Tag Archive | "Year"
Tags: Insurance, Olds, Temporary, Year
Temporary Car Insurance For 21 Year Olds
Posted on 25 December 2010 by admin
Tags: Insurance, Olds, Temporary, Year
Temporary Car Insurance For 21 Year Olds
Posted on 25 December 2010 by admin
Tags: Insurance, Olds, Temporary, Year
Temporary Car Insurance For 21 Year Olds
Posted on 23 December 2010 by admin
Tags: Insurance, OldsDebt, Relief, Solutions, Temporary, Year
Temporary Car Insurance For 21 Year Olds-Debt Relief Solutions
Posted on 23 December 2010 by admin
Debt Relief Solutions
Debt Relief Solutions
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Debt Consolidation > Debt Relief Solutions
Debt Relief Solutions
Posted: Mar 24, 2010 |Comments: 0
|
]]>
U.S. consumer debt is at approximately ,900 per household, nearly double what it was ten years ago. Consumer debt today equals 132% of the average household’s annual disposable income. Many families are looking for solutions to their mounting burden of debt. There are essentially two major avenues for relief – non-bankruptcy options and then bankruptcy.
Non-Bankruptcy Debt Relief Solutions
Liquidating assets. This is the most commonly used non-bankruptcy debt relief solution. Because it is easy, many people invade their retirement accounts but there are often tax implications for early withdrawals. Refinancing a house and using the equity to repay other debt is another popular option. But of course you must pay for it plus interest plus any refinancing fees over a 20 or 30 year period.
Credit card cash advances and balance transfers. These are often readily available options but at high interest rates. Too often these solutions are only temporary and if a person’s spending habit hasn’t changed, those individuals will find themselves right back in the same situation of too much debt and too little cash.
Credit counseling. Credit counseling is a surging industry that has come under scrutiny because many of the outfits function like glorified collection agencies, receiving fees from clients’ creditors on recovered debts. Success is low and the payments often exceed what people can afford on a monthly basis. Another issue is creditor participation – not all creditors will participate. Here are some tips if you are considering going this route:
If you are considering credit counseling, make sure you do it face-to-face. Do not provide a voice over the phone with all of your important information. These days, you can not even be sure that the voice on the phone is even in the United State.
Ask the credit counseling company if they can assure that all of your creditors will participate. If you have a creditor that is not covered then you have a debt that will have to be settled outside of the credit counseling plan.
Make sure that you can pay both the credit counseling amount plus the amounts you might have to pay outside of the plan.
The credit counseling alternative will not address payday loans, secured debts and old liabilities which are in collection.
Credit counseling will be reflected in your credit report and will impact your credit rating.
Negotiated settlement with creditors. This could take the form of a reduction in principal for a lump sum payment or simply extended payment terms. The risk in this strategy is your creditors taking damaging actions against you before you have time to amass sufficient cash to pay your creditors the settlement amount. Proceed with caution and hire a bankruptcy attorney to assist you. A reduced principal settlement can have possible tax implications. If negotiating extended payments be mindful of the interest rate and know when the debt will be fully satisfied. Insure that you are dealing with someone who has the authority to negotiate a settlement with you. Be certain that all of the debt is settled and released whether through a lump sum payment or extended terms.
Loss mitigation and loan modifications are debt relief options for mortgages. Loss mitigation works to either relieve the homeowner of the mortgage obligation or create a mortgage resolution that is financially feasible for the homeowner. Loss mitigation options include:
Loan modification: This option modifies a homeowner’s mortgage and both the lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate, reducing the principal balance, ‘fixing’ adjustable interest rates, increasing the term of the loan, forgiveness of payment defaults and fees, or any combination of these.
Short sale: This option is made possible by a lender agreeing to accept a payoff that is less than the principal balance of a homeowner’s mortgage which in turn permits the homeowner to sell the home for the actual market value of the home. This applies to homeowners with a mortgage balance greater than the market value of the property. Without such an agreement the homeowner would not be able to sell the home. There can be, and usually are, tax consequences to these deals as well as harmful effects on one’s credit rating.
Short refinance: This option is possible when a lender reduces the principal balance of a mortgage so that the homeowner can refinance with a new lender. The reduction in principal must be sufficient enough to meet the loan-to-value guidelines of the new lender making refinancing possible. Tax and credit consequences are the same as with short sales.
A deed in lieu of foreclosure: An option whereby a mortgagor voluntarily deeds over the collateral property in exchange for a release from all mortgage obligations. This is extremely damaging to credit ratings.
Forbearance: This is an arrangement that allows the homeowner to make no monthly payment or make a reduced monthly payment for some period of time. Sometimes, the lender will ask that the reduced or missed payments be repaid when the forbearance has been finished while other times the lender will just modify the loan.
Bankruptcy
Simply put, bankruptcy is the legal forgiveness of debts. The bankruptcy laws changed in 2005 but you can still file. It is a bit more complicated now which makes it even more important than ever before to be represented by a http://www.bolemanlaw.com title=”Boleman Law Firm”>bankruptcy lawyer or expert legal counsel that specializes in bankruptcy.
There are two types of personal bankruptcy, Chapter 7 and Chapter 13.
Chapter 7. This is known as the “complete or straight bankruptcy.” In Chapter 7, a debtor turns over his non-exempt property to a bankruptcy trustee who liquidates the property and distributes the proceeds to the unsecured creditors. The debtor is granted a discharge of some debt; however, certain debts (e.g. spousal and child support, student loans, some taxes) will not be discharged. The amount of property that a debtor may exempt varies from state to state. From beginning to end, the typical Chapter 7 bankruptcy will last about six (6) months.
The typical person filing Chapter 7 will have
a large amount of unsecured debt [i.e., payday loans, medical debt, and credit card debt];
no car loan;
no mortgage or does not wish to keep the home;
no tax debt; and
have little or no assets or income.
A Chapter 7 bankruptcy remains on one’s credit report for 10 years. Chapter 7 relief is available once in any eight year period.
Chapter 13. This is known as the “wage earner plan.” It enables debtors to retain their assets and make monthly payments for part of the debt to creditors over a 36 to 60 month period. The amount and the time of the repayment plan depend upon a variety of factors, including the value of the debtor’s property and his income and living expenses. Secured creditors may be entitled to greater payment than unsecured creditors but debtors get to keep the collateral and often pay less than owed on the obligation.
The typical person filing Chapter 13 may be:
behind on the mortgage and wants to keep the house;
about to have or are already having their wages garnished and want the garnishment to stop and even possibly get some or all of the garnished wages back;
behind on the car note and want to keep the car or they are seeking the return of a repossessed vehicle;
owing taxes to the IRS or the State. Taxing authorities must immediately stop penalties and interest on your account as soon as a bankruptcy has been filed.
Unlike in a Chapter 7, a Chapter 13 filer may keep all of his property, whether or not it is exempt. If the plan appears feasible to the trustee it will typically get confirmed and the debtor and creditors will be bound by its terms. Generally, the payments are made to a trustee who then distributes the funds according to the terms of the confirmed plan.
When the debtor makes all payment as detailed in the plan, the Court will grant the debtor a discharge of the debts listed in the plan. However, if the debtor does not make the agreed upon payments, the Bankruptcy Court can dismiss the case. Upon dismissal, creditors will likely pursue legal remedies to the extent a debt is unpaid. A Chapter 13 bankruptcy remains on one’s credit report for up to seven years after filing a case.
When should you consider bankruptcy?
If you have been served with lawsuit, judgment or possible garnishment.
If you are considering liquidating assets, refinancing you home, or cashing in your 401k to take care of certain financial matters.
If you are behind on your mortgage payments. Also if you have a foreclosure pending or intent to foreclose has been issued by the lender.
If your vehicle has been repossessed or you fear your vehicle will be repossessed very soon.
If you owe money to a taxing authority.
If calls from creditors and/or collection agencies are causing you and your family stress.
The down side to bankruptcy is the impact on your credit score, however, even after filing bankruptcy, if you make timely payments to creditors, within 18 to 24 months, your credit score should significantly improve itself so that you do not have to rely on sub-prime lenders and you should receive more favorable interest rates on loans. The upside to bankruptcy as a debt relief solution is that you get a fresh start without the burden of some or all of your debt.
Retrieved from “http://www.articlesbase.com/debt-consolidation-articles/debt-relief-solutions-2040619.html”
(ArticlesBase SC #2040619)
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
L Edge -
About the Author:
]]>
Questions and Answers
Ask our experts your Debt Consolidation related questions here…200 Characters left
If government grants are available to anyone in debt without the capacity to repay those debts, why do debt relief companies require a certain amount of weekly income to be eligible for g’nt grants
I have over 50,000.00 in credit card debt. I am trying to find a legitimate debt relief company to assist me. I do not want to file for bankrupcy. Can you help please? I feel like I am drowning
I have been looking to open a bank account in panama and i have been reading that the best way is to go through a law firm located in panama. Is this a good idea. Also is panama legal a reputable firm
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/debt-consolidation-articles/debt-relief-solutions-2040619.html
Article Tags:
bankruptcy attorney, bankruptcy lawyer, bankruptcy law firm, debt relief agency
Latest Debt Consolidation Articles
More from L Edge
How to Deal with Debt Collectors
Learn how to deal with debt and debt collectors by consolidating. (03:58)
How to Find Out Your Debt Collecting Rights
Find out a few rules and regulations about how debt collectors can treat you. (04:42)
Learn about the biggest mistakes you should be avoiding when dealing with debt. (06:14)
How to Talk About Your Debt Record
Learn who to talk to about your debt before talking to your money lender. (02:56)
The Effects Of Personal Bankruptcy On Your Credit
Markita Aldridge discusses personal finance and how does personal bankruptcy affect your credit (01:01)
Arm Yourself with a Tax Lawyer to Obtain IRS Debts Relief
There are various firms that are capable of providing chargeable taxpayers with the IRS tax debt settlement help they need. Some of these firms are actually tax law firms, while some are companies with tax experts that assist with IRS back taxes. These firms are fundamentally staffed with IRS tax attorneys, CPAs, enrolled agents, and even previous IRS employees. These people have the ability and wisdom on how to successfully guarantee a tax debt settlement offer from the IRS. One of th…
By:
Kennith Mcmahonl
Businessl
Oct 18, 2010
CC Brown Law – How to hire a Bankruptcy Attorney
There are three basic ways you can go about finding a bankruptcy attorney in your area.
By:
ccbrownlawl
Business>
Managementl
Oct 14, 2010
ABC of Hiring a St. Louis Bankruptcy Attorney
If you are in or around St. Louis having financial problems, you should consider filing for bankruptcy.
By:
Ender Gibson07l
Law>
National, State, Locall
Dec 18, 2010
Find out where consumers go wrong with there debt troubles. Avoid the many mistakes many Americans make when faced with financial hardships.
By:
Colel
Finance>
Debt Consolidationl
Aug 07, 2008
When to Hire a Chapter 13 Bankruptcy Attorney
Obtaining help from a Chapter 13 bankruptcy attorney used to be an easy process. Today, it can be difficult for bankruptcy petitioners to obtain legal counsel due to new guidelines set forth in the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005.
By:
Simon Volkovl
Finance>
Personal Financel
Oct 20, 2010
Debt Settlement Attorneys – A Legal Way To Eliminate Debt And Avoid Bankruptcy
Not all debt settlement companies are attorney based. These companies should be avoided at all cost. Without legal representation, consumers can not be assured that their debts will actually settle.
By:
arnoldfraizerl
Finance>
Debt Consolidationl
Oct 22, 2010
Understanding Minnesota Bankruptcy and Hiring Minnesota Bankruptcy Attorney
Let us first throw some light on Minnesota Bankruptcy and then discuss hiring Minnesota Bankruptcy Attorney. If we will do some effort in gathering some information about Minnesota Bankruptcy laws etc it will be easier to take a decision about hiring Minnesota Bankruptcy Attorney
By:
Groshan Fabiolal
Finance>
Personal Financel
Oct 27, 2008
Debt Management Tricks to Deal with Personal Debt Problems
Debt problems affect millions of people psychologically, physically and emotionally. Debt management solutions offer some of the best tricks to deal with personal debt problems.
By:
ajaxl
Finance>
Debt Consolidationl
Dec 23, 2010
Why Debt Settlement is a Bad Option
Debt settlement is considered a good alternative to bankruptcy, but is it really that good? Find out the answer from debt management services.
By:
ajaxl
Finance>
Debt Consolidationl
Dec 22, 2010
Eliminate Unsecured Debt Fast – Get Rid Of Medical Debt Quickly
Why is it inadvisable to opt for bankruptcy to overcome your medical debt problems? For starters, your medical need is not your fault. Can you be blamed for getting cancer? Or a heart attack? Of course, if you did not take care of your health and had an irresponsible in your lifestyle, you may be blamed for the same. However, if you taking preventive measures and if you are making sure you stay healthy but still ended up with an accident or disease, then whose fault is it?
By:
Alice Johnsonl
Finance>
Debt Consolidationl
Dec 22, 2010
Easy Way To Eliminate Credit Card Debt Fast – How To Get Out Of Debt Quickly
Nowadays it is very common that a lot of people have a lot more credit card debt that they cannot afford. In fact this has become an epidemic in itself. Over the past couple years the amount of people that are buried in credit card debt have slowly increased by two fold and need to find an easy way to eliminate credit card debt fast.
By:
Alice Johnsonl
Finance>
Debt Consolidationl
Dec 22, 2010
Eliminate Credit Card Debt Fast -l Debt Relief to Eliminate All your bills Fast
Lenders can no longer just play hard ball with credit card borrowers. Doing so will be bad for business in the long run as those borrowers could decide to really live a stringent lifestyle and live solely on cash, according to their financial means. Then the credit card companies will no longer be able to make money collecting interests, penalties and late charges from you and if you are in debt you can get help to eliminate credit card debt fast and for good.
By:
Alice Johnsonl
Finance>
Debt Consolidationl
Dec 22, 2010
Debt-Consolidation: Getting Out Of Debt
Debt consolidation has many benefits including helping you to get out of debt. You may be surprised just what debt consolidation can do for you!
By:
Erik S Heyll
Finance>
Debt Consolidationl
Dec 22, 2010
Consolidate-Debt: Why It Is Important
Find out why debt consolidation is so important. You may be surprised what it can do for you!
By:
Erik S Heyll
Finance>
Debt Consolidationl
Dec 22, 2010
Consolidate Debt: The True Purpose
Find out the true purpose of debt consolidation. You may be surprised what debt consolidation can do for you!
By:
Erik S Heyll
Finance>
Debt Consolidationl
Dec 22, 2010
Hiring Roofing Contractors to Fix Hail Damage in Phoenix and Scottsdale, Arizona
If your roof was damaged by the October 5th hail storm in Phoenix & Scottsdale, AZ, you’re probably wondering about roof repairs and to which of the many area roofing companies you should place your trust. Read more about roof repair and fixing hail damage to your home’s roof.
By:
L Edgel
Home Improvement>
Constructionl
Dec 16, 2010
Lifting the Financial Burden of Cancer
Cancer patients frequently endure treatments that dramatically impair their ability to financially support their families. Patients often incur significant medical debts, and they use credit cards to supplement their income and pay for medications. This added financial stress is harmful in their battle to overcome disease
By:
L Edgel
Law>
Bankruptcyl
Aug 07, 2010
Six Tips on Interviewing a Bankruptcy Lawyer
Choosing a competent bankruptcy lawyer is essential to getting a fresh financial start. Most good bankruptcy lawyers do not charge for an initial meeting. During the first meeting, the lawyer should be able to assess your financial situation, understand your goals & outline options that are available to you. You want to determine if you & the lawyer communicate well. Also, at the end of the meeting you want to have confidence that your case will be professionally handled with care & competence.
By:
L Edgel
Law>
Bankruptcyl
Jul 09, 2010
Recovering from a bankruptcy takes some time and some work on your part but is easier than you might imagine. After a bankruptcy, you probably think it will be almost impossible to obtain anything on credit or qualify for a loan ever again. The fact is that with on-time payments you can qualify for a credit card or a loan with a reasonable interest rate in as little as 12 months.
By:
L Edgel
Law>
Bankruptcyl
May 27, 2010
There are two basic types of personal bankruptcy, Chapter 7 and Chapter 13. The laws changed in 2005 and now certain conditions must be met before filing for bankruptcy under either chapter.
By:
L Edgel
Law>
Bankruptcyl
Apr 23, 2010
How To Choose A Good Bankruptcy Lawyer
The one thing that is worse than filing bankruptcy is hiring the wrong lawyer to handle your case. Finding an experienced, competent and expert bankruptcy attorney can make a huge difference to your future financial situation. Choosing the right lawyer or firm is important to your reclaiming your financial life.
By:
L Edgel
Law>
Bankruptcyl
Mar 24, 2010
U.S. consumer debt is at approximately ,900 per household, nearly double what it was ten years ago. Consumer debt today equals 132% of the average household’s annual disposable income. Many families are looking for solutions to their mounting burden of debt. There are essentially two major avenues for relief – non-bankruptcy options and then bankruptcy.
By:
L Edgel
Finance>
Debt Consolidationl
Mar 24, 2010
A warrant is a piece of paper signed by a judge giving law enforcement officers permission to enter a home or other building to do a search or make an arrest. A search warrant allows law enforcement officers to enter the place described in the warrant to look for and take items identified in the warrant. An arrest warrant allows law enforcement officers to take you into custody.
By:
L Edgel
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
L Edge has 9 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
Tags: Insurance, OldsCurse, Temporary, Year
Temporary Car Insurance For 21 Year Olds-Curse of the Dow
Posted on 20 December 2010 by admin
Curse of the Dow
Curse of the Dow
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Investing > Curse of the Dow
Curse of the Dow
Posted: Jun 08, 2009 |Comments: 0
|
]]>
When General Motors filed for bankruptcy protection this past week, its 83-year tenure as a fixture within the Dow Jones Industrial Average also came to an end. Faced with the abrupt passing of an economic icon, the stock market rallied; a classic case of selling the rumor (fear of the unknown) and buying the news (increased knowledge of the future). This works in the reverse for good news.
Citigroup’s account in the DOW was also closed by Dow Jones. Replacements Cisco Systems (CSCO) and Travelers (TRV) have been given a mixed blessing, however, because over the last decade when stocks are added to the Dow it has generally coincided with a top in the stock’s price.
Meanwhile, a number of Chinese small-caps in our Consensus system have recently caught the fancy of investors, among them China Green Agriculture (CGA), which makes a special type of fertilizer you never heard of, but need to know about. Fluor (FLR) is a beaten down global infrastructure play that garnered more than billion of new orders in the most recent quarter. Lastly, we profile Satyam Computer Services (SAY), a fallen angel we think is worth a gamble.
Detail
One by one, the icons of the economic hegemony of the West are toppling. The collapse of the Twin Towers was a literal tragedy, but also a symbolic event that marked the end of the myth of the invulnerable West. The implosion of the top-tier brokerages in 2008 cracked the financial foundations not only of Wall Street, but also revealed a pervasive Ponzi-like debt structure that has crippled many mainstream institutions.
This past week, the wheels came off the enterprise that for much of the 20th century was the world’s largest and most profitable. When General Motors filed for bankruptcy protection on Monday, however, the market rallied on the news. More about that in a minute.
Government Motors
General Motors has been the world’s largest car maker since 1932. As the U.S. government will own 60% of the downsized company and Canada will own 11%, the moniker Government Motors is likely to stick. Clearly the “bankruptcy” is being handled with kid gloves. It is actually part divestiture and restructuring, part nationalization and part bailout, as it will cost taxpayers around billion.
One reason the market was able to rally in the face of the GM bankruptcy (apart from having correctly anticipated it) is that although automotive manufacturing accounts for the majority of manufacturing jobs in the U.S. (4.5 million), manufacturing per se has played a declining role in the U.S. employment picture over the last 30 years. Between 1979 and 2009, U.S. industrial output doubled, but manufacturing labor dropped from 21% of the total to just 9%.
The auto industry is still a key player in the economy, indirectly accounting for perhaps 4 jobs for every position in the industry itself, but in terms of value added, the automotive sector in the U.S. now contributes just 5.5% of total industrial output.
A more important measure of economic health for the U.S. is the Institute for Supply Management’s index of service-related businesses, which make up almost 90% of the economy. The monthly report was issued this week and indicates virtually no improvement in May compared to April. So why is the market rallying in the face of GM’s temporary demise and a dearth of hard data supporting the green shoot hypothesis?
Old News
The simple answer is that the stories that make the headlines are mostly old news to the market. What does the market really pay attention to? The future. In testimony before Congress this week, Fed Chairman Bernanke said he expects “some growth” to return later this year. According to a survey by Bloomberg, most economists agree with the Fed chief and expect the U.S. GDP to expand 0.5% as early as next quarter. This is the “news” the market is trading on. It buys the rumor and sells the facts when the story is positive; it sells the negative rumor and buys the news when the bad news finally arrives. Is this efficient? Perhaps. It is certainly human.
