syzygy
09-23 01:41 AM
This is great idea!
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.
IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.
Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.
If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.
Who to write to
Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet (http://spreadsheets.google.com/pub?key=pptN-jEpAiyd3snslhPjBfw).
You can find your representative & senator staff members on this website (http://www.outsourcecongress.org/outsource/congress/schstaffers.html).
Content/Message
SUMMARY
This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis � the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.
BACKGROUND
Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.
It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.
SOLUTION
Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.
How can Employment based Immigrants help alleviate the housing problem?
(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.
(2) Average income of these individuals/households is around 65,000/130,000 USD.
(3) All these Employment based immigrants have gone through Department of Labor�s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.
(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.
(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most � at the banks.
(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.
(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.
As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.
END OF CONTENT
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.
IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.
Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.
If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.
Who to write to
Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet (http://spreadsheets.google.com/pub?key=pptN-jEpAiyd3snslhPjBfw).
You can find your representative & senator staff members on this website (http://www.outsourcecongress.org/outsource/congress/schstaffers.html).
Content/Message
SUMMARY
This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis � the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.
BACKGROUND
Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.
It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.
SOLUTION
Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.
How can Employment based Immigrants help alleviate the housing problem?
(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.
(2) Average income of these individuals/households is around 65,000/130,000 USD.
(3) All these Employment based immigrants have gone through Department of Labor�s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.
(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.
(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most � at the banks.
(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.
(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.
As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.
END OF CONTENT
wallpaper Peter Falk: thousands of
thomachan72
08-18 04:26 PM
I do not know why this issue is more important for people to discuss. Just because Mr Khan is asked to be a common man? He is not a world famous actor. He is a famous actor to a very very small minority Indian Community in USA. Why should USA give VIP treatment to any star actor from any country of the world? If he was an official ambassador/senior diplomat/Minister, it us understandable. He is simply coming to USA to make money. He will still come again to USA to make money even if he is strip searched again and questioned for more than 66 minutes. Indian government seems to have crossed the line by complaining. This VIP culture that is so prevalent in India needs to change.
If Indian government really wants to complain, why are they not complaining against the long wait periods for H1B stamping in India. Ordinary Indian citizens going to India for stamping sometimes have to wait several months in the name of security checks. This takes a toll on their life and job in USA. There are several other issues Indian Citizens face in USA. If Indian government has chosen to interfere with the internal matter (in this case national security) of USA, why is it keeping quiet on other matter of importance to its citizens? Indian government needs to stick to its policies and not bend its rules for VIPs.
As someone said, if his intention was to publicize his new movie and make more money from his share of profit, he may have succeeded.
Could not have said it better. Atleast we who have been fortunate to see "outside world" have to consider these actors/actresses as ordinary human beings. I would rather say that it is good that this guy was held up for 2 hours. He mentioned that he was taken into a room where several other asians were also present waiting for help. I really hope the guy realizes that not everybody in the world knows him. If on the other hand he had invested his money in creating a sharukh's village for the orphans or done some other huge charity work (not just for income tax evasion) I would have felt sad but even then not terrible as many feel now.
LESSON THAT WE LEARNT:: EVERYONE GETS TO BE EQUAL SOMEWHERE ALONG THE LINE....
Dont be too much awed by these artists. They rake in millions but give back VERY VERY LITTLE. So why would be even thinking about them more than the average business person????..
PS:- Dont misunderstand this as a statement arising out of jealosy or insecurity but it is JUST THE REALITY WHICH HOPEFULLY WE WILL ALL REALIZE ONE DAY.
If Indian government really wants to complain, why are they not complaining against the long wait periods for H1B stamping in India. Ordinary Indian citizens going to India for stamping sometimes have to wait several months in the name of security checks. This takes a toll on their life and job in USA. There are several other issues Indian Citizens face in USA. If Indian government has chosen to interfere with the internal matter (in this case national security) of USA, why is it keeping quiet on other matter of importance to its citizens? Indian government needs to stick to its policies and not bend its rules for VIPs.
As someone said, if his intention was to publicize his new movie and make more money from his share of profit, he may have succeeded.
Could not have said it better. Atleast we who have been fortunate to see "outside world" have to consider these actors/actresses as ordinary human beings. I would rather say that it is good that this guy was held up for 2 hours. He mentioned that he was taken into a room where several other asians were also present waiting for help. I really hope the guy realizes that not everybody in the world knows him. If on the other hand he had invested his money in creating a sharukh's village for the orphans or done some other huge charity work (not just for income tax evasion) I would have felt sad but even then not terrible as many feel now.
