed for.

Debt collectors could be scared of you

Get everything on paper when dealing with debt collectors. Don’t expose bank account information when they push to set up automatic payments. Demand that the debt collector provide a fax number or address to which you can submit a request for debt validation. You are able to dispute the debt at the exact same time.

The debt collector has to prove that you own money, which the original business is that held the debt and those they have the right to collect from you when you request debt verification. In case the collector doesn't really have any information or if it is wrong, you are ahead whenever you dispute the debt. Few things are as fruitless as giving money to a collection business that might not even own your account.

Check your rights out

Under the Fair Debt Collection Practices Act, a consumer has the right to force a debt collector to validate a debt. Lawyer Tom Martin of Price Law Group says that if debt collectors fail to comply, they cannot legally continue to harass a consumer for payment. The consumer can sue if the collector continues. That's not it though:

“If a debt collector receives a dispute from a consumer, and the debt collector has been reporting the consumer’s account to the credit bureaus, the collector must also start reporting the account as disputed,” Martin reminds.

The directive to "get it in writing" isn't only for the collector. The consumer must also comply. If any debt payments are made, receipts and statements should be kept as proof in the event of a lawsuit.

Citations

Bankrate

bankrate.com/finance/debt/demand-debt-verification-before-bankruptcy.aspx

Fair Debt Collection Practices Act

ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf

Lawyers.com

lawyers.com/Bankruptcy/browse-by-location.html

U.S. Courts

uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter13.aspx

What happens when you’re drowning in debt?

youtube.com/watch?v=GTudZEujvIo

Delta Air Lines decreases services to Japan as fuel prices rise

Delta Air Lines, among other air travel services, has reduced the number of flights the airline is conducting out and in of Japan as a result of the disasters that have taken place there. Falling demand and increasing costs have caused numerous airlines to cut service to and from Japan after the nation was rocked by natural disaster. Airlines worldwide are also feeling the pinch of rising costs of jet fuel. Article source – Delta Air Lines reduces services to Japan as fuel prices rise by MoneyBlogNewz.

Hard to fly out and in of Japan after quake

The number of flights going out and in of Japan is being reduced across the board, as major airlines have too little demand and costs are too high to keep sending flights, according to Bloomberg. The Qantas JetStar line, Singapore Airlines, Cathay Pacific Airways and Korean Air Lines have all had much slower business since the March 11 earthquake causing them to reduce flights to Japan.

Delta, in accordance with Reuters, will reduce service levels 15 to 20 percent until May. Between $250 and $400 million can be lost due to the quake, tsunami and nuclear devastation for the company. Japan Airlines and American Airlines are a joint venture. American Airlines has yet to announce a Japan service reduction. More than 9 million people fly to the United States from Japan each year.

Airlines having trouble paying for fuel

The price increase in fuel has been hard on airlines. They have been trying to deal with it for months now. There has been unrest in Libya and the Middle East for the past few weeks which has caused fuel costs to go up. Before that, the price was already increasing though because of the bad winter. As a result, air fare increases are being implemented by numerous airlines. This year, the air fare has been increased by Forbes already six times. This is in spite of the fact, reports Forbes, which since last year there was a 13 percent increase in Southwest passengers.

Paying for summer vacations means more money

CNN reports that the oil, gas and jet fuel price increases don't actually involve a shortage of oil in Libya which only gives the world 2 percent of its supply. In fear of spreading unrest, many raise the costs.

Unfortunately means that a full tank of gas is going to cost more during the summer, and many people might need installment loans to finance plane tickets for summer travel. Many think that the cost of travel will increase quite a bit no matter how much the air tickets end up costing in the end.

Articles cited

Bloomberg

bloomberg.com/news/2011-03-22/delta-air-lines-cuts-japan-seats-up-to-20-amr-says-quake-damped-revenue.html

Reuters

reuters.com/article/2011/03/22/us-delta-idUSTRE72L3HG20110322

Forbes

forbes.com/feeds/ap/2011/03/22/business-industrials-us-southwest-outlook_8368679.html

CNN

money.cnn.com/2011/03/22/markets/oil_prices/index.htm

Americans must plan for rising food costs this year

U.S. food prices are increasing faster than inflation. Checkout at the supermarket is getting more painful in the U.S. as demand rises globally for key goods used in food production. Source for this article – Global food inflation starting to hit U.S. grocery budgets harder by MoneyBlogNewz.