When GM’s bankruptcy was finally confirmed, however, some wheels did turn. Richard Thompson, the editor-in-chief of Dow Jones, quietly announced that GM would be removed from the Dow Jones Industrial Average after 83 years of membership. Only General Electric, which was added in 1907, has been in the venerable index longer.
Curse of the Dow
GM is being replaced in the Dow Jones Industrial average by network hardware maker Cisco (CSCO), not by another auto company such as Ford or Toyota. With respect to the latter company, Mr. Thompson may have missed an opportunity to diversify the index even further by including a foreign-based company that has extensive operations in the U.S. Given that GM is going to be selling its Hummer division to a Chinese car maker, such a move could be viewed as prescient. We certainly expect to see more distressed asset sales to foreign-based companies over the next few years.
But let’s not cry for Toyota. In the last decade, the invitation to join the exclusive Club of Thirty has more often than not marked a significant top in the stock price of the favored company.
Both Microsoft and Intel were plugged into the DJIA in November of 1999 and are now trading far below those levels even after the strongest stock market rally in 75 years. American International Group was added in 2004, never rose much higher and is now 98% below the premium price at which it was added. Pfizer was injected into the DJIA in 2004, which marked a top in Pfizer’s shares. PFE is now 66% lower and bleeding. Bank of America (BAC) became an accredited member in February of 2008, just at the beginning of its historic slide. Shares are now discounted 75%, even after the bounce from the March lows. Kraft Foods was assimilated in September of 2008 and so far that month has marked its peak in price.
But there’s more. In an ironic tortoise and hare tale, Citigroup is also being delisted from the DJIA and will be replaced by Travelers. Citigroup ejected Travelers via a spin off in 2002, as CEO Sandy Weil deemed the stodgy insurance business a leaden liability in his race to conquer the banking world. At first, Weil seemed to have made a savvy choice, as Citigroup shares scampered to a double over the next four years, whereas Travelers’ barely crawled ahead. In the end, however, TRV has a positive net increase today compared to 2002, whereas shares of Citigroup are down 97%. In the end, the spurned tortoise had the last laugh.
Retrieved from “http://www.articlesbase.com/investing-articles/curse-of-the-dow-960025.html”
(ArticlesBase SC #960025)
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
Gregory Spear -
About the Author:
Spear Finance offers a variety of financial articles, from an overview of the stock market, to ETFs and Options. www.spearfinance.com
Questions and Answers
Ask our experts your Investing related questions here…200 Characters left
How many people are employed by general motors ?
What is the Dow Jones Industrial Average?
]]>
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/investing-articles/curse-of-the-dow-960025.html
Article Tags:
gm, general motors, cisco, csco, travelers, trv, auto industry
Latest Investing Articles
More from Gregory Spear
Warhammer 40,000: Dow II- Last Stand DLC Dev Diary
Developed by award-winning studio Relic Entertainment, The Last Stand is an all-new cooperative survival mode that gives gamers control of an individual hero unit and drops a small multiplayer team into a battle with impossible odds. (03:27)
Warhammer 40,000: Dawn of War II – Chaos Rising Dev Diary
In this video, Lead Designer Daniel Kading from Relic Entertainment walks us through the new content featured in Chaos Rising’s single player campaign. (04:48)
Warhammer 40,000: Dawn of War II – Chaos Rising Teaser
The Blood Raven Space Marines will square off against their mortal enemies, the Chaos Space Marines in Warhammer 40,000: Dawn of War II – Chaos Rising. (01:01)
New Taiwanese Flexible OLED Screen Prototype
A flexible, color OLED screen suitable for next-generation portable and wearable devices was unveiled on Thursday by Taiwan’s Industrial Technology Research Institute. (01:00)
Learn about the dow in this series of financial advice videos. (01:21)
Features Of Spread Betting And Stamp Duty
If you’re already conscious of the benefits of stock trading in the physical market as well as its inconveniences, then its natural that you may also be seeking to find alternate trading choices that allow you to get more bang for your buck and without some of the inconveniences associated with physical stock market trading.
By:
Sharon Dawkinsl
Finance>
Investingl
Dec 20, 2010
What Are Electronic Communication Networks (ECN)?
Common article about Electronic Communication Networks and their advantages/disadvantages for individual investors. Short overview of existing ECNs.
By:
Liaml
Finance>
Investingl
Dec 20, 2010
Fixed deposit offers safe investment avenue
People like their money to grow. They may want to do this for meeting their needs in future, for countering the inflation, for effecting savings and for many other purposes.
By:
Term Depositl
Finance>
Investingl
Dec 20, 2010
High-Frequency Trading Guide – Retail Investments
Investment banks, hedge funds and institutional investors are high-frequency trading as a way to automate things by the power of fast computers, usually to allow for transactions of a large amount of orders at a record pace.
By:
JasonKeithl
Finance>
Investingl
Dec 20, 2010
Structured Trades and its Applicability in Diversified Retail Portfolios
Technological innovations in the financial world as well as a spike in the investor class changed the quite retail investment world. Structured trades are notable additions to retail and institutional portfolios. In our today’s world,
By:
JasonKeithl
Finance>
Investingl
Dec 20, 2010
Oil is a vital, strategic material; any change in its price or supply has an impact on almost every aspect of peoples’ lives. Oil, along with the other fossil fuels (coal and natural gas) account for 90 percent of the energy used in industrial countries and 75 percent of the energy worldwide.
By:
tarryl
Finance>
Investingl
Dec 20, 2010
Investing in the right sectors at the right time is the prerequisite to getting the best return on the investments that you make during your working life.
By:
James Florianl
Finance>
Investingl
Dec 20, 2010
Getting Returns From Stocks In India
Nurturing big dreams of making big money from stocks in India? Cultivating dreams is no doubt healthy but right from the beginning if you think of making big money it is very likely that your dreams may get shattered. As beginners in the NSE and BSE stock market, cautiousness should be well harbored. Start the small way as there are a lot of intricacies involved
By:
Nirmal Kumarl
Finance>
Investingl
Dec 20, 2010
There is an adage on Wall Street that goes, “Don’t fight the Fed.”
It arose because the Fed has traditionally used monetary policy as the accelerator and brake pedals to manage inflationary forces in the economy. When the Fed was generously opening the throttle, bullish animal spirits on the Street were supported, but when the Fed was applying the brakes to temper inflation and cool down the economy, rising rates created a headwind for stocks, as well.
Looking back, those were the good ol’ days.
By:
Gregory Spearl
Finance>
Investingl
Sep 29, 2009
Still Testing the 200-Day Moving Average
Markets can fall of their own weight, even as they look for a reason to rally. This one was doing just that on June 8th when Nobel Prize-winning Princeton University economist Paul Krugman predicted that the U.S. economy will probably emerge from recession by September. The market woke up from its lethargic trance and rallied sharply on the comments, recouping the morning’s losses.
By:
Gregory Spearl
Finance>
Investingl
Jun 11, 2009
When General Motors filed for bankruptcy protection, its 83-year tenure as a fixture within the Dow Jones Industrial Average also came to an end. Faced with the abrupt passing of an economic icon, the stock market rallied; a classic case of selling the rumor (fear of the unknown) and buying the news (increased knowledge of the future). This works in the reverse for good news.
By:
Gregory Spearl
Finance>
Investingl
Jun 08, 2009
Following the macro-economic analysis provided by the folks at Pimco, we review Hyman Minsky’s tri-partite concept of debt structure. This topic sounds esoteric, but we guarantee it will seem strangely familiar. We add a fourth category to the Minsky model, however, which corresponds to the conservative and austere mindset that we expect to gradually dominate economics on Main Street as the slow deflation of various asset bubbles progresses.
By:
Gregory Spearl
Finance>
Investingl
Jun 03, 2009
Life, Liberty and Asset Appreciation
Wall Street has been able to look beyond the earnings flu and the swine flu to presumably healthier conditions in the second half. Little by little, the bears are capitulating. We wonder, however, whether a systemic debt problem caused by a global credit bubble can be adequately addressed by increasing debt? We will not know the final answer to that economic question for several years, but how one answers it today will strongly influence one’s tactics and strategies in the intermediate term.
By:
Gregory Spearl
Finance>
Investingl
May 27, 2009
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
Gregory Spear has 5 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
Spear Finance offers a variety of financial articles, from an overview of the stock market, to ETFs and Options. www.spearfinance.com
Tags: Hydrant, Insurance, OldsFire, Temporary, Year
Temporary Car Insurance For 21 Year Olds-Fire Hydrant
Posted on 15 December 2010 by admin
Fire Hydrant
Fire Hydrant
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Business > Negotiation > Fire Hydrant
Fire Hydrant
Posted: Sep 02, 2010 |Comments: 0
| Views: 136
|
]]>
Operation
A hose is attached to the fire hydrant, then the valve is opened to provide a powerful flow of water, on the order of 350 kPa (50 lbf/in) (this pressure varies according to region and depends on various factors including the size and location of the attached water main). This hose can be further attached to a fire engine, which can then use a powerful pump to boost the water pressure and possibly split it into multiple streams. The hose may be connected with a threaded connection or a Storz connector. Care should be taken not to open or close a fire hydrant too quickly, as this can create a water hammer which can damage nearby pipes and equipment. The water inside a charged hoseline causes it to be very heavy and high water pressure causes it to be stiff and unable to make a tight turn while pressurized. When a fire hydrant is unobstructed, this is not a problem, as there is enough room to adequately position the hose.
Clapper valve
Most fire hydrant valves are not designed to throttle the water flow; they are designed to be operated full-on or full-off. The valving arrangement of most dry-barrel hydrants is for the drain valve to be open at anything other than full operation. Usage at partial-opening can consequently result in considerable flow directly into the soil surrounding the hydrant, which, over time, can cause severe scouring. A hose with a closed nozzle valve, or fire truck connection, or closed gate valve is always attached to the hydrant prior to opening the hydrant’s main valve.
When a firefighter is operating a hydrant, appropriate personal protective equipment, such as gloves and a helmet with face shield, are typically worn. High pressure water coursing through a potentially aging and corroding hydrant could cause a failure, injuring the firefighter operating the hydrant or bystanders.
In most jurisdictions it is illegal to park a car within a certain distance of a fire hydrant. In North America the distances are commonly 3 to 5 m or 10 to 15 ft, often indicated by yellow or red paint on the curb. In the UK, yellow lines are used to keep cars from parking over underground hydrants. Parking restrictions are sometimes ignored (especially in cities where available street parking is scarce), however these laws are usually enforced. The rationale is that hydrants need to be visible and accessible in an emergency.
A New York City hydrant hooked to an FDNY fire engine with a turgid hose actively pumping water.
Other uses
Children playing in the spray of a fire hydrant in Philadelphia, Pennsylvania
To prevent casual use or misuse, the hydrant requires special tools to be opened, usually a large wrench with a pentagon-shaped socket. Vandals sometimes cause monetary loss by wasting water when they open hydrants. Such vandalism can also reduce municipal water pressure and impair firefighters’ efforts to extinguish fires. Sometimes those simply seeking to play in the water remove the caps and open the valve, providing residents a place to play and cool off in summer. However, this is usually discouraged as residents have been struck by passing automobiles while playing in the street in the water spray. In spite of this, some US communities provide low flow sprinkler heads to enable residents to use the hydrants to cool off during hot weather, while gaining some control on water usage.
In most US areas, contractors who need temporary water may purchase permits to use hydrants. The permit will generally require a hydrant meter, a gate valve and sometimes a clapper valve (if not designed into the hydrant already) to prevent back-flow into the hydrant. Additionally, residents who wish to use the hydrant to fill their in-ground swimming pool are commonly permitted to do so provided they pay for the water and agree to allow firefighters to draft from their pool in the case of an emergency.
Municipal services, such as street sweepers and tank trucks, may also be allowed to use hydrants to fill their water tanks. Often sewer maintenance trucks need water to flush out sewer lines, and fill their tanks on site from a hydrant. If necessary, the municipal workers will record the amount of water they used, or use a meter.
Since fire hydrants are one of the most accessible parts of a water distribution system, they are often used for attaching pressure gauges or loggers or monitor system water pressure. Automatic flushing devices are often attached to hydrants to maintain chlorination levels in areas of low usage. Hydrants are also used as an easy above ground access point by leak detection devices to detect locate leak from the sound they make.
Construction
Hydrant installation in Ontario, Canada
In areas subject to freezing temperatures, only a portion of the hydrant is above ground. The valve is located below the frost line and connected via a riser to the above-ground portion. A valve rod extends from the valve itself up through a seal at the top of the hydrant, where it can be operated with the proper wrench. This design is known as a “dry barrel” hydrant, in that the barrel, or vertical body of the hydrant, is normally dry. A drain valve underground opens when the water valve is completely closed; this allows all water to drain from the hydrant body to prevent the hydrant from freezing.
In warm areas, hydrants are used with one or more valves in the above-ground portion. Unlike cold-weather hydrants, it is possible to turn the water supply on and off to each port. This style is known as a “wet barrel” hydrant.
Both wet- and dry- barrel hydrants typically have multiple outlets. Wet barrel hydrant outlets are typically individually controlled, while a single stem operates all the outlets of a dry barrel hydrant simultaneously. Thus, wet barrel hydrants allow single outlets to be opened, requiring somewhat more effort but simultaneously allowing more flexibility.
A typical U.S. dry-barrel hydrant has two smaller outlets and one larger outlet. The larger outlet is often a Storz connection if the local fire department has standardized on hose using Storz fittings for large diameter supply line. The larger outlet is known as a “steamer” connection (because they were once used to supply steam powered water pumps), and a hydrant with such an outlet may be referred to as a “steamer hydrant” although this usage is becoming archaic. Likewise, an older hydrant without a steamer connection may be referred to as a “village hydrant.”
Appearance
A fire hydrant in Demorest, Georgia painted with an American patriotic theme.
A German fire hydrant showing Storz hose connections
Hydrant coloring may be due either to purely practical criteria or more artistic. In America, the AWWA and NFPA recommend hydrants be colored chrome yellow for rapid identification apart from the bonnet and nozzle caps which should be coded according to their available flow. Class AA hydrants (>1500gpm) should have their nozzle caps and bonnet colored light blue, Class A hydrants (1000-1499gpm), green, Class B hydrants (500-999gpm), orange, and Class C hydrants (0-499gpm), red. This aids arriving firefighters in determining how much water is available and whether to call for additional resources, or locate another hydrant. Other codings can be and frequently are used, some of greater complexity, incorporating pressure information, others more simplistic. In Ottawa, hydrant colors communicate different messages to firefighters; for example, if the inside of the hydrant is corroded so much that the interior diameter is too narrow for good pressure, it will be painted in a specific scheme to indicate to firefighters to move on to the next one. In many localities, a white or purple top indicates that the hydrant provides non-potable water. Where artistic and/or aesthetic considerations are paramount, hydrants can be extremely varied, or more subdued. In both instances this is usually at the cost of reduced practicality.
In Germany, most hydrants are located below ground (Unterflurhydrant) and are accessed by a Standrohr which provides the connections for the hoses.
Signage
British fire hydrant and sign
In the UK and Ireland, hydrants are located in the ground. Yellow “H” hydrant signs indicate the location of the hydrants, and are similar to the blue signs in Finland. Mounted on a small post or nearby wall etc, the two numbers indicate the size of the water main (top number) and the distance from the sign (lower number). Modern signs show these measurements in millimetres and metres, whereas older signs use Imperial units. Because the orders of magnitude are so different (6 inches versus 150 mm) there is no ambiguity whichever measuring system is used.
In areas of the United States without winter snow cover, blue reflectors embedded in the street are used to allow rapid identification of hydrants at night. In areas with snow cover, tall signs or flags are used so that hydrants can be located even if covered with snow. In rural areas tall narrow posts painted with visible colours such as red are attached to the hydrants to allow them to be located during heavy snowfall periods.
In Australia, Hydrant signage varies, with several types displayed across the country. Most Australian hydrants are underground, being of a ballcock system, and a standpipe with a central plunger is used to open the valve. Due to this, hydrant signage is essential, due to their concealed nature.
Painted markers – Usually a white or yellow (sometimes reflective paint) triangle or arrow painted on the road, pointing towards the side of the road the hydrant will be found on. These are most common in old areas, or on new roads where more advanced signs have not been installed. These are almost always coupled with a secondary form of signage.
Hydrant Marker Plates – Found on power poles, fences, or street-signs, these are a comprehensive and effective system of identification. The plate consists of several codes; H (Potable water Hydrant), RH (Recycled/Non Potable), P (Pathway, where the hydrant cover can be found), R (Roadway). The plate is vertically oriented, around 8 cm wide, and 15 cm high. Found on this plate, from top to bottom, are the following features:
The codes listed above, Potable/Non-potable at the top, Path/Roadway on the bottom of the plate.
Below this, a number giving the distance to the hydrant (in meters), then a second number below that giving the size (in millimeters) of the water main.
A black line across the center of the plate indicated the hydrant is found on the opposite side of the road to which the plate is affixed.
Plates for recycled water have a purple background, as well as the RH code, normal potable hydrants are white, with the H code.
Road reflectors or ‘Catseyes’ – Almost exclusively blue, these are placed on the center line of the road, usually with little indication on which side of the road the hydrant lies. They are visible for several hundred meters at night in heavy rain, further in clear conditions.
Inspection and maintenance
A fire hydrant that was hit by a snow plow and knocked over. Note that only the sacrificial bolts were damaged
In most areas fire hydrants require annual inspections and maintenance – they normally only have a one year warranty, but some have 5 or even 10 year warranties, although the longer warranty does not remove the need for periodic inspections or maintenance. These inspections are generally performed by the local municipalities but they often do not inspect hydrants that are identified as private. Private hydrants are usually located on larger properties to adequately protect large buildings in case of a fire and in order to comply with the fire code. Such hydrants have met the requirements of insurance underwriters and are often referred to as UL/FM hydrants. Some companies are contracted out to inspect private fire hydrants unless the municipality has undertaken that task.
Some fire Hydrant manufacturers recommend lubricating the head mechanism and restoring the head gaskets and o-rings annually in order that the fire hydrant perform the service expected of them, while others have incorporate proprietary features to provide long-term lubrication of the hydrant’s operating mechanism. In any case, periodic inspection of lubricates is recommended. Lubrication is generally done with a food grade non-petroleum lubricant to avoid contamination of the distribution system.
Occasionally a stone or foreign object will mar the seat gasket. In this case, most hydrants have a special seat wrench that allows removal of the seat to replace the gasket or other broken parts without removing the hydrant from the ground. Hydrants extensions are also available for raising a hydrant if the grade around the hydrant changes. Without extending the height, the wrenches to remove caps would not clear and the break flanges for traffic models would not be located correctly in case they were hit. Hydrant repair kits are also available to repair sacrificial parts designed to break when hit by a vehicle.
Many departments use the hydrants for flushing out water line sediments. When doing so, they often use a hydrant diffuser, which is a device that diffuses the water so that it doesn’t damage property and is less dangerous to bystanders than a solid stream. Some diffusers also dechlorinate the water to avoid ground contamination. Hydrants are also sometimes used as entry or exit points for pipe cleaning pigs.
Historical inventions and innovations
Please help improve this section by expanding it. Further information might be found on the talk page. (January 2009)
The inventor of the injected fire hydrant was James Henry Greathead.
Non-pressurized (dry) hydrants
A dry hydrant which allows water to be pumped by a fire engine from the lake
In rural areas where municipal water systems are not available, dry hydrants are used to supply water for fighting fires. A dry hydrant is analogous to a standpipe. A dry hydrant is usually an unpressurized, permanently installed pipe that has one end below the water level of a lake or pond. This end usually has a strainer to prevent debris from entering the pipe. The other end is above ground and has a hard sleeve connector. When needed, a pumper fire engine will pump from the lake or pond by drafting water. This is done by vacuuming the air out the dry hydrant, hard sleeve, and the fire engines pump with a primer. Because lower pressure exist at the pump intake, atmospheric pressure on the pond or lake forces water into part of the dry hydrant above water, into the hard sleeve, and finally into the pump. This water can then be pumped by the engine’s centrifugal pump.
Other types
Water wells are also sometimes classified as fire hydrants if they can supply enough water volume and pressure.
Standpipes are connections for firehoses within a building and serve the same purpose as fire hydrants in larger structures. Standpipes may be “dry” or “wet” (permanently filled with water).
See also
Freshly-painted fireplug in Green Valley, Arizona
Wikimedia Commons has media related to: Fire hydrants
Arson
Active fire protection
Fire extinguisher
Fire protection
Fire sprinkler
Flushing hydrant
Hydrant wrench
Portable water tank
References
^ Shaw, Eyre Massey Fire Protection, a Complete Manual of the Organization, Machinery, Discipline, and General Workings of the Fire Brigade of London 1876. Pages 24-26. Retrieved February 26, 2007 from Google Book Search. Description, illustration, and operation of London style wooden fire plugs.
^ “Fire Plugs (derivation of the term)”. SewerHistory.org. http://www.sewerhistory.org/articles/compon/fireplugs/fireplugs.pdf. Retrieved 21 November 2008.
