Monday, June 20, 2011
Saturday, June 18, 2011
Bloomington Normal Central Planners Pt8
The City of Normal's defintiton of Sustainable Development directly states its connection to the Bruntland Commission.
From Normal's 2035 Report:
For the purposes of this project, we have used the widely accepted United Nations Bruntland Commission’s definition (1983):
Sustainability: (n) Meeting the needs of the present without compromising the ability of future generations to meet their own needs.
According to wikipedia the Bruntland Report is also known as "Our Common Future."
From Wikipedia :
The publication of Our Common Future and the work of the World Commission on Environment and Development laid the groundwork for the convening of the 1992 Earth Summit and the adoption of AGENDA 21, the Rio Declaration and to the establishment of the Commission on Sustainable Development.
This commission was chaired by Gro Harlem Bruntland, Prime minister of Norway and Vice-President of the World Socialist Party. According to the website World Socialist Party US their Objective is:
The establishment of a system of society based on the COMMON OWNERSHIP and democratic control of the means and instruments for producing and distributing wealth by and in the interest of society as a whole.
Is the city of Normal basing their ideas of Public-Private Partnerships, Social Justice and Economic Justice on the Objective of the World Socialist Party?
From Normal's 2035 Report:
For the purposes of this project, we have used the widely accepted United Nations Bruntland Commission’s definition (1983):
Sustainability: (n) Meeting the needs of the present without compromising the ability of future generations to meet their own needs.
According to wikipedia the Bruntland Report is also known as "Our Common Future."
From Wikipedia :
The publication of Our Common Future and the work of the World Commission on Environment and Development laid the groundwork for the convening of the 1992 Earth Summit and the adoption of AGENDA 21, the Rio Declaration and to the establishment of the Commission on Sustainable Development.
This commission was chaired by Gro Harlem Bruntland, Prime minister of Norway and Vice-President of the World Socialist Party. According to the website World Socialist Party US their Objective is:
The establishment of a system of society based on the COMMON OWNERSHIP and democratic control of the means and instruments for producing and distributing wealth by and in the interest of society as a whole.
Is the city of Normal basing their ideas of Public-Private Partnerships, Social Justice and Economic Justice on the Objective of the World Socialist Party?
Wednesday, June 1, 2011
Payday Loans Illinois Peoples Action 36% Cap
The Group pushing for this is Illinois Peoples Action which is the downstate branch of the militant Saul Alinsky schooled National Peoples Action whose founder Gale Cincotta is known as the "Mother of the 1977 Community Re-Investment Act" which after continually being modified pushed the government to force banks to give loans to people who normally wouldn't qualify because they couldn't afford them. Over the years they have participated in protests or some say mob actions on private property along with Acorn and SEIU and at times scaring the heck out of kids home alone. Most recently they have participated in protests along with SEIU big man Scott Lerner who is on audio tape wanting to target JP Morgan Chase as a strategy to collapse the US Economy.
Moreover groups like these use many charts and studies from The Center for Responsible Lending in their efforts to Cap or ban Payday Loans. Ironically, Illinois Peoples Action is always out to fight the supposed predatory Banks and yet the Center for Responsible Lending is the child of a major Credit Union called "Self Help" Credit Union which was heavily involved in the Sub Prime Mortgage crisis. The Self Help Credit Union managed to help turn $30 million into $1 Billion during the Crisis. You may recall Saturday Night Live did a skit about two wealthy individuals (man and wife) from California who bundled together millions or more in bad loans and profited greatly from dumping them. The couple had ties to Self Help Credit Union.
In addition Self Help Credit Union has a financial reason to ban Payday Loans. Payday Loans are their competition. Self Help Credit Union specializes in giving loans to people with few options. They charge high Interest Rates and you may say to yourself well that's better than 400% Interest. No it is not! These low income people now without the option of Payday Loans start a cycle of bouncing checks at a high rate. High $30 - $45 fees among some banks add up quickly and as you can see paying $15 for every hundred borrowed at a Payday Lender is alot better than paying High Interest Rates and numerous bounced check fees at a Bank or Credit Union.