Prices of food increasing are an issue to deal with

There was a year-over-year increase of food inflation in January of 1.8 percent. The U.S. Consumer Price Index came out to state this. With the rising fuel prices and bad weather, the cost for many goods is increasing. The need is going up right along with it. So far, the impact of these factors has been most dramatic in meat prices. For example, due to tightening supplies, corn prices reached a 30-month high in January. Feeding livestock takes corn. That means it costs more to pay for livestock to live. More people in developing countries such as China and India want more meat too. In just the last five years, the export on beef in the U.S. has gone up 1.5 billion pounds.

Cost of food in U.S. average data

U.S. customers are bidding against people in other countries for a limited Global supply of meat. A year ago, the price for meat was down. In just that time, poultry prices have gone up 2 percent, beef went up 6 percent and pork went up 12 percent in cost. Throughout the world, other commodity costs are increasing. That means that other items bought at the store are becoming more expensive. There has been a huge increase in bread, milk and egg costs according to January CPI data. Cereal costs are climbing due to rising wheat costs, and coffee is at a premium because coffee bean prices jumped 77 percent last year. The 2011 expectations for pork are insane. There is anticipated to be a 10 percent increase in prices. Beef prices are anticipated to rise more than 7 percent. The cost of chicken should go up over 5 percent since Americans should be eating more chicken.

What the U.S. will be paying for food in the U.S.

The U.S. Department of Agriculture points out that a 3 to 4 percent increase in U.S. food prices is expected this year. U.S. lawmakers are trying to act like the food inflation doesn't affect Americans. Last week Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that effect of food inflation on consumers will be “temporary and relatively modest.”. Without considering food and energy costs in inflation, it was said that U.S. households spend 12 percent of income on fuel and food after taxes. The increases are adding up fast for consumers dealing with high unemployment and stagnant wage growth. About $33,000 a year was the 2008 average made by a taxpayer. Two decades ago, it was not that bad.

Citations

CNN Money

money.cnn.com/2011/03/08/news/economy/food_prices/index.htm” target=”_blank

Seeking Alpha

seekingalpha.com/article/256992-rising-prices-are-hitting-consumers-harder-than-the-fed-will-admit” target=”_blank

Agrimoney.com

agrimoney.com/news/meat—and-oil—to-lead-climb-in-us-food-prices–2903.html” target=”_blank

Android selling far more smartphones than RIM

RIM is no longer the king of the hill for smartphones, as the Blackberry line has fallen behind Android. RIM, Microsoft and Apple products have fallen behind Android, as the wildly well-liked OS by Google began spreading like wildfire as soon as it was released. You will find far more than 170 Android devices. Resource for this article – Android selling more smartphones than Research in Motion by MoneyBlogNewz.

Blackberry attractiveness dying

CNN states that the Blackberry mobile phones that Research in Motion created were supplying the best for smartphones for a while. The Google based Android platform has surpassed RIM in product sales after steadily outpacing all other domestic competition and safely pulling into the lead with far more than 31 percent of sales. In November 2009, the first Android operating phone came out at T-Mobile. It was the HTC G1. Since the Android came out, it has been growing continuously although it only had a 7 percent sector share for smartphones in 2010. Over 170 types of phones and tablet computers are using the Android OS now.

It is hard for old phones to make it

There are four popular United States smartphone platforms. Android is the only one consistently growing though. Research in Motion at one point sold 42 percent of all smartphones, however RIM sales have dwindled to 30.4 percent between February of 2010 and the end of January of 2011. Less than 10 percent of smartphones are Windows phones that have been going down for some time. Apple, with its flagship product the iPhone, has held fairly constant. Each day, about 350,000 new Android cell phones are activated. The Symbian OS offered by Nokia held a larger share of the market than Android until late 2010, when Symbian sales finally were eclipsed by Android.

Probably won't be seeing an Android Nokia phone anytime soon

Just about every phone business makes an Android phone, as Google licenses it for free, and adapting it is fairly simple for any developer, but Nokia isn’t having it, according to the Los Angeles Times. It was recently announced that Nokia is planning to revamp its offerings by partnering with Microsoft and installing Windows Mobile on Nokia phones. Microsoft is reportedly going to pay Nokia $1 billion for the rights to put Windows Phone 7 on Nokia devices, which could possibly be a net benefit for both businesses if it is successful.

