A Glimpse of the 1999 Financial Services Modernization Act

During the last recession of 1999, regulations were intiated which repealed the Banking Act of 1933. In this undertaking the banks were kept out of heavily being involved in securities and insurance.

If I remember correctly, this law was designed to restore confidence in the financial industry. The move was initiated to extend the opening of loans, investments to insurance. Of course some people debate abiout these initiatives until today including the respect to privacy act as consumer data were being exchanged. The needed ammendment was that consumers must then have been given the right to their personal privacy.

If you look at thrid world poverty stricken countries for example, people with bad credit resort to predatory lender practices such as money stores, finance stores and even payday loans. Today, the so called telecheck services cripples one's individual right to get a loan or even open a bank account because of such report made through computer inquiries aside from the normal consumer credit reporting agencies.

For all we know, much of this personal hardships by people are cause by enormous predaory practices of institutions creating the so called overdraft, non-sufficient fees and service charges. As a personal victim of the scheme I should know as this has given me a lot of struggles. What is suprising to note is that sometimes for a mere $1 you will be extremely penalized from $25 to $33. And of course if we understand the pyschological behavior of people, the said bad financial behavior as some gurus stated may have been caused by severe poverty stricken issues like an extreme medical condition, a job loss, a divorce or real life threatening issues. Of course, this is not to say that some people are really avoiding paying and or are habitual liars. But the question lies is how does a good financier, banker or lender really asssess one's consumer and credit behavior outside the numbers and boxes.

In such countries as mentioned above, there are even some form of discrimination if they are a minority or even based on the personal grooming when we meet potential lenders. Hardly, there are a few analytical thinking financiers who are really knowleadgeable on economics, pyschology or even sociology.

It is always about the numbers, the profits that will be generated or the magnificent potential of products that can be offerred to a potential client.

There are some insitutions who are supposed to be giving outright counseling on improving the financial picture of an individual or business. However, the reality is "time" will heal over and or is there someone that this person can co-sign for the loan.

So before we grill on trying to ask the question of where the bail-out money is sitting, is it being extended to people that need it, are the needed financing being disburse perhaps we should look into the standard accreditation processes. It is a mere basic saying that we can't solve problems if we don't find the root causes and then fix the problem from the roots.

Thus, we can start the forum of asking if we need another financial services modernization act pattern towards the people who are in the worst credit situation, jobless, unemployed and or with limited or no income.

Weekend 'stimulus parties' bring out Obama faithful across the nation - San Jose Mercury News

Link

Work to survive with conscience and integrity

One of the magnificence of capitalism is prosperity. Prosperity leads to growth, satisfaction and even happiness for some.

Unforunately due to the hard economic times sometimes we have to do what we have to do in an effort to struggle to survive.

Here is when ethics and morality towards honesty, sincerity and integrity comes into the picture. In politics, yes there are pros and cons and sometimes we have to be on both sides of the ship.

But each person's desire, destiny, fullfillment and self satisfaction is circumstancial. Just like business enterprises, entrepreneurs have to do what they have to in order to make the business work and succeed. Yet sometimes when we progress we forget the basics. This is especially true when an enterprise get's to hire and involve employees in the chain.

A lot of companies no matter how grandeur that have reach and successes sometimes gradually goes down the hill of triumph. The uncertainties of the hard economic times is a great example today. We have seen the mega bigwigs in the corporate world close their doors and lay-off people in an effort to save face to it's investors.

What happen to days like in the industrial age when real small businesses entrepreneurs go into the front end of the lines to save their business, their lives and their dreams. Then that was sustainability at it's best examples and leaderships.

During the dot.com recession of the 90's, enter the internet age of technology. There were a lot of opportunities created and major companies rose to power. Yet in this day and age not a lot are still run by the same undertaking, philosophy and trait of the original founder. Historically, companies headed by visionary philanthropist who had great visions to help real people are still in business today. This is because no matter what they never forget, they continue to give and understand the pyschology of human nature and behavior.

Yet, some companies that use scrupulous tactics of using other people for their own advancements, mergers and even acquisitions continue to prove themselves inspite of their might, power and glory. Some eventually lost the faith of the consumers, the employees, their clients and paved the way for their own self destruction.

Today as we face one of the greatest battles to struggle a depression, one can do all kinds of things and work but let us not forget about moral ethics. If you are in company with such morality yes you are able to put food on the table but are you happy when you know that other people's lives are at cost just because you are trying to follow what you are told to do by the people you work for.

We make our own lives, we create the environment around us which is why we have now a new administration, new leaders as we were the ones who created the change we know was desperately needed.

As long as we are doing things in the right, moral and ethical ways there is such a thing as destiny as we do create the actual picture and painting for our own individual lives.

The Changing Trend in Business Amidst Global Recession

The Global Economuc Financial Crisis has greatly impact so million lives today. Business has since change the way of capitalism, how companies are run, core competencies achieved and survival tactics to stay in today's business environment.

From long range planners and budgets' of economist and revenue strategist came the stamina of a struggling new small business self employed entrepreneur.

Today, corporate frenzied aloof prestigious business school graduates can no longer use merely their wits by being smart to get ahead of the game. This is about stamina, survival of the fittest, who knows to be multi-task, someone who can do the job from the lowest line employee function to the corner office power CEO or entrepreneur.

The times of corporate greed setting so many bureaucratic red tape, standards, measurements, analytics so as to impress investors and stockholders are no longer viable. Because if companies still continue this same kind of greedy mentality yes they will perhaps not only get turn-over of employees and suppliers but at the same they will lost that chance of getting the yes or outright sale.

When the predators ruled the world of the financial markets, perhaps we can set all the impressive so called standards to impress the greedy investors but where are they are now? Times had change as the reality is that the big guys now need the samll guys more than ever because not only do the small ones have the experience but they have the patience to deal with their idiotic regulations.

