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| | Public Option | | | | Wednesday, August 19, 2009 (5:59 PM) | |
A few facts:
-The US does not have the best health care in the world as some politicians and pundits claim; the US is ranked 37th in quality of health care among industrialized nations.
-The US does have the most expensive health care system in the world.
-Americans much pay more for the same prescription drugs than our European friends.
-More the 46 million US citizens are without any health insurance. Contrary to popular belief, one cannot show up at a hospital and be treated for free. Someone pays for that...guess who.
-Private insurance companies and big pharma are raping you.
-Medicare, social security and veterans care are public (government) operated programs that work well.
-A public option would merely allow citizens to choose between a public (government backed) insurer and a private insurer, thereby driving down the cost.
-The current healthcare reform bill includes mandates for the health care industry to use current technology (like centralized billing and sharing medical records among practitioners) that should have been instituted by the AMA, insurance companies and big pharma years ago. (Naturally, to get it done, we'll have to pay the upfront costs). The savings will be immense.
Why is it so difficult to understand? A public option is good for you. The operative word is "option," which means choice.
Health Care Rankings
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| | Denmark Offers a Model Mortgage Market | | | | Friday, October 10, 2008 (7:15 AM) | | By George Soros
The American system of mortgage financing is broken and needs a total overhaul. Until there is a realistic prospect of stabilizing housing prices, the value of mortgage-related securities will erode and Treasury Secretary Henry Paulson's efforts will come to naught.
There are four fundamental problems with our current system of mortgage financing.
First, the business model of Government Sponsored Entities (GSEs) in which profits accrue to the private sector but risks are underwritten by the public has proven unworkable. It would be a grave mistake to preserve the GSEs in anything resembling their current form.
Second, the American style of mortgage securitization is rife with conflicts where entities that originate, securitize and service mortgages are generally not the same as those that invest in mortgage securities. As a result, the incentives to originate sound mortgages and to service them well are inadequate. No wonder that the quality of mortgages degenerated so rapidly.
Third, mortgage-backed securitizations, which were meant to reduce risk by creating geographically diversified pools of mortgages, actually increased risk by creating complex capital structures that impede the modification of mortgages in the case of default.
Finally, and most fundamentally, the American mortgages market is asymmetric. When interest rates fall and house prices rise, mortgages can be refinanced at par value, generating the mortgage equity withdrawals that fueled the housing bubble. However, when interest rates rise and house prices fall, mortgages can only be refinanced at par value even though the market price of the securitized mortgage has fallen.
To reconstruct our mortgage system on a sounder basis, we ought to look to the Danish model, which has withstood many tests since it was brought into existence after the great fire of Copenhagen in 1795. It remains the best performing in Europe during the current crisis. First, it is an open system in which all mortgage originators can participate on equal terms as long as they meet the rigorous regulatory requirements. There are no GSEs enjoying a quasimonopolistic position.
Second, mortgage originators are required to retain credit risk and to perform the servicing functions, thereby properly aligning the incentives. Third, the mortgage is funded by the issuance of standardized bonds, creating a large and liquid market. Indeed, the spread on Danish mortgage bonds is similar to the option-adjusted spread on bonds issued by the GSEs, although they carry no implicit government guarantees.
Finally, the asymmetric nature of American mortgages is replaced by what the Danes call the Principle of Balance. Every mortgage is instantly converted into a security of the same amount and the two remain interchangeable at all times. Homeowners can retire mortgages not only by paying them off, but also by buying an equivalent face amount of bonds at market price. Because the value of homes and the associated mortgage bonds tend to move in the same direction, homeowners should not end up with negative equity in their homes. To state it more clearly, as home prices decline, the amount that a homeowner must spend to retire his mortgage decreases because he can buy the bonds at lower prices.
The U.S. can emulate the Danish system with surprisingly few modifications from our current practices. What is required is transparent, standardized securities which create large and fungible pools. Today in the U.S., over half of all mortgages are securitized by Ginnie Mae, which issues standardized securities. All that is missing is allowing the borrowers to redeem their mortgages at the lower of par or market.
Because of the current havoc in the mortgage market, there is no confidence in the origination and securitization process. As a result, a government guarantee is indispensable at this time, and may be needed for the next few years. As the private sector regains its strength, the government guarantees could, and should, be gradually phased out.
