Barack Obama

June 26, 2010

Consumers Find Minor Protections Under New Credit Rules

The FED (Federal Reserve) just  created new laws  to regulate credit card companies from “unreasonable” late payment and penalty fees. The new rules also call for issuers to “reconsider” interest rate hikes imposed since 2009. Millions of Americans are dealing with  thousands of dollars of consumer  debt which is drowning them in fees and interest payments.

These new laws will assist  to back-up  other consumer debt  rules that were signed into law by President obama as the “Credit Card Accountability Responsibility Disclosure Act” that  will take effect August 22, 2010.

“The new rules require that late payment and other penalty fees be assessed in a way that is fairer and generally less costly for consumers,” states Federal Reserve Governor Elizabeth A. Duke. “Card issuers must also re-evaluate recent interest-rate increases and, if appropriate, reduce the rate.” 

One of the main pillars  of the latest  rules  is a top  in most late payment fees. Currently many credit card companies are charging $39 or more in late fees; but the latest  rules cap that fee at $25.

Another tenet  is to stop  credit card companies from charging a fee that is larger than the infraction (ie a $5 late payment can only be assessed a $5 fee).

Issuers are also now prohibited from charging multiple fees in response to  a single late payment or other single violation of terms; and “inactivity” fees for the non-use of cards is now prohibited  totally.

One of the ways debtors  had been avoiding such fees is through instant approval credit cards which ordinarily do not have any fee structure .

While  the changes have received some accolades , many more are stating that the  new rules  
 don’t do enough to change the underlying problem; the huge amount of credit card debt that Americans are trying to get out from under.

Paul Hollender from Bloomfield-based firm Corash & Hollender states, ”It’s taking away some of the most outrageous things that credit-card issuers are doing, but I think it’s not enough to stem the tide of impending bankruptcies.” 

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June 11, 2010

Billy Graham And Obama In The News

Billy Graham

Associated Press

President Obama made a pilgrimage Sunday to Billy Graham’s mountainside home, concluding his North Carolina vacation with his first encounter? with the ailing evangelist who has counseled commanders in chief since Dwight Eisenhower.

MONTREAT, N.C. — President Obama made a pilgrimage Sunday to Billy Graham’s mountainside home, concluding his North Carolina vacation with his first meeting with the ailing evangelist who has counseled commanders in chief since Dwight Eisenhower. 

The 48-year-old president made the short drive to Montreat from Asheville, where he spent the weekend, to see the 91-year-old Graham and son Franklin, also an evangelist. 

During the visit, which lasted about 30 minutes, Obama had a private prayer and conversation with Billy Graham. “He is extraordinarily gratified that he took the time to meet with him,” White House spokesman Bill Burton said. 

Afterward, Obama headed to a memorial service in West Virginia for the 29 coal miners killed in an explosion on April 5. 

Burton described Billy Graham as “an important spiritual leader to past presidents” and “a real treasure to our country. And the president appreciates the opportunity to visit him at his home.” 

When obama last spoke with Billy Graham, in a telephone call in November on Graham’s birthday, they said they would try to get together as soon as possible, Burton said. 

“The president wanted to meet with Rev. Graham for a while,” Burton told reporters who were kept outside the Graham compound gate. “They were going to meet during the campaign when he was here for debate prep.” 

Graham’s health prevented that October 2008 meeting from taking place while Obama’s campaign holed up at a resort to practice debate answers. 

Burton said Graham was in good enough health to take the meeting on Sunday, which came up when Obama phoned Graham to wish him a happy birthday last year. 

Asked about Graham’s health, Burton said: “He’s still as sharp as he ever was.” 

DeMoss said the White House requested the meeting several days ago. He noted that the meeting had been tentative, given the president’s schedule and Billy Graham’s unpredictable health. 

Billy Graham’s last crusade was in 2005, in New York. Since his wife’s death nearly three years ago, he has spent most of his time at his home. Public appearances have been rare, and his hearing and eyesight are failing. Graham’s personal spokesman, Larry Ross, said Obama’s visit was the first time a sitting president has met with Graham at his home. 

Franklin Graham has been in the news recently, with the Army rescinding an invitation for him to speak at a Pentagon prayer service, citing what it said were his inappropriate comments about Islam. 

In 2001, the younger Graham described Islam as evil. More recently, he has said he finds Islam offensive and wants Muslims to know that Jesus Christ died for their sins. 

Graham said he regretted that the Army felt its decision was necessary. In a statement, Graham said he would continue to pray for the troops to “give them guidance, wisdom and protection as they serve this great country.” 

Before the meeting with Graham, the president and first lady Michelle Obama played tennis at their Asheville resort.

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February 18, 2010

2/11/10: White House Press Briefing

Filed under: obama speech — Tags: barack, Briefing, Gibbs, house, obama, president, press, white — admin @ 3:26 am

White House Press Briefings are conducted most weekdays from the James S. Brady Press Briefing Room in the West Wing.

Duration : 1:3:23

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Barack Obama Campaign Promise

Quote: “I will promise you this, that if we have not gotten our troops out by the time I am president, it is the first thing I will do. I will get our troops home. We will bring an end to this war. You can take that to the bank. ” – Barack obama campaign Promise – October 27, 2007

Duration : 0:0:15

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Toyota Adding Brake Override; Obama Plans Deficit Panel: Video

Filed under: obama video — Tags: Adding, Bloomberg, Brake, deficit, news, obama, Override;, Panel:, Plans, Television, Toyota, video — admin @ 3:25 am

Feb. 17 (Bloomberg) — Jane King summarizes the top stories this morning on the Bloomberg Business Report. (Source: Bloomberg)

Duration : 0:1:28

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Obama Administration Marks Anniversary of Stimulus Plan: Video

Feb. 17 (Bloomberg) — The Obama administration is marking the one-year anniversary of the economic stimulus legislation with efforts to show the measure sparked U.S. growth and curbed rising unemployment. Bloomberg’s Julianna Goldman reports. (Source: Bloomberg)

Duration : 0:2:31

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Michelle Obama’s Lineage

Filed under: michelle obama — Tags: black, channel, family, first, genealogy, history, house, Lady, Lineage, michelle, month, news, obama, one, Slavery, special, tree, white — admin @ 3:25 am

A genealogist explores the First Lady’s family tree in this special Black History Month segment.

Duration : 0:3:39

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Michelle Obama Declares War on Obesity Which She Calls a National Security Threat

Terrorists can breathe easily in our brave new world. Fatties, watch it. This is war.

Duration : 0:2:45

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February 17, 2010

Obama o Mccain? at Barnes and Noble

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Political Biography & Autobiography – Frank De Varona,Paperback, Spanish-language edition,Pages:275,Pub by Alexandria Library, Incorporated – Obama o Mccain? at Barnes and Noble

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The Freedom Singers Perform at the White House: 8 of 11

The Freedom Singers perform “(Ain’t Gonna let Nobody) Turn me Around” at the White House Celebration of Music from the Civil Rights Movement.

Duration : 0:3:27

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