Illinois Peoples Action talks about capping loans at 36% which in the real world is proven to put PayDay lenders out of business. 36% would be less than a $1.50 per every hundred borrowed to process a small $200-$300 high risk of default loan. As any reasonable person can quickly see it is not profitable. In Oregon they did a 36% cap and within a year the Payday Loan Industry was basically dead. In North Carolina where 'Self Help" credit Union is based they banned Payday Loans and studies by the New York Federal Reserve showed low income families were devastated by the ban. Bankruptcies soared and the banks immediately made SIX TIMES more (Billions) in Bounced Check Fees. Banning or Capping Payday Loans takes away options from the poor and in some instances they are now forced to turn to Real Loan Sharks, Bankruptcy, Pay Out more in NSF Fees to Banks, Lose Jobs due to no gas Money, Can't repair their cars, buy medicine or food, etc, etc, etc. Other Studies have shown that Communities with PayDay Loan vendors hold up better when they are ravaged by disasters such as Hurricanes or Tornadoes.
Also in Illinois payday Lenders employee 5080 people. Putting them out of business would send thousands to the Unemployment Lines, cause commerical properties to sit vacant, greatly reduce badly needed tax revenues to the State and the local community, cause bankruptcies to soar and cause utter devastation in the low income community. Lastly, they call it payday loan for a reason. You are supposed to pay it back on payday! Stand up for liberty, the working poor by giving them options so they can run their own lives and oppose groups like Illinois Peoples Action who want to run yours!
Moreover groups like these use many charts and studies from The Center for Responsible Lending in their efforts to Cap or ban Payday Loans. Ironically, Illinois Peoples Action is always out to fight the supposed predatory Banks and yet the Center for Responsible Lending is the child of a major Credit Union called "Self Help" Credit Union which was heavily involved in the Sub Prime Mortgage crisis. The Self Help Credit Union managed to help turn $30 million into $1 Billion during the Crisis. You may recall Saturday Night Live did a skit about two wealthy individuals (man and wife) from California who bundled together millions or more in bad loans and profited greatly from dumping them. The couple had ties to Self Help Credit Union.
In addition Self Help Credit Union has a financial reason to ban Payday Loans. Payday Loans are their competition. Self Help Credit Union specializes in giving loans to people with few options. They charge high Interest Rates and you may say to yourself well that's better than 400% Interest. No it is not! These low income people now without the option of Payday Loans start a cycle of bouncing checks at a high rate. High $30 - $45 fees among some banks add up quickly and as you can see paying $15 for every hundred borrowed at a Payday Lender is alot better than paying High Interest Rates and numerous bounced check fees at a Bank or Credit Union.
Illinois Peoples Action talks about capping loans at 36% which in the real world is proven to put PayDay lenders out of business. 36% would be less than a $1.50 per every hundred borrowed to process a small $200-$300 high risk of default loan. As any reasonable person can quickly see it is not profitable. In Oregon they did a 36% cap and within a year the Payday Loan Industry was basically dead. In North Carolina where 'Self Help" credit Union is based they banned Payday Loans and studies by the New York Federal Reserve showed low income families were devastated by the ban. Bankruptcies soared and the banks immediately made SIX TIMES more (Billions) in Bounced Check Fees. Banning or Capping Payday Loans takes away options from the poor and in some instances they are now forced to turn to Real Loan Sharks, Bankruptcy, Pay Out more in NSF Fees to Banks, Lose Jobs due to no gas Money, Can't repair their cars, buy medicine or food, etc, etc, etc. Other Studies have shown that Communities with PayDay Loan vendors hold up better when they are ravaged by disasters such as Hurricanes or Tornadoes.
Also in Illinois payday Lenders employee 5080 people. Putting them out of business would send thousands to the Unemployment Lines, cause commerical properties to sit vacant, greatly reduce badly needed tax revenues to the State and the local community, cause bankruptcies to soar and cause utter devastation in the low income community. Lastly, they call it payday loan for a reason. You are supposed to pay it back on payday! Stand up for liberty, the working poor by giving them options so they can run their own lives and oppose groups like Illinois Peoples Action who want to run yours!
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