LESSON THAT WE LEARNT:: EVERYONE GETS TO BE EQUAL SOMEWHERE ALONG THE LINE....
Dont be too much awed by these artists. They rake in millions but give back VERY VERY LITTLE. So why would be even thinking about them more than the average business person????..
PS:- Dont misunderstand this as a statement arising out of jealosy or insecurity but it is JUST THE REALITY WHICH HOPEFULLY WE WILL ALL REALIZE ONE DAY.
krishmunn
07-27 03:05 PM
Yes it is 1099-INT. "Amway bosses will not inform you..?..anuthorized?"...why don't you check your own braincells. Nobody is boss of anyone. Every business owner receives a proper TAX form with all declarations every year. Neither Murthy/Khanna/ or any corporate law offices are wrong. You should talk to them explicitly before commenting.
Your sorry ass has lot of excuses. Don't open your mouth on things you don't know.
So now you say Amway gives you 1099-INT ? Didn't you earlier say they give a 1099-MISC ?
BTW, Amway cannot issue you a 1099-INT -- that is for bank interest. Look who do not know things (and still try to open mouth ) :rolleyes:
Bottomline -- you are NOT allowed to do ANY type of business on H1. If you think I am wrong , just share your name and address and I will be happy to send the info to CIS.
Your mouthfull of garbage does not change the law
Your sorry ass has lot of excuses. Don't open your mouth on things you don't know.
So now you say Amway gives you 1099-INT ? Didn't you earlier say they give a 1099-MISC ?
BTW, Amway cannot issue you a 1099-INT -- that is for bank interest. Look who do not know things (and still try to open mouth ) :rolleyes:
Bottomline -- you are NOT allowed to do ANY type of business on H1. If you think I am wrong , just share your name and address and I will be happy to send the info to CIS.
Your mouthfull of garbage does not change the law
2011 Peter Falk, who as the beloved
YesGC_NoGC
06-26 12:55 PM
Fact - My 485 has not ben filied yet, still on mercey of Employer after giving them all the paperwork. My PD was current for June filing.
Rumour - The dates have been retrogressed already for July as USCIS already recd enough applications to fullfill the remaining visa number for this fiscal year. Also USCIS officers visited IV and could sense the number of applications that will pile up on July 1st hence they decided to retrogress and release the dates on Month to month basis.
Does this make sense !!
Rumour - The dates have been retrogressed already for July as USCIS already recd enough applications to fullfill the remaining visa number for this fiscal year. Also USCIS officers visited IV and could sense the number of applications that will pile up on July 1st hence they decided to retrogress and release the dates on Month to month basis.
Does this make sense !!
more...
lahiribaba
06-12 09:56 AM
Dude, Read Vivek Wadhwas findings carefully. He wants the best and the brightest to be provided unlimited visas. I agree with him completely. He is not for perpetual fraud and wage destruction as proferred by the outsourcing companies. Next time when you quote a defence, atleast quote something that supports your case not the opponent's :-)
You all can scream and shout all you want but
NOTHING IS GONNA STOP THE OFFSHORE OUTSOURCING TRAIN THATS ROLLING ROLLING ROLLING>>>>>>>>>
BECAUSE.>>>>>>>>>
OF THE SHEER SIZE OF INDIA'S POPULATION.....
10 YEARS FROM NOW IF YOU ARE IN IT YOUR BOSS WILL BE SITTING IN INDIA
You all can scream and shout all you want but
NOTHING IS GONNA STOP THE OFFSHORE OUTSOURCING TRAIN THATS ROLLING ROLLING ROLLING>>>>>>>>>
BECAUSE.>>>>>>>>>
OF THE SHEER SIZE OF INDIA'S POPULATION.....
10 YEARS FROM NOW IF YOU ARE IN IT YOUR BOSS WILL BE SITTING IN INDIA
chanduv23
06-26 12:36 PM
What I noticed is these kind of roumor comes from those who already filed and got their receipts :D :D
Isn't it??? ;)
Mid month retrogression is possible acc to Murthy but that may not happen in July
Everything is a speculation here. USCIS is the winner - always keeps us guessing.
