IS THE HOME LOAN MODIFICATION PROGRAM WORKING

The issue of subprime loans and the foreclosures that has resulted out of it has no doubt decimated the U.S economy and continues to threaten our way of life. The current Obama administration and the U. S congress has tried to get the lending agencies to modify home loans in order to prevent many more homes from being foreclosed. Thats a step in the right direction but the most important issue is whether this strategy is working. From the information out there so far, there is still a hardcore line that this failed financial institutions thats being given life support by the federal government have taken to prevent meaningful progress from being made on main street. The concerns of main street is certainly not the concerns of wall street and this is manifested in their lack of empathy to main street. They have once again established their reputation as a ruthless entity thats an island with no regards for main street other than their profits and how to spend lavishly. Wall Street is just as vulnerable as main street but yet they have displayed foolish pride and arrogance in their response to this crisis. I proposed that they should have been allowed to fail and the tax payers money that was used in bailing them out should have been invested in serious enterpreneurs and small bizness initiatives which will make real and sustainable impact on the U.S economy. One way or the other, once the manufacturing sector of the economy is revived, the accountants will be invited to do the book keeping since thats all they do anyway. Yet tax payers money has been invested into fraudlent schemes backed by the government to give people the false impression that everything is ok. The financial institutions could have helped prevent the loss of homes if they had complied with the home loan modification program. All they had to do was remodify the terms of the loan by offering home owners the prevailing lower fixed interest rate. This would have reduced monthly mortgage payments and will at least encourage and boost the morale of families to keep their homes. The federal government could have also reduced or eliminated property taxes in high risk areas of foreclosure to ease financial stress on ordinary people. At least if the federal government was quick to identify that home loans had to be modified, it should have considered serious enforcement as it negotiates its program to bailout wall street completely. We now have main street suffering and not knowing what the prospects will be whilst wall street is still taking expensive vacations and continues to waste tax payer money on executive compensation. The federal government have not yet made such a prosal to main street and yet it expects recovery in that area. There will be no recovery if the financial institutions go unaccountable and without commitments to main street. Reconcile wall street and main street and you will have recovery. If wall street wants to be arrogant and ruthless the only way is to force them to take responsibility for their mess.

CONFIRMATION OF JUSTICE SOTOMAYOR

I have started watching the confirmation hearings and i find it interesting and fun to watch Ms. Sotomayor Vs. U.S senators. Most of the issue that have been raised about judge Sotomayor is in regards to her commments about the "wise latino woman....." The totality of her qualifications as a judge was overshadowed at least before the confirmation hearings. After the second day of the hearings i think one gets a feel of who the person that is waiting to be confirmed is about. Senator Lindsey Graham made a comment that she was going to be confirmed only if she does not have a melt down which i find scary and hope does not happen as we are still navigating the confirmation process. Judge Sotomayor has worked hard enough and the last thing we all want is a bunch of senators hustling her for no reason. I am personally in favor of Sotomayor and hope she is confirmed as soon as possible. I think she will be helpful in deciding cases given her track record. We still have hearings to come and i keep my fingers wraped waiting to see where the confirmation hearings leads to.

OBAMA GOES TO AFRICA

President Obama's trip to Africa did not come as a surprise to me because after all he has already been visiting the continent even before his run for the harvard law review, U.S senate or even the presidency. What i am concerned with is his support for the majority of Africans all over the world who are in favor of serious political and economic development of the continent. He has a better platform than most of us to articulate his support for the key concerns of the continent. Most of us are hoping he will maintain this stand through out his presidency by continuing to pressure the political leaders on the continent to step aside and allow due process to work. For far too long most civil servants and the citizens of the continent have been trying to take charge of the development of the continent. However, some elements who are fortunate to be in positions of power manipulate the people as well as natural resources through signing of dubious deals that are unaccountable. Africa has been tryfing to find its place in the new global order and is still spinning its wheels inspite of all that citizens of the continet have been trying to contribute to its development. Gone where the days when the western world was held responsible for Africas woes. In this present times most of the young people in Africa do not see things in those terms. We are instead paying close attention to what's actually preventing us from achievng the kind of growth and development that we seek. time and again we see our elders squandering the political capital that they are given. Instead of looking at the bigger picture, their focus is rather on how to make themselves rich over night. We have always asked for political and economic freedom in order to fulfill our individual aspiration. They have granted themselves the right to pursue happiness and denied citizens of the continent those same rights. If people are denied the right to pursue happiness, how do we build a functional economy that works for us. They have tried Soviet style bureaucracies which has proven to be ineffective. This fight began from the day Africans won independence from their previous colonial masters and we have not known rest ever since . They are greedy and we must oppose them until all Africans are granted those rights that the founding fathers articulated in the declaration of independence. The freedom to pursue happiness was recognized as a very essential part of human life. We see many Africans traveling outside the continent or wanting to travel outside to improve their lot as well as their families conditions. Most of them return to the continent with the resources they have acquired but yet they are faced with the same obstacles that drove them out of the continent. The development of Africa cannot be under taken solely by a government bureacracy like some want to believe. The government certainly has a role to play in the national development but that role is limited and it must begin to recognize that. When that limitation is recognized, steps must be taken to ensure that government forms the partnership necessary with the governed to help confront and overcome the systemic challenges to not only alleviate poverty but to create sustainable wealth to ensure that history does not repeat itself in the form of colonialism and conquest by nations who have the intellect and will to pursue the prosperity they seek for their elites and citizens. God bless Africa!!!

SARAH PALIN STEPS DOWN AS GOVERNOR OF ALASKA

It's unfortunate to watch Ms. Palin step down as governor of Alaska. The reasons she gave for steping down makes my heart go out to her. I think the media went too far and that was not sensible on their part to lunch such savage attacks against her and her family. Some networks should have done better than they did and I wish her and her family well. Having said that, I hope Ms. Palin and other members of the Republican party who intend to contest for the presidency show up with a substantial argument for the public about why they are running for office. Most people are just disgusted about the gutter politics that we have seen the Republican party engaged in during the Bush jnr years. I have no strong political affiliation nor interested in one. I was furious about how the Republican party lacked the intelligence to manage the economy pragmatic and efficiently. What we saw was extreme recklessness and an attempt to destroy this wonderful country by despicable extremists who have no conscience and regard for life. No political party is fit to govern if they lack tolerance for views that differs with their ideological views. We saw people within the party leadership exploiting religion for financial and political gains. They labeled others as horrible human beings and yet at the end of the day the American public saw how horrible most of these members of the Republican leadership were. We hope the Republican party is saved by decent men and women who have been shut out of the party. read thishttp://www.npr.org/templates/story/story.php?storyId=106131929

STATE BUDGET WOES

We are seeing what many experts have already predicted will happen this year on the State level due to the ailing economy since most States begin their budgets on 1st of July. This is very important to take note of since it brings as to the ideological diffrences that both the Republican and Democratic party have over how government should function. At this moment, the Democraats are in the majority but that also means that at this crucial point in American history, they have to give a second look at the concept of government programs and spending as the way to go. The Replublicans are mainly responsible for taking a reckless approach in handling the economy and as a result most people are paying the price. States are now being forced to make cuts in order to sustain themselves in the next fiscal cycle. Hopefully this does not become an opportunity for some politicians to exploit for political gains. I think cutting back programs that are not necessary and at leats not starting new programs for now and also finding ways to make existing programs more efficient and effective in the resources used and the services they provide should be taking seriously. These key steps I stated i believe will be helpful in making States cope well with the situation rather than creating panic and confusion for its citizens. read this linkhttp://www.npr.org/templates/story/story.php?storyId=106131929