Citations

CNN

money.cnn.com/2011/03/07/technology/android/index.htm

Los Angeles Times

latimesblogs.latimes.com/technology/2011/03/Microsoft-reportedly-paying-nokia-more-than-1-billion-to-use-windows-phone-os.html

Global warming in Columbia driving U.S. java prices through the roof

Coffee-drinking Americans are bellyaching about rising coffee costs. Coffee’s value as a commodity is spiking due to bad growing conditions, a proliferation of coffee drinkers and speculative craze around java . A calm port in the storm could be Starbucks, which will not raise prices accordingly, in accordance with its chief executive.

Coffee costs and global warming

May Coffee futures were very high at close to $3 a pound. That is the highest in 34 years that it has reached. The International Coffee Organization reports why this is. It said that the weather along with supply and demand has caused this increase in price. Troubles are coming from Climate change. It has not been good. Recently there have been lots of issues in java producing nations. This is because the temperature and heavy rains haven't been right for the grains. A balance of temperature, rainfall and dry spells are needed to make for the best java. Warm, wet weather also incubates coffee pests, such as a fungus called coffee rust. The second larger producer of Arabica beans is Columbia after Brazil. The temperatures in Columbia in recent decades have gone up on average one to two degrees. In the last few years, rain in Columbia’s coffee regions has increased more than 25 percent.

Has the world reached peak java

Colombia produced more than 12 million 132-pound bags of java in 2006. At the time, Columbian java producers set a 2014 goal of 17 million. Last year Columbian java production totaled 9 million bags. The demand of domestic coffee has offset the coffee production increase in Brazil. Brazil’s java consumption in 2010 grew to within 3 million bags of the U.S., the world’s top coffee-drinking nation. Consumers in the developing economies of China and India are also getting hooked on coffee. The world may have already hit "peak coffee" considering the Columbia Arabica bean crop might never actually recover from this. Demand and supply won’t meet up if the world has reached peak java. In fact, coffee costs could have to rise because of this.

What Starbucks has to say

Schultz is the Starbucks CEO. He said speculators are responsible for the price increase and states the company will not have a price change. Schultz told Fox Business News that speculators are making money off rising java futures while java drinkers and java farmers suffer. He said Starbucks has already bought enough coffee to last through fiscal 2011. But Starbucks profits have been in decline. Costs just keep going up for coffee though. When it comes time to resupply the java for 2012, Shultz may have to go back on his promise.

Citations

New York Times

nytimes.com/2011/03/10/science/earth/10coffee.html?pagewanted=2&_r=1&hp

Agrimoney.com

agrimoney.com/news/precarious-dynamics-to-keep-coffee-prices-high–2910.html

Wall Street Pit

wallstreetpit.com/65589-starbucks-sbux-ceo-says-rising-commodity-prices-are-a-result-of-speculation

Federal government cutting food safety budget during peanut butter recall

There are countless small food recalls each month. These recalls are headed by, but not required by, the Food and Drug Administration. Many recalls go unnoticed, but probably the most recent peanut butter recall – 2011’s Skippy recall – is calling focus on another issue with the federal budget. The increase in the number of recalls doesn’t seem to be supporting a rise in funding. Instead, lawmakers are considering reducing financing. Source for this article – Peanut butter recall 2011 highlights danger of cutting funding by MoneyBlogNewz.

Large recall on peanut butter this year

In a move anticipated to cost about $50 million or more, Skippy has recalled peanut butter in 16 states. Salmonella bacteria may be in the Skippy Reduced Fat Creamy Peanut Butter Spread and Skippy Reduced Fat Super Chunk Peanut Butter spread. The 16.3-ounce plastic jars with UPC numbers 048001006812 and 048001006782 are involved in the recall. Unilever as the Skippy manufacturing company is working with the FDA to get this product recalled.

Cash to pay for food safety

Something was added to the new FDA bill. In order to get a recall before, the FDA had to work with the company. Now the FDA can issue the recall itself. The FDA’s spending budget also integrated financing to hire new inspectors and generally keep a closer eye on food safety. It is possible for the funding for these changes to disappear. It is being looked at. The safety and quality of meat might go down. This is because there are reductions being done to the USDA. The FDA is getting cut additionally by Congress which makes it hard to enforce the new food safety laws. Each year, over 3,000 individuals die from tainted food. This lack of funding is something that is a significant issue.