Some optimistic coments I heard is - USCIS is now prepared to clear backlogs and will accept a lot of applications this month as they do not want this year's visa quota wasted.
Isn't it??? ;)
Mid month retrogression is possible acc to Murthy but that may not happen in July
Everything is a speculation here. USCIS is the winner - always keeps us guessing.
Some optimistic coments I heard is - USCIS is now prepared to clear backlogs and will accept a lot of applications this month as they do not want this year's visa quota wasted.
more...
amsgc
12-19 07:40 PM
PD and EBI/II/III shlould be ad to the above list.
2010 Peter Falk has died aged 83.
immigrationvoice1
02-14 12:22 PM
I brought African countries not as scapegoats, but as examples of countries not colonized by Europeans. I didn't mean to insult anybody from Sierra Leone or Congo ;) But my point was that if there wouldn't be Europeans - there wouldn't be United States.
Man... you can't bring some example, not to be accused of something... Come on guys.
Happy Valentine's Day.
....and without them, we won't have World Wars, Cold Wars, Star Wars, Nuclear Bombs, Present Day wars, Apartheid, Colonialism etc etc etc.... too! ....way to go Europeans and people who immigrated to USA from Europe....
Happy Valentine's Day!
Man... you can't bring some example, not to be accused of something... Come on guys.
Happy Valentine's Day.
....and without them, we won't have World Wars, Cold Wars, Star Wars, Nuclear Bombs, Present Day wars, Apartheid, Colonialism etc etc etc.... too! ....way to go Europeans and people who immigrated to USA from Europe....
Happy Valentine's Day!
more...
venetian
05-11 06:33 PM
Illusions,
If BBC, AFP, AP & Reuters are considered a reliable source of information, then what is happening in Sri Lanka is genocide.
venetian, you could say that the Tamils in SL were just as a much discriminated in SL as the Muslims in India.
There is no such Genocide happening in SL as some claim. As a matter of fact the LTTE ethnically cleansed the Muslims from the NE of the country in the 90's, yet the Muslims in SL didn't bare arms against the LTTE.
Mind you the civil war in SL is against the LTTE, not the Tamils.
If BBC, AFP, AP & Reuters are considered a reliable source of information, then what is happening in Sri Lanka is genocide.
venetian, you could say that the Tamils in SL were just as a much discriminated in SL as the Muslims in India.
There is no such Genocide happening in SL as some claim. As a matter of fact the LTTE ethnically cleansed the Muslims from the NE of the country in the 90's, yet the Muslims in SL didn't bare arms against the LTTE.
Mind you the civil war in SL is against the LTTE, not the Tamils.
hair images Peter Falk, the actor
krishmunn
07-27 06:11 PM
Oh yeahhh..."1099-int" was a rhetorical statement as you mentioned it.
Don't worry I have already done my homework with law offices or CIS, as I had to show all incomes during interviews. Keep on squeaking.
One somewhat unrelated question --- Why did you have to attend an interview with CIS (and show your income) ?
AFAIK CIS interviews only during adjudication of 485 (for some cases) .. never heard of CIS interviewing for extension of H1 or other matters. If they are interviewing EB 3 2006 cases it is a good sign
Don't worry I have already done my homework with law offices or CIS, as I had to show all incomes during interviews. Keep on squeaking.
One somewhat unrelated question --- Why did you have to attend an interview with CIS (and show your income) ?
AFAIK CIS interviews only during adjudication of 485 (for some cases) .. never heard of CIS interviewing for extension of H1 or other matters. If they are interviewing EB 3 2006 cases it is a good sign
more...
maximus777
06-15 12:13 PM
The original post is fine only in parts but most of it is totally crap. He says his living standard has gone down because of L1s and H1bs and herds people coming from india, Dude you need to understand that this recession has not been caused by H1b and L1s or other IT workers coming to US, its because of the real estate boom and foolishness of american people who believed that real estate prices will keep on rising to INFINITY.. i don't have to explain how this recession started i hope majority of the people knows about it.. so stop blaming IT workforce for your living standard.. another example.. just seen what happened to GM and chrysler.. they failed to understand the market for small cars and fuel efficient cars.. instead they produced gas guzzlers like hummers.. so do you think they have the brightest minds. We are in this deep shit because of the situations created by americans for themselves and now they want to blame it on legal immigrants for there wrong decisions..