^ Baker, Moses Nelson Manual of the American Water-works 1888. Page 210. Retrieved October 31, 2007 from Google Book Search. Iron fire-plugs first introduced in Philadelphia.
Further reading
U.S. Patent 909 Issued to John Jorden on September 8, 1838 for “…a new and useful improvement in Fire-Plugs and Hydrants…”. This is an early wooden bodied hydrant, the earliest hydrant patent extant; the patent office itself burned to the ground in 1836, taking with it all prior hydrant patents.
U.S. Patent 37,466 Issued to Richard Stileman on January 20, 1863. An early iron hydrant, believed the first patented hydrant with the larger size steamer port to supply steam fire engines. Manufactured and marketed as the Stileman hydrant. See also Stileman page at FireHydrant.org.
U.S. Patent 80,143 Issued to Zebulon Erastus Coffin on July 21, 1868. This is a cast iron hydrant very similar to modern fire hydrants, it was produced by Boston Machine Co. See also Boston Machine page at FireHydrant.org.
U.S. Patent 94,749 Issued to Birdsill Holly on September 14, 1869. Birdsill Holly himself makes no claim in his patent text that he invented the fire hydrant. What is more, his improvements are relatively minor, and today, obsolete. See also Holly page at FireHydrant.org.
Wohleber, Curt. “The Fire Hydrant”. In The American Heritage of Invention & Technology. Winter 2002. Retrieved December 25, 2005. Provides a history with dates of fire hydrant development.
External links
Wikimedia Commons has media related to: Fire hydrant
FireHydrant.Org
v d e
Fire fighting
Personnel
Firefighter Fire chief Fire marshal Fire Master Firefighter Assist and Search Team Fire Police Handcrews Helitack Hotshots Smokejumper Station officer Volunteer fire department
Facilities
Fire camp Fire lookout tower Fire Service College Fire station
Equipment
Glossary of firefighting equipment Bunker gear Escape chair Fire apparatus Fire chief’s vehicle Fire extinguisher Fire hose Fire hydrant Fire retardant Fire station Fireman’s switch Flame retardant Hard suction hose Heat detector List of fire-retardant materials Nomex PASS Rescue pumper SCBA Siren Smoke detector Splash suit Super Scooper Thermal imaging camera
Terminology
Glossary of firefighting terms Glossary of wildland fire terms Aerial firefighting Dead Man Zone Draft Fire classes Fire control Fire safety Fire triangle Fireman’s carry Firewall Flash fire Forcible entry Gaseous fire suppression Master stream Stop, drop and roll Structure fire Two-in, two-out Ventilation Wetdown Wildfire Wildfire suppression
Miscellaneous
Fire engine red Firefighting worldwide History of firefighting Incident Command System International Association of Fire Fighters International Firefighters’ Day List of historic fires List of firefighting films London Fire Brigade Museum National Fire Incident Reporting System National Fire Protection Association Saint Florian World Police and Fire Games
Categories: Firefighting equipment | Water industry | Street furnitureHidden categories: All articles with unsourced statements | Articles with unsourced statements from August 2009 | Articles to be expanded from January 2009 | All articles to be expanded | Articles lacking in-text citations from January 2009 | All articles lacking in-text citations
Retrieved from “http://www.articlesbase.com/negotiation-articles/fire-hydrant-3188765.html”
(ArticlesBase SC #3188765)
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
betty -
About the Author:
I am a professional writer from China Products, which contains a great deal of information about peanut sheller , alligator t shirt, welcome to visit!
Questions and Answers
Ask our experts your Negotiation related questions here…200 Characters left
]]>
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/negotiation-articles/fire-hydrant-3188765.html
Article Tags:
peanut sheller, alligator t shirt
Latest Negotiation Articles
More from betty
Collectors in California- Fire Hydrants
Learn how a California Fire Fighter Volunteer has a Fire Hydrant Collection. (04:47)
Networking With Others Is Necessary If You Dream Of Success In Life & Business
If you desire true success in life and business, then you must network yourself out to other successful people. Discover the proper way to find success and how to network with other people in your industry.
By:
Matt Zavadill
Business>
Negotiationl
Dec 10, 2010
them waterproof. it is feasible to now go out in snow using the believed that the ft will by no means get sweat or smelly as these boots are normally heading
By:
q455923354l
Business>
Negotiationl
Dec 07, 2010
Effective Negotiating Techniques
When you learn how to negotiate you open the doors to many new possibilities. Use these tips to get you started in the negotiation process and hopefully you’ll achieve your desired outcome.
By:
Joe Bennetl
Business>
Negotiationl
Dec 06, 2010
Are You Thinking of Selling your Chiropractic Practice?
How to Sell a Chiropractic Practice
By:
David Foster D.C.l
Business>
Negotiationl
Dec 05, 2010
The importance of contracts and agreements between the owner of a health care practice and a Associate doctor or Independent Contractor. The method to originate and craft a contract for sale that is cost effective in time, effort and money.
By:
David Foster D.C.l
Business>
Negotiationl
Dec 05, 2010
It can be extremely useful to keep accurate tabs on the amount of tax which you ay in case you have overpaid and are entitled to a refund.
By:
Rick Dahnel
Business>
Negotiationl
Nov 29, 2010
Best Practices In Negotiation: Captain Kirk’s Enterprising Secret
I’m a big William Shatner fan, and I’ve always enjoyed his many Star Trek incarnations as Captain James T. Kirk of the Starship Enterprise. But even more impressive than this portrayal is Shatner’s ongoing ability to line-up acting jobs, especially at an advancing age. How does he do it? Why is his phone constantly ringing with job offers? Learn his enterprising secret, a best practice in negotiation.
By:
Dr. Gary S. Goodmanl
Business>
Negotiationl
Nov 24, 2010
A warning has been sent to all consumers who are required to send in a tax return for 2009-10. In a message, HM Revenue & Customs (HMRC) noted that the deadline for paper tax returns, which was October 31st, has now passed. Therefore, in order to avoid a penalty of £100, all those yet to complete theirs must do so online.
By:
Gareth Hoylel
Business>
Negotiationl
Nov 22, 2010
Professor Cheng Sun: Japanese Chain Store Operator Based Out Of Millionaires
Zhiyuan, Shandong Jiaozhou have to wash the chain supermarkets, many shops and industry peers, this shop has some disdain, because this shop is too general too common
By:
bettyl
Business>
Negotiationl
Oct 26, 2010
How To Add The Feed To Control The Amount Of Antibiotics
Antibiotics can promote growth and improve feed conversion rates have been accepted by majority of farmers, in feed antibiotics, not only can prevent animal disease
By:
bettyl
Business>
Non Profit Organizationsl
Oct 26, 2010
U.s. Imports Of Hardware And Building Materials Products In The Market Profile Analysis
The first half of the U.S. economy into recession since 2001 has been up to buck the trend of real estate industry, residential housing starts, completed, existing home sales have continued to Zouwang
By:
bettyl
Business>
Team Buildingl
Oct 26, 2010
Vocational Institutions And Vocational Training Institutions Became The “meat And Potatoes”
Our province has just started taking good ideas, but many results have been middle and lower reaches of the candidates are turning their Vocational Education
By:
bettyl
Business>
Non Profit Organizationsl
Oct 26, 2010
Iptv?? Interactive Multimedia Broadcast Service In The Pioneer
With the development of the Internet and the popularization of computer applications, multimedia playback business people not only growing demand
By:
bettyl
Business>
Outsourcingl
Oct 25, 2010
China Sports Daily: Do Not Wear Casual To The Product, “helmet”
3? 15 CCTV heavy attack less than a month’s time, as the ” European Code Floor “,” National oral-law certification “and other aspects of negative reports in detail the more recent polls
By:
bettyl
Business>
Public Relationsl
Oct 25, 2010
Instrument Innovation And Technology Of China Development
Scientific and technological progress constantly Instrumentation Made more updated requirements
By:
bettyl
Business>
Organizationall
Oct 25, 2010
Collar Machine Required: Offset Press Machine To Install A Few Notes
1. Room size As Print Environment requires higher, and therefore the greater the room, the control environment of temperature and humidity the more difficult, from that point of view
By:
bettyl
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
betty has 393 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Agriculture
Ask an Expert
Business Ideas
Business Opportunities
Corporate
Customer Service
Entrepreneurship
Ethics
Franchise
Fundraising
Home Business
Human Resources
Industrial
International Business
Leadership
Management
Negotiation
Networking
Non Profit Organizations
Online Business
Organizational
Outsourcing
Presentation
Project Management
Public Company
Public Relations
Sales
Six Sigma
Small Business
Strategic Planning
Team Building
Training
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
I am a professional writer from China Products, which contains a great deal of information about peanut sheller , alligator t shirt, welcome to visit!
Tags: Achieve, Financial, Freedom, Home, Insurance, OldsHow, Temporary, Year
Temporary Car Insurance For 21 Year Olds-How to Achieve Financial Freedom With Your Home
Posted on 10 December 2010 by admin
How to Achieve Financial Freedom With Your Home
How to Achieve Financial Freedom With Your Home
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Real Estate > How to Achieve Financial Freedom With Your Home
How to Achieve Financial Freedom With Your Home
Posted: Feb 04, 2006 |Comments: 0
| Views: 287
|
]]>
How to Achieve Financial Freedom With Your Home
By: Geoff Morris
About the Author
Geoff Morris, Cambridge UK
geoff.morris.properties@gmail.com
Geoff Morris has built up a multi-million pound property portfolio in less than 18 months. Free reports and consumer guides can be found at www.propertyprofits4you.com
(ArticlesBase SC #13417)
Article Source: http://www.articlesbase.com/ – How to Achieve Financial Freedom With Your Home
The secret disclosed on how you too could achieve financial freedom through property (and tell the pension companies just where to stick their measly, worthless ‘pensions’). Although written primarily for the UK market, we can usually arrange financial facilites for motivated investors from most parts of the world.
Geoff Morris is a self-made property millionaire who made it in less than 18 months even with a hectic ‘day job’. He has written a series of articles to help people like you achieve the same levels of success – as long as you are willing to ‘Go For It!’
Many people these days are getting more and more concerned as they approach retirement age. Even those in their late twenties are beginning to become concerned about the effects of old age. What has brought on such a dilemma in those so young? It is the plight of the pensions in this country that is causing this concern?
Probably.
But there is a solution to all this that could not only remove this fear, but also dramatically improve the lifestyle of all concerned.
What is this solution?
Most people are brought up to believe that their main goal in life is to own their own house, and have fully paid for it by the time they retire.
Why?
What is the point in just scrimping and scraping throughout your working life only to have to sell your house and move down market, or worse still, sell up and rent, while you just try and make ends meet on a pitifully small handout from the State?
As soon as you have bought your first house, you should be thinking about buying your second and your third, and your fourth…..
“What on earth for” , will be the retort of most of you, ” we can only just afford the repayments on the first one, let alone buy any more”
Let’s look at the way most people buy a house, and then lets look at some alternative methods.
The usual way of acquiring a house is to put down a large deposit – somewhere in the region of 10 – 15%, which on an average £200,000 house will equate to around £30,000.
The next route is to take out a repayment mortgage over a fixed term, say 15 to 25 years, where you will be paying a combination of interest on the outstanding loan, as well as repaying the capital.
On top of this, most people will take out some other financial facility, such as an endowment policy coupled with a life insurance policy for the period of the mortgage, so at the end of the mortgage term, they will not only own the house outright, but also have a lump sum. Not a very large lump sum, as a lot of the insurance premiums would have gone towards the life cover purchased.
Now, we have all seen how endowments have failed terribly of late due to overoptimistic performance, so there is no guarantee that the above route wil produce anything other than a tremendous financial drain on this person for a very large period of their lives, and with no real plan for their future except ownership of a house, a small endowment, and probably a ridiculously low pension to keep them going in their retirement years.
However, there is another way. Interested? Then read on….
Let’s look at a totally different scenario, where the couple looking to buy their first house took specialist advice from one of the more reputable property clubs that are around. These clubs are admittedly usually aimed at property investors, but isn’t that what we all should be?
Now, let’s take our example of the £200,000 dream house for our hopeful house buyers. They see a development of dream houses by one of the nationally recognised house builders. Do you think they could persuade the developers to pay the 15% deposit for them? On their own – not a chance, but if our hopefuls go via one of these property clubs, the chances are that the developer would now be willing to pay the 15% as a ‘gift’.
I can see your expression now. “Not a chance” you say. But it does happen, and we can arrange introductions to make this possible.
So, you now have bought your house, and instead of having to find £30,000 deposit, al you have to do is get your self a mortgage.
Now, when you move into a house, especially in your early years, the chance of you staying there for the term of the mortgage is very unlikely. You may change jobs; you may want to move to a different area, or there may be many other reason why you will want to move within a few years. So, the house you have bought is only a temporary residence, and you could almost treat it as a rental property – but with one big big difference.
Whether you paid the deposit, or whether you got this ‘gifted’ deposit from the developers, this money, this equity in the property is YOURS. And not only that, it is a historical fact that house prices, given time, will always increase.
So as this is a ‘temporary’ abode, why go for a mortgage that includes a repayment element in it? Why not go for what is known as an interest only mortgage? What this is then is a loan where you never pay back any of the principle of the loan, but only the interest on it. You will have to pay back the capital at the end of the term, but we will be showing you how easy that can be achieved a little bit later.
Your situation now is that you are paying the barest minimum mortgage repayment, but are also sitting on a considerable amount of INCREASIING equity! You do not have to pay for an expensive endowment policy, although a life policy may well give your other half a comfort blanket.
But now look at another effect, which is called ‘Leverage’. With a no-money down deal, the leverage is enormous, but consider the case where you bought a £200,000 house and put a 10% (£20,000) deposit down on it. If the house goes up in value by 10% the equity in your house will have increased by some £20,000. Now, your initial investment was £20,000, so you will have DOUBLED your investment in 12 months. Not bad huh! Try doing that at your local Bank, or even if you dare, the Stock Market!
So, let’s say house prices went up by just 5% per annum over the next 2 years. This would mean an increase in your equity (equity being the difference between the value of your house and the amount of the mortgage on it). This would mean you now owned an extra £10,000 after the first year (5% of £200,000) and £21,000 after the second year (5% of £210,000 + £10,000 from the previous year). This would mean that your house was now worth £221,000, of which you now owned (£221.000 – £170,000) which comes to some £55,100.
Wow! £55 Grand that belongs to you!
Now, let’s do something with this money!
With a good clean credit record after the last 2 years (assuming you had no defaults on your mortgage payments) you could now refinance your house. You could go to your existing lender (if you have a penalty period in your mortgage), or you could go to any other lender and negotiate up to 90% (subject to your financial status) of THE NEW VALUE OF YOUR HOUSE.
90% of £221,000 is £198,900. So you can release nearly £30,000 out of the equity in your house. And the best thing about this money is it is totally tax free! No capital gains to pay and no income tax! If you don’t believe me, speak to an accountant.
Many people have in fact done this, but have then spent the money on new cars, boats, holidays and the like, but once the money is spent in this fashion, it is gone for ever.
But how about if you went and bought another house, this time as an investment property?
You never know, your friendly developer may be persuaded to give you another gifted deposit, in which case you could buy several more houses (your only expense being legal fees, broker’s fees, and stamp duty, which on a £200,000 property would come to around £5,000). In this case, with your £30,000 you could buy another 6 houses!
But how do you go about buying all of these houses? And how, if they all have £170,000 mortgages on them are you ever going to meet the repayments. Assuming an interest rate of 5%, that would be about £700 per property per month! £4,200 per month mortgage! Heaven forbid. How would you sleep at night with that level of debt to your name?
Some years ago this would have been impossible as there was no real financial system that would enable an individual to do this. However, now, you can get what is known as a ‘Buy To Let’ mortgage, where lenders will usually lend up to 85% of the property in question, as long as the anticipated rental income will cover the repayments , plus a bit. The ‘plus a bit’ tends to vary from lender to lender, but you can very quickly get an answer from lenders on whether they will meet the loan. Also, if you are going to get a ‘gifted deposit’, there are only a few lenders who will offer 85% of the list price, so once again, you will need to use a property club or a broker who is used to this situation.
So, you are now the lucky owner of 6 investment properties, as well as your own house.
You also have a commitment to pay 6 investment mortgages as well, and we totalled that as being some £4,200 a month!
But – you don’t want to have to pay that do you? No! You get tenants in, who very kindly pay the mortgage for you (plus a bit for your pocket and 10% or thereabouts for a managing agent to look after the tenants). You can also take out insurances to cover loss of rent, damage, legal fees on disputes, so it is eminently possible for you to become an ‘armchair’ investor landlord.
However, you now own 6 investment houses, not one. You have already seen how equity can build up in your own house. So let’s look at each of your investment properties.
If each property was worth £200,000, and you got a 15% gifted deposit on each one, you are already looking at an equity of some £30,000 in each unit.
If each property increased in value by just 5% per annum, that’s £10,000 from every unit.
Just look what you would be gaining. You would now own a property portfolio of 6 investment properties worth £1.200,000 of which you would have instant equity of around £180,000, and this would be increasing (at just 5%) of some £60,000 every year. Without compounding this increase, if you sold all of your investment properties after 10 years, you would walk away with well over THREE QUARTERS OF A MILLION POUNDS!
So, do you still believe that – whatever the cost – your main objective in life is to pay off your mortgage?
By all means, have this intention – but only after you have made so many other gains that you can really afford this luxury.
Retrieved from “http://www.articlesbase.com/real-estate-articles/how-to-achieve-financial-freedom-with-your-home-13417.html”
(ArticlesBase SC #13417)
Geoff Morris -
About the Author:
Geoff Morris, Cambridge UK
geoff.morris.properties@gmail.com
Geoff Morris has built up a multi-million pound property portfolio in less than 18 months. Free reports and consumer guides can be found at www.propertyprofits4you.com
]]>
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Article Tags:
property, investment property, pensions
Latest Real Estate Articles
More from Geoff Morris
Rick otton uncovers new strategies property investment
Stop wondering why property investment seems out of reach New strategies for property investment that do away with the risk traditional associated with property investment New levels of speed and efficiency in profiting from the property market (04:08)
How to Apply Feng Shui to a House For Sale
Don’t fret over selling your house. Feng Shui your property and make a deal! With some minor changes you can make sure that ‘for sale’ sign gets pulled up almost as soon as it’s planted. Host and Feng Shui expert Leigh Kubin shows you how. (05:47)
Foreclosure Tips – Housing Counselors
Learn what foreclose means and what you can do to get back on track – Housing Counselors (00:27)
Learn how to purchase a town house or a semi-attached property. (03:29)
5 Tips to Rehab Property (Indianapolis)
Larry Oliver gives 5 quick tips to Rehab Property. (05:02)
When and How you should Sell your Property Investments
When investing, most people concentrate on the ‘deal’ they are getting and whether it works in today’s market. However, since the property price falls of 2007 left many investors who wanted to cash in for their retirement in dire straits, and with the demand and supply of property likely to change in the future due to demographics, it’s essential to have a good idea of when is the right time to sell your investments.
By:
Kate Faulknerl
Finance>
Real Estatel
Nov 05, 2009
Property Investment Advice to Buy UK Real Estates
You can find many property investment advices on the internet. Just follow the advices before purchasing.
By:
PARMAR12l
Finance>
Real Estatel
Oct 16, 2008
French Investment Property: a Better Opportunity
With the price stabilisation being experienced in the UK, many people are looking outwards for property investments. One of the most popular options is France. Being the world’s most famous tourist destination, the country offers a profitable opportunity for investors who can answer the high demand for rental properties.
By:
Parmdeep Vadeshal
Financel
Sep 09, 2008
The Self Invested Personal Pension (SIPP) plan has been quite popular abroad, as far as pension property investment goes. There are a number of advantages related to a Self Invested Personal Pension (SIPP) plan. A Self Invested Personal Pension (SIPP) plan gives 100% income tax relief if you happen to purchase a commercial property.
By:
John Ryanl
Financel
Sep 08, 2010
The Self Invested Personal Pension (SIPP) plan has been quite popular abroad, as far as pension property investment goes. There are a number of advantages related to a Self Invested Personal Pension (SIPP) plan.
By:
ROC Investments4ul
Businessl
Apr 22, 2010
Benefits of a SIPP Property Investment
Personal control over the investment direction of the pension plan is one of the main benefits that differentiate a SIPP from a traditional pension. The freedom to select assets ensures that all pension holders, whether experienced in investments or not, are able to benefit from the advantages of SIPPs.
By:
Melissa Chappelll
Finance>
Investingl
Jan 21, 2010
lComments: 1
Self Invested Personal Pensions
A Self Invested Personal Pension puts the investor in control of their own pension planning. In other personal pensions and stakeholder pensions the investor can be at the mercy of the fund manager, however with a SIPP the investor has control and flexibility.
By:
Julie Hansonl
Food and Beveragel
Apr 13, 2010
Many people in UK are looking at property for investment abroad in places like the Caribbean, Cape Verde. Topping their list of investment priority is purchasing luxury holiday villas and hotel rooms in the Caribbean islands, Cape Verde through a self invested personal pension plan or SIPP.