Most essential food safety issue to figure out

Funding the food safety system in the United States is a difficult regulatory challenge. The United States needs the FDA. It is responsible for making sure the food and drugs are acceptable. Food safety is also, alternately, handled by the United States Department of Agriculture or 14 other federal agencies. State and local governments take on another level of oversight. There are several challenges with the heavier regulation though even though it might help food safety. A significant percentage of sales are lost by small farms, farmer's markets and local food because of these regulations. All of the food safety recalls means millions lost from the safety budget and economy. The political, social and economic changes might result in being too hard for everybody to face.

Articles cited

Slate

slate.com/id/2160235/

MSNBC

msnbc.msn.com/id/41943365/ns/health-food_safety/

Food Safety News

foodsafetynews.com/2011/03/new-york-times-food-safety-cuts-make-no-sense-at-all/

Government Accountability Office

gao.gov/new.items/d07449t.pdf

Sirhan Sirhan doesn't recall murdering Robert Kennedy

Sirhan Sirhan does not remember shooting Robert F. Kennedy to death, though he was convicted of the criminal offense. Sirhan was taken down at the scene by bystanders who disarmed him, and Sirhan claims to not remember a thing. It might not have been his fault, says his lawyer. The lawyer representing Sirhan maintains that his client was brainwashed into committing the criminal offense.

Lawyer implies Sirhan was brainwashed

MSNBC reports that the attorney of Sirhan Sirhan plans to argue that, there was brainwashing done to Sirhan leading to him murdering Robert F. Kennedy, at a parole hearing. In 1968, Sirhan got convicted of shooting Kennedy. Kennedy was known as the Lawyer General to the JFK administration while also being the younger brother of President John F. Kennedy. Just like "The Manchurian Candidate," which is about a man that gets brainwashed so he will assassinate a politician, William F. Pepper, or Sirhan's lawyer, states that his client had the exact same brainwashing scheme occur. Sirhan shot Kennedy in June of 1968 in the Ambassador hotel in Los Angeles after conditioning, states Pepper.

No recollection of shooting Kennedy

Sirhan said for a long time that he didn't even recall Robert Kennedy getting shot. During trial, Sirhan admit that he commit the criminal offense "with 20 years of malice aforethought." He said that he did it "for my country" while talking about the support Kennedy gave to Israel in 1967 during the Six Days War, states the Daily Mail. The Kennedy family didn't support the death penalty, although this was his original sentence. After the Supreme Court case Furman vs. Georgia made it so the death penalty wasn't allowed in the nation from 1972 to 1976, he got sentenced to life in prison.

Not doing much to get parole to go through

When it comes to getting parole, Sirhan Sirhan hasn't done much. He rarely attends hearings, mostly sending a lawyer, and he has dropped to send counsel on several occasions. However, his apprehension at the scene makes establishing his innocence or securing his release unlikely. Hotel staff got Sirhan to the ground while he was nevertheless firing the gun along with Kennedy supporters for instance journalist George Plimpton and Olympic athlete Rafer Johnson.

Articles cited

MSNBC

msnbc.msn.com/id/41822218/ns/us_news-crime_and_courts

Daily Mail

dailymail.co.uk/news/article-1361455/Robert-Kennedy-assassin-Sirhan-Bishara-claims-I-brainwashed-freedom-bid.html

Does daylight savings time really save energy?

The second Sunday in March marks the beginning of daylight savings time 2011. Five years have gone by since Congress moved to extend daylight savings time. Before 2007, daylight savings time begin on the first Sunday in April. Since the Energy Policy Act of 2005 required the extension of daylight savings time, a definitive answer as far as whether it has saved energy has not yet been found. Post resource – Daylight savings time 2011 not likely to save energy in the U.S. by MoneyBlogNewz.

Daylight saving time coming up means one less hour in the day

Everywhere in the U.S., excluding both Hawaii and Arizona, can be moving their clocks forward an hour on March thirteen at 2 a.m. for daylight conserving time 2011. Saving energy has been the rationale for daylight saving time since it was first implemented by Germany in WW1 to save coal. In theory, stretching daylight hours with daylight saving time saves energy by reducing the need for electric lighting. Several compare daylight saving time to cutting off an end of a rope and adding it to another end by manipulating clocks. Many are confused about daylight conserving time. It might help retail and outdoor recreation but farming and entertainment hate this change annually.

