The koH Resources Blog, All Commercial Financing Information » Reality Check

Happy Independence Day!

braudis — Sun, 04 Jul 2010 19:19:54 +0000

Leading To Something

I Apologize To My Readers

admin — Mon, 03 May 2010 16:02:11 +0000

I fell a bit behind with my blogging in the last three months. In an attempt to provide daily information to my existing readers and obtain new readers, I used Free Traffic System. They boasted free quality articles. I used them for the past week. This was my error and I apologize to my readers. I got a real reality check. The articles they post leave a great deal to be desired in the way of information. Instead, they provide a plethora of opinion, blogger self-promotion and poor grammar.

Federal Reserve Abolished And Currency Issued Only By The Government

braudis — Mon, 16 Nov 2009 04:41:32 +0000

The Federal Reserve abolished and currency issued [slider title="More..."]only by the government… How would you like to soon see that as fact? Some of us are still ignorant of the fact that the national debt is owed to the Federal Bank, a private corporation that prints the money and lends it
to the government of the United States of America with interest. This interest is paid to the Fed. It is not used for what Americans need, like better schools, highways, etc.; it’s used for what the bank needs. Magic, huh?

Zeitgeist The Movie 9 of 13 – Behind Curtain

In my opinion, our government should run the currency and eliminate the current banking system that has burdened our country with incredible debt. Then we will be a free country. Otherwise, this body of ranting and raving that we do everyday, wrapped in the cloth of politics and finance, is pointless. What’s your opinion?

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Goodbye Capital One

braudis — Sat, 07 Nov 2009 02:11:34 +0000

Capital One Financial Corp., which bought Chevy Chase Bank earlier this year, is closing half a dozen branches of Chevy Chase Bank that were erected over the past decade in the Washington, D.C. area “to improve branch efficiency and performance, while also managing costs”.

Capital One merged Chevy Chase Bank into its charter July 30^th and plans to begin converting Chevy Chase to Capital One Bank in the second half of next year. Chevy Chase Bank locations in Bethesda, Hagerstown, Laurel and Rockville will close Dec. 19, 2009. Branches in Waldorf and Bethesda are scheduled to be closed Jan. 9, 2010.

According to deposit figures released by the FDIC on June 30th, Charlotte, N.C.-based Bank of America saw a surge in local deposits and overshot Wachovia Bank, which lost deposits, to become the area’s largest bank. Bank of America’s increase was driven by growth in its retail banking business. The figures are from the FDIC’s annual survey of each branch. McLean-based Chevy Chase Bank also gained ground with deposits, surpassing Atlanta-based Sun Trust Bank to reach third place. Chevy Chase’s figures don’t include deposits held at Capital One Bank, which merged Chevy Chase into its charter after numbers were collected.

Overall, community banks did a little bit better than large banks, taking about 1 percent of local market share from Bank of America, Wachovia, SunTrust, BB, Chevy Chase, Citibank, M&T, PNC, HSBC and TD Bank, which held 80.55 percent of local deposits, down from 81.49 percent a year ago.

So why am I telling you this? Remember my scenario of last month, what the Capital One manager said about not being able to make any adjustments in my favor because of the economy and consequent defaults which gravely effected their bottom line? Well, their bottom line was huge in the black. Don’t take my word for it, get evidence of their earnings straight from Capital One! Goodbye Capital One, there’s something new in my wallet. Hello Community Banks!

President Obama vs. Capital One

braudis — Thu, 29 Oct 2009 18:24:54 +0000

According to an article in Law.com, one can surmise that President Obama’s Credit CARD Act has not given Capital One pause, among other banks like Bank of America; all being banks bailed out by America. The Act limits when credit card interest rates can be increased on existing balances and allows consumers whose interest rates have been increased to reduce their annual percentage rates (APRs) to previous levels if they’ve honored their contract for six months.

Ryan Schneider, president of Capital One Financial, stated in a letter to Rep. Betsy Markey, he will not raise rates as she requested after she had drafted a letter signed by 17 members of Congress. They continue to raise rates in New York, but slyly, through the practice of imposing annual fees that were waived in prior years for their customers in good standing. When annual fees are challenged, they point to the economy and their credit card losses. How ironic and arrogant.