By:
ROC Investments4ul
Businessl
Apr 22, 2010
Alabama Land For Sale – Is Your Land Ready To Sell
If you own land for sale in Alabama and the land has not been kept very well over the last few years, I have some suggestions on how you can improve your property. Some of the suggestions you probably have never heard of.
By:
Chuck Mageel
Finance>
Real Estatel
Dec 10, 2010
Tulip Violet- Tulip Group New Project Gurgaon
Tulip Group has launched new residential project Tulip Violet. Tulip Violet is located sector 69 in Gurgaon. Tulip Violet offers offers 3 and 4 bedroom apartments. Tulip Violet rest in a cosy nest step into a modern fairytale with luxury bedrooms.
By:
Shakti Deenl
Finance>
Real Estatel
Dec 10, 2010
There is no doubt that a short sale is not your run of the mill Real Estate transaction. Anyone who has ever been involved with one as a listing agent knows there are a lot of hoops to jump through. What makes a good agent different from the bad? Here are some questions you should ask to see if a realtor is right for you.
By:
Jacob Bonl
Finance>
Real Estatel
Dec 10, 2010
Modern Types of Housings for Modern Filipinos
There are many popular types of modern housings in the Philippines today that can offer its residents the kinds of benefits that conform in their different and fast changing lifestyles. So what are these types of housings?
By:
Harry Dobelll
Finance>
Real Estatel
Dec 10, 2010
Popular Houses of the Philippines
Though not as popular as other types of modern housings, condominiums are still known for its many unique benefits which is why houses are still considered as one of the most popular and in-demand types of housings in the Philippines.
By:
Harry Dobelll
Finance>
Real Estatel
Dec 10, 2010
New Benefits for Filipinos by New Houses
Houses became even more popular when new benefits were introduced along with new houses found in the Philippines. And it was because of these new houses that these types of housings became more popular in today’s modern trends.
By:
Harry Dobelll
Finance>
Real Estatel
Dec 10, 2010
Rising New Houses in the Philippines
Though the popularity of houses had significantly dropped in recent years, its popularity had steadily risen now that new house and lot for sale Philippines had been made available in many parts of the Philippines, particularly around Metro Manila.
By:
Catherine Ruizl
Finance>
Real Estatel
Dec 10, 2010
Calgary Homes For Sale-Making Your Home Dream Come True
Nowadays Calgary Homes For Sale is a vital issue for the persons who have property in Calgary. They can get necessary information regarding their property such as current price, mortgage rate etc from Calgary board.
By:
Amupitan Adekunlel
Finance>
Real Estatel
Dec 10, 2010
Network Marketing – Just About The Only Solution to The Pension Crisis
If you are looking to retire and rely on private pensions to keep you in the lifestyle you think you deserve, then you are going to need around One Million in your Pension Pot to meet those dreams. Reality check – how many of us are going to achieve that? And how many of us are going to have to rely on State Pensions? And with the recent financial turmoil sending property and share values tumbling, is there a viable alternative?
By:
Geoff Morrisl
Sports and Fitness>
Fitnessl
May 28, 2010
Wellness and Network Marketing – Hype or Dream Maker?
With so many people out of work these days, or fearing for their jobs, why do so many shun the idea of network marketing – the oldest profession in the world?
By:
Geoff Morrisl
Healthl
May 22, 2010
How To Play Dirty and Live a Longer Happier and Wealthier Lifestyle
With many EU States, especially the UK and Germany, creating a sort of ‘Nanny’ State, where the government puts out so many restrictions ‘to protect us from ourselves’, are they not creating environment that is not only stifling how we run our lives, but by forcing us to live in a ‘sterile’ – antibacterial -environment, actually causing us more harm than good when it comes to our health?
By:
Geoff Morrisl
Healthl
May 14, 2010
Who Else Needs Financial Stability from Investment Property
If you are jetting off to somewhere sunny like Florida or the Canary Islands, beware the Timeshare Touts – they are only good for a free breakfast and theme park rides.
By:
Geoff Morrisl
Financel
May 13, 2010
Who Else Wants to Run Home Parties to Earn Extra Cash Today
The Sun Newspaper reported that some 400,000 Brits now run Home Party Plans to earn extra cash. Tupperware, jewellery, cosmetics, lingerie, scented candles, and even sex toys help many to turn over ,000 extra from these part-time parties. But wherever you are – Germany, Malaysia, Hong Kong, Singapore, Indonesia, or Poland – why not look for products in the next TRILLION DOLLAR market – Wellness – and earn more than ,000 a WEEK!
By:
Geoff Morrisl
Healthl
May 08, 2010
What – Property That Pays For Your Dreams
After living though the latest financial nightmare, and the relentless destruction of pension funds, sometimes wouldn’t it be great if you could do something positive to secure your offspring’s future financial independence, even though yours may be a little shaky…
By:
Geoff Morrisl
Financel
May 08, 2010
Which Home Business Suites You – Property or Network Marketing
According to Robert Kiyosaki, author of the famous self development book ‘Rich Dad, Poor Dad’, property and network marketing are two of the top ways of developing passive income streams. But do they sit easily together?
By:
Geoff Morrisl
Self Improvementl
May 07, 2010
Who Else Wants To Improve Their Health and Their Wealth Today – The German Way
An EU Government announced last week that as we are living longer, over 2 million more of us will need some form of long-term social care over the next 5 years. Social Services cannot cope today, so this article looks at how fruit could hold a strategic key to solving this issue…
By:
Geoff Morrisl
Healthl
May 01, 2010
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
Geoff Morris has 24 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
Geoff Morris, Cambridge UK
geoff.morris.properties@gmail.com
Geoff Morris has built up a multi-million pound property portfolio in less than 18 months. Free reports and consumer guides can be found at www.propertyprofits4you.com
Tags: Insurance, OldsAnti, Poverty, Temporary, Year
Temporary Car Insurance For 21 Year Olds-Anti Poverty
Posted on 08 December 2010 by admin
Anti Poverty
Anti Poverty
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > News and Society > Politics > Anti Poverty
Anti Poverty
Posted: Dec 17, 2008 |Comments: 0
| Views: 563
|
]]>
Anti Poverty
By: Garima Dasgupta
About the Author
Garima Dasgupta
Graduate student
(ArticlesBase SC #688499)
Article Source: http://www.articlesbase.com/ – Anti Poverty
Anti Poverty in USA
Even the wealthiest nation in the world like the United States does not escape the problem of poverty. This paper takes a critical look at poverty and anti-poverty policies in the United States. In this paper, I have argued that poverty is caused by several factors. This paper also discusses the liberal and conservative perspectives for reducing poverty in America. The conservatives have focused on individual factors such as wide wage gaps, breakdown of family, racial factors and other reasons while the liberals have focused on the structural transformation of the American economy to explain the persistence of poverty. Since 1960, both the federal and state governments have been responding with policies that address the problem with mixed results. In this paper, I have analyzed the policies and have also recommended the possible ways to deal with this intractable nature of poverty.
According to Sen (1981), ‘the poor are those people whose consumption standards fall short of the norms, or whose income lie below that line’. The word “poverty” suggests destitution, an inability to provide a family with nutritious food, clothing, and reasonable shelter. Over thirty-six million Americans live below the official U.S. poverty line (Blank, 2007). This means a family of three earns less than less than $ 16,000 or a single individual earns ,300 per annum (Blank, 2007, p. 17). Millions more struggle each month to pay for basic necessities, or run out of savings when they lose jobs or face health emergencies. Job cuts, high rates of unemployment, foreclosures and high food and gas prices continue to stimulate policy formulation designed to improve the condition of the poor.
Poverty is integrally associated with misery and suffering. The lost potential of children in poor households and the lower productivity and earnings of poor adults are all intertwined with poor health, increased crime and broken neighborhoods. Childhood poverty typically leads to poor health care and high crime neighborhoods. Persistent childhood poverty is estimated to cost the United States 0 billion each year, or about 4% of the nation’s gross domestic product (Blank, 2007, p.1).
One in eight Americans lives in poverty and poverty in the United States is far higher than in many developed nations (Rebecca Blank, 2007, p1). Inequality has reached record high. The richest 1 percent of Americans in 2005 held the largest share of the nation’s income (19%) since 1929 (Rebecca Blank, 2007, p. 2). At the same time the poorest 20% of Americans held only 3.4% of the nation’s income (Rebecca Blank, 2007, p.2).
Colorado in spite of being surrounded by the beautiful Rocky Mountains and experiencing a cool, mountain climate has many homeless people. Scholars have identified that, a growing number of single parent households, a shortage of jobs for lower wage workers and a low rate of high school graduation have contributed to the growth of poverty in Colorado. The Colorado poverty rate has increased from 9.2% in 2000-2001 to 10.6% in 2005-2006 while the poverty rate of United States has increased from 11.5% in 2000-2001 to 12.5 % in 2005-2006 (Center on Law and Policy, 2006, p.1). Most of these ill-fated poor people suffer from mental and health problems.
Causes of Poverty
Policy analysts are trying to explore numerous perceived direct and indirect causes of poverty in the United States to formulate effective policies to alleviate poverty. The work of scholars such as Corley (2003), Sowell ( 2004), Iceland (2006), Jencks (1992), James Tobin (1993) and others have shown that the intractable nature of poverty is a result of not any one factor but of the interaction of a variety of causes. The breakdown of family and other social causes as well as the structural changes in the economy, have all contributed to society’s failure to eradicate poverty inspite of ardent efforts by policy analysts.
Individual Explanation of poverty mainly stresses the attitudinal or motivational factors and human capital factors. Thus lack of motivation among indigents causes poverty. Generous welfare programs sometimes affect the mind-set of recipients and they prefer to stay at home and enjoy the benefits rather than work outside. Murray (1984) argues that individuals prefer to remain on welfare because of insufficient motivation to come out from public welfare programs.
Formulation and proliferation of policies to alleviate poverty has been a major concern of the United States Government since 1960. Educational attainment is necessary to get a high paying job. Elementary school education, as well as lack of adequate skills and motivation among indigents to come out of the situation is the major causes of poverty. People well equipped with technical skills get high salaried jobs while people who are school drop outs get low pay on an hourly basis. During the 1960s when the then- President of United States Lyndon Johnson began to implement the United States ‘war on poverty’, he placed great emphasis on education (Jencks, 1992). The Lyndon Johnson administration even invested in programs like Head Start and occupational training to upgrade the skills of the poor and also to prevent future generations from working in low-paying jobs. Scholars like Sowell (2004) and Corley (2003) have emphasized individual level factors as the central causes of poverty. They argue that a person’s compensation is based on his or her educational qualification and marketable skills. Sowell (2004) argues that the lack of appropriate skills has affected the ability of many indigents to climb out of poverty. He also argues that there has been an increase in the poverty rate of unskilled Americans, who have lost jobs to Asian immigrants. Corley (2003) also supports the above argument and regards ‘lack of educational attainment’ as one of the entrenched sources of poverty. Low quality education from poorly funded inner-city schools results in few marketable skills which leads to low-wage jobs and other miseries associated with it such as less ability to pay for housing, food, clothing, medical care, bad neighborhoods, funding problems for schools, and increased risk of serious illness (Corley, 2003).
Many scholars have argued that structural changes are the primary reason for the persistence of poverty in the United States. Structuralists emphasize issues such as joblessness, discrimination in education, institutional racism and economic transformations in explaining the causes of poverty. Scholars argue that the inability to provide decent paying jobs for some American families and the ineffectiveness of American public policy to reduce poverty are basically the result of structural failures and processes. Poverty is rooted in the structure of American society. Rank, 2004 supports the above view and argues that lack of human capital tends to place individuals in a vulnerable state when events and crises occur. The incidence of these events like loss of a job, family break-up and ill-health often result in poverty. These ill-fated people unable to handle these situations often end up in paying more. Scholars also argue that the acquisition of human capital is strongly influenced by the impact of social class on this process (Rank, 2004). Apart from poor family, race and gender also play a role in the acquisition of human capital (Mark Robert Rank, 2004).
Globalization, the expansion of credit markets leading to greater indebtness and foreclosures leading to recession in 2008 all point to the growth of poverty. Iceland (2006) primarily focused on economic factors and has argued that poverty is also the product of deindustrialization. As the U.S. shifts from a manufacturing, industrial society to a service-oriented, high-tech society, many of the blue-collar jobs that required little education but paid well are disappearing or are being outsourced. Rural areas, such as Appalachia, suffer losses of mining jobs, and cities such as Detroit lose many manufacturing jobs to automation or overseas factories. Some people are unable to follow the jobs or commute to work are left in neighborhoods without employment or tax-basis to support needed social functions, such as schools, public transportation, police departments, and so forth. Others simply cannot find jobs because of the shift towards a service-based economy; in economic terms these people are structurally unemployed due to the changing skills needed. Tobin (1993) supports the above viewpoint and emphasizes on the disappearance of jobs in the 1900s as the main reason for the country’s failure to eradicate poverty. Recent employment data shows that the US housing slump and the crisis in America’s credit markets are threatening to increase poverty levels. Isidore (2008) mentions that the job losses are widespread, with the battered construction sector losing 51,000 jobs and manufacturing employment falling by 48,000 in the year 2008 . Retail employment dropped by 12,000 jobs, and business and professional service employers cut staff by 35,000. The unemployment rate jumped to 6.1% in September from 4.9 % in January (Bureau of Labor Statistics, 2008).
Kelso (1994), argues that over the last forty years, there has been a major shift of American firms first to the west and then to the south. Part of this shift was due to the rise of the Cold War and the decision of the government to enlarge U.S. military power (kelso, 1994). He argues that as America elected to invest more in defense and in the aerospace industry, cities like Seattle and Los Angeles on the West Coast began to boom while the growth of a high technology and information based technology led to the growing affluence of California and the San Francisco Bay area. Later with the expansion of inter-state highway system and growth of jobs, markets were created in the south.
Iceland (2006) also argues that although the service sector of the economy has generated millions of jobs, but again polarized earning distribution based on educational attainment separates better paying jobs from poorer paying jobs. He supports a Marxian analysis of class conflict and exploitation and emphasizes on business owners favor hiring inexpensive labor to maximize profit. This also accounts for the inflow of cheap labor to the United States from Mexico and other countries. Greater access to credit has put cars, computers, credit cards, and even homes within reach for many more of the working poor. But this remaking of the marketplace for low-income consumers has a dark side. Roubini notes that, “Having access to credit should be helping low-income individuals, but instead of becoming an opportunity for upward social and economic mobility, it becomes a debt trap for many trying to move up (Grow and Epstein, 2007).
Inspite of public assistance and wide initiatives taken by both Federal and State governments, poverty still exists. Meticulous analysis of the situation and effective formulation of policies is needed to solve the problem of poverty in the United States. Scholars like Rank (2004), Blank (2007) and others have shown that the United States Government spends fewer funds addressed towards poverty than any other industrialized country. Thus a major structural failure is found at the political level (Rank, 2004). Most European countries provide a wide range of insurance programs, unemployment assistance, and wide universal health coverage along with considerable support for child care (Rank, 2004). Such social programs are far more generous than those in the United States (Rank, 2004). While, low-income families in the United States work more than those in other countries, they are still not able to make up for lower governmental income support relative to their European counterparts (Blank, 2007, 141-142).
The gross disparities among impoverished people in the United States along racial lines have led many scholars to speculate that institutional racism is responsible for much of the poverty in the United States. Racial discrimination in employment and education contribute to the growth of poverty. Some scholars like Massey and Denton (1993) interpret the statistics in terms of institutional racism while others like Kelso (1994) interpret the statistics as evidence of deficiencies and suffering of blacks. In spite of efforts to remove racism, slavery and Jim Crow segregation, Massey and Denton (1993) argue that racial segregation still exists and that the fundamental cause of poverty among African Americans is segregation. They argue that segregation has created and perpetuated a black underclass by limiting educational and employment opportunities. Massey and Denton (1993) have shown that Blacks were shown homes in racially mixed areas or areas adjacent to predominantly black areas.
Also, changing patterns of family formation are more pronounced among racial and ethnic groups. Family patterns are also one of the causes of poverty in the United States. There is a wide gender gap in wages. In 2004 the median income of FTYR male workers was ,798, compared to ,223 for FTYR female workers (DeNavas-Walt et al, 2005) Pearce (1978) argues that ‘poverty is rapidly becoming a female problem’. Iceland (2006) supports this statement and showed that in 2000, the female poverty rate (12.5%) was 26% higher than the male poverty rate (9.9%) (Iceland, 2006). According to Iceland, women have fewer economic resources than men, and they are more likely to be the head of single- parent families. It also leads to the greater likehood that single, divorced or widowed women will be poorer than their male counterparts because of less social security income or other retirement income in addition to higher female life expectancies. Women’s lower wages, lower retirement benefits and the increasing number of single mothers have led some scholars to talk about the “Feminization of Poverty.”
Federal policies
After the Second World War, by 1963, creation of jobs by President John F. Kennedy’s tax policies could not remove the problem of poverty. Poverty was still recognized as a major national problem. President Lyndon B. Johnson’s War on Poverty led to a host of programs that included Medicare, Medicaid, Food Stamps, Aid to Families with Dependent Children, and others. These entitlements eventually consumed half the federal budget and could not alleviate poverty. The U.S. economy had been devastated by the recession of 1979-83 when the United Statess manufacturing infrastructure was shattered by the Federal Reserve’s skyrocketing interest rates causing unemployment to shoot up by sixty-five percent in four years (Cook, 2007). By the end of the 1980s the economy was in another recession, leading to the election of Bill Clinton who in 1992 replaced the incumbent George H.W. Bush. The investment boom of the 1990s was fueled by foreign capital lured in by the Treasury’s strong dollar policies. Jobs were created as the dot.com bubble expanded, trade barriers fell, and utility trading giants like Enron took off. NAFTA was enacted to promote free trade, welfare-to-work brought low-income women into the job market, and the Earned Income Tax Credit was extended. The party ended when the stock market crashed in December 2000 and millions of people lost their retirement savings and other investments. Recession was returning even as George W. Bush was being declared president by the U.S. Supreme Court in December 2000. The economic crisis deepened after the September 11, 2001 attacks when .4 trillion in wealth vanished during the worst five days of the stock market since the Great Depression (Cook, 2007). Cook (2007) argues that today, poverty is becoming a national catastrophe. Cook (2007) argues that from 2002 through 2006 the economy was floated by the housing bubble, with many lower income people getting into homes of their own through the proliferation of sub prime mortgages. With the financial woes in late 2008, many American citizens are left with inflated home prices and no way to pay for them.
The 1960’s policy initiatives and declaration of ‘unconditional war on poverty’ by the then president Lyndon Johnson marked a discrete change in the federal government’s willingness to intervene for the purpose of improving the economic situation of poor Americans. Despite the billions of dollars spent on programs like CETA (Comprehensive Employment Training Act), The Manpower Development and Training Act, Head Start, and the Elementary and Secondary Education Act, the government efforts to deal with the origins of poverty have met with minimal success. During this period, implementation of the Social Security old-age program insured virtually all retired workers against the risk of outliving their savings. The Social Security Act of 1935 sought to protect the incomes of those who did not work because of age or a poor economy by establishing a federal framework for unemployment insurance, old-age benefits, and assistance to women. In early 1964, the two most pressing priorities of President Johnson’s antipoverty agenda involved passing a massive tax cut designed to stimulate the economy and organizing a task force to shape the ‘War on Poverty’. The Economic opportunity Act (EOA) signed by Johnson created a long list of programs designed to help individuals develop marketable skills, political power, and civic aptitude. But this anti-poverty legislation oversaw other programs like Community Action Program, Job Corps, VISTA, Head Start (1965), Legal Services (1965) which were not included in its framework. While extensive programs like the Food Stamp Program, Medicare for elderly, Medicaid applied to qualified poor residents, the Elementary and Secondary Education Act for poor students overshadowed the EOA. The Higher Education Act eased the financial burdens of millions of college students. The Civil Rights Act opened up new spaces in the American marketplace, while the Voting Rights Act did the same for the political marketplace. The Fair Housing Act established an important base of law to combat housing discrimination. As a result the EOA slowly lost importance. Again, Murray (1984) argues that welfare benefits had soared so high so as to make living in poverty a meaningful option for the poor. Even Burton (1992) has supported the above viewpoint and argues that the programs have done more to cause poverty than to alleviate it.
