February 22, 2007

Why Bank of America Really Wants to Give Credit Cards to Illegals

Filed under: Business Moves, Immigration, Taxes & Government — TBlumer @ 1:42 pm

This point (requires subscription; para break added by me) about B of A’s targeted population is an underappreciated element in the thought processes of the Bank executives involved in the decision:

HISPANICS’ CREDIT CARDS OFFER DOUBLE-EDGED SWORD

Hispanics are using credit cards more often and revolving balances at a higher rate than other consumers, according to a new report by a Hispanic civil rights and advocacy group, the National Council of La Raza. The report found that 56% of Hispanic households use credit cards, and that nearly 77% of Hispanics carry a balance on their credit cards, compared to 45% of all credit card users. Moreover, 19.3% of Hispanics describe their credit card debt situation as “burdensome and not enough money to pay down [the balance]” and 11.4% report that they are “maxed out and can’t use [their cards].”

The report’s author, Betriz Ibarra, tells CardLine that one of the major problems with the situation is that nearly 22% of Hispanic borrowers have no credit score, which makes it difficult for them to obtain credit at favorable rates. “There are a lot of barriers to even getting a bank account for some families, which leads them to shop on the fringes where services are much costlier than mainstream service providers and it all adds up,” she says. “So when they finally are able to get a credit card they end up using it as a safety net.”

It isn’t too big of a stretch to believe that illegal Hispanics are even more likely than their legal ethnic counterparts to carry a balance (i.e., pay interest) on their cards.

Looks like racial/ethnic profiling to me. Where’s the outrage from people who claim to want to protect the interests of those who are here illegally? Is La Raza objecting to B of A’s plans? Doubtful.

Rush Nails Ted Strickland on Iraq Refugee Statement

Filed under: Taxes & Government — TBlumer @ 11:25 am

Go see it (starts at about 55 seconds; HT RAB).

Couldn’t Help But Notice (022207)

Filed under: Biz Weak, Business Moves, MSM Biz/Other Ignorance, Taxes & Government — TBlumer @ 6:19 am

According to a subscription-only Biz Weak “Upfront” snippet (8th item at link), suburban Cincinnati’s Butler County Child Support Enforcement Agency is providing three local pizza delivery companies with “Wanted” posters of non-child-support-paying parents for whom criminal warrants have been issued.

This is better coverage than the story was given by the Cincinnati Enquirer two weeks ago at the time of the original announcement. The Enky left out the “criminal warrants” part, which has to be seen as a pretty significant oversight.
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From the “It’s Your Fault” Department

SEATTLE - Microsoft Corp. Chief Executive Steve Ballmer said Thursday analysts’ forecasts for revenue from Windows Vista in fiscal 2008 were “overly aggressive.”

Ballmer’s comments come two weeks after the world’s largest software maker released Vista, the upgrade to its ubiquitous Windows operating system, and predicted that consumers will move to Vista faster than past Windows upgrades.

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I know better than to offer an opinion on this.

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Okay, so the enemy of my enemy is supposed to be my friendBut here is a case where someone pretending to be my friend is cozying up to my enemies. Very sad to say after all these years, but I think that makes him my enemy too.

Quick Thoughts the Hillary-Geffen-Barack Hussein Obambi Obama Food Fight

Filed under: Taxes & Government — TBlumer @ 6:14 am

Now THAT’s entertainment! (HT Lucianne)

And to think that Maureen (”Hillzilla vs. Obambi“) Dowd is the reporterette (requires TimeSelect, and no, I don’t have it) in all of this.

Some ‘Clarification’

Filed under: MSM Biz/Other Bias, Taxes & Government — TBlumer @ 6:09 am

I don’t think the Associated Press would let a Republican Governor skate by calling the following, coming on the heels of earlier remarks saying exactly the opposite, a “clarification”:

COLUMBUS – Gov. Ted Strickland said he would welcome Iraqi refugees to Ohio, clarifying earlier remarks about wanting President Bush to leave the state out of a plan to relocate those displaced by war to the U.S.

Strickland said Monday that he was trying to express his frustration with the Bush administration and the Iraq war, which the Democratic governor opposed while he was serving in the U.S. House.