What power saving advantages really work?

The period of daylight saving time was extended by four weeks in 2005 with the Energy Policy Act that promoted conserving energy. There was a change to the Uniform Time Act of 1966. On March 11, 2007, the first "spring forward" started. Authors of the Energy Policy Act of 2005 claimed that stretching daylight conserving time would add up to a total power savings in the U.S. of up to 1 percent. There was a study done in Indiana with the daylight savings time change. There was actually a decrease in energy saved. Converting the entire state to daylight saving time cost Indiana households an extra $8.6 million in utility bills due to higher heating costs in the morning and higher air conditioning costs in the afternoon.

Pros and cons to Daylight Saving time there

Due to sleep deprivation, there is really a rise in heart attacks during the first week of daylight savings even though it may not conserve power. Fatal car crashes and automobile collisions with pedestrians end up going down because of daylight saving time though.

Articles cited

U.S. News and World Report

health.usnews.com/health-news/family-health/sleep/articles/2009/03/03/13-things-you-probably-didnt-know-about-daylight-saving-time

Wall Street Journal

online.wsj.com/public/article/SB120406767043794825.html

Wikipedia

en.wikipedia.org/wiki/Energy_Policy_Act_of_2005

Libya to obtain sanctions as United States closes embassy

The U.S. embassy in Libya has been forced to close. Libya is wracked by physical violence, and it was deemed too unstable to keep the embassy open. The regime of Moammar Gadhafi is fast losing its grip of the country. Deadly reprisals against Libyans have done little to quell demonstrations against his rule in excess of four decades. Economic sanctions will increase against Libya until the situation is resolved. Post resource – US embassy in Tripoli shuttered with Libya sanctions pending by MoneyBlogNewz.

Tripoli plunging into chaos as Gadhafi regime tightens grip

The regime of longtime Libyan dictator Moammar Gadhafi is fast losing control of the nation, and the capital city of Tripoli is becoming the battleground for handle of the North African country. Even with the shots fired, demonstrators have refused to leave the place even though Libyan army members nevertheless loyal to Gadhafi are firing. As a result of the escalating instability in the Libyan capital, the U.S. State Department has suspended American Embassy operations, and moved most embassy personnel out of Tripoli with a chartered ferry, in accordance with Reuters. Most workers have been evacuated already even though the embassy is nevertheless open.

Possibility of sanctions in opposition to Libya

The White House has affirmed that economic sanctions can be levied against Libya, in response to the brutal tactics used by Gadhafi in addressing the unrest in the country he has ruled for more than four decades. These sanctions will be considered in a meeting with President Obama and United Nations Secretary-General Ban Ki-moon, CNN states. All United States cooperation with military has been cut off from Libya already. Obama has previously been criticized for taking too soft a stance on the situation in Libya.

International leaders call for Gadhafi to quit

The NY Times states that International leaders have been asking that Colonel Gadhafi resign. President of France Nicolas Sarkozy said that Gadhafi needs to resign while "the world will hold you to account" was what British PM David Cameron had to say. Gadhafi has vowed to “die a martyr” and has refused to leave while alive.

Articles cited

Reuters

reuters.com/article/2011/02/25/us-libya-usa-idUSTRE71K6D520110225?pageNumber=1

CNN

cnn.com/2011/WORLD/africa/02/25/libya.us.reaction/

NY Times

nytimes.com/2011/02/26/world/middleeast/26diplomacy.html

Pediatrics group warns parents about teens and tanning beds

Mom and dad have been warned by the American Academy of Pediatrics that tanning beds put their teenage kids at a heightened risk for cancer of the skin. Teenage tanning bed use, particularly among girls, is increasing. Several studies have found a correlation between tanning bed use among the young and increased skin cancer risk. Laws barring teenagers from using indoor tanning facilities are being recommending by pediatric and dermatological groups in the U.S..