When Nixon assumed power, he tried to deal with poverty in a more direct way than emphasizing social programs. . Although President Nixon expressed dislike for much of the War on Poverty, his administration responded to public pressure by maintaining most programs and by expanding the welfare state through the liberalization of the Food Stamp program, the indexing of Social Security to inflation, and the passage of the Supplemental Security Income (SSI) program for disabled Americans (Rank, 2004). The Nixon administration also endorsed a “New Federalism” in which the federal government shifted more authority over social welfare enterprises to state and local governments. His plan to implement the ‘Family Assistance Plan’ (FAP) consisted of various income provisions, work provisions, and training provisions for those below the poverty line (Rank, 2004). It failed to pass the Senate much like the ‘Programs for Better Jobs and Income’ initiated by President Carter in later years. Welfare reform continued as a focus of federal policy debates even after the legislative defeat of FAP. Even though a cash ‘Negative income Tax’ (NIT) for all poor persons never passed, the Food Stamp program provided a national benefit in food coupons that varied by family size, regardless of state of residence or living arrangements or marital status. The number of AFDC recipients increased from about 6 million to 11 million and the number of food stamp recipients, from about 1 million to 19 million during the Nixon administration (Danziger, 1999, p. 8). Danziger (1999) also argues that as higher cash and in-kind benefits became available to a larger percentage of poor people, the work disincentives and high budgetary costs of welfare programs were increasingly challenged. The public and policy makers came to view increased welfare recipients as evidence that the programs were subsidizing dependency and encouraging idleness.
Despite the failure to enact a guaranteed income program, both the number of recipients and the amount of money spent on welfare programs increased substantially during the 1970’s (Rank, 2004). Rank (2004) has given an overview of Reagan’s policies and noted that Reagan emphasized individual action unhampered by government interference, rejected the social engineering of the 1960’s and also supported federalism, that is, returning power to the states rather than centralizing them within the federal government. Reagan tried to address the problem and set the tone for welfare reform that occurred in 1990 during his successor’s administration. The Reagan administration thought eligibility for welfare benefits had increased so much, that many persons who were not “truly needy” were receiving benefits. The Reagan Administration opposed simultaneous receipt of wages and welfare benefits. Rather, it proposed that welfare become a safety net, providing cash assistance only for those unable to secure jobs.
The Earned Income Tax Credit (EITC), enacted in 1975, provides families of the working poor with a refundable income tax credit (i.e., the family receives a payment from the Internal Revenue Service if the credit due exceeds the income tax owed). Thus the EITC raises the effective wage of low-income families, is available to both one- and two-parent families, and does not require them to apply for welfare. The maximum EITC for a poor family was 0 in 1975 and rose to 0 by 1986 (Danziger, 1999, p. 14). The 1986 Tax Reform Act increased the EITC so that by 1990 a low-income working parent received a maximum credit of 3 (Danziger, 1999, p. 14). The number of families receiving credits increased from between 5 and 7.5 million families a year between 1975 and 1986 to more than 11 million by 1988 (Danziger, 1999, p. 14). Danziger, 1999 argues that as the expanded EITC supplements low earnings, it became easier for policy makers to emphasize welfare reform policies that could place recipients into any job, rather than training them for “good jobs.” Thus he argues that if a nonworking recipient took a low-wage job, a substantial EITC could make work pay as much as a higher-wage job would have paid in the absence of an EITC.
The Family Support Act (FSA) of 1988 expanded the scope of the AFDC program for two-parent families, instituted transitional child care and Medicaid for recipients leaving welfare for work, and added funds and required states to establish programs to move greater numbers of welfare recipients into employment. When the welfare rolls jumped in the late-1980s and early-1990s, from about 11 to about 14 million recipients, dissatisfaction with welfare again increased ( Danziger, 1999).
President Nixon identified the two main economic problems, inflation and unemployment, that justify the need for economic recovery to the American worker. Reagan has emphasized despair caused by unemployment combined with high inflation. Reagan’s rhetorical construction of welfare recipients and the welfare system was aimed at reducing anxiety among Americans caused by increasing taxes, inflation and the continuous fear of losing jobs. To end this victimization, Reagan proposed a plan for economic recovery (Rank, 2004). Apart from cutting government spending, specifically spending on social programs, Reagan also proposed to have State governments assume control of Aid to Families with Dependent Children (AFDC) and the food stamps program in exchange for the Federal Government control of Medicaid. Although this proposal failed to reach the Congressional floor, his presentation of the proposal to exchange AFDC and food stamp program with Medicaid made poverty a local concern (Mark Robert Rank, 2004).
Liberals and conservatives still disagreed on other goals of welfare-to-work programs. Liberals thought welfare reform should expand opportunities for welfare mothers to receive training and work experiences that would help them raise their families’ living standards by working more and at higher wages. Conservatives emphasized work requirements, obligations welfare mothers owed in return for government support whether or not their families’ incomes increased (Mead, 1992).
In later years President Clinton’s approach also emphasized empowerment as a way of helping welfare recipients and to accumulate more savings without being penalized and expanding the earned income tax credit (Blank, 2007). By the mid-1990s, the focus of policy concern shifted from fighting poverty to reducing welfare dependence. President Clinton’s signing of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (the PRWORA) ended the entitlement to cash assistance and dramatically changed the nature of the social safety net. The Act created the Temporary Assistance to Needy Families Program (TANF). TANF began on July 1, 1997, provides cash assistance to indigent American families with dependent children through the United States Department of Health and Human Services (The Center for American Progress Task Force on Poverty, 2007). Danziger, 1999 argues that each state can now decide which families to assist, subject only to a requirement that they receive “fair and equitable treatment.” In instituting a block grant program, the PRWORA granted states the ability to design their own systems, as long as states met a set of basic federal requirements. The bill’s emphasis on ending welfare as an entitlement program, places a lifetime limit of five years on benefits paid by federal funds, and also aims to encourage two-parent families and discourages out-of-wedlock births. In granting states wider latitude for designing their own programs, some states have decided to place additional requirements on recipients. Although the law placed a time limit for benefits supported by federal funds of no more than 2 consecutive years and no more than 5 years over a lifetime, some states have enacted more stringent limits. All states, however, have allowed exceptions with the intent of not punishing children because their parents have gone over the time limit. Federal requirements have ensured some measure of uniformity across states, but the block grant approach has led individual states to distribute federal money in different ways. Certain states more actively encourage education, others use the money to help fund private enterprises helping job seekers. The PRWORA offers no opportunity to work in exchange for welfare benefits when a recipient reaches her lifetime limit of 60 months of federally-supported cash assistance. But the reform has certain limits. States may not use federal block grant funds to provide more than a cumulative lifetime total of 60 months of cash assistance to any welfare recipient, no matter how willing she might be to work for her benefits, and they have the option to set shorter time limits. States can grant exceptions to the lifetime limit and continue to use federal funds for up to 20 percent of the caseload. The extent of work expectations has also been increased. Single-parent recipients with no children under age one will be expected to work at least 30 hours per week by FY 2002 in order to maintain eligibility for cash assistance (Danziger, 1999, p 20). States can require participation in work or work-related activities regardless of the age of the youngest child. Thus PRWORA emerged from research that sought both to reduce poverty and welfare dependency (Danziger, 1999). In the 1990s, following Clinton’s call to “end welfare as we know it,” policy makers escalated their demands for recipients to work and reduced government obligations toward and funds to serve them (Danziger, 1999).
When Bush took office in 2001, the U.S. was experiencing a national surplus, unemployment and poverty had been on the decline for years, and the economy was booming. Now, almost six years later, poverty is on the rise, healthcare coverage is on the decline, and the country is faced with the largest national deficit in history. Lower middle class families are slowly slipping below the poverty line and the poorest are becoming even more destitute. Most of these families are headed by women.
President Bush has extended the TANF. There has been a general economic stimulus policy initiative during the Bush administration but nothing targeting low income Americans has been enacted. President Bush signed the economic stimulus package (H.R. 5140) into law with the hope that it will provide a much-needed boost to the lagging economy. The package includes tax rebates for individuals, tax breaks for businesses, and a temporary increase of the Federal Housing Administration loans from 7,000 to 9,750 (White House report, 2008). More than 130 million people are expected to get tax rebates ranging from 0 to ,200 per household for individuals earning ,000 or less and couples earning up to 0,000 (White House report, 2008). While the stimulus package will provide much needed financial help to millions of people, it fails to target those most in need as it will not include an extension of unemployment benefits, energy assistance, food stamp benefits, or fiscal relief to states for Medicaid.
From the above analysis, the question arises whether poor are responsible for their own condition. The above analysis implies that recipients become dependent and lethargic due to vast welfare measures. Scholars such as Murray (1984) and Kilty and Segal (2006) have emphasized on individual factors. They argue that welfare measures and lack of spirit and motivation among indigents contribute poverty. Danziger, 1999 argues that during the Nixon era increased welfare measures encouraged idleness. Kilty and Segal, 2006 also argues that poor people can come out into a state of self-sufficiency from dependency by learning proper work attitude and skills. Kilty and Segal, 2006 argue the importance of welfare reform and a ‘tough love’ approach would ultimately help the poor by making them conscious of their condition and forcing them to take their own responsibility. Bill Clinton’s emphasis on ‘personal responsibility’ and measures to ‘end welfare as we know it’ in 1992 all supports the above argument.
Due to the implementation of TANF, the numbers of people on welfare have decreased. As a result more funds are accumulated. In 1996 the number of ADFC recipients was 12,644,076 while in 2001, the number of TANF recipients was 5,91, 811 and the poverty rate also reduced from 13.7 to 11.3 ( Kilty and Segal, 2006) and while in 2008 it is 1,628,422 ( US Dept of Health and Human Services). The share of single mothers on welfare (based on administrative caseload counts divided by population numbers) rose from 38 percent in 1969 to 48 percent in 1980, but had fallen to 30 percent by 1998 ( Kilty and Segal, 2006). These caseload changes are widespread, with every state in the country experiencing substantial caseload decline. This decline has been widely hailed by politicians as an indication that policies designed to reduce dependence on public assistance and move less-skilled adults into the labor market have been extremely effective ( Blank, 2007). But however Blank argues that declines in welfare do not affect the poverty rate. The poverty rate in 2007 was 12.5 percent, increasing slightly from its level of 12.3 percent in 2006. The poverty rate increased for four straight years from 2000 to 2004. In 2007, the poverty rate was 1.2 percentage points higher than it was in 2000 (Blank, 2007).
States welfare initiatives
Most states took a significant decision about reform, and this decision was sensible in light of state goals and experience. A few states did not seriously make reform policy. New York was so deeply divided that it took no serious decisions about AFDC (Mead, 2002). Alabama and Missouri were pushed into reform by federal action and appeared to have little welfare policy of their own (Mead, 2002). In several other Southern states (Florida, North Carolina), policymaking appeared to be casual and personalized, with the governor or legislators offering reform plans with, apparently, little inquiry or evidence behind them( Mead, 2002) . Texas policymaking was incoherent as the state claimed to pursue work first but based its policy on an experimental program and focused far more on education and training (Mead, 2002). States have always emphasized on reform. But sometimes lower contribution towards these plans result in total failure of the program. Mead (2002) argues that in Florida and Georgia, however, officialdom was dragged into reform but showed little commitment to it. In Arizona and California, the agency or major localities had been heavily committed to a skills-oriented approach to welfare and resisted the shift toward work first. In Texas, welfare reform was a lower priority to administrators than rebuilding non-welfare employment programs and other initiatives. In Colorado and New Jersey, local agencies had a history of defiance toward the state government, and this prevented them from fully endorsing reforms decided in the capital. Mead (2002) argues that inspite of establishment of Employment Service (ES), a federally-funded job placement agency, and training programs under the federal Job Training Partnership Act (JTPA), poverty rate did not improve. After national welfare work programs were first enacted in 1967, the ES engaged in welfare practices. But because the ES’s routine stressed serving job seekers who came to it voluntarily, it generally performed poorly with welfare clients (Mead, 2002). These jobseekers came to it on a mandatory basis, as a condition of receiving aid. To succeed with them, the agency had to enforce work but also support employment with special services. The ES often found both these roles uncongenial (Mead, 2002). The ES was denoted to the role of contractor to welfare and later in 1988 the Workforce Investment Act (WIA) merged the ES, JTPA, and other non-welfare work programs. But this merging also created confusion. The problems included lack of clear procedures to refer clients to WIA, to serve them there, or to report results back to welfare. The states that lacked coordination and inadequate management information systems (MIS) were Massachusetts, Rhode Island, Tennessee, Washington, West Virginia, Florida, Georgia, and Tennessee.
Colorado’s public reform has been associated with decline in poverty rate. By the close of 2000, Colorado’s unemployment rate dropped to 2.6 percent, personal income showed steady gains, state welfare cases declined dramatically, and State legislators wrestled with an estimated 3 million revenue surplus (Colorado Fiscal Policy Institute, 2001). But inspite of all the above facts poverty still persists as expenses like child care, out-of-pocket medical expenses and geo-graphic differences in housing costs increased. The increases occurred even after adjusting for income support such as tax relief, food stamps and school lunch programs, housing subsidies and energy assistance. A report published in 2001 by the Colorado Fiscal Policy Institute determined that a single parent with two small children living in Denver County would need to earn an annual salary of approximately ,924 in order to meet their basic needs such as housing, food, health care, childcare and transportation without public or private assistance. Even child poverty rate is high in Colorado. About 180,000 children, 15.7 percent of the state total was living in poverty in Colorado in 2006, a 73 percent increase since 2000 (Frosch, 2008). The state of Colorado purchases childcare for income eligible families through the Colorado Child Care Assistance Program (CCCAP). The state allows individual counties to set the purchase price of childcare and make payments to providers from a combination of parental fees and federal, state and county funds. However, the Colorado Office of Resource and Referral Agencies (CORRA) found in a 2001 study that the average county payment fell below 75 percent of market value (Colorado Fiscal Policy Institute, 2001, pp 9). As a result counties forced providers to subsidize the cost of service to low-income families, which many were simply unwilling to do when limited slots could be filled with families that could afford to pay full rates. Other providers that chose not to simply refuse service to CCCAP families saved money by limiting the number of children on CCCAP that they would accept, cutting programs, or reducing workers’ wages. All of these actions limited availability and sacrificed quality of care to low-income children. Poverty still exists in Colorado despite initiatives to alleviate poverty as too many working families lives with incomes below the poverty line and more families earn wages simply too low to afford their basic needs. The Colorado government started the Common Good Caucus in 2007 to develop a 2009 agenda, emphasizing on K-12 education and determined to bring technologies out of the laboratory and into the marketplace by investing .5 million dollars in bioscience industry, supporting the Clean Energy fund to reduce high family utility costs , creating the Colorado Solar Incentive Program with million to provide rebates for photovoltaic and solar thermal systems to help Coloradans join the new energy economy and cut their utility bills ( State Rep. Kerr Andy, 2008). Poor people cannot pay the full cost of heating and lighting their homes. Governments and social service agencies have long assisted low-income ratepayers in paying their bills through such programs as the Low Income Home Energy Assistance Program (LIHEAP), charitable fuel funds, levelized billing, discounts, home weatherization, energy efficiency, energy usage education and debt management. If all Americans live in weatherized and energy efficient homes and have the income to pay their full share of utility bills, all other ratepayers would save nearly billion in poverty costs, including fuel assistance, lifeline and other rate assistance, weatherization and efficiency costs, the costs of late payments and service disconnections (Oppenheim and MacGregor, 2007).
Recommendations
From the above analysis it is clear that poverty remains pervasive due to the economic system, social stratification and welfare measures. According to Iceland (2003) on one hand, economic growth and technological changes contribute to increase in wages and overall standard of living. Economic growth accompanied by rising education levels improves the condition of people. On the other hand, the market economy often exerts a contrary effect on poverty levels (Iceland, 2003). To maximize profits, businesses usually seek to pay low wage to workers which increase inequality and poverty. Again policy may increase or decrease the harmful effects of inequality. Combining the factors emphasized by both liberals and conservatives, poverty is multifaceted. I believe that a strong national effort would alleviate poverty. Employment opportunities for all so that that worker and their families can avoid poverty, meet basic needs and save for the future. Increasing hourly wages would definitely improve the condition of these people. A smaller share of unemployed low-wage workers, receive unemployment insurance benefits. I believe that states (with federal help) should reform “monetary eligibility” rules that screen out low-wage workers, broaden eligibility for part-time workers and workers who have lost employment as a result of compelling family circumstances. Workers should use this period of unemployment and the money received from the Unemployment Insurance System and upgrade their skills and qualifications. Thus adults should have opportunities throughout their lives to connect to work, get more education, and live in a good neighborhood and move up in the workforce.
Child care assistance to low-income families and emphasis on K 12 education would definitely reduce the rate of poverty in the United States. Low-income youth hardly attend college than their higher income peers. Pell Grants play a crucial role for lower-income students. Simplification of the Pell grant application process, and encouragement of institutions to do more to raise student completion rates would definitely improve the condition. Expansion of Pell Grants would make higher education accessible to residents of each state. The states at the same time should also develop strategies to make postsecondary education affordable for all residents. Expansion of the Saver’s Credit would encourage saving for education, homeownership, and retirement. As a result all Americans would have assets that would allow them to weather periods of volatility and to have the resources that may be essential for upward economic mobility. Apart from Saver’s credit, expansion of Earned Income Tax Credit would raise incomes and helps families build assets. Thus there should be opportunity for all so that children grow up in conditions that maximize their opportunities for success.
References:
Blank Rebecca (2007); Poverty to Prosperity; Center for American task force on Poverty;
www.americanprogress.org/issues/2007/04/pdf/poverty_report.pdf – Similar pages
Colorado Statewide Homeless Count (2007), School of Public Affairs, University of Colorado, denver.www.dola.state.co.us/cdh/Publications/Winter_2007_Statewide_PIT.pdf – Similar pages
Cook Richard (2007), Poverty in America
www.globalresearch.ca/index.php?context=va&aid=5905 – 61k – Cached – Similar pages
Corley Mary Ann (2003); Poverty, Racism and Literacy; ERIC Clearinghouse on Adult Career and Vocational Education
Danziger Sheldon (1999), Welfare Reform Policy from Nixon to Clinton, Institute for for Social Research, University of Michigan.
De Navas-Walt, et al., “Income, Poverty and Health Insurance in the United States: 2005.
Diana Pearce Diana Pearce (1978) “The Feminization of Poverty: Women, Work, and Welfare,” Urban and Social Change Review.
Iceland John (2006); Poverty in America; University of California Press
Isidore Chris (2008); the Trillion-Dollar Mortgage Bomb,
money.cnn.com/2008/04/21/news/economy/fannie_freddie/?postversion=2008042103 – 66k –
James Tobin (1993); Poverty in Relation to macroeconomic Trends, Cycles and Policies; Cowles foundation discussion paper.
Retrieved from “http://www.articlesbase.com/politics-articles/anti-poverty-688499.html”
(ArticlesBase SC #688499)
Garima Dasgupta -
About the Author:
Garima Dasgupta
Graduate student
]]>
Rate this Article
vote(s)
3 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/politics-articles/anti-poverty-688499.html
Article Tags:
poverty, misery, america
Latest Politics Articles
More from Garima Dasgupta
What Albuquerque wants, Albuquerque gets — and the city and state crave high-tech jobs, especially in the renewable-energy industry. (01:53)
How to Reduce Poverty in the Developing World
Jagdish Bhagwati, professor of economics at Columbia University and senior fellow in International Economics at the Council on Foreign Relations, discusses how to reduce poverty in the developing world. (03:37)
Gerry Adams, president of Sinn Fein, explains the facts of global poverty. (02:17)
Fighting Global Poverty and AIDS
Hear from actors and actresses that are joining together to fight poverty and AIDS in Africa.
(04:05)
We need a mix of government, private and voluntary sectors, Sachs says. More Jeffrey Sachs videos are here: http://www.bigthink.com/user/jeffrey-sachs (00:46)
The poor performance of African economies and economies where the people are of colour other than whites have prompted people to ask whether poverty is a black or a colour thing.
This question about poverty being a black thing has gained credence in many circles. This question is also asked about Africa because it is the poorest continent on earth. It is a continent where for 30 years there has not been any concrete economic development compared to the rest of the world.
By:
Lord Aikins Aduseil
Educationl
Jan 19, 2009
lViews: 170
lComments: 1
GDP growth with growing poverty
As India comes close to achieving double-digit growth in her GDP her poverty also keeps growing.
By:
Proloy Bagchil
News and Society>
Economicsl
Jul 19, 2010
Are the wealthy countries really doing enough for the children worldwide? Are the governments of the poorer countries doing enough for their children?
By:
Michael Triggl
News and Society>
Causes & Organizationsl
Jan 31, 2009
USA must say good-bye to Afghanistan if it is sincere in its efforts for peace in the region. Let the people of Afghanistan live their own life.
By:
ali sukhanverl
News and Society>
Politicsl
Oct 20, 2010
Switzerland: A parasite feeding on Africa and Third world countries?
For more than half a century the Alpine nation of Switzerland has built a reputation as the world’s centre for tax evasion, fraud accounting, money laundering, racketeering, and above all a staunch ally of corrupt third world leaders and a great beneficiary of third world corruption.
By:
Lord Aikins Aduseil
Business>
International Businessl
Aug 25, 2010
Tantra As An Alternative Medicine
Most People are unclear about what Tantra really is and what it can do for you. Probably the most common view is that Tantra has some connection with Oriental religion, with uninhibited sex, and with the lovemaking positions and techniques outlined in the Kama Sutra, Hinduism’s oldest sex manual. To some, Tantra is a free-love cult, a survival of the psychedelic sixties; to others, it’s New Age spiritual sex therapy.