“It’s one of those incidents out of many (when) I’ve said something inartfully and conveyed something that I did not wish to convey,” said Strickland, elected Nov. 7 and sworn in last month. “I guess it means that when you’re a governor, people seem to be interested in what you say, which is fine, but I think everything has a context.”

….. “It is true that Ohio has paid a big burden,” said Strickland, who wouldn’t decide where refugees locate. “I was expressing frustration about all this, but I don’t think I came across as a very nice person.”

No kidding, Ted.

Once again, a politician blows a chance at recovery by failing to say the six magic words: “I was wrong; I am sorry” (there’s no apology here either). But, as noted, the press, which would be demanded an “apology” from a GOP governor, is letting him skate. They think they’re doing him a favor, and maybe they are — this time.

If You’re Going to Rob a Bank ….

Filed under: Taxes & Government — TBlumer @ 6:04 am

….. try not to do it during a heavy traffic period:

WEST CHESTER (OH) TWP. — Police closed the intersection of Union Centre Boulevard and Muhlhauser Road for several minutes Friday as they conducted a car-to-car search for a bank robbery suspect.

Daniel B. Ripperger, 36, of 3203 Midway Apt. 1, Cincinnati, was arrested after officers spotted him sitting inside his 2000 Ford Ranger stopped in traffic.

….. West Chester Twp. police Lt. David Tivin said police stopped traffic at the intersection of Union Centre Boulevard and Muhlhauser Road in an attempt to head off the fleeing robber.

“Due to the amount of traffic, it was an opportunity for our officers,” said Tivin.

Positivity: George Washington and a Little-Known Turning Point in American History

Filed under: Positivity — TBlumer @ 5:59 am

Few know that George Washington singlehandedly prevented a soldiers’ revolt in 1783.

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(from historyplace.com)

At the close of the Revolutionary War in America, a perilous moment in the life of the fledgling American democracy occurred as officers of the Continental Army met in Newburgh, New York, to discuss grievances and consider a possible insurrection against the rule of Congress.

They were angry over the failure of Congress to honor its promises to the army regarding salary, bounties and life pensions. The officers had heard from Philadelphia that the American government was going broke and that they might not be compensated at all.

On March 10, 1783, an anonymous letter was circulated among the officers of General Washington’s main camp at Newburgh. It addressed those complaints and called for an unauthorized meeting of officers to be held the next day to consider possible military solutions to the problems of the civilian government and its financial woes.

General Washington stopped that meeting from happening by forbidding the officers to meet at the unauthorized meeting. Instead, he suggested they meet a few days later, on March 15th, at the regular meeting of his officers.

Meanwhile, another anonymous letter was circulated, this time suggesting Washington himself was sympathetic to the claims of the malcontent officers.

And so on March 15, 1783, Washington’s officers gathered in a church building in Newburgh, effectively holding the fate of democracy in America in their hands.

Unexpectedly, General Washington himself showed up. He was not entirely welcomed by his men, but nevertheless, personally addressed them…

Gentlemen:
By an anonymous summons, an attempt has been made to convene you together; how inconsistent with the rules of propriety, how unmilitary, and how subversive of all order and discipline, let the good sense of the army decide…

Thus much, gentlemen, I have thought it incumbent on me to observe to you, to show upon what principles I opposed the irregular and hasty meeting which was proposed to have been held on Tuesday last - and not because I wanted a disposition to give you every opportunity consistent with your own honor, and the dignity of the army, to make known your grievances. If my conduct heretofore has not evinced to you that I have been a faithful friend to the army, my declaration of it at this time would be equally unavailing and improper. But as I was among the first who embarked in the cause of our common country. As I have never left your side one moment, but when called from you on public duty. As I have been the constant companion and witness of your distresses, and not among the last to feel and acknowledge your merits. As I have ever considered my own military reputation as inseparably connected with that of the army. As my heart has ever expanded with joy, when I have heard its praises, and my indignation has arisen, when the mouth of detraction has been opened against it, it can scarcely be supposed, at this late stage of the war, that I am indifferent to its interests.

