gcseeker2002
12-28 02:49 PM
I had similar problem with United last year. I was flying thruogh Malaysian airlines and United charged me for extra 20 LBs. But it was checked in till India.
Delta is more helpful that way, one of my friends family had separate tickets on Delta and Malaysian, but the delta checkin guy checked in for both flights upto India, and even allowed the 70lbs on the delta part of the flight.
Delta is more helpful that way, one of my friends family had separate tickets on Delta and Malaysian, but the delta checkin guy checked in for both flights upto India, and even allowed the 70lbs on the delta part of the flight.
wallpaper flower like designs made
Norristown
09-11 08:41 AM
I am a great admirer of IV, because it is the only organization really working for legal immigrants.
Yesterday we are all watching TV,internet for Senate voting on HR5882. Nothing happened.
We are depending on other websites , to know about bill markup. All threads are filling up with all kind of guessing and speculation.
Don't we have any channel (lobbyists) to know whether it is marked up or not?
Yesterday we are all watching TV,internet for Senate voting on HR5882. Nothing happened.
We are depending on other websites , to know about bill markup. All threads are filling up with all kind of guessing and speculation.
Don't we have any channel (lobbyists) to know whether it is marked up or not?
angelfire76
02-13 04:07 PM
His views are distorted.
Can Americans go to India on H1B or similar visa to get work? No? Well, so think about it.
They can get a work permit to work in India. The only requirement is that they have to sign on a police register every month or so. This is because Indian Immigration still has not yet computerized all their records due to little to no demand.
Companies like Infosys and Wipro do hire MBAs and Engineering undergrad students to train in their India offices to understand their business model.
Wait a minute, you are from Germany, a historically xenophobic state. :rolleyes:
Can Americans go to India on H1B or similar visa to get work? No? Well, so think about it.
They can get a work permit to work in India. The only requirement is that they have to sign on a police register every month or so. This is because Indian Immigration still has not yet computerized all their records due to little to no demand.
Companies like Infosys and Wipro do hire MBAs and Engineering undergrad students to train in their India offices to understand their business model.
Wait a minute, you are from Germany, a historically xenophobic state. :rolleyes:
2011 tattoo designs love.
GreenLantern
02-15 06:52 PM
Anybody want to post what they have so far? Please?
more...
arc
09-26 10:45 AM
We should also start using the word Green Card the reporters gets confused by the temp and perm visa or employment based visa... also we should also have designated people to talk to reporters who can explain the problem in nut shell.
dskhabra
03-17 09:46 AM
Guy you are forgetting the 7% per country quota for issuing GC. Applicants from a particular country can only get 7% of the total GC available in a year.
Total employment based quota per year is 140,000 and 7% of it is 9800. So at the most only 9800 Indians can get GC per year. This count also includes the dependents.
So even if your PD is current and you have filed your I-485 but there may be more than 9800 Indians with the same status and hence only the first 9800 will get GC that year.
There are more than 100,000 primary Indian applicants who have filed their I-485 and assuming a average Indian family size of 3, there are 300,000 who are waiting for GC. Only 9800 can get in a year. So if the law does not change this backlog will finish in more than 30 years.
That's true but when unused numbers are used for retrogressed countries then 7% cap is not followed. You can see more than 9800 approvals for India in the last three years. But still it's a looooonnnngggggg wait...........
Total employment based quota per year is 140,000 and 7% of it is 9800. So at the most only 9800 Indians can get GC per year. This count also includes the dependents.
So even if your PD is current and you have filed your I-485 but there may be more than 9800 Indians with the same status and hence only the first 9800 will get GC that year.
There are more than 100,000 primary Indian applicants who have filed their I-485 and assuming a average Indian family size of 3, there are 300,000 who are waiting for GC. Only 9800 can get in a year. So if the law does not change this backlog will finish in more than 30 years.
That's true but when unused numbers are used for retrogressed countries then 7% cap is not followed. You can see more than 9800 approvals for India in the last three years. But still it's a looooonnnngggggg wait...........
more...
BharatPremi
03-17 01:05 PM
42% of all EB3 Green Card has priority date before December 2003!!! Man I am in deep Sh.. hmm trouble.. :eek:
No 42% load is before June 2003 and before, in other words before July 2003.
No 42% load is before June 2003 and before, in other words before July 2003.