How to get there from here? It will involve modifying the existing stock of mortgages, so that the principal does not exceed the current market value of the houses, and refinancing them with Danish-style loans. The modification will have to be done by servicing companies that need to be properly incentivized. Modifying mortgages that have been sliced and diced into securitizations may require legislative authorization. The virtual monopoly of the GSEs would be terminated and they would be liquidated over time.
A plan to reorganize the mortgage industry along these lines would inspire the confidence that would allow a successful recapitalization of the banking system with the help of the $700 billion package approved last week.
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Mr. Soros is chairman of Soros Fund Management and the author of "The New Paradigm for Financial Markets" | | | | 49 Views | 2 Thumbs Up | 1 Comment | |
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| | Locked & Loaded | | | | Thursday, August 14, 2008 (6:34 AM) | | The pathetic episode that occurred on LV this past week motivated me to do quite a bit of research in the area of online harassment, particulary harassment through the use of so-called sock accounts. I learned a great deal of information regarding formal methods to be used through webserver's complaint processes and through legal remedies. I also learned a great deal about the current technology of tracking harassers, who can no longer hide by the simple use of fake IP addresses or even the use of multiple webservers (there many permanent and traceable markers).
In this recent case of harassment by displaying someone's private videos, I was not surprised to find the IP address of that sock account originated from the same location as known user's accounts and there were other accounts associated with those users, as well. I was preparing a letter to the LiveVideo board of directors as well as their parent company to lay out the facts and respectfully demand enforcement of their own Terms of Service by deleting and banning all those accounts and any future accounts associated with IP addresses originating from that location. Fortunately, I do not have to go to that extent as it appears the culprits have decided to behave sanely and have taken evasive action by invoking. I do believe that this unfortunate episode will cause the culprits and maybe a few others of like mind to think seriously before embarking on harassment campaigns in the future.
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| | Remedies for Online Harassment | | | Tuesday, August 5, 2008 (3:20 AM)
(I'm feeling litigious) | | If you are the victim of online harassment, please read and follow the guidance offered in the attached link. You should retain evidence of the harassment for purposes of filing a complaint wiht LiveVideo and in the event you decide to sue your harasser. What To Do If You Are The Victim of Online Harassment
You can notify LiveVideo via email to admin@livevideo.com. LiveVideo's Term of Service state: "LiveVideo reserves the right to investigate and take appropriate action against anyone who, in LiveVideo's sole discretion, violates this provision, including without limitation, removing the offending communication from the LiveVideo Site, terminating the Membership of such violators, and pursuing appropriate legal action. Prohibited Content on the Site includes, but is not limited to, Content that is meant to harass another person; or solicits personal information from anyone..."
All webservers based or operating within the U.S., like Live Video, are required to maintain databases of all transactions and accounts. These records include all account holders associated with any all accounts opened by them under any and all names, and all videos and emails disseminated from all accounts. Use of a fake IP address does not disguise the initial account creator. It should also be noted that citizens of other countries are subject to U.S. laws pertaining to internet crimes committed via U.S. based or operating webservers. If your harasser resides in another country, it does not mean they are free from potential prosecution under U.S. law.
In criminal proceedings, webserver records have been obtained and used in prosecutions under current U.S laws. Indicted individuals have had their personal computers confiscated and scrutinized, as well. Lori Drew Sentenced to 4 Years for Online Harrassment using "Sock" Account
In cases that do not rise to a criminal violation, civil lawsuits have been filed for harassment and for slander. Civil courts have summonsed webserver records to prove the source/ownership of accounts created and used by respondents for purposes of alleged harassment and/or slander.