How do I know this? I personally called Capital One on October 27^th and had a major discussion with an account manager about raising interest rates and annual fees. He diplomatically explained to me the business of business: profit; and how their profits had been grossly and negatively affected by current consumer default and late payments (America will see the truth of that at the end of the quarter).

I’m no Ann Minch aka Rockerchic4God, but the silent retort in my head was “Capital One, are you stupid?” My argument was simply that if Capital One or any other bank continually raises interest rates and tacks on or reinstates annual fees, you will continually have credit card default and late payments. I further explained that it makes sense to do for their customers what the Administration did for them. Of course they are not in the business of making sense, so no resolve.

On the evening of October 28^th when I contemplated contacting Suze Orman (since she had Ann Minch on her show), guess who calls me for a chat? Capital One! I was elated! I thought, hey they considered our conversation and they’ll drop the annual fee and return my interest rate to 6.17%. Nope. That makes too much sense. It was a survey. A survey? Yep. A survey to zero in on the issue and the customer service rendered. They asked questions to which I was to answer; but they already knew the answers. I was to rate the answers. Just taking up my time. More arrogance! Let us think credit unions and community banks…

The Federal Bank Is As Federal As Federal Express—Part 3

braudis — Wed, 30 Sep 2009 16:33:23 +0000

I have received tremendous feedback in the form of emails from acquaintances, colleagues and friends who found the video disturbing and unsettling, and since I had not totally researched all its premises, I have decided to remove it. However, I am providing the link in this post and the re-edited previous post.

We are still left with a shroud of questions about this seemingly monolithic, autonomous octopus; this Federal Reserve Bank which I intend to continue to address since it undoubtedly affects the mortgage business and our society in general from plethora to paucity.

The Federal Bank Is As Federal As Federal Express——-Part 2

braudis — Mon, 28 Sep 2009 16:22:58 +0000

When you consider some of the current focus on the Federal Reserve, it’s difficult to ignore the scary elements of this video. Congressman Ron Paul, with tremndous political backing, has proposed the bill, House Resolution 1207, and has accused the Fed of establishing “a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial ‘boom’ followed by a recession or depression when the Fed-created bubble bursts”. If this is true, this would make the Fed “Them” instead of “Us”; and an issue whose implications are way beyond politics, despite all the political fervor.

Is this video true? If so, are the deeds that have been done in darkness slowly becoming apparent in the light? Perhaps… but in my opinion, nobody who supports Democracy, American or otherwise, would want to believe that this video is true. It’s too hard of a pill to swallow… but maybe that’s what “They” are counting on.

The Federal Bank Is As Federal As Federal Express——-Part 1

braudis — Fri, 25 Sep 2009 15:03:53 +0000

The European Central Bank And The US Federal Reserve.The following are excerpts of the publication The Federal Reserve System, Purposes and Functions, 8th edition, December 1994, by the Federal Reserve Board of Governors:

The Federal Reserve System is considered to be an independent central bank. It is, but only in the sense that its decisions do not have to be ratified by the President or anyone else in the executive branch of government. However the entire system is subject to the oversight of Congress because the Constitution gives to Congress the power to coin money and set its value.

In 1913 Congress delegated that power to the Fed, and could reclaim it at any time. The Fed must act within the framework of the overall objectives of economic and financial policy established by Congress. Thus the description of the System as “independent within the government” is more accurate.

So if it’s independent within our government, yet Congress is the body that established policy, does the problem of our current financial predicament rest in the hands of Congress or The Fed? Or both?

This is a short movie about the European Central Bank and the US Fed – the world’s two most important central banks. There are important similarities and differences between the ECB and the Fed, and the historical experience of Europe and the US in the early part of the 20th century is also worth remembering.

The European Central Bank and the US Federal Reserve from Euro Challenge on Vimeo.

This “training video” is a prelude to more in-depth discussions which have presented enigmatic issues seemingly challenged across party lines. Part 2 will require observation with a “strong stomach” and a desire to question everything.