Even the so called big capitalist monopolize industries are now experiencing the pain, the more pressure you do on your loyal workforce and suppliers in terms of fullfillment rate, delivery dates, good quality time deliveries but at the same time pay longer will even convince these loyal patriots that you are just in business for your self.

Today's business has bartering back, lay-away's and auctioneering a sign that "cash" is the very much needed fuel more so than reputation or prestige. The business world is about survival today. A mere mistake of getting that greedy sale and delaying those payables will just eventually set the stage for every one else to fail.

When recession a la depression syndrome in the economy is experienced it is like rebuilding from a vast great natural disaster like wars and calamities. The idea should be the cycle of keeping the money flowing from one end to the other so that the entire economy benefits.

The changing trend in business amidst a global recession should be focus on injecting the much need cash to the very bottom in the consumer level, in the home based and small businesses rather than from the corporate bail-outs because no matter what government does that the money will never get down to the very end.

And then when it does not trickle down, they are asking what are they doing wrong that the effect is not immediate when they think they are are doing everything to fuel the economy? Again and again, why not start picking the economic team from the very bottom small home based businesses who lived on $1.00 a day or none so that we can completely analyze trajectory of the right stimulus needed and for the consumer to start spending again.

The Greedy CEO from San Francisco, CA

One of the best things in life are free sometimes in freelance writing. Today, I went under cover to meet the greedy foreign CEO in San Francisco, CA.

Coming from my dad's family of engineers and inventors, sometimes we are familiar names in the world of engineering, manufacturing and design and construction. I have heard of some questionable companies from overseas that are recently in the San Francisco Bay area trying to be "the great consultant's" in the world of patents and inventions. So one day I sent my resume to one of this questionable companies and as expected was called for an interview with a CEO from one such company.

As any sales person would do, I made my research beforehand to know more about the company. Found out the company does a lof of things for medical and manufacturing inventions. This company had postings all over even the internet but did not seem to really ring a bell.

In the magnificent empty office floor in the financial districr I was wondering if it was a start-up as the cubicles were mostly empty and quiet or was struggling. I knew before hand that it has transferred from another office a few blocks down the road but it was supposed to be in existence now for a few years

Sales people are really very good sometimes in accessing what was going on. Mr. CEO was about 20 minutes late but the receptionist was very accomodating.

When Mr. CEO came and he ask about my sales experience I did not use the family background but rather on other sales related experience as the question anyways was about sales exerience. Right there and there immediately, Mr. CEO said that he made a mistake on my resume that it was not a good fit as what they were needing was someone who can speak and understand the Engineering language. He then said if this person was available as this person was from another division selling direct to consumers and then went outside and went back that he was not there but would past on my resume

No where in the original discussions or even postings that the company ever indicated the specific need except they were looking for a person with sales experience.

I guess either Mr. CEO wanted me to lie or immediately turn the situation around to say that I know the engineering language etc.., The culture of best selling practices I guess is not that much important as he was a Mr. CEO who will do everything to sell the product or service.

Of course he and I agreed that it was not a good fit but the question of integrity and sustainability is the point of this story. In selling or perhaps where I come from my training was to know what was the need of the client and the consultative process of fullfilling the need while still being ethical and moral and still making a sale. At least now I understand why the empty cubicles and the quietness of this place. Worse this can be a hoax. All I can say os good luck to Mr. Greedy CEO from San Francisco, CA and I am really sorry for whoever clients, customers and even employees that you will generate from your compelling business practices.

Choosing Inspiration in Times of Crisis and Challenges

Choosing Inspiration in Times of Crisis and Challenges

Staying in touch with reality and spirit is such a big thing during challenging times like we are experiencing in this economic recession.

If it is a major catastrophic event such as job loss, not enough money to pay bills, on the verge of foreclosures, piling debt, and the likes one can only do so much but we can always change our way of thinking such as choosing our own way of inspiring and motivating ourselves.

Taking a small deep breath can be very refreshing for our soul and sanity. It can be merely having some quiet and meditation time, praying, watching TV or maybe perhaps reading a book so that our minds are preoccupied on positive things vis a vis all the negativity that we hear, read and see around us.

When we remember that material things in life were created to give comfort but in the end the most important is our self, our health, our spirit, our self, faith and spirit. Then when one feels inspired you can merely tell the difference it does to effect our lives. Perhaps it's attitude or culture but it is up to us to choose our own destiny.

Having our thoughts are forms of energy harmonizing our spirit so that we can self-realize today, give thanks, and hope and still look forward for tomorrow. By staying in spirit, we are directing and producing the events that occur in our own life no matter what is out there without being non-realistic of the actual realities of life.

Thus is one of the inspiration I had to pre-occupy myself and certainly grateful when I was writing, " How Do U Integrate Success in a Small Business" with ISBN No. 978-143-48-07595 as it gives me more value added to keep on going to be sustainable.

No Money, No Jobs, Nada

No money, no jobs, nada
Is this America? Or are we back to a third world or developing nation somewhere where extreme “POVERTY” is at high, crimes at increasing levels and there are so many homeless people asking for change to survive.
Back in a new high rise building, I was talking to one of the contractors who has been working on the property the last two years. His first statement was that normally in construction, he never runs out of work. There is a job already waiting for him before he even finishes a job like these.
As I was just about to say “same here”, he quickly followed through saying that this is the first time in 20 years that he does not have a job waiting after he completes this one.
Then suddenly I tried to breathe and sigh thinking I am perhaps not that crazy at all. For a while I thought all this madness and suffering of barely surviving was just my own illusion and experience. There are times I would think I did this to myself. Certainly not. It is not also a trend but reality is that it is now a way of life. Whatever happened to the America who use to be the land of dreams?