Teens getting skin cancer from tanning

The American Academy of Pediatrics made a statement on ultraviolet radiation. This suggested that teenagers, due to cancer risks, shouldn't be allowed to do any indoor tanning. The statement, published Monday in the journal Pediatrics, called for pediatricians to push for legislation prohibiting access to indoor tanning for those 18 and younger. An advisory panel to the Food and drug administration on tanning bed risks has also recommended either prohibiting the use of tanning beds by a teen outright or requiring parental consent. Anybody with a history of melanoma or kids who easily get sunburned or freckles need to be educated about UV protection, which the AAP expects parents to do.

Using a tanning bed risky for teenagers

Indoor tanning salons are used in the U.S. by many people. The American Society for Dermatologic Surgery said it was over 1 million individuals. Women and girls between the ages of 16 and 29 years old make up about 70 percent of tanning bed users. In a news release the ASDS said that melanoma is probably the most common skin cancer in kids, followed by basal cell and squamous cell carcinomas. Just six severe sunburns in a lifetime increase the risk of melanoma by 50 percent. About 35 percent of 17 year old girls will use 10 to 15 times the UV radiation than the sun produces at noon while in tanning beds, in accordance with the AAP. When indoor tanning is done before age 35, the chance of melanoma increased in seven scientific studies.

Teenagers can't use tanning beds with ban in place

There’s a good chance the Food and Drug Administration will not change requirements on teens. This is despite the tanning connection to cancer that has been brought forth. This is not typical though. Typically the panels' advice is taken and used to make decisions. Minor use of indoor tanning is regulated. About 60 percent of U.S. states have this regulation. There is no evidence that teens and skin cancer are connected, in accordance with the Indoor Tanning Association that suggests mom and dad, not the government, are responsible for making decisions on this.

Information from

U.S. News and World Report

health.usnews.com/health-news/family-health/infectious-diseases/articles/2011/02/28/pediatricians-group-backs-ban-on-tanning-booth-use-by-minors

Med Page Today

medpagetoday.com/Pediatrics/GeneralPediatrics/25085

CNN

cnn.com/2011/HEALTH/02/28/tanning.skin.cancer/

Housing costs decline, however property sales are increasing

A rise has been noted in national home sales, but real estate costs are still trending downward. The past year has been volatile for real estate, but more individuals have been consulting with loan loan providers to purchase a home. The low prices are thought to be the reason for the spike in purchases.

Homes becoming an investment

Figures for nationwide home sales from the National Association of Realtors indicate that an increasing number of individuals are purchasing homes, according to CNN. Property sales rose 2.7 percent over January 2011, to a seasonally adjusted rate of 5.36 million per year. There is also a 5.3 percent increase from January 2010 while home sales are higher than over a year ago for the first time in seven months. However, the increase might be bolstered by people who don’t need to go to loan companies to finance a property purchase. About 32 percent of sales were cash purchases. In January 2010, that was only 26 percent of homes. Sales to investors made up 23 percent of sales, which accounted for 17 percent of property sales in Jan 2010.

Foreclosures might have made up difference

The increased number of cash and investor purchases likely is because of deep discounts available on foreclosed properties. Distressed properties, in accordance with Bloomberg, accounted for 37 percent of January 2011 home sales. The very low costs have to do with the loan corporations. They do not want their spreadsheets showing too several foreclosed properties. Paying out of pocket for property values doesn't tend to take place very often. This is even for homes sold at half the worth they would be at in a great industry. The median property price has declined 3 percent since January 2010, to $158,800.

Lower property costs still

USA Today states that the metropolitan areas are having home values drop drastically. Drops occurred for almost all of the cities tracked by the Standard & Poor's Case Shiller Index. Only one of the 20 cities didn't report drops in prices. Property costs did not go down in Washington D.C. Areas with inflated real estate values such as Arizona, California and Florida have experienced the worst in drop, but southern states like Mississippi and Alabama are also experiencing price declines. Economists think that 2011 could be a year of recovery for homes with the rise in sales.

Citations

CNN

money.cnn.com/2011/02/23/real_estate/january_home_sales/index.htm

Bloomberg

bloomberg.com/news/2011-02-23/sales-of-u-s-existing-homes-climb-to-eight-month-high.html

USA Today

usatoday.com/money/economy/housing/2011-02-22-home-prices_N.htm

Wall Street bonuses shrink, however executive payment climbs

An eight percent decrease last year Wall Street bonuses from what was paid out a year earlier was reported. Bonuses in the financial services industry went the opposite direction of profits, which continued to grow. Compensation for Wall Street workers actually grew in 2010, with a greater percentage paid in base salaries instead of bonuses.