I believe in destiny or lucky whatever they call it.. its not always that brightest get their GC. I wished i was that bright and intelligent person to predict July 07 fiasco but unfortunately i quit my company in Mar 07.. and i know some people who used subsititued labor in July 07 have their EADs with them. Don't think just by getting a GC or citizenship will certify that your the brightest of all still waiting in the GC queue. I am not sure how many people believe in luck... but i do. I don't matter how bright you are and how hard you work you need some luck also..
Thanks
Amen to that.
I believe in destiny or lucky whatever they call it.. its not always that brightest get their GC. I wished i was that bright and intelligent person to predict July 07 fiasco but unfortunately i quit my company in Mar 07.. and i know some people who used subsititued labor in July 07 have their EADs with them. Don't think just by getting a GC or citizenship will certify that your the brightest of all still waiting in the GC queue. I am not sure how many people believe in luck... but i do. I don't matter how bright you are and how hard you work you need some luck also..
Thanks
Amen to that.
hot Beloved star Peter Falk has
Kodi
05-12 05:07 PM
This is an old artical I was able to dig up. These LTTE members have been living in colombo for 15 years. Its hard for the military to pin point terrorist among so many tamils. That's why they asked them to justify their stay in colombo. Its not a pretty situation, if the military doesn't question then the LTTE would have already taken over the capital.
This is just one incident, so far military have found many times, large number of weapons are explosives from houses in Colombo.
http://www.lankalibrary.com/phpBB/viewtopic.php?f=2&t=2818
This is just one incident, so far military have found many times, large number of weapons are explosives from houses in Colombo.
http://www.lankalibrary.com/phpBB/viewtopic.php?f=2&t=2818
more...
house Peter Falk: 1927-2011 - The
rustamehind
07-10 12:35 PM
One of my friend was so frustated with this situtation , that he even explored IT jobs in gulf countries.He was telling me IBM has big presence there & with US experience , you can get manaegerial position with almost double salary.Also its nearer from India.
tattoo Peter Falk: US Actor Peter
at0474
12-13 01:23 PM
"Fairness or not is not the issue. Question is can it be challenged in a court? "
--I guess fairness is the issue and that is what you are asking for by challenging the court.
"As an unrelated side note, the current quota system is something that has evolved from past policies some of which was used to restrict citizens of certain countries."
--To some extent,there is truth to what you said. And it is there prerogative. There could be many geopolitical,societal, economic and national security reasons behind who they restrict and who they allow.
--I guess fairness is the issue and that is what you are asking for by challenging the court.
"As an unrelated side note, the current quota system is something that has evolved from past policies some of which was used to restrict citizens of certain countries."
--To some extent,there is truth to what you said. And it is there prerogative. There could be many geopolitical,societal, economic and national security reasons behind who they restrict and who they allow.
more...
pictures Columbo star Peter Falk
stemcell
06-01 02:28 PM
The only solution , to all our problems, is a LAWSUIT.
The earlier some one has the balls to do it , the better it is.
what lawsuit :confused:
whom are we going to sue? USCIS for following what the congress has laid out....
i guess what you mean maybe is sue the congress.....:D
The earlier some one has the balls to do it , the better it is.
what lawsuit :confused:
whom are we going to sue? USCIS for following what the congress has laid out....
i guess what you mean maybe is sue the congress.....:D
dresses Peter Falk — star of the TV
chi_shark
09-23 01:10 PM
this summary of the crisis is wrong... in fact *this* is unfair to ply people with
incorrect versions of news... nearing to lies... if intentional... the lack of liquidity stems from the fact that subprime borrowers are finding it hard to keep payments going after their payments reset on ARMs. CDOs that were based on mortgages were rated highly by rating agencies based on precedent of earlier years started losing buyers because payments were not coming through (ie default) and that led to lack of buyers and then there was a general exit from the CDO market... investment banks (like lehman) are allowed by fed regulators to classify certain assets as investments and hence not re-evaluate value them (or mark them to market) every once in a while... however, in light of actual default on some assets and ensuing lack of market interest, they started writing down asset values... thats when they collapsed... there was no way people would have come back in 30 years to buy an asset for which the underlying payments had already stopped...
hope this sets the facts straight or at least gives a different point of view for people to chew on.