Wells Fargo Bailout and Brokers

braudis — Tue, 15 Sep 2009 16:43:11 +0000

The last time I had communicated with Wells Fargo was in May. They informed me that due to current market conditions, the small balance commercial loans program was being suspended. This was after they had acquired Wachovia; and after telling CBS News in February that they were “positioned well to continue lending across all sectors and satisfying customers” financial needs, which is in the spirit of the Treasury’s plan.”

Today I was informed that they are no longer offering broker transactions. Strange. After receiving $25 billion in government funds, after being involved in one of the largest government-bank transactions in the history of banking, they have decided to no longer engage the transactions of brokers that they heretofore approved. Interesting… especially after just this Monday they fired an executive who was in charge of their foreclosed commercial properties.

Of course this firing took place after an outside investigation. And why was this senior vice president fired? Because she held lavish parties at a foreclosed beachfront Malibu house owned by the bank. Didn’t Wells Fargo have its hands full in February? It said in February that it said that it did not plan any more of these “recognition events” this year. It said at the time that such events were part of its culture, and that it believed in rewarding hard-working team members.

The guys at Wells Fargo may not know how to give (the public) much but they sure know how to receive (cash and benefits for their own pockets) don’t they? But they must be doing something right, since the public at large is also responsible for shares in the bank being up 1.8 percent at $27.92 on Monday. In the past, brokers also helped them with their market shares. And here we are complaining. Or is just me? Crazy world, huh?

Are Some American Banks Un-American?

braudis — Wed, 26 Aug 2009 15:34:32 +0000

Are some American banks un-American? Provocative question? To me, it’s a hard, cold statement that should provoke us to transfer our funds to banks that have not exhibited un-American behavior. Look in your wallets and purses.

Many of us have credit cards. Credit cards issued by American banks, or so it seems. Has your rate gone up since the Recession? Why? In a time of national crisis shouldn’t they go down or at least stay where they were?

I had the opportunity two weeks ago to speak to a Chase manager over the telephone. After typically being informed by a recording that the conversation would be monitored or recorded, I brought up the issue of them receiving “bail-out” funds and maybe it would be good business to help bail-out American consumers and business people by not raising rates and not cutting credit limits which would heighten the debt-ratio and thereby lower scores for many.

Her response was that the funds were returned. “Okay, but what about banks like Capital One? They have pretty much kept their credit card rates low across the board while pushing low-rate car loans, yes?” I asked. She agreed hesitantly, but immediately thereafter countered with a mindless statement “They’re a failing bank. Chase is a healthy bank, that’s why we were able to return the funds.” I wondered about Bank of America.

Whether Capital One is a failing bank or not, is that a relevant remark? I didn’t ask her, but I’m asking you, “If all the banks that returned the funds are healthy banks, (actually they returned the funds to escape further Recession-fighting government regulations) why are they raising rates, decreasing credit limits AND not making any loans to consumers and business people?”

I didn’t ask her this question because I could see the conversation becoming a verbal scrimmage, going on forever without any satisfaction for me other than knowing some American banks are in business to make profits, period. They’re willing to war with the Obama Administration and America because Profits-Only is the country where their allegiance lies.

What do you think?

What’s The Real Deal?

braudis — Thu, 06 Aug 2009 22:55:46 +0000

I’ve given you straight and cold facts for a while. Some things you already know? Maybe. Maybe not. But what is the reality of it all? You’ve heard the phrase “personal reality” when it comes to individual thought. But what about collective reality? What are the “personal” realities of banks and lenders? What’s the real deal?

We know banks are failing. We know this! Big banks! Huge banks! But why? Really, why? It’s not the money! Yes, that’s what I said: it’s not the money. Money is a constant. It exists and will always have some value, period. We created it, so it exists. Anything we create, we can manipulate. So what’s the problem?

The problem is not money, it’s management. Management is the variable. This is the element that changes money. What do I mean? Just look around. For those of you who live and work in or near Cucumonga, CA., you know for sure that last month Vineyard Bank NA in Rancho Cucamonga, Calif., which had approximately $1.9 billion of assets and $1.6 billion of deposits at the end of March, CLOSED.

San Diego-based California Bank & Trust agreed to assume all deposits (except $134 million of brokered accounts) and purchase about $1.8 billion of assets. Temecula Valley Bank, Temecula