2010 Free tattoo designs online
chanduv23
09-02 12:32 AM
All the NJ members - it is very critical that you all attend the rally. As this chapter has been lying dormant for a while, we decided to merge this into the tri state and a lot of NJ members are in the tri state chapter. Those of you who have not joined the tri state chapter, please do so by joining the tri state chapter at
http://groups.yahoo.com/group/immigrationvoiceny/
We are also in need of volunteers to help us in the flyer campaign in the tri state area with main focus on New Jersey.
Please vote your willingness to attend the rally at
http://immigrationvoice.org/forum/showthread.php?t=12872
Also if you want to ride the bus please visit the thread
http://immigrationvoice.org/forum/showthread.php?t=12567
Please PM me or tnite or mpadapa or singhsa3 if you want to volunteer for action items.
http://groups.yahoo.com/group/immigrationvoiceny/
We are also in need of volunteers to help us in the flyer campaign in the tri state area with main focus on New Jersey.
Please vote your willingness to attend the rally at
http://immigrationvoice.org/forum/showthread.php?t=12872
Also if you want to ride the bus please visit the thread
http://immigrationvoice.org/forum/showthread.php?t=12567
Please PM me or tnite or mpadapa or singhsa3 if you want to volunteer for action items.
more...
Jaime
09-10 03:05 PM
You are grossly being taken advantage of - You just met an immigrant from a green card lottery country who applied for a green card over the internet and got it, thanks to the lottery. Good for him or her! But this immigrant has very basic schooling and is just now starting to look for a job in whatever. You, on the other hand, had to go through grueling interview processes at your current company and had to overcome many immigration process hurdles such as Labor certification, to prove that no American was available for your job. Even then, your green card is still many years away. Even with your U.S.-earned PhD or MAsters degree...and you may yet be laid off and forced to immediately leave the United States. If only you had been born in Iceland or Botswana or Kenya and won a green card through the USCIS lottery from an internet cafe in Nairobi!!!! No such luck though!
hair densa, Aztec+tattoos
ash123
02-12 04:04 PM
We have to wake-up before same continue while EAD/AP renewal
more...
alex99
04-08 02:24 PM
(EB1)
2007 2006 2005
26,697 36,960 64,731
(EB2)
44,162 21,911 42,597
(EB3)
85,030 89,922 129,070
How come EB3 is getting major share from the annual limit for last three years(2007,2006, and 2005)
Gurus : please through some light on this?
2007 2006 2005
26,697 36,960 64,731
(EB2)
44,162 21,911 42,597
(EB3)
85,030 89,922 129,070
How come EB3 is getting major share from the annual limit for last three years(2007,2006, and 2005)
Gurus : please through some light on this?
hot oriental dragon tattoo designs
oliTwist
01-17 03:06 PM
Sometime back I had read this book Inscrutable Americans by Anurag Mathur (http://www.amazon.com/Inscrutable-Americans-Anurag-Mathur/dp/1577310241) which is kind of hilarious story of someone like us duriing late 90s. I guess now your (many of our story) would worth another book :)!!
more...
house Tattoo designs are patterns,
Macaca
01-26 08:29 AM
Finally, I understood the purpose of this forum. No, the title is not wrong.
I understand that you are
1. explaining retrogression, and
2. predicting time it will take a person to get GC.
The above are based on
1. applications with USCIS, and
2. USCIS policy to approve GC.
If this is true, it is the first good idea I have seen here. Alisa for president! (Arnold, California Gov, is working on changing rules for naturalized citizens).
I have the following suggestions. I will help after I read everything. Give me some time.
1. Indians are over-represented in IV. Consider the case of a country that is doing better and mention countries that are worst.
2. Write a short paragraph that goes in IV email sales pitch. This has a URL to this complete report.
3. This complete report has URL to USCIS data.
4. We work on similar report (with URLs) on lobbying effort and funding level of anti-immigration organizations.
USCIS numbers and rules are not the only factors against us. The anti-immigrants are a much bigger factor.
5. IV email sales pitch has a para with URL on
a. explaining retrogression (this report).
b. lobbying effort and funding level of opponents (next report).
c. IV's experience with legislation.
d. BEGing for contributions.
6. KISS principle baby: Keep It Simple, Stupid. Too much gymnastics in IV writeups.
I understand that you are
1. explaining retrogression, and
2. predicting time it will take a person to get GC.
The above are based on
1. applications with USCIS, and
2. USCIS policy to approve GC.
If this is true, it is the first good idea I have seen here. Alisa for president! (Arnold, California Gov, is working on changing rules for naturalized citizens).
I have the following suggestions. I will help after I read everything. Give me some time.