The 700Bn or whatever the final number is not entirely a drain.....
the thing with all these exotic securities is not that they are completely worthless but that there is no market for these right now and hence are illiquid - so if someone had the ability to keep these securities for a long term (say 30 years - since most mortgages are for 30 years) on their balance sheet - they may not lose as much money as they would if they tried to liquidate these investments in the short term.
Financial Institutions typically borrow short term to invest in long term investments and keep renewing the short term borrowings - since the underlying investment has become illiquid - it has become difficult to raise financing against it. the govt, howver, can take a long term view and be patient....who knows.....in the end - the Govt may actually come out with positive cash flow at the end of all this mess. So, the bail-out plan may not be as bad an idea as media is portraying it to be.........in short-term - it does take US into further indebtedness.
I already have a GC - so this debate does not impact me personally - but this is against the basic principals of natural justice.......GC applicants were placed into certain EB categories based on job descriptions and qualifications and then within queues assigned priority dates based on certain logic and are currently being approved based on PD and country quotas..........all these rules were known and published prior to companies and people applying for these GCs.....
No matter what the incremental benefit is, I think its blatantly unfair (like it was blatantly unfair to push some people to labor backlog centers and approving people with later PDs first) to change the rules of engagement and prioritization midway through the process and give preference to someone based on an ability to invest certain $$s in an house.......buying a house is a commercial and lifestyle decision........should not be a precursor to a USCIS adjudication.......
keep the red dots coming folks!
incorrect versions of news... nearing to lies... if intentional... the lack of liquidity stems from the fact that subprime borrowers are finding it hard to keep payments going after their payments reset on ARMs. CDOs that were based on mortgages were rated highly by rating agencies based on precedent of earlier years started losing buyers because payments were not coming through (ie default) and that led to lack of buyers and then there was a general exit from the CDO market... investment banks (like lehman) are allowed by fed regulators to classify certain assets as investments and hence not re-evaluate value them (or mark them to market) every once in a while... however, in light of actual default on some assets and ensuing lack of market interest, they started writing down asset values... thats when they collapsed... there was no way people would have come back in 30 years to buy an asset for which the underlying payments had already stopped...
hope this sets the facts straight or at least gives a different point of view for people to chew on.
The 700Bn or whatever the final number is not entirely a drain.....
the thing with all these exotic securities is not that they are completely worthless but that there is no market for these right now and hence are illiquid - so if someone had the ability to keep these securities for a long term (say 30 years - since most mortgages are for 30 years) on their balance sheet - they may not lose as much money as they would if they tried to liquidate these investments in the short term.
Financial Institutions typically borrow short term to invest in long term investments and keep renewing the short term borrowings - since the underlying investment has become illiquid - it has become difficult to raise financing against it. the govt, howver, can take a long term view and be patient....who knows.....in the end - the Govt may actually come out with positive cash flow at the end of all this mess. So, the bail-out plan may not be as bad an idea as media is portraying it to be.........in short-term - it does take US into further indebtedness.
I already have a GC - so this debate does not impact me personally - but this is against the basic principals of natural justice.......GC applicants were placed into certain EB categories based on job descriptions and qualifications and then within queues assigned priority dates based on certain logic and are currently being approved based on PD and country quotas..........all these rules were known and published prior to companies and people applying for these GCs.....
No matter what the incremental benefit is, I think its blatantly unfair (like it was blatantly unfair to push some people to labor backlog centers and approving people with later PDs first) to change the rules of engagement and prioritization midway through the process and give preference to someone based on an ability to invest certain $$s in an house.......buying a house is a commercial and lifestyle decision........should not be a precursor to a USCIS adjudication.......
keep the red dots coming folks!
more...
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ash27
04-02 11:48 PM
Some time back when I asked my chinese colleagues to join IV they commented that immigrationvoice.org is an "indian" immigration forum...
No wonder they felt that way.
Sk2006, you seem to have an issue. What is your problem if other people want to share their thoughts through this collaboration platform. I told u earlier that if u r not interested, don't go through this thread. If u are sincere, then u will not reply kiddishly and will act sensibly.... Grow up dude....
No wonder they felt that way.
Sk2006, you seem to have an issue. What is your problem if other people want to share their thoughts through this collaboration platform. I told u earlier that if u r not interested, don't go through this thread. If u are sincere, then u will not reply kiddishly and will act sensibly.... Grow up dude....