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| | Vincent Bugliosi | | | | Tuesday, June 10, 2008 (5:07 PM) | | Vincent Bugliosi's latest book, "The Prosecution of George W. Bush for Murder" lays out the criminal case against Bush clearly with documented facts. It is a really good read, even though most of us know about the neocon's travesties at this point. An excerpt from the book can be read at THE HUFFINGTON POST
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| | American Wars | | | | Tuesday, June 10, 2008 (12:08 PM) | | * American Revolutionary War, 1775 – 1783
o Boston campaign, 1775 - 1776
o Canadian Theatre, 1775 - 1776
o New York and New Jersey campaign, 1776 - 1777
o Saratoga Campaign, 1777
o Philadelphia Campaign, 1777 - 1778
o Western Theatre, 1775 - 1782
o Northern Theater, 1778 - 1781
o Southern Theatre, 1775 - 1782
* Northwest Indian War, 1785 - 1795
* Quasi-War, France, 1798 – 1800
* First Barbary War, 1801 – 1805
* Sabine Expedition, 1806
* War of 1812, 1812 – 1815
o Tecumseh's Rebellion, 1811 - 1813
o Lake Champlain Campaign, 1812 - 1814
o Niagara Campaign, 1812 - 1814
o Detroit Campaign, 1812 - 1814
o Chesapeake Campaign, 1813 - 1814
o Creek War, 1813 - 1814
o Peoria War, 1813
o Southern Campaign,
* Second Barbary War, 1815
* First Seminole War, 1817 - 1818
* Winnebago War, 1827
* Black Hawk War, 1832
* Second Seminole War, 1835 - 1842
* Mexican-American War, 1846 – 1848
* Cayuse War, 1847 - 1855
* Third Seminole War, 1855 - 1858
* American Civil War, 1861 – 1865
o Union blockade, 1861 - 1865
o Eastern Theater, 1861 - 1865
o Western Theater, 1861 - 1865
o Lower Seaboard Theater, 1861 - 1865
o Trans-Mississippi Theater, 1861 - 1865
o Dakota Conflict, 1862
o Pacific Coast Theater, 1863
o Colorado War, 1863 - 1865
* Reconstruction, 1865-1876
* Red Cloud's War, 1866 - 1868
* Korean Expedition, 1871
* Modoc War, 1872 - 1873
* Red River War, 1874 - 1875
* Black Hills War, 1876 - 1877
* Nez Perce War, 1877
* Bannock War, 1878
* Cheyenne War, 1878 - 1879
* Sheepeater Indian War, 1879
* Ute War, 1879-1880
* Pine Ridge Campaign, 1890-1891
* Battle of Leech Lake, 1898
* Spanish-American War, 1898
* Philippine Insurrection, 1899 - 1902
* Boxer Rebellion, 1900 - 1902
* Banana Wars:
o United States occupation of Nicaragua, 1909-1933
o United States occupation of Veracruz, 1914
o United States occupation of Haiti, 1915-1934
o Mexican Expedition, 1916 - 1917
o United States occupation of the Dominican Republic, 1917-1924
* Battle at Nogales, Arizona, 1917
* World War I, 1917 – 1918
o European Theatre, 1917 - 1918
o First Battle of the Atlantic, 1917 - 1918
o Polar Bear Expedition, 1918 - 1919
o American Expeditionary Force Siberia, Soviet Union, 1918 - 1920
* Yangtze Patrol, 1920's
* World War II, 1941 – 1945
o Second Battle of the Atlantic, 1941 - 1945
o Pacific War, 1941 - 1945
o African Theatre, 1942 - 1943
o European Theatre, 1944 - 1945
* Cold War, 1947 - 1990 with the following hot wars and campaigns:
o Operation PBFORTUNE, Guatemala, 1952
o Operation Ajax, 1953
o Operation PBSUCCESS, Guatemala, 1954
o Bay of Pigs Invasion, Cuba, 1961
o Operation Powerpack, Dominican Republic, 1965 - 1966
o Operation Urgent Fury, Invasion of Grenada, 1983
* Korean War, 1950 - 1953
* Operation Blue Bat, Lebanon, 1958
* Vietnam War, 1962 - 1973
o Laotian Civil War, 1962 - 1973
o Cambodian Civil War, 1969 - 1970
* Operation Eagle Claw, Iran hostage crisis, 1980
* First Gulf of Sidra Incident, Libya, 1981
* Operation El Dorado Canyon, Libya, 1986
* Iran-Iraq War, 1987 - 1989
* Operation Just Cause, Panama 1989 - 1990
* Second Gulf of Sidra Incident, Libya, 1989
* Persian Gulf War, Iraq, 1991
o Operation Desert Shield, 1991
o Operation Desert Storm, 1991
* Somali Civil War, 1992 - 1994
o Operation Provide Relief, 1992
o Operation Restore Hope, 1992 - 1994
* Yugoslav wars, 1994 - 1999
o Bosnian Conflict, 1994 - 1995
o Kosovo Conflict, 1997 - 1999
* War on Terrorism, 2001 - present
* Operation Enduring Freedom - Afghanistan 2001 - present
* Operation Enduring Freedom - Philippines 2002 - present
* Operation Iraqi Freedom - Horn of Africa 2002 - present
* Operation Iraqi Freedom, 2003 - present
* Waziristan War, 2004 - present
* War in Somalia, 2006 - present
* Operation Iraqi Freedom - Trans Sahara 2007 - present
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