By:
Yogi Padma Anandl
Health>
Alternative Medicinel
Feb 27, 2009
lViews: 729
lComments: 2
A general analysis of the nature of suffering. Looking specifically at Palestinian suffering – and how it differs from most other forms found in developing countries. This anguish is unique in that it is largely rooted in anthropogenic causes – systematic oppression and relative poverty. It is essential for the international community to place external pressure on both sides of this conflict in order to mitigate such suffering without obfuscating the clear record of events.
By:
Tyler B Evansl
News and Society>
Politicsl
May 25, 2007
lViews: 145
Smile: confusion and alienation within the capitalist system
my feelings of disillusionment and alienation within the capitalist system- leading to a form of nihilism.
By:
Joe Cuthbertl
News and Society>
Politicsl
Dec 07, 2010
Movement Candidate Mr. Mukasa Richard Elected Chairman for the Ugandan Community In South Africa
Movement Candidate Mr. Mukasa Richard Elected Chairman for the Ugandan Community In South Africa
By:
Richard Mukasal
News and Society>
Politicsl
Dec 07, 2010
Injured in clashes Baramulla youth Succumbs
After battling with life for over two months, a youth who was injured during clashes in Kashmir in October this year succumbed to injuries this afternoon.
By:
Agence India Pressl
News and Society>
Politicsl
Dec 07, 2010
J&K Handicraft exhibition opens in capital
An exclusive exhibition of Handicrafts of Jammu & Kashmir “Nayab” was inaugurated by Union Minister of Health & Family Welfare Ghulam Nabi Azad, here on Tuesday.
By:
Agence India Pressl
News and Society>
Politicsl
Dec 07, 2010
Kangri-an expensive source in Kashmir
As temperature continues to decrease in the valley by every passing day, the sales of Kangri-a local parlance for an earthen pot encased in wicker- have picked up over last few days.
By:
Agence India Pressl
News and Society>
Politicsl
Dec 07, 2010
ICRISAT launches a new strategy to help end poverty in the drylands
Poverty must be ended, not only alleviated. This is the goal of a strategy launched by the India- based International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) to finally shatter the pessimism towards the drylands of developing countries which are usually propped up by external aid for economic growth.
By:
Agence India Pressl
News and Society>
Politicsl
Dec 07, 2010
How Ralph Gonsalves Damaged Economy
The Ralph Gonsalves government left nothing to chance when it comes to destroying the economy of SVG. Read this article to find out how the economic framework broke down in his rule.
By:
Edward Thomsonl
News and Society>
Politicsl
Dec 07, 2010
Wikileaks- Violations of Human Rights by the United States
Wikileaks website speaks shocking abuse of human rights by the United States and its allies. The site Wikileaks published documents contain accounts of torture and murder of 66,000 civilians in Iraq. The UN has asked the Obama administration to investigate allegations of serious violations of human rights, summary executions and war crimes brought to the surface by Wikileaks.
By:
Gaurav Virkl
News and Society>
Politicsl
Dec 07, 2010
The problem and the Kashmir issue
By:
Garima Dasguptal
News and Society>
Politicsl
Sep 14, 2009
lViews: 161
lComments: 1
Poverty
By:
Garima Dasguptal
News and Society>
Politicsl
Dec 17, 2008
lViews: 563
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
Garima Dasgupta has 2 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Causes & Organizations
Culture
Economics
Environment
Free
Journalism
Men’s Issues
Nature
Philosophy
Politics
Recycling
Weather
Women’s Issues
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
Garima Dasgupta
Graduate student
Tags: CyberCriminal, Insurance, OldsWho, Temporary, Year
Temporary Car Insurance For 21 Year Olds-Who Is The Cyber-Criminal?
Posted on 30 November 2010 by admin
Who Is The Cyber-Criminal?
Who Is The Cyber-Criminal?
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > News and Society > Culture > Who Is The Cyber-Criminal?
Who Is The Cyber-Criminal?
Posted: Mar 15, 2010 |Comments: 0
| Views: 187
|
]]>
Who Is The Cyber-Criminal?
By: Henry Omoregie
About the Author
Born on November 24 1965 in Lagos, Nigeria. Graduated with a B.Sc (Honours) degree in Psychology from the University of Ibadan, Nigeria in 1991. Has had stints in management and construction. Currently involved in Oil and Gas Consultancy
(ArticlesBase SC #1992019)
Article Source: http://www.articlesbase.com/ – Who Is The Cyber-Criminal?
In recent times, Nigerians have been tagged internet fraudsters or cyber-criminals. Sincere business proposals are turned down by potential business associates as soon as it is observed that the IP address originates from Nigeria.
In a country with purportedly the happiest people on earth, one of the most religious and stinking rich in human and natural resources, with its average citizen actually toiling it out daily to eke out, honestly in most cases, a living; it is a shocking but also an understandable allegation. Scam mails or any email’s origin can easily be identified through the internet protocol (IP) address. However, it takes two to tango. Rightly or wrongly tagged, Nigerians are just like the average earthling – faced with the vagaries of the reality of a nanosecond paced world. But how this has come to be is another matter entirely.
The internet arrived Nigeria quite late. As late as the late, late 90′s and the early 2000′s. Then, petty deception was the order of day just like in most countries especially in the western world. Naples, Italy, New York, USA, London, UK and many other locations had tales to tell of conmen and all that. Not much was heard of Cyber-crimes from anywhere near the shores of any African country since cyber-activites were virtually non-existent. No one drives a dream car without actually purchasing or owning it.
All of the earliest recorded histories of deception or conman-ship were never of Nigerian or even African dramatis personae, for that matter. According to well-informed chroniclers of this ignominious way of life, a confidence trick or confidence game (also known as a bunko, con, flim flam, gaffle, grift, hustle, scam, scheme, swindle or bamboozle) is an attempt to defraud a person or group by gaining their confidence. The victim is known as the mark, the trickster is called a confidence man, con man, confidence trickster, or con artist, and any accomplices are known as shills.
Confidence men exploit human characteristics such as greed and dishonesty, and have victimized individuals from all walks of life conman is a person who intentionally misleads another person, usually for personal financial gain. In recent history there have been a number of conmen who have really stood out for either the wealth they amassed, or the ease with which they tricked people.
The record keepers reeled out a list of 10 of the most famous con men in recent history:
1. Frank Abagnale (born in 1948)
Frank Abagnale is a former cheque con artist, forger and imposter who, for five years in the 1960s, passed bad cheques worth more than .5 million in 26 countries. His nefarious acts inspired the shooting of the recent blockbuster film ‘Catch Me If You Can’. He began carving a fraudulent niche for himself as a youth when he used his father’s Mobil card to buy car parts that he would then sell back to the gas station for a lower price. Records have it that he did not realise that his father was the one who had to foot the bill and when he was eventually confronted with the fraud, his mother sent him for four months to a juvenile correction facility.
After moving to New York, Frank lived solely on the income of his fraudulent activities. One of his most famous tricks was to print his own account number on fake bank deposit slips so that when clients of the bank deposited money, it would actually go in to his account. By the time the banks realised what had happened, Frank had taken ,000 and gone underground.
For about two years, Abagnale globe-trotted around the world for free by parading himself as a Pan Am pilot. He was able to abuse the professional courtesy of other airlines to provide free transport for competing airline pilots if they had to move to another city at short notice. Once he was nearly caught leaving a plane, but he changed his masquerade to that of a Doctor and he worked as a medical supervisor for 11 months without detection. Sometimes he worked as a lawyer and a teacher.
He was eventually caught in France and spent six months in prison there. After that he was extradited to Sweden and imprisoned for a further six months. After a successful escape whilst travelling to the United States, he was finally given 12 years in Prison. He escaped from his prison by masquerading as an undercover officer of the Bureau of Prisons. He was once again captured in New York City and returned to jail. After serving only five years of his sentence, the US Federal Government offered him his freedom in return for helping the government against fraud and scam artists without pay.
He currently runs Abagnale and Associates, a financial fraud consultancy company and is a multi-millionaire.
2. Charles Ponzi [Born: 1882; Died: 1949]
Ponzi, an Italian immigrant to the United States became one of the most famous con men in American history. While many people do not know the name Ponzi, the Ponzi Scheme is extremely well known and continues today in Internet Make Money Fast schemes. His early life is not entirely known as he was prone to fabricate stories about it. What is known is that he spent a short amount of time at University in Rome and, after dropping out, caught a boat to Boston, USA where he arrived with .50 in his pocket.
His early years in the United States were troublesome. He began working at a restaurant but was soon fired for playing tricks with the bills and shortchanging customers. His next job was working in a bank in Canada that catered for Italian immigrants. His knowledge of numbers helped him to do very well there. Unfortunately it turned out that the owner of the bank was stealing money from newly opened savings accounts to pay the interest on the interest bearing accounts and to cover bad investments. The bank owner eventually fled to Mexico and left Ponzi without a job. After writing a fraudulent cheque and spending a number of years in prison, Ponzi determined to become wealthy at any cost.
Once he had settled in to life on the outside, he discovered postal reply coupons through a letter that was sent to him from abroad. He realised that he could buy foreign coupons at massively devalued prices (because of price fixing after the war) and then resell them in the United States for a 400% profit. This was a form of arbitrage and it was legal. Ponzi began canvasses friends and acquaintances for money – promising them a 50% return or a doubling of their money in 90 days. He started his own company, the Securities Exchange Company, to promote the scheme.
The word of this great investment quickly spread and before long Ponzi was living in a luxurious mansion. He was bringing in cash at a fantastic rate, but the simplest financial analysis showed that he wasn’t making money, he was losing it rapidly. For every dollar he took in, he went more deeply into debt. As long as money kept flowing in, Ponzi would stay ahead of the eventual collapse.
People soon began to become suspicious and the press were starting to publish negative articles about him. Inevitably people were starting to demand their money. Shortly after, federal agents raided his office and shut it down. No stock of stamps was found and everyone that had invested their money with Ponzi lost every penny. It is probably that he lost tens of millions of dollars. Ponzi plead guilty of mail fraud and was sent to prison. After one escape he was returned to jail to complete his sentence. He was eventually deported back to Italy and he died there in poverty in 1949.
3. Joseph Weil [Born: 1877; Died: 1975]
Joseph “Yellow Kid” Weil was one of the most famous con men in his era. Over the course of his career he is believed to have stolen over 8 million dollars. In his first job as a collector, he realized that his co-workers were collecting their debts but keeping a little part of the money for themselves. Weil started a protection racket – offering not to report their activities in return for a small portion of what they were taking.
He also used phony oil deals, women, fixed races, and an endless list of other tricks to steal from an increasingly gullible public. He could change his persona daily to further his gains: one day he was Dr. Henri Reuel, a noted geologist who travelled around and told his hosts that he was a representative for a big oil company while draining them of the cash they gave him to “invest in fuel.” The next day he was director of the Elysium Development Company, promising land to innocent believers while robbing them in recording and abstract fees. Or he was a chemist par excellence, who had discovered how to copy dollar bills; promising to increase your fortune, he would multiply your bill’s then take the booty once the police arrived.
In his autobiography, Weil writes:
“The desire to get something for nothing has been very costly to many people who have dealt with me and with other con men,” Weil writes. “But I have found that this is the way it works. The average person, in my estimation, is ninety-nine per cent animal and one per cent human. The ninety-nine per cent that is animal causes very little trouble. But the one per cent that is human causes all our woes. When people learn — as I doubt they will — that they can’t get something for nothing, crime will diminish and we shall live in greater harmony.”
4. (Count) Victor Lustig [Born: 1890; Died: 1947]
Victor Lustig was renowned as the Man who Sold the Eiffel Tower. He was born in Bohemia but later moved to Paris where he was able to con people on his frequent journeys between Paris and New York. His first con was to show people a device that could print 0 bills. The only problem, he would tell them, is that it only prints one bill every six hours. Many people paid him enormous amounts of money (usually over ,000) for the device. In fact, the device contained two real hidden 0 bills – once they were spat out by the machine it would produce only blank paper. By the time the buyers discovered this, Lustig was well gone with their money.
In 1925, as France was recovering from the war, the upkeep of the Eiffel tower was an almost unbearable expense for the city of Paris. When Lustig read about this in a paper, he came up with his most brilliant idea. After forging government credentials, he invited six scrap metal dealers to a secret meeting in a hotel. He explained that the City could not afford to keep the tower and that they had to sell it for scrap. He told them the secrecy of the meeting and all future dealings was due to the fact that the public may become distressed at the idea of the removal of the tower.
While it seems implausible, at the time the tower was built it was meant to be temporary and this happened just 18 years after the original date for removal of the tower. Lustig took the dealers in a limousine to tour the tower. One of the dealers, Andre Poisson was convinced that the tale was legitimate and he handed over the money. When he realised he had been conned, he was too embarrassed to tell the police and Lustig escaped with the money. One month later, he returned to Paris to try the whole scam again. This time it was reported to the police but Lustig managed to escape.
At one point, Lustig convinced Al Capone to invest ,000 with him. He stored the money in a vault and returned it two months later, stating that the deal had fallen through. Capone, so impressed by Lustig’s honesty gave him ,000 for his effort. In 1934, Lustig was found guilty of counterfeiting. He plead guilty and was sentenced to 20 years in Alcatraz. In 1947 he died of pneumonia whilst in jail in Springfield, Missouri.
5. George Parker [Born: 1870; Died: 1936]
Parker was one of the most audacious con men in American history. He made his living selling New York’s public landmarks to unwary tourists. His favorite object for sale was the Brooklyn Bridge, which he sold twice a week for years. He convinced his marks that they could make a fortune by controlling access to the roadway. More than once police had to remove naive buyers from the bridge as they tried to erect toll barriers.
Other public landmarks he sold included the original Madison Square Garden, the Metropolitan Museum of Art, Grant’s Tomb, and the Statue of Liberty. George had many different methods for making his sales. When he sold Grant’s Tomb, he would often pose as the general’s grandson. He even set up a fake “office” to handle his real estate swindles. He produced impressive forged documents to prove that he was the legal owner of whatever property he was selling.
Parker was convicted of fraud three times. After his third conviction on December 17th, 1928 he was sentenced to a life term at Sing Sing Prison. He spent the last eight years of his life behind bars. He was popular among guards and fellow inmates who enjoyed hearing of his exploits. George is remembered as one of the most successful con men in the history of the United States, as well as one of history’s most talented hoaxers. His exploits have passed into popular culture, giving rise to phrases such as “and if you believe that, I have a bridge to sell you”, a popular way of expressing a belief that someone is gullible.
6. Soapy Smith [Born: 1860; Died: 1898]
Soapy Smith (born Jefferson Randolph Smith) was an American con artist and gangster who had a major hand in the organized criminal operations of Denver, Colorado, Creede, Colorado, and Skagway, Alaska from 1879 to 1898. He is perhaps the most famous “sure-thing” bunko man of the old west. Some time in the late 1870s or early 1880s, Smith began duping entire crowds with a ploy the Denver newspapers dubbed The Prize Package Soap Sell Swindle.
Jefferson would open his “tripe and keister” (display case on a tripod) on a busy street corner. Piling ordinary soap cakes onto the keister top, he would describe their wonders. As he spoke to the growing crowd of curious onlookers, he would pull out his wallet and begin wrapping paper money ranging from one dollar up to one hundred dollars, around a select few of the bars. He then finished each bar by wrapping plain paper around it to hide the money. He mixed the money-wrapped packages in with wrapped bars containing no money. He then sold the soap to the crowd for a dollar a cake.
A shill planted in the crowd would buy a bar, tear it open it, and loudly proclaim that he had won some money, waving it around for all to see. This performance had the desired effect of enticing the sale of the packages. More often than not, victims bought several bars before the sale was completed. Midway through the sale, Smith would announce that the hundred-dollar bill still remained in the pile, unpurchased. He then would auction off the remaining soap bars to the highest bidders.
Through the masterful art of manipulation and sleight-of-hand, the cakes of soap wrapped with money were hidden and replaced with packages holding no cash. It was assured that the only money “won” went to members of what became known as the “Soap Gang.” Soapy was eventually shot to death by a group he swindled in a card game.
7. Eduardo de Valfierno
Eduardo de Valfierno, who referred to himself as Marqués (marquis), was an Argentine con man who allegedly masterminded the theft of the Mona Lisa. Valfierno paid several men to steal the work of art from the Louvre, including museum employee Vincenzo Peruggia. On August 21, 1911 Peruggia hid the Mona Lisa under his coat and simply walked out the door.
Before the heist took place, Valfierno commissioned French art restorer and forger Yves Chaudron to make six copies of the Mona Lisa. The forgeries were then shipped to various parts of the world, readying them for the buyers he had lined up. Valfierno knew once the Mona Lisa was stolen it would be harder to smuggle copies past customs. After the heist the copies were delivered to their buyers, each thinking they had the original which had just been stolen for them. Because Valfierno just wanted to sell forgeries, he only needed the original Mona Lisa to disappear and never contacted Peruggia again after the crime. Eventually Peruggia was caught trying to sell the painting and it was returned to the Louvre in 1913.
8. James Hogue [Born: 1959]
Hogue is a US impostor who most famously entered Princeton University by posing as a self-taught orphan. In 1986 Hogue enrolled in a Palo Alto High School as Jay Mitchell Huntsman, a 16-year-old orphan from Nevada. He had adopted the identity of a dead infant. A suspicious local reporter exposed him. In 1988 Hogue enrolled at Princeton University using the alias Alexi Indris Santana, a self-taught orphan from Utah. He deferred admission for one year because he had been convicted of the theft of bicycle frames in Utah. Hogue claimed in his application materials that he had slept outside in the Grand Canyon, raising sheep and reading philosophers. He violated his parole to enter class. For the next two years he lived as Santana and as a member of the track team. He was also admitted into the Ivy Club.
In 1991 Hogue’s real identity was exposed when Renee Pacheco, a student from the Palo Alto High School, recognized him. He was arrested for defrauding the university for ,000 in financial aid and sentenced to three years in jail with 5 years probation and 100 hours of community service.
On May 16, 1993 Hogue made headlines again through his association with Harvard University. Having lied about his identity again, he was able to take a job as a security guard in one of Harvard’s on campus museums. A few months into his tenure, museum officials noticed that several gemstones on exhibit had been replaced with inexpensive fakes. Somerville police seized Hogue in his home and charged him with grand larceny to the tune of ,000.
On March 12, 2007 Hogue pleaded guilty to a single felony count of theft of more than ,000 in exchange for a prison sentence not to exceed 10 years, and prosecutors’ agreement to drop other theft and habitual criminal charges.
9. Robert Hendy-Freegard [Born: 1971]
Robert Hendy-Freegard is a British barman, car salesman, conman and impostor who masqueraded as an MI5 agent and fooled several people to go underground for fear of IRA assassination. He met his victims on social occasions or as customers in the pub or car dealership where he was working. He would reveal his “role” as an undercover agent for MI5, Special Branch or Scotland Yard working against the IRA. He would win them over, ask for money and make them do his bidding. He demanded that they cut off contact with family and friends, go through “loyalty tests” and live alone in poor conditions. He seduced five women, claiming that he wanted to marry them. Initially some of the victims refused to co-operate with the police because he had warned them that police would be double agents or MI5 agents performing another “loyalty test”.
Hendy-Freegard also seduced a newly married personal assistant who was taking care of his children. He told her he was with MI5 and forced her to cut contact with friends and family lest the IRA would kill her. He also took naked pictures of her and threatened to give them to her husband if she would not cooperate. She had to change her name and tell the deed poll officer it was because she was sexually abused as a child. Her loyalty tests included sleeping in Heathrow airport and on park benches for several nights and pretending to be a Jehovah’s Witness so that his bosses in MI5 would let them marry.
In 2002 Scotland Yard and the FBI organized a sting operation. First, the FBI bugged the phone of the American psychologist’s parents. Her mother told Hendy-Freegard she would hand over £10,000 but only in person. Hendy-Freegard met the mother in Heathrow airport where police apprehended him. He denied all charges and claimed they were part of a conspiracy against him and continued this story in the subsequent trial. On June 23, 2005, after an eight month trial, Blackfriars Crown Court convicted Robert Hendy-Freegard for two counts of kidnapping, 10 of theft and 8 of deception. On September 6, 2005 he was given a life sentence. Police doubt that they have discovered all the victims. On April 25, 2007, the BBC reported that Robert Hendy-Freegard had appealed against his kidnapping convictions and won. This means that the life sentence is revoked but he will still serve nine years for the other offences. He could be free by the end of 2007.
10. Bernard Cornfeld [Born: 1927; Died: 1995]
Bernard Cornfeld was a prominent businessman and international financier who sold investments in US mutual funds. He was born in Turkey. When he moved to the US, he first worked as a social worker but became a mutual fund salesman in the 1950s. Although he suffered from a stammer, he had a natural gift for selling and when a schoolfriend’s father died, the two of them used the ,000 insurance money to purchase and run an age and weight guessing stand at the Coney Island funfair.