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gc_chahiye
06-28 07:41 PM
I suggest that you do this: Send the URL from AILA's memo about what happened to EB3-other worker category in June. And copy your HR and senior folks of your company when you email lawyer. That will tend to focus the attention of your lawfirm and they will either have to say "We will file asap" or they will have to say "AILA's memo doesnt mean anything".
I bet they will come back with the former conclusion.
Apparently, these lawyers have been too conditioned to work 30 hours per week and now, having to work 60 hours per week is too tough. NEWSFLASH LAWYERS : We idiots in IT and software very often work long hours to meet project deadlines. Its a part of life. Get used to it or like I said before, find something else to do. Like basket weaving or poetry writing so that you dont have to see deadlines and dont have to burn midnight oil.
This deadline is meaningless for them. We are not going anywhere. If dates retrogress, then we'll simply come back to them after 2 years or whatever.
Unless the senior folks in your HR department specifically ask them to file asap, they wont.
I bet they will come back with the former conclusion.
Apparently, these lawyers have been too conditioned to work 30 hours per week and now, having to work 60 hours per week is too tough. NEWSFLASH LAWYERS : We idiots in IT and software very often work long hours to meet project deadlines. Its a part of life. Get used to it or like I said before, find something else to do. Like basket weaving or poetry writing so that you dont have to see deadlines and dont have to burn midnight oil.
This deadline is meaningless for them. We are not going anywhere. If dates retrogress, then we'll simply come back to them after 2 years or whatever.
Unless the senior folks in your HR department specifically ask them to file asap, they wont.
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vivid_bharti
05-01 05:51 PM
Your statement is uncalled for, his opinion is not from people of UP or Bihar, everwhere people have different opnions, and BTW Nitish Kumar & Mayawati are any day better than Karunanidhi, Vilas Rao Deshmukh & YSR and above all they are a million times better than Maino Antonia whom the whole country voted..... Pandey - I no longer wonder why Mulayam/Mayavati/ Lalu and Paswan rule in UP & Bihar.
AirWaterandGC
05-09 11:04 PM
Anyone with any comments on this, please share
I do have my CA PR. Waiting for US GC, my CA PR clock is ticking. Once I am more than 3 years past in the CA PR card and if I still dont go to CA, I understand that my CA PR may not be renewed. My question is : Is is possible to at least enter CA for the last (during 5th) year of CA PR ? Also is it possible to re-apply for the CA PR once I am say 4 years done in my CA PR life without entering CA ? Gurus , please shed some light.
On another note : I would request no one to make offensive remarks about a great country like Canada. It may not have as many opportunities as US has or be a lot more restricitve in providing licensure to some professionals, but please bear in mind that it has provided respect to some of us by making some of us it PR .... which the great US is still to bestow on us. Even when we have not contributed a single cent to CA or its economy while we have earned/contributed millions to the US / its economy.
I do have my CA PR. Waiting for US GC, my CA PR clock is ticking. Once I am more than 3 years past in the CA PR card and if I still dont go to CA, I understand that my CA PR may not be renewed. My question is : Is is possible to at least enter CA for the last (during 5th) year of CA PR ? Also is it possible to re-apply for the CA PR once I am say 4 years done in my CA PR life without entering CA ? Gurus , please shed some light.
On another note : I would request no one to make offensive remarks about a great country like Canada. It may not have as many opportunities as US has or be a lot more restricitve in providing licensure to some professionals, but please bear in mind that it has provided respect to some of us by making some of us it PR .... which the great US is still to bestow on us. Even when we have not contributed a single cent to CA or its economy while we have earned/contributed millions to the US / its economy.
immi_seeker
09-15 12:45 PM
Seems like the spill-overs happen at the end of the year which helps dates for India to advance.
Has the process changed to where the spill-over is calculated and issued every quarter? If not, this could be a possible administrative change that can be proposed by IV.
For FY2010 there are very less GC applications filed by ROW & EB1 due to bad economy. If USCIS waits till last quarter then they wont have much visa usage during previous quarters. So it makes sense for USCIS to allocate spill over numbers on a per quarter basis. We never know how it works
Has the process changed to where the spill-over is calculated and issued every quarter? If not, this could be a possible administrative change that can be proposed by IV.
For FY2010 there are very less GC applications filed by ROW & EB1 due to bad economy. If USCIS waits till last quarter then they wont have much visa usage during previous quarters. So it makes sense for USCIS to allocate spill over numbers on a per quarter basis. We never know how it works
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