Huge Wall Street bonuses

In the financial services industry last year, the Wall Street bonuses averaged $128,530. NY State Comptroller Thomas DiNapoli explained these figures. That is an 8 % drop from the year before in Wall Street from the $140,730 average. Last year, the Total Wall Street bonuses totaled $20.8 billion which, from 2006 before the financial crisis, was $34.3 billion meaning a 33 percent drop. In 2009, the Wall Street profits were at $55 billion because of the record low interest rates and government bailouts. Second comes 2010 with profits at $27.6 billion.

Deceptiveness behind Wall Street bonuses

Wall Street executives are still being compensated. This is despite the truth that bonuses have gone down in 2010. Due to the executive compensation during the financial crisis, the public got really upset which meant smaller sized bonuses were handed out. DiNapoli explained that Wall Street financial service payment went up in 2010. It went up by 6 % total. Pay for employees have been changed by large banks. This has been due to the controversy around the large bonuses along with the financial reform regulation. Base wages are larger than bonuses now.

A brand new way taxes are prevented

In order to make the public think that compensation is given in long-term profitability instead of short-term gain, Wall Street firms are deferring some of the payment. Scaled-down bonuses make it easier for Wall Street firms to stay away from taxes too. This new way of tax deterrence was found. DiNapoli explains that the New York state tax revenues had a huge part that came from the financial sector. About 20 % was what made it up before the financial crisis. The number has gone down now. It went to 13 %. NY City’s tax revenue from Wall Street declined from 13 percent before the crisis to 7 % in 2010.

Articles cited

CNN Money

money.cnn.com/2011/02/24/news/economy/wall_street_bonus/index.htm

Wall Street Journal

blogs.wsj.com/metropolis/2011/02/24/wall-street-bonuses-dropped-in-2010/?mod=google_news_blog

NPR

npr.org/2011/02/24/134017725/wall-street-bonuses-fell-from-2009-level

Newt Gingrich states DOMA conclusion proves Obama law theory

Gingrich, the previous Speaker of the House of Representatives, isn’t happy about the recent decision in regards to the DOMA. He slammed the Obama administration for deciding not to defend the law in the courtroom. Gingrich took to the airwaves to announce his disappointment. He said the conclusion to not defend DOMA meant "Obama law" was in effect, and the constitution was not. The law is still in effect.

Law continues despite what Gingrich thinks

There are lots of angry individuals that can't determine why the Obama administration and Justice Department have not been fighting anymore the DOMA, or DOMA. All federal court cases will be dropped. Gingrich is a previous speaker of the House talked about the DOMA getting set aside by the government, states ABC. He forgot to mention that constitutional grounds led to the decision to not defend the law when saying a constitutional turmoil was about to start as the "rule of law" has been exchanged by "Obama law." He said Palin would be facing impeachment if she were elected.

All of the responses

The response by conservative members of Congress has been harsh, though not universal. The Washington Post reports that Speaker John Boehner (R-Ohio) had a spokesperson talk about how Obama should be focusing on the issue rather than economic issues like unemployment since the American people are a high priority. Eric Cantor (R-Vir.), the House Majority Whip, is said to be looking into legislative solutions, such as perhaps reducing funding to the Justice Department.

What the future presidential candidates have to say

The loudest responses have come from people possibly looking to launch a campaign for the presidency in 2012, including Gingrich. ABC reports that Massachusetts former governor Mitt Romney said that it was a mistake to stop defending Defense of Marriage Act for President Obama and Eric Holder. Former PA Senator Rick Santorum said that defending "traditional marriage" was really important. Also, both Mike Huckabee and Tim Pawlenty said they were disappointed in the conclusion. Due to statements made against homosexuals, Santorum got looked down on in his last term as Senator.

Information from

ABC News

abcnews.go.com/Politics/critics-slam-obama-doma-decision-newt-gingrich-calls/story?id=12992207&page=1

ABC News

abcnews.go.com/Politics/social-conservatives-vow-defend-doma-pressure-obama/story?id=13000776&page=2

Washington Post

washingtonpost.com/wp-dyn/content/article/2011/02/25/AR2011022502503.html