In the 1960s, Cornfeld formed his own mutual fund selling company, Investors Overseas Services (IOS), which he incorporated outside the US with funds in Canada and headquarters in Geneva, Switzerland. Although the headquarters were offcially in Geneva, the main operational offices of IOS were in Ferney-Voltaire, France, a short drive from the Swiss border to Geneva—this was simply a means of avoiding the problems of obtaining Swiss work-permits for the many employees. During the next ten years, IOS raised in excess of .5 billion, bringing Cornfeld a personal fortune of more than 0 million. Cornfeld himself became known for conspicuous consumption with lavish parties. Socially, he was generous and jovial.
A group of 300 IOS employees complained to the Swiss authorities that Cornfeld and his co-founders pocketed part of the proceeds of a share issue raised among employees in 1969. Consequently he was charged with fraud in 1973 by the Swiss authorities. When Cornfeld visited Geneva, Swiss authorities arrested him. He served 11 months in a Swiss jail before being freed on a bail surety of 0,000. He returned to Beverly Hills, living less ostentatiously than in his previous years. He developed an obsession for health foods and vitamins, renounced red meat and seldom drank alcohol. He suffered a stroke and died of a cerebral aneurysm on 27th February 1995 in London, England.
The great grandfather of all scammers in history is Bernard Madoff, mastermind of the largest investment scam. This report by Reuters is about his trial and conviction:
“Bernard Madoff was sentenced on Monday to 150 years in prison — the maximum penalty the judge could give him for “extraordinarily evil” crimes in Wall Street’s biggest and most brazen investment fraud”.
It goes:
“Fleeced investors in the courtroom cheered and applauded as the judge handed down the penalty.
Madoff, 71, stood passively with his hands clasped at his waist, showing no reaction when he heard the sentence that will send him to prison for the rest of his life.
The former nonexecutive chairman of the Nasdaq stock market has been jailed in a Manhattan cell since he pleaded guilty to 11 charges including securities fraud, money laundering and perjury in March.
“Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil,” U.S. District Judge Denny Chin said in rejecting defense pleas for a lenient, 12-year sentence. “The breach of trust was massive.
“I simply do not get the sense that Mr. Madoff has done all that he could or told all that he knows.”
The gray-haired money manager was dressed in his signature dark gray suit, white shirt and tie instead of a prison jumpsuit.
The disgraced financier sat passively throughout the hour-and-a-half hearing as his victims called him a “beast,” an “animal” and a “lowlife.”
He apologized to them, at one point turning toward the 250 people in the courtroom.
“I will live with this pain, with this torment, for the rest of my life,” he calmly said. “I live in a tormented state knowing the pain and suffering I have created.”
Madoff, who has been accused of bilking investors worldwide out of as much as billion, said, “In my business, when you make a trading error, you’re expected to make a trading error, it’s accepted. My error was much more serious. I made an error of judgment.”
CAUGHT OUT BY FINANCIAL CRISIS
Madoff’s December arrest came as investors were feeling the brunt of the worst financial crisis since the 1930s Great Depression.
The case has triggered widespread criticism of the U.S. Securities and Exchange Commission, which has been accused of missing red flags that could have brought the curtain down on his asset management business.
It was not known where Madoff will serve his sentence for what prosecutors described as a worldwide fraud of small and wealthy investors, charities and financial institutions.
Judge Chin heard wrenching statements from nine of Madoff’s victims, some of whom said they had lost their life savings, were forced to sell their homes, or had to apply for government assistance to buy food.
“I only hope that his prison sentence is long enough so that his jail cell will become his coffin,” said Michael Schwartz, 33, who said his family had been robbed of savings earmarked for the care of his mentally disabled brother.
The White House said that the judge had sent a strong signal to those who handle other people’s money.
“My guess is that that message will be heard loud and clear,” said President Barack Obama’s spokesman Robert Gibbs.
Madoff was arrested in December after his two sons told authorities that he had confessed to them that his investment empire was a sham.
Prosecutors have said that Bernard L. Madoff Investment Securities showed billion in customer accounts weeks before his arrest, but the trustee winding down the firm has so far only been able to collect .2 billion to return to investors.
As much as 0 billion flowed through the principle Madoff account over decades. Madoff was symbolically ordered to pay that amount in restitution.
While a much lower sentence would have sent Madoff to prison for life, Chin said he deserved the maximum, typically handed down to organized crime bosses.
“The fraud here was staggering,” the judge said.
One law professor said she was surprised by the sentence but uncertain whether it would serve as a deterrent.
“I’d love to think that the mini-Madoffs out there would think that what happened today has something to do with them, but I suspect most of them do not,” said Jayne Barnard of the College of William and Mary in Williamsburg, Virginia.
Madoff’s lawyer said no decision had been made on whether to appeal the sentence.
None of Madoff’s relatives came to court. They have not attended any of his prior court appearances.
The judge said he had not received a single letter on Madoff’s behalf, testifying to any good deeds or charitable works. “The absence of such support is telling,” Chin said.
Madoff’s wife Ruth, 68, has not been charged with any crimes but she has been vilified by defrauded investors, shunned by friends, and pursued by the media. Breaking her long silence, she said in a statement on Monday that she had been “betrayed and confused” by her husband’s scam.
“From the moment I learned from my husband that he had committed an enormous fraud, I have had two thoughts — first, that so many people who trusted him would be ruined financially and emotionally, and, second, that my life with the man I have known for over 50 years was over,” she said.
Madoff has said he acted alone. The only other person charged criminally is his outside accountant.
Madoff’s brother, Peter, and his sons, Mark and Andrew, were executives in his firm’s brokerage unit. They have said that they were not aware of or involved in the crooked asset management side.
Madoff and his wife have agreed to the sale of three luxury properties and other assets and valuables. Proceeds from asset sales will be distributed to defrauded investors.
Ruth Madoff will be left with .5 million, after forfeiting claim to some million in assets including the couple’s Manhattan penthouse apartment.
Madoff told investors in the courtroom that he could offer no excuses, saying he tried to undo his crimes but “the harder I tried, the deeper a hole I dug for myself.”
Investors said the apologies left them cold.
“There’s something very pathological. He is still making excuses for himself,” said George Nierenberg, 57.
(Reporting by Grant McCool, Martha Graybow, Daniel Trotta, Mike Erman and Christine Kearney; Editing by John Wallace, Toni Reinhold)”
The scam stuff gets on our collective nerves so much that sincere business proposals don’t get a look-in by most foreign prospects once the IP address shows Nigeria: But one fact remains – victims of scams are either greedy, or gullible and commensurately criminally minded 2 fall 4 such schemes. The victim also willy-nilly by acceptance of the get-rich-quick proposals, perpetrates the crime as an unlikely (?) accomplice.
According to Wikipedia, “The first known usage of the term “confidence man” in English was in 1849; it was used by American press during the United States trial of William Thompson. Thompson chatted with strangers until he asked if they had the confidence to lend him their watches, whereupon he would walk off with the watch; he was captured when a victim recognized him on the street”.
The respected online encyclopedia further explains: “Confidence tricks exploit typical human qualities such as greed, dishonesty, vanity, honesty, compassion, credulity and naïveté. The common factor is that the mark relies on the good faith of the con artist. Just as there is no typical profile for swindlers, neither is there one for their victims. Virtually anyone can fall prey to fraudulent crimes.
Certainly victims of high-yield investment frauds may possess a level of greed which exceeds their caution as well as a willingness to believe what they want to believe. However, not all fraud victims are greedy, risk-taking, self-deceptive individuals looking to make a quick dollar. Nor are all fraud victims naïve, uneducated, or elderly. A greedy or dishonest mark may attempt to out-cheat the con artist, only to discover that he or she has been manipulated into losing from the very beginning. This is such a general principle in confidence tricks that there is a saying among con men that “you can’t cheat an honest man.”
The confidence trickster often works with one or more accomplices called shills, who help manipulate the mark into accepting the con man’s plan. In a traditional confidence trick, the mark is led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be strangers who have benefited from performing the task in the past.
Wikipedia also listed its own record of World renowned con artists, some of them were mentioned in previous paragraphs above, and obviously none of them was Nigerian or even African for that matter:
Notable con artists
Born in the 18th century
Gregor MacGregor (1786–1845) – Scottish conman who tried to attract investment and settlers for a non-existent country of Poyais.
Born or active in the 19th century
Lou Blonger (1849–1924) – organized massive ring of con men in Denver in early 1900s.
Helga de la Brache (1817-1885)
Horace de Vere Cole (1881–1936)
Canada Bill Jones – riverboat gambler and card sharp
Victor Lustig (1890–1947) – born in Bohemia (today’s Czech Republic) and known as “the man who sold the Eiffel Tower”.
George C. Parker (1870–1936) — U.S. con man who sold New York monuments to tourists.
Charles Ponzi (1882–1949) – “Ponzi scheme” is a “get rich fast” fraud named after him.
Death Valley Scotty (1872–1954) prospector, performer, and con man, famous for gold mining scams and the mansion in Death Valley known as Scotty’s Castle.
Soapy Smith (1860–1898) — confidence gang boss, who operated in Denver, Colorado; Creede, Colorado; and Skagway, Alaska
William Thompson (active in 1840–1849) – U.S. criminal whose deceptions caused the term confidence man to be coined.
Joseph Weil (1875–1976) – one of the most famous American con men of his era.
Cassie Chadwick (1857–1907) — defrauded several U.S. banks out of millions of dollars by claiming to be an illegitimate daughter and heiress of Andrew Carnegie.
Born or active in the 20th century
Bernie Cornfeld (1927–1995) – ran the Investors Overseas Service, alleged to be a Ponzi scheme.
Richard Eaton (1937–1979) – con artist, saloon owner, and general manager of Moo Moo Vedda’s dress factory and an associate of the Lucchese crime family.
David Hampton (1964–2003) – Inspiration for the play and film Six Degrees of Separation
Konrad Kujau (1938–2000) – German forger of the supposed Hitler Diaries.
Eduardo de Valfierno – Argentine conman who allegedly masterminded the theft of the Mona Lisa in 1911.
Living people
Frank Abagnale (1948) — U.S. cheque forger and impostor; his autobiography, Catch Me If You Can, was made into a movie.
Peter Foster (1962) — Australian conman with convictions and imprisonment on three continents for fraud and money laundering, known for the Bai Lin slimming tea scam and involvement in property transactions with Cherie Blair.
Christian Karl Gerhartsreiter (1961) — Bavarian-born con artist who, for nearly two decades, claimed to be a member of the wealthy Rockefeller family.
Robert Hendy-Freegard (1971) — Briton who kidnapped people by impersonating an MI5 agent and conned them out of money.
James Arthur Hogue (1959) — U.S. impostor who most famously entered Princeton University by posing as a self-taught orphan.
Clifford Irving (1930) — U.S. writer, best known for a false “authorized autobiography” of Howard Hughes.
Samuel Israel III (1959) — Ran the former fraudulent Bayou Hedge Fund Group; faked suicide.
Bon Levi (1943) — Aka Ron the Con and Ronald Frederick. Arguably Australia’s most notorious conman who tricked Australian and U.S. citizens into investing in scam franchise businesses. He has been jailed both in Australia and the United States.
Bernard Lawrence Madoff (1938) — American former chairman of the NASDAQ stock market who admitted running a world-record billion Ponzi scheme. Headed the hedge fund Bernard L. Madoff Investment Securities LLC until his arrest in 2008. In March 2009 he pled guilty to 11 federal crimes.
Matt the Knife (1981) — American-born card cheat and pickpocket who bilked corporations, casinos, and at least one Mafia crime family.
Barry Minkow (1967) — American entrepreneur. His company, ZZZZ Best, cost investors an estimated 0 million before he served seven years in prison for fraud and other offenses.
Semion Mogilevich (1946) — is a billionaire organized crime boss and a global con artist believed by European and United States federal law enforcement agencies to be the “boss of bosses” of most Russian Mafia syndicates in the world.
Lou Pearlman (1954) — U.S. businessman and manager of boy bands, sentenced to 25 years for operating a Ponzi investment scheme.
Casey Serin (1982) — Self-confessed mortgage fraudster who became the “poster child” of the housing bubble.
Solomon Dwek (c.1973) Syrian-Jewish Orthodox rabbi and real estate investor from Deal, New Jersey who pleaded guilty to a ,000,000 bank fraud involving PNC Bank.
Michael Sabo (1945) Best known for his history as a check, stocks and bonds forger. He became notorious in the 1960s and throughout the 1990s as a “Great Impostor”, and was featured on national TV, had over 100 aliases, and earned millions.
With the foregoing, it will be unreasonable to stigmatise Nigerians for the criminal enculturation by the western world in almost virtually every aspect of contemporary life. Western movies bring into Nigerian and African homes all sorts of immoralities hitherto alien to them. People wear three-piece suits in hot weather and recently lots of scammers have started using Religion to actualise their scamming thought-processes. Well it is not a surprise to yours truly as Jesus already warned us two millennia ago that “in the last days, many shall come to deceive many in my name”. Now we are seeing the many, and most of them are not Nigerians. But why treat them with such ignominy?
As noted earlier, the internet and mobile technology arrived these shores the late 90′s. Before then, western deceivers continued to cheat people through various schemes and were not as maligned as Nigerians. They hacked computer systems with viruses and did other untoward things against humanity. 95% of Nigerians do not have access to the internet but we hear of mind-boggling internet fraud schemes being attributed to Nigerians.
Many of such emails are also sent to most of us (Nigerians) but we ignore them without batting an eyelid.
For instance, you get a scam mail saying you just won the sweepstakes and blah blah blah. You knew you never played any game and you fall for it. That’s greed and trying to reap where one did not sow. Or someone sends a mail saying someone else died and left money in a fictitious bank account and needs your help to get it out into yours. I wouldn’t buy that idea for half a cent because I am not greedy. In my little research I found out that these scam schemes are actually inherited from the western world itself. Its just like the back-to-sender syndrome. What is more, we hear these days of the Madoffs of this world whose loot alone surpassed the entire loot of the so-called Nigerian scam artists. 0.001% of Nigerians unlike most parts of the Western world are actually involved in it in any way. Their ability to send bulk mail to millions at the touch of button does not make the average Nigerian a scammer much as the singular act of Umar Farouk Abdulmutallab’s action on Christmas Day 2009 does not make all Nigerians terrorists or suicide bombers.
The real, average Nigerian is hardworking and strives daily to earn his keep. The world in most cases thinks of people and places they’ve never been as a representation of what they get from their news sources.
My advise to scam-phobics is simple: Never attempt to get into a building through the windows when the door is wide open. Greed and selfishness is a sine-qua-non for being a scam victim.
I rest my case for now.
PS
This testimony about the real Nigerian was inboxed to me by a Caucasian American, and one of my friends on Facebook:
15 March at 14:54
Hi Henry – Thanks for telling me about the fan page. Yes, I know and understand that – it is a shame that some have not known any Nigerians and have wrong/ignorant assumtions about them. There are swindlers and hustlers from everywhere, and we are to pray for the Lord’s protection from such evil people. I have been used and scammed in person by people in real life, even just recently here in Montana, and none of them were ever Nigerians.
I used to live in southern California and my son had a medical emergency. In order to pay for it I had to refinance the house my mom had just left me as she had just died. I called every mortgage company I could find. I lived in Orange County (I hated it there, was not originally from there- nasty people) and I called companies in Los Angeles, and Ventura counties as well. Any companies I could find. I had just declared bankruptcy.
Finally, I reached a company in Thousand Oaks, CA. They all had British accents. They were the only company out of thousands who would help me. To help me they had to trust me. They were also Christians. I shared with them the condition of my son, and also that the Children’s Services were threatening to take my kids away because I could not find a doctor who knew how to work on him – he had/has a very rare condition (that is how we ended up in Montana).
They refiananced my home. I had to pay 6 thousand dollars to an attorney just to keep my son at home. It was ridiculous Henry as his problem was with his knee and their main complaint was that he was overweight. It was not life threatening in anyway and I had already taken him to 10 different doctors and had the proof!
Then they refinanced it again!! They said it would not be easy as with my bankruptcy, and already having a loan on it, they would have to find a private party. I pleaded with them and told them my case and what was happening with my son. He shared with me that they were Christians also.
Everyone in the office was so kind to me. They all said they were praying for me and my children.
I finally sold the home as the only surgeon I could find who knew how to work on my son was up here in Montana.
On my way out of California, I drove by their office. I wanted to thank them in person for all they had done for us. Their trust and kindness kept my family together. They were also very fair with their rates and business dealings.
I stopped and went in, and was so surprised they were all from Africa, from Nigeria. They had been educated in England. And the owner’s wife to this day remains the most beautiful African woman I have ever seen in my life. She was wearing tradtitional Nigerian clothing.
Henry, those people were my angels here on this earth. My parents were passed on from cancer, my brother was a drug addict (he is clean now and has found the Lord, praise God), my husband ran off to be a bum on a train (true story) and his family, who were wealthy, did not care if my children were dead or alive.
These Nigerians saved my family – my children – the most precious thing on the face of this earth to me. I will never, ever, ever forget what they did for me and my children. I am so grateful to God for them.
Also, i have met wonderful Nigerian people here on facebook.
Thanks for hearing this story. God Bless you!!
Sincerely,
(Name withheld)
Retrieved from “http://www.articlesbase.com/culture-articles/who-is-the-cybercriminal-1992019.html”
(ArticlesBase SC #1992019)
Henry Omoregie -
About the Author:
Born on November 24 1965 in Lagos, Nigeria. Graduated with a B.Sc (Honours) degree in Psychology from the University of Ibadan, Nigeria in 1991. Has had stints in management and construction. Currently involved in Oil and Gas Consultancy
]]>
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/culture-articles/who-is-the-cybercriminal-1992019.html
Article Tags:
cybercrime, scams, nigerian, internet fraud
Latest Culture Articles
More from Henry Omoregie
Tips and advice for personal finance from the Dolans. This video focus’ on common money mistakes made by people. (05:27)
Better hits the streets to get the latest in money saving tips from different people of all walks of life. (01:53)
Saving Money on Holiday Decorations
We have been talking a lot about ways to cut back on spending this holiday season-and a lot of people think one great way to save is with the decor. Lifestyle expert, Susie Coelho, says you have to put your creativity to the test, and she is here to show us how. (03:39)
10 Ways to Make Some Extra Money
Due to the economy and the threats of recession I decided to put together 10 ways that you can make some extra money. Hey, I understand that finances are tight right now and that many people are scared about paying their bills, job security and the financial status of America. So I wanted to put together these ten tips to help ease your mind, and to spark your creativity so you can be relieved of some of your stress.
(03:30)
Why are some people affected by stress more than others? Dava Money discusses the many issues surrounding stress causes and management. (00:35)
Fighting Email Scams and Turning the Tide
What one blogger is doing to fight email scams, and it’s not what you think.
By:
Chef Jeffrey Allen Kaufmanl
Protect yourself From Asian Dating Scams
Looking for your true Asian love on the internet? Interested in meeting the Asian beauty of your dreams? Searching far and wide on your computer for that sexy Asian lady you’ve always wanted?
By:
Sharon Belll
Relationships>
Datingl
Feb 06, 2008
lViews: 813
According to the Internet Crime Complaint Center (IC3), cyber crime was up in 2008, and if the first few months of 2009 is anything to go by, this trend is not only continuing, it is accelerating.
As the country slides into recession, early indicators for 2009—February to March 2009—shows an additional 50% increase in reported Internet fraud complaints.
By:
Ulf Wolfl
Internet>
ECommercel
May 13, 2009
New Year 2011 – Celebrations in Full Swing
This new year is a beginning in more ways than one. Not only is it the start of another year but also another decade. It is the time for celebrations, merry making, music, dance, food, family time and gifts galore. New Year 2011 falls on a Saturday, a weekend and thus promises to be more exciting and celebratory an affair than any other.
By:
dipanegil
News and Society>
Culturel
Nov 29, 2010
Am I The Only One Wondering About This?
The dictionary defines the verb wonder as to have curiosity. To be full of wonder is obviously good – it’s wonderful.
By:
Knight Pierce Hirstl
News and Society>
Culturel
Nov 29, 2010
Has Life Become Stress Fractured?
The dictionary defines stress as a) mental or physical tension b) urgency, pressure, etc. causing this. However, the definition doesn’t sound stressful enough.
By:
Knight Pierce Hirstl
News and Society>
Culturel
Nov 28, 2010
Gender identity is how an individual identify himself or herself socially.
By:
Travisl
News and Society>
Culturel
Nov 28, 2010
Intersex is a condition where an individual is born with sexual anatomy of both sexes.
By:
Travisl
News and Society>
Culturel
Nov 28, 2010
The Main Reasons Why Arabs Have Communication Problems In Estonia
We all know that our success in life depends in a great deal how good communicators we are. New immigrants often believe that just learning vocabulary and grammar makes them effective communicators and solves all the problems. However, in the long run they notice that they are still far from the standard of a successful communicator, they do not get better paid jobs and they do not achieve their goals. To the contrary, they have misunderstandings and conflicts everywhere.