But how are they to be promoted? The way is plain, says the anonymous addresser. If war continues, remove into the unsettled country, there establish yourselves, and leave an ungrateful country to defend itself. But who are they to defend? Our wives, our children, our farms, and other property which we leave behind us. Or, in this state of hostile separation, are we to take the two first (the latter cannot be removed) to perish in a wilderness, with hunger, cold, and nakedness? If peace takes place, never sheathe your swords, says he, until you have obtained full and ample justice; this dreadful alternative, of either deserting our country in the extremest hour of her distress or turning our arms against it (which is the apparent object, unless Congress can be compelled into instant compliance), has something so shocking in it that humanity revolts at the idea. My God! What can this writer have in view, by recommending such measures? Can he be a friend to the army? Can he be a friend to this country? Rather, is he not an insidious foe? Some emissary, perhaps, from New York, plotting the ruin of both, by sowing the seeds of discord and separation between the civil and military powers of the continent? And what a compliment does he pay to our understandings when he recommends measures in either alternative, impracticable in their nature?

I cannot, in justice to my own belief, and what I have great reason to conceive is the intention of Congress, conclude this address, without giving it as my decided opinion, that that honorable body entertain exalted sentiments of the services of the army; and, from a full conviction of its merits and sufferings, will do it complete justice. That their endeavors to discover and establish funds for this purpose have been unwearied, and will not cease till they have succeeded, I have not a doubt. But, like all other large bodies, where there is a variety of different interests to reconcile, their deliberations are slow. Why, then, should we distrust them? And, in consequence of that distrust, adopt measures which may cast a shade over that glory which has been so justly acquired; and tarnish the reputation of an army which is celebrated through all Europe, for its fortitude and patriotism? And for what is this done? To bring the object we seek nearer? No! most certainly, in my opinion, it will cast it at a greater distance.

For myself (and I take no merit in giving the assurance, being induced to it from principles of gratitude, veracity, and justice), a grateful sense of the confidence you have ever placed in me, a recollection of the cheerful assistance and prompt obedience I have experienced from you, under every vicissitude of fortune, and the sincere affection I feel for an army I have so long had the honor to command will oblige me to declare, in this public and solemn manner, that, in the attainment of complete justice for all your toils and dangers, and in the gratification of every wish, so far as may be done consistently with the great duty I owe my country and those powers we are bound to respect, you may freely command my services to the utmost of my abilities.

While I give you these assurances, and pledge myself in the most unequivocal manner to exert whatever ability I am possessed of in your favor, let me entreat you, gentlemen, on your part, not to take any measures which, viewed in the calm light of reason, will lessen the dignity and sully the glory you have hitherto maintained; let me request you to rely on the plighted faith of your country, and place a full confidence in the purity of the intentions of Congress; that, previous to your dissolution as an army, they will cause all your accounts to be fairly liquidated, as directed in their resolutions, which were published to you two days ago, and that they will adopt the most effectual measures in their power to render ample justice to you, for your faithful and meritorious services. And let me conjure you, in the name of our common country, as you value your own sacred honor, as you respect the rights of humanity, and as you regard the military and national character of America, to express your utmost horror and detestation of the man who wishes, under any specious pretenses, to overturn the liberties of our country, and who wickedly attempts to open the floodgates of civil discord and deluge our rising empire in blood.

By thus determining and thus acting, you will pursue the plain and direct road to the attainment of your wishes. You will defeat the insidious designs of our enemies, who are compelled to resort from open force to secret artifice. You will give one more distinguished proof of unexampled patriotism and patient virtue, rising superior to the pressure of the most complicated sufferings. And you will, by the dignity of your conduct, afford occasion for posterity to say, when speaking of the glorious example you have exhibited to mankind, “Had this day been wanting, the world had never seen the last stage of perfection to which human nature is capable of attaining.”

This speech was not very well received by his men. Washington then took out a letter from a member of Congress explaining the financial difficulties of the government.

After reading a portion of the letter with his eyes squinting at the small writing, Washington suddenly stopped. His officers stared at him, wondering. Washington then reached into his coat pocket and took out a pair of reading glasses. Few of them knew he wore glasses, and were surprised.

“Gentlemen,” said Washington, “you will permit me to put on my spectacles, for I have not only grown gray but almost blind in the service of my country.”

In that moment of utter vulnerability, Washington’s men were deeply moved, even shamed, and many were quickly in tears, now looking with great affection at this aging man who had led them through so much. Washington read the remainder of the letter, then left without saying another word, realizing their sentiments.

His officers then cast a unanimous vote, essentially agreeing to the rule of Congress. Thus, the civilian government was preserved and the young experiment of democracy in America continued.