1. Indians are over-represented in IV. Consider the case of a country that is doing better and mention countries that are worst.
2. Write a short paragraph that goes in IV email sales pitch. This has a URL to this complete report.
3. This complete report has URL to USCIS data.
4. We work on similar report (with URLs) on lobbying effort and funding level of anti-immigration organizations.
USCIS numbers and rules are not the only factors against us. The anti-immigrants are a much bigger factor.
5. IV email sales pitch has a para with URL on
a. explaining retrogression (this report).
b. lobbying effort and funding level of opponents (next report).
c. IV's experience with legislation.
d. BEGing for contributions.
6. KISS principle baby: Keep It Simple, Stupid. Too much gymnastics in IV writeups.
tattoo Celtic animal designs are
EdenMN
07-13 09:06 AM
I think we should not care 'Is Murthy doing for her publicity / money?' as long as it serves our purpose. We should respect people who are trying to help us . and many folks are blaming she is money minded.... but u know what she runs law firm not non-profitable organization.
In Iv many people are free riders when they can't contribute money to solve their problem why you guys expect Murthy to do charity work ....
In Iv many people are free riders when they can't contribute money to solve their problem why you guys expect Murthy to do charity work ....
more...
pictures Free tattoo flash designs 65
piyu7444
01-30 09:24 PM
Before I answer your questions, I have couple of them -
Will she get paid starting Feb 1st? If no, why not. Please explain.
Will she on unpaid leave?
Will she still be Full Time Employee?
Will she get paid starting Feb 1st? If no, why not. Please explain.
She wont get paid starting Feb 1 but there is an option to get paid from Feb 1 - April 20 as she accumulated some $ when she was working and after April 20 she will be on maternity leave which will be unpaid.
To answer why she will not get paid - she does not have a project right now and dont even plan to find one....(bad economy and no one will be willing to employ a preg. female who will need 6-8 week vacation after 2 month of hire)
Will she on unpaid leave? Yes.
Will she still be Full Time Employee? For the employer C which is a desi consulting firm she is a FTE but you know how the consulting business works........as long as you are on project you get your salary and the day you are not on the project you dont get a dime.
Will she get paid starting Feb 1st? If no, why not. Please explain.
Will she on unpaid leave?
Will she still be Full Time Employee?
Will she get paid starting Feb 1st? If no, why not. Please explain.
She wont get paid starting Feb 1 but there is an option to get paid from Feb 1 - April 20 as she accumulated some $ when she was working and after April 20 she will be on maternity leave which will be unpaid.
To answer why she will not get paid - she does not have a project right now and dont even plan to find one....(bad economy and no one will be willing to employ a preg. female who will need 6-8 week vacation after 2 month of hire)
Will she on unpaid leave? Yes.
Will she still be Full Time Employee? For the employer C which is a desi consulting firm she is a FTE but you know how the consulting business works........as long as you are on project you get your salary and the day you are not on the project you dont get a dime.
dresses Free Dragon Tattoo Designs and
yabadaba
08-21 02:32 PM
luvschocolates: not sure what you are looking for from an employment based immigration site?
You have broken the law and you are illegally here. End of story. Even if there is no one here that will do the job that you do, there has to be documentation that proves that. Immigration law is one of the most complicated laws out there and other than a few categories like family based immigration or diversity lottery based immigration, most forms are extremely complex and reguire legal guidance to do so.
Yours is an open and shut case, no lawyer worth his salt will take you case up for free. Like a poster said earlier, ignorance of the law does not allow you to break it.
By your analogy, if I come from a country where there are no seat belt laws and using my international driver's permit I drive a car without weaing a seatbelt, does not make it ok. When caught, I will be arrested and fined.
In your case it would be easier for you to leave by yourself, rather than risk being deported and getting a 10 year entry ban.
You have broken the law and you are illegally here. End of story. Even if there is no one here that will do the job that you do, there has to be documentation that proves that. Immigration law is one of the most complicated laws out there and other than a few categories like family based immigration or diversity lottery based immigration, most forms are extremely complex and reguire legal guidance to do so.
Yours is an open and shut case, no lawyer worth his salt will take you case up for free. Like a poster said earlier, ignorance of the law does not allow you to break it.
By your analogy, if I come from a country where there are no seat belt laws and using my international driver's permit I drive a car without weaing a seatbelt, does not make it ok. When caught, I will be arrested and fined.