By:
Ulle Rannut, Ph.Dl
News and Society>
Culturel
Nov 28, 2010
A brief history of the movement and the people behind it
By:
Sunphishl
News and Society>
Culturel
Nov 27, 2010
In Igboland, South-Eastern Nigeria, there has been an inexplicable craze for chieftaincy titles, especially among rich young men. It is very worrisome because it has led to other social vices.
By:
Chuks Oluigbol
News and Society>
Culturel
Nov 27, 2010
It’s The Last Days, Many Are Deceiving Many In His Name
With gratitude to God for his wisdom given unto all peoples to discern between good and evil, many are thankful for recent revelations on the greatest conmanship of two millenia, the deception of the ignorant devotee to God’s cause in the form of personal aggrandisement by latter-day preachers. People are being ripped off by the day especially in underdeveloped and developing countries through mandatory donations in the form of tithes and offerings to support God’s work.
By:
Henry Omoregiel
News and Society>
Philosophyl
Nov 14, 2010
Help! Some Nigerians are Returning Home to Join the Bandwagon
Nigeria will certainly benefit from well-meaning contributions of its returnee citizens to enhance its dwindling economic status, but will be worse off if the intentions of some other returnees are to come home, add to our woes and retreat back to pay off their debts, still leaving us in the journey to the land of Erehwon!
By:
Henry Omoregiel
News and Society>
Economicsl
Aug 08, 2010
Growing Up In Nigeria: Then and Now
For Nigerians born and bred between 1963 and 1983 in Nigeria, it was a potpourri of experiences growing up. Depending on where they were and regardless of their socioeconomic statuses, they saw things work as they were said and meant to work.
By:
Henry Omoregiel
News and Society>
Culturel
May 11, 2010
With the foregoing, it will be unreasonable to stigmatise Nigerians for the criminal enculturation by the western world in almost virtually every aspect of contemporary life. Western movies bring into Nigerian and African homes all sorts of immoralities hitherto alien to them. People wear three-piece suits in hot weather and recently lots of scammers have started using Religion to actualise their scamming thought-processes.
By:
Henry Omoregiel
News and Society>
Culturel
Mar 15, 2010
lViews: 187
Transition from Child- to Adult Abuse in Nigeria
Adults are also abused in Nigeria and sub-Saharan Africa, not just children. We cannot improve lives and means of livelihoods with this attitude still in place by our elders who are demi-gods for life as long as they are alive.
By:
Henry Omoregiel
Home and Family>
Parentingl
Nov 18, 2009
Achievement Vs Ascription: the Nigerian Experience
Success could be ascribed as a role or achieved through hard work. But the most important thing is the level and polarity of the impact on society.
By:
Henry Omoregiel
Self Improvement>
Psychologyl
Nov 18, 2009
lViews: 442
Safety Supervision in a Multicultural Worksite: thoughts from the NLNG Construction in Nigeria
Safety supervision on a multicultural/multiligual worksite is a challenging endeavour. However, the NLNG construction on Nigeria’s Bonny Island proved that it is possible, since safety is a global language, to save lives regardless of the extent of communication differences.
By:
Henry Omoregiel
Business>
Industriall
Nov 01, 2009
Decongesting Nigerian Cities: Stemming Rural-Urban Drift in Today’s Nigeria
Nigerian cities have got to be decongested. With overcrowding in the cities there is no way we can achieve the millenium development goals. Government must activate their thoughts in the form of policies to physical activities in the form of Relocating most of the factors of production.
By:
Henry Omoregiel
News and Society>
Environmentl
Dec 04, 2008
lViews: 172
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
Henry Omoregie has 8 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Causes & Organizations
Culture
Economics
Environment
Free
Journalism
Men’s Issues
Nature
Philosophy
Politics
Recycling
Weather
Women’s Issues
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
Born on November 24 1965 in Lagos, Nigeria. Graduated with a B.Sc (Honours) degree in Psychology from the University of Ibadan, Nigeria in 1991. Has had stints in management and construction. Currently involved in Oil and Gas Consultancy
Tags: Insurance, OldsLife, Short, Term, Year
Short Term Car Insurance For 18 Year Olds-Life Insurance FAQ
Posted on 25 November 2010 by admin
Life Insurance FAQ
Life Insurance FAQ
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Insurance > Life Insurance FAQ
Life Insurance FAQ
Posted: Dec 08, 2009 |Comments: 0
|
]]>
Ask a question
Ask our experts your Insurance related questions here…200 Characters left
Related Questions
What other type of insurance i can sell with my life insurance license?
I have a policy already through liberty life insurance how do i look it up on the internet
I am wondering if i can purchase life insurance on my husband incase of death to cover cost of bills for myself and children
Can you be denied life insurance because of a felony
Life Insurance FAQ
By: insurancefaq
About the Author
InsuranceQuotesFAQ.com
(ArticlesBase SC #1552490)
Article Source: http://www.articlesbase.com/ – Life Insurance FAQ
how our condition insurance companies grasp away beside it?
ok i just watched the movie “Sicko” and i can for the life span of me figure out how our health insurance companies carry away with the stuff they do! can some one explain this. Because you watched a movie. If you watch a movie about millions of claims…
is it a well brought-up concept to receive duration insurance
is it a good idea to win life insurance at the age of 22. and if so any suggestions about a company that`s affordable Yes, the annual premium will be peanuts. But I would catch Whole Life or Universal Life instead of term. You’ll pay for a moment…
LIFE INSURANCE SCHEMES?
my friend has invested Rs.50,000/- in SBI energy insuracne( pure pension scheme)last year. for this year he received a letter from SBI for paying the second instalment of Rs.50,000/- immediately he is unable to pay the second instalment of Rs.50,000/- his query is whether he unable to pay the second instalment shall he lost the first…
,00 Insurance policy….can I brass It(Mystery)?
Hi! I Just turned 18 on July 23 & my mom died back in 2001 & she moved out me an ,000 insurance policy(all the premiums have been paid), and my grandmother have it locked away & its a whole bunch of papers & stuff. My question is can I brass & get the ,000…
“can i bring out possession insurance at my age? I am sixty-nine yrs ?
Since the insurance company are so restricted is it possible for me or anyone older then dirt-take out permanent status life insurance?,thinks for any answer!! Do you want ONE YEAR occupancy insurance, subject to a medical exam, with money no object? Sure. Are you looking…
“Dead Peasants insurance.” Is your employer betting on your existence expectancy?
From ABC News: Are ‘Dead Peasant’ Life Insurance Policies Fair?. The anchors were “stunned” to find that this is going on after watching Michael Moore’s new movie, Capitalism a Love Story. Maybe Claire Shipman wouldn’t be so surprised if they weren’t using a documentary motion picture maker as their research…
“He doesn’t take enthusiasm insurance, merely fire insurance-he know where on earth he’s going” manner?
He with the sole purpose cares about what he have here on earth. Not what he leaves behind after he is gone. He know he is going to hell, or he doesn’t believe in heaven and enthusiasm after death. He’s going to hell…
“Is Life Insurance A Wealth Creation Tool?”?
Yes, it surely is. I had a client pay nearly 00 over 7 years into a policy and when his spouse died he received 0,000. That’s wealth creation. As far as getting 10 cents on the dollar back I would simply say I’d wish she’d stop answering existence and health insurance…
“Professional licensure” on career application – Should I put down things that don’t apply to the profession?
I’m applying for a job, and they ask me to “Indicate Professional Licensure and/or Registration Number and State if applicable.” I have a Life and Health Insurance license surrounded by Missouri, but this job has really nothing to do with insurance. Am I lone…
“the Japanese rule made it mandatory for go insurance agencies to retribution people’s family for suicides”
flamespeak answered one of my questions with this… I have an idea that it’s amazing, what do you think? It sounds like an invitation. The insurance companies should be glad their are no japanese suicide bombers! bad opinion… Sound policy. After adjectives,…
“What is heading of the energy insurance where on earth the insured receive a clearing? How does it work? What companies?
What companies are in this business? The product I think you are discussion about is called an endowment policy. If you live for a specific time, you receive the frontage amount of the policy. Most…
(UK)Life Insurance. Hubby and i are looking to go and get this, whats the best type to progress for?
Maybe one that would cover hubby if he couldnt work also? Whats the difference between insurance and assurance? Most comprehensive cover is energy and critical illness if you are looking for a lump sum cover. If you are seeking payment protection…
1 Million dollar enthusiasm insurance quote?
Any agents or ex- agents know the cheapest method for getting a 1 million dollar policy on a healthy non-smoker 55 year old woman with no hospitalization in times gone by 10 years and does not drink or eat bad.. 5’4 160lbs.. shes a full time nursing director and is full-bodied.. i emphasize healthy! You…
1.How heaps natural life insurance policies does State Farm currently hold?
2. What are the three differnt types of whole life insurance? 3. How much money does it take to open each up respectively of the three policies? 4. What are annuities? Give two examples of annuities? Question 1. One less after I replaced one today. Question 2. …
12 years ago my father died and disappeared money for me. My mom have hide the money and denies it mortal at hand. Help?
I know that some of the money was life insurance, some be trust, and bonds. I know that my name was first, but my mom be custodian, and I am aware that I can sue for…
14yrs experience surrounded by insurance as insurance advisor?
searching an opportunity as an employee surrounded by life insurance industry having 44 years of age Put your resume on hotjobs.com and monster.com. Insurance recruiters troll near regularly. You are located from which city their are many oportunities in this are resembling Birla Sun life, Ing visya, HDFC standrad life, Kotak, Reliance…
18 and getting started on duration.. Insurance, job, taxes, etc? I want to cram adjectives of it!?
Well ok with the subjects mentioned above what should I learn going on for insurance and how my job/s may affect that… And about the taxes? How much would it be apprx. if I start renting my own apartment? How does this all work?…
19 yr dated Life Insurance Agent…Tips & Advice!?
To make a long story short..I was an apt setter/telemarketer for a couple of months(great (a) it), but realize that for my hard work, I was one and only getting less than 5% of the cut.& it wasn’t an easy job(State Farm) When I finally figure it out & started asking questions, I…
1st and 2nd Beneficiary of a life span insurance policy dies beforehand the insured, How receive the benefits?
My father was the 1st beneficiary and my mother 2nd. my mother died 6 years ago, and my father 2 years ago. my uncle (the insured) died last year. I’ve post all of the document the insurance company asked for but I don’t…
2010 Life expenses and bills?
I’m going to be 18 next year and I’m trying to estimate my living costs. What bills would I be paying? So far, I thought of these: Food Electric Water Gas Internet/TV/Phone Entertainment(Movies, bowling, etc) Car insurance Health insurance Life insurance Home insurance Anything else I’m forgetting? Sources? Rent. Extra Money/ Savings (In case you…
20-year permanent status existence insurance, get his ,000 cash-back, is it true?
which policy is better, whole or term. is this a moral way of investing money? not sure.. Generally, you purchase life insurance because, capably, you’re insuring your life (or, more accurately, your potential lifetime earnings – “life span value” it’s sometime called). Life insurance is not usually considered…
20yrs behind the times… inevitability give support to near time insurance, of adjectives things.?
I’m 20 years old and 5 months pregnant with my first child. I’m starting to focus about things like natural life insurance. I know I want term life insurance and part because I am already set up with a 401k at my job. The…
23 years outdated. Should I buy integral natural life immediately?
The policy is participating and through a mutual insurance company (guardian Life). I figure after about 15 years of paying, the dividends could expire up paying for the policy and id have it for the rest of my go for free. as the dividends keep accumulating i could use the extra…
27, single, no kids, great vigour, should i return with residence enthusiasm insurance?
I spoke to an agent and he recommended life insurance (since in the adjectives I plan on having a family, kids husband). Term insurance for 10 20 or 30 years is pretty cheap range from 10-16 bucks a month for me, whole life is A LOT more….
28%of comission is is self chargedby om kotak go insurance on imy initial amount is it cheating or i can progress
i want to give the report to aaj tak .com/dhan daulat. com It sure sounds like you are getting ripped rotten to me. Make certain that the commission does not refer to 28% off the initial installment simply and…
40yrs ago I took out 5- 00.00 unharmed natural life “20yr pay” insurance policies. What is the most money can I catch..?
today from these policies combined? I literally had fogot about them. They be all paid up within 20yrs, and they have kept them for 20 extra yrs a total of 40+ yrs. What are they worth now every penny…
45 millions Americans are living a time short insurance. How do you plan to provide healthcare to those?
Input are greatly appreciated! Thanks a lot! I dont. If they junk to get a job, they dont deserve it. If you want to live contained by a communist society please go to china. you adjectives make it sound close…
5 year or 20 year possession natural life insurance, which is the best efficacy?
please try this <a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link']);” href=”http://www.anrdoezrs.net/click-174?target=”_top”>help!</a> <img src=”http://www.lduhtrp.net/image-174819? It depends on the point you need the life insurance. Where will you be contained by 5 years – what could or will your life insurance needs be next. The best bet is to…
6 enjoy months passed will insurance wages benefits durning this contestble peroid?
this is life insurance in contestable peroid adjectives papers submitted as reguested by insurance company recved aletter recently stating they are sorry it has taken so long to process claim they are waiting on supplementary information from doctor at the very start they sent me a form…
65 Life Insurance vs. Term Life Insurance?
My wife and I currently have 65 life insurance which we pay envelope about 0 per month for the two of us. After listening to her friend Suze Orman she requests to get rid of the 65 life and return with term life insurance. 1st interview is what do you think is…
More Life Insurance quesions please visit : InsuranceQuotesFAQ.com
Retrieved from “http://www.articlesbase.com/insurance-articles/life-insurance-faq-1552490.html”
(ArticlesBase SC #1552490)
insurancefaq -
About the Author:
InsuranceQuotesFAQ.com
]]>
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/insurance-articles/life-insurance-faq-1552490.html
Article Tags:
life insurance
Latest Insurance Articles
More from insurancefaq
Learn about the Life Insurance Application Process
Learn about the life insurance application process in this video with Bob Ley from the AIG insurance company. (01:09)
How to Decide on Your Life Insurance Beneficiary
Learn how to decide on your life insurance beneficiary in this video with Bob Ley from the AIG insurance company. (01:33)
How Health Factors into Life Insurance Coverage and Cost
Learn how health factors into life insurance coverage and cost in this video with Bob Ley from the AIG insurance company. (00:43)
For What Periods Should You buy Life Insurance for
Learn the periods of time should you buy life insurance for in this video with Bob Ley from the AIG insurance company. (00:21)
Learn about the Most Expensive Type of Life Insurance
Learn about the most expensive type of life insurance in this video with Bob Ley from the AIG insurance company. (00:22)
American Life Insurance-one of the Most Trusted Company
American Life Insurance the most trusted company which has a reputation of about 87 years. This company is one of the globally recognized life insurance companies and it has a number of branches all over the world which has a vast customer line following. American Life Insurance gives various tax benefits to all its insurance policy holders and it also takes care of all your life insurance related policies like retirement insurance policy, wealth management policy, medical insurance, health insu
Finance>
Insurancel
Oct 22, 2008
lViews: 1,028
Life Insurance Danville VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Danville VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jul 02, 2010
Life Insurance Chesapeake VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Chesapeake VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jul 02, 2010
Life Insurance Alexandria VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Alexandria VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jul 01, 2010
Life Insurance Arlington VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Arlington VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jul 01, 2010
Life Insurance Charlottesville VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Charlottesville VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jul 01, 2010
Life Insurance Portsmouth VA – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Portsmouth VA? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jun 30, 2010
Life Insurance Winston Salem NC – 33 Secret Tips To Not Get RIPPED OFF
http://www.LifeInsuranceSecretReport.com Looking for Life Insurance in Winston Salem NC? Snag your FREE 16pg report revealing the “33 Secret Tips You MUST Know about Life Insurance to Avoid Getting Ripped Off”.
By:
The Life Insurance Whizl
Financel
Jun 30, 2010
Business Insurance – SME Loans
Business Insurance is a vital cost to small businesses, however in a climate where banks are reducing their lending many SME’s are struggling to survive.
By:
Maline Morganl
Finance>
Insurancel
Nov 24, 2010
Interpretation and Rectification OF ARPI – Contra Proferentem
If a phrase in ARPI can have two or more sensible meanings, then the application of the rule known as “contra proferentem” will result in the phrase being construed in favour of the insured and therefore against the underwriter, provided that he had drafted the policy. For example, the policy may refer to “stock” in the description of personal property.
By:
Willis J. Watsonl
Finance>
Insurancel
Nov 24, 2010
Life Insurance – What You Get Out Of Selling A Policy
Selling a life insurance policy may seem an odd notion at first, but it should not. It is a tremendous way to produce a large return on your life insurance from a value perspective.
By:
Thomas Ajaval
Finance>
Insurancel
Nov 24, 2010
How will your Health Insurance Company Establish your Rates?
Majority of the folks do not possess any idea where their insurance firms obtain the rates of their premiums particularly once they discover the large disparities when they start evaluating the total amount that they should shell out from their premiums.
By:
DeborahSmithl
Finance>
Insurancel
Nov 24, 2010
How Automobile Safety Ratings Can Help You Save on Auto Insurance
With the rates of vehicular accidents going up regularly, it’s no surprise that the automobile insurance providers are rearing their principles with regards to auto safety ratings and automobile insurance coverage. This ensures that each plus point which you get for a safety rating will be a demerit to the vehicle insurance payments that you need pay.
By:
DeborahSmithl
Finance>
Insurancel
Nov 24, 2010
Is Texting and Driving the Most innovative Form of Russian Roulette?
No one can deny the fact that texting while driving is an exceptionally risky mixture that is certainly very like a game referred to as Russian Roulette. Ever since texting turned a phenomenon, the numbers of crashes associated to cellular communications have spiked.
By:
DeborahSmithl
Finance>
Insurancel
Nov 24, 2010
Term life insurance company ratings
Term life insurance company ratings are referring to the ratings a company is giving to the customers, mainly for the future customers.
By:
Karisma Sandl
Finance>
Insurancel
Nov 24, 2010
Commercial Property Insurance Instant Quotes
In the old days you would have to submit your commercial property details to an insurance company and they would work out a figure and call you back but no longer with most insurers no offering instant quotes over the phone for this insurance, making your job a lot easier.
By:
Nathan De Bondl
Finance>
Insurancel
Nov 24, 2010
Online Insurance Questions And Answers
How to recompense insurance online?
i am having pulsardtsi 150 (purch- 50-06)how to pay subsequent yrs insaurance If you enjoy an account with hdfc mound you can pay insurance premium online using net bank facility, the current insurance companies are hdfc standard life insurance, icici, birla sun life and lic. Also you can dance to their respective websites and…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Any direction to proposition on saloon insurance?
Do you have any advice to give on buying insurance on my very first car for a first-time driver? Any suggestion at all? Any recommendations, anything to avoid, etc.? are u from Canada….cause if are and below 25..good luck…public liability alone your looking at well over 00 for 12 months. and even…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Insurance Uk Questions And Answers
Cheap Car Insurance (UK)?
UK Cheap Car insurance companies i have used the search engines such as dance compare and money supermarket but they have not been much back 2 me? Please help! Thanks xx quinn direct Don’t buy 10 month cover, don’t buy wages as you go cover either. If your childish, compaison sites are best If your…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Car catastrophe, insurance rate?
ive been driving 2 years, no tickets, no accidents….so tonight i get in an accident, reverse ended a car….my condemn,,,how much will my insurance go up? i have Allstate. Bottom strip is they’ll charge you what they want to. I guess we’ll see if that allstate “accident forgiveness” is real. Contact Allstate to find out if you…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Does questioning insurance quotes ?
Show up as an inquiry on your credit ? I know that inquiries can look bad on your credit..I’ve decided to look into other insurance companies…Will the inquiries look impossible on my credit ? well I am not sure, but wish you the best of luck.. The inquiries are considered a “soft” hit and…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Contents Insurance Questions & Answers
Insurance content cost?
How would you work out? Sheila rents a flat and pays lb69.44 to insure its contents. Content insurance costs 56p for each lb100 insured. For how much are the contents insured? The answer in my book say lb12400 how did they get the answer? Please help Thanks. How frequent 56 pences are there in lb69.44? That will…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Another folks insurance company is not paying my medical bills?
I was in a motor accident a few months ago, I was rear-ended not cross-examine that it was the other persons breakdown. Well her insurance company paid for the repairs on the car that be around ,000. They really never gave me any trouble about this. I be…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
Homeowners Insurance Questions And Answers
Did insurance companies assistance or disown the Hurricane Katrina homeowners?
I work in the real estate industry and am curious if the homeowners who lost their homes to Hurricane Katrina ever get reimbursed by their property insurance companies. Or, due to the enoromous cost, did the insurance companies default out of self preservation? It seems to me that those…
By:
insurancefaql
Finance>
Insurancel
Mar 29, 2010
lViews: 104
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
insurancefaq has 111 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2010 Free Articles by ArticlesBase.com, All rights reserved.
InsuranceQuotesFAQ.com
[random:50][select:More Short Term Car Insurance For 18 Year Olds Articles|Related
Short Term Car Insurance For 18 Year Olds Articles|Find More Short Term Car Insurance For 18 Year Olds Articles][/random]