In your case it would be easier for you to leave by yourself, rather than risk being deported and getting a 10 year entry ban.
more...
makeup Celtic tattoo designs.
amsgc
02-04 02:12 AM
See response below.
Folks,
I am not a naysayer, I think the IV core team has done a great job of giving a voice to us.
But, there are a few questions that I am not convinced myself:
1. why remove per country quota just for EB, why not family based immigration as well?
=> Unlike family based immigration, Employment based immigration is based on the expressed need of US businesses for skilled labor. The position filled by EB based immigrants are first advertised in the local market, and if a US Citizen or LPR is not found with the requisite skills, only then is that job offered to a foreigner with the requisite skills. This means that the foreigner is needed by the US business to perform services on a permanent basis. In essence, the US gets a well trained and experienced foreign worker who is able to contribute to the economy on the day he gets his Green Card. It is very important to note that this job offer is made solely on the skills, education and experience of the foreigner, and the need expressed by a business. Also note that these individuals constitute only 14% of total immigration.
On the other hand, there is absolutely no information on how an individual who comes in through family based immigration will be able to find a job, and start contributing to the economy. I am not saying that these individuals are incompetent, only that there is no data on how they will fit in. If you look around you, you will find that most people who enter the US through family based immigration lack language skills, are much older, and find it difficult to start over and assimilate in a new country. Many end up doing odd jobs which can be really frustrating for them. Since there is really no business need for these individuals in this country, and because they are whopping 86% of all immigration, a cap on family based immigration does make sense.
You also need to understand the other important difference – most EB folks have already assimilated into this culture – they have been here for several years, worked a couple of jobs and in many cases attended US graduate schools.
2. what will happen after removing per country limits, what kind of numbers are we looking at? how many new PRs? What is the impact on the country,economic, social, cultural, I do care about the USA.
=> The result of removing per country limits will be that every individual will be given an equal opportunity to immigrate to the US based on their skills, education, and the specific need expressed by a US business. It will be a system where everybody gets in one line - first in, first out. Some will say that the current system is fair because every "country" gets a fair chance. But that is just and attempt to mislead. The "country" does not file a petition to immigrate; it is a skilled individual who files a petition to immigrate based on his skills, education and his requirement in the US.
Regarding numbers - I will give you a simple example. My GC process was started 3 years ago. My co-worker, who is from a non-retrogressed country, started his application last year. We both applied in the same category, and work in similar positions. We also have similar skills - US MS in CS. Because of the country caps, my application is still pending, whereas he already got his GC. If the country caps were removed, my wait time would have reduced by a year, his wait time would have increased by a year - we both would get the GC after waiting approximately the same amount of time. It would have been a first in, first out system. But it is not so, and it needs to be fixed.
Like you, we all care about the USA. I assure you that it will have only a positive social and cultural impact on the US. Why? Because removal of country caps would lead to a system that is based solely on merit and hard work. Isn't that what this country is about?
Regarding diversity – the individuals from retrogressed countries are already here, assimilating into the American fabric. Whether you give them the GC now or ten years from now, they will still be here - it will not change the ethnic character of this country.
3. By asking legislators to remove these per country quota limits, isn't this a paradigm shift in thinking?
=> This is not a paradigm shift. If you open your eyes and ears you will find hundreds of organizations set up across the US to educate and influence lawmakers about policies that should be put in place to better serve this country.
When I, a guy impacted by this EB backlog am not convinced, how the heck are we going to make a case to some congressman/woman?
=> Once you begin to feel the pain, you will understand. Perhaps you are new to the system, and are hoping that it will get better. It will not be long before you will suddenly find that a good number of years have gone by just waiting.
We should definitely move away from this snobbish view that EB folks are better than others, or that the USA needs the EB folks more than EB folks need the USA.
=> I am not sure where you get that EB folks are snobbish. It is not our issue - so whatever FB folks decide, it is up to them. Also, nobody said USA needs more EB folks, US businesses need the EB folks for whom a petition to immigrate has been filed and approved. Get the difference?
That said, I do believe that we have a humanitarian case for folks like us who are already in the queue. Educating congress about the path taken by the average EB immigrant would help.
=> You just contradicted yourself. A few sentences ago you seemed to imply that you really did not understand what could be gained by removing the country caps.
At the end of the day human life is human life even it is it Indian.
=> Really don't know what you are trying to say here. Anyway, if you feel the need to respond to this message, please do so after updating your profile.
Folks,
I am not a naysayer, I think the IV core team has done a great job of giving a voice to us.
But, there are a few questions that I am not convinced myself:
1. why remove per country quota just for EB, why not family based immigration as well?
=> Unlike family based immigration, Employment based immigration is based on the expressed need of US businesses for skilled labor. The position filled by EB based immigrants are first advertised in the local market, and if a US Citizen or LPR is not found with the requisite skills, only then is that job offered to a foreigner with the requisite skills. This means that the foreigner is needed by the US business to perform services on a permanent basis. In essence, the US gets a well trained and experienced foreign worker who is able to contribute to the economy on the day he gets his Green Card. It is very important to note that this job offer is made solely on the skills, education and experience of the foreigner, and the need expressed by a business. Also note that these individuals constitute only 14% of total immigration.
On the other hand, there is absolutely no information on how an individual who comes in through family based immigration will be able to find a job, and start contributing to the economy. I am not saying that these individuals are incompetent, only that there is no data on how they will fit in. If you look around you, you will find that most people who enter the US through family based immigration lack language skills, are much older, and find it difficult to start over and assimilate in a new country. Many end up doing odd jobs which can be really frustrating for them. Since there is really no business need for these individuals in this country, and because they are whopping 86% of all immigration, a cap on family based immigration does make sense.
You also need to understand the other important difference – most EB folks have already assimilated into this culture – they have been here for several years, worked a couple of jobs and in many cases attended US graduate schools.
2. what will happen after removing per country limits, what kind of numbers are we looking at? how many new PRs? What is the impact on the country,economic, social, cultural, I do care about the USA.
=> The result of removing per country limits will be that every individual will be given an equal opportunity to immigrate to the US based on their skills, education, and the specific need expressed by a US business. It will be a system where everybody gets in one line - first in, first out. Some will say that the current system is fair because every "country" gets a fair chance. But that is just and attempt to mislead. The "country" does not file a petition to immigrate; it is a skilled individual who files a petition to immigrate based on his skills, education and his requirement in the US.
Regarding numbers - I will give you a simple example. My GC process was started 3 years ago. My co-worker, who is from a non-retrogressed country, started his application last year. We both applied in the same category, and work in similar positions. We also have similar skills - US MS in CS. Because of the country caps, my application is still pending, whereas he already got his GC. If the country caps were removed, my wait time would have reduced by a year, his wait time would have increased by a year - we both would get the GC after waiting approximately the same amount of time. It would have been a first in, first out system. But it is not so, and it needs to be fixed.
Like you, we all care about the USA. I assure you that it will have only a positive social and cultural impact on the US. Why? Because removal of country caps would lead to a system that is based solely on merit and hard work. Isn't that what this country is about?
Regarding diversity – the individuals from retrogressed countries are already here, assimilating into the American fabric. Whether you give them the GC now or ten years from now, they will still be here - it will not change the ethnic character of this country.
3. By asking legislators to remove these per country quota limits, isn't this a paradigm shift in thinking?
=> This is not a paradigm shift. If you open your eyes and ears you will find hundreds of organizations set up across the US to educate and influence lawmakers about policies that should be put in place to better serve this country.
When I, a guy impacted by this EB backlog am not convinced, how the heck are we going to make a case to some congressman/woman?
=> Once you begin to feel the pain, you will understand. Perhaps you are new to the system, and are hoping that it will get better. It will not be long before you will suddenly find that a good number of years have gone by just waiting.
We should definitely move away from this snobbish view that EB folks are better than others, or that the USA needs the EB folks more than EB folks need the USA.
=> I am not sure where you get that EB folks are snobbish. It is not our issue - so whatever FB folks decide, it is up to them. Also, nobody said USA needs more EB folks, US businesses need the EB folks for whom a petition to immigrate has been filed and approved. Get the difference?
That said, I do believe that we have a humanitarian case for folks like us who are already in the queue. Educating congress about the path taken by the average EB immigrant would help.
=> You just contradicted yourself. A few sentences ago you seemed to imply that you really did not understand what could be gained by removing the country caps.
At the end of the day human life is human life even it is it Indian.
=> Really don't know what you are trying to say here. Anyway, if you feel the need to respond to this message, please do so after updating your profile.
girlfriend Tattoo Designs Wallpapers
varshadas
01-02 10:37 AM
Hi Guys,
I was out last week. I am back now. Last time when we had a conference call, we decided to post flyers about immigration voice in our local communities and also getting in touch with the local newspapers. Since everyone is back from the holidays now, lets have a conference call next Wednesday. Till then, please post as many flyers as possible to increase IV's awareness.
Thanks,
Varsha
I was out last week. I am back now. Last time when we had a conference call, we decided to post flyers about immigration voice in our local communities and also getting in touch with the local newspapers. Since everyone is back from the holidays now, lets have a conference call next Wednesday. Till then, please post as many flyers as possible to increase IV's awareness.
Thanks,
Varsha
hairstyles designs for tattoos for men.
GreenLantern
02-15 06:51 AM
Look at my post count. Does it look like I have a life? :lol:
acecupid
07-13 11:09 AM
Was she sleeping all this while. Why did it take her 2 weeks to respond to the events that occured ? Looks like everyone wants a piggy back ride.:D
We know your selfish intentions !!:eek:
We know your selfish intentions !!:eek:
reddog
09-19 11:50 AM
nojoke, do you even have a job?
why on earth are you so worried.
Your rants are getting endless, you are spreading pessimism everywhere. like you were a hedge fund manager and are going to file bankruptcy.
btw, during the dotcom thing, just the telecom company hit was close to $750 billion. And with the big VC funded ventures completely got wiped out, the losses were much large.
also the people that were affected, huge job losses. thousands of people showing up at small job fairs. it was a recession. economies go into recession, and come out of it.
And media likes pessimism, they like destruction, mayhem. If you have not figured that out yet, it is time.
yes, some of the concerns are valid, but you talk like nostradamus, as if you know whats happenin. like the country is going to pack its bags and every citizen is going back to where their ancestors came from. get real.
economies fail, its how much time it takes to bounce back is what matters.
I would say just chill, spend quality hours at your job then you did before, keep it secure, spend time with your family. live your life happily.
We are citizens of the world and with the globalization that has spread, the ripple effect is going to be felt far and wide.
These Investment banks has presence in over 50 countries worldwide.
You can run, but you cannot hide.
Everybody understands that we get this ups and down. The cycles once in a while gets bad. Very bad. We had great depression. This could be a great depression for the financial market. Lehman, which has survived 150 years and many economic cycles closed 2 days ago. So did Bear strerns fold. The dotcom bubble is what - 100 billion max? 200 billion? Here we are talking about trillion dollars.
FDIC has only 50 billion. It can cover a big bank like washington mutual. Can it take another big bank? Wachovia?
This time it is not going to strengthen US position. China is talking about creating a separate world currency and they are not happy with US currency. If china dumps, dollars, a lot of countries will follow.
This is just financial institues. It will have ripple effect on rest of the economy.
FDIC doesn't protect more than 100K if you open different accounts in the same bank. However joint accounts and beneficiary can get you protected for 200K.
why on earth are you so worried.
Your rants are getting endless, you are spreading pessimism everywhere. like you were a hedge fund manager and are going to file bankruptcy.
btw, during the dotcom thing, just the telecom company hit was close to $750 billion. And with the big VC funded ventures completely got wiped out, the losses were much large.
also the people that were affected, huge job losses. thousands of people showing up at small job fairs. it was a recession. economies go into recession, and come out of it.
And media likes pessimism, they like destruction, mayhem. If you have not figured that out yet, it is time.
yes, some of the concerns are valid, but you talk like nostradamus, as if you know whats happenin. like the country is going to pack its bags and every citizen is going back to where their ancestors came from. get real.
economies fail, its how much time it takes to bounce back is what matters.
I would say just chill, spend quality hours at your job then you did before, keep it secure, spend time with your family. live your life happily.
We are citizens of the world and with the globalization that has spread, the ripple effect is going to be felt far and wide.
These Investment banks has presence in over 50 countries worldwide.
You can run, but you cannot hide.
Everybody understands that we get this ups and down. The cycles once in a while gets bad. Very bad. We had great depression. This could be a great depression for the financial market. Lehman, which has survived 150 years and many economic cycles closed 2 days ago. So did Bear strerns fold. The dotcom bubble is what - 100 billion max? 200 billion? Here we are talking about trillion dollars.
FDIC has only 50 billion. It can cover a big bank like washington mutual. Can it take another big bank? Wachovia?
This time it is not going to strengthen US position. China is talking about creating a separate world currency and they are not happy with US currency. If china dumps, dollars, a lot of countries will follow.
This is just financial institues. It will have ripple effect on rest of the economy.
FDIC doesn't protect more than 100K if you open different accounts in the same bank. However joint accounts and beneficiary can get you protected for 200K.
No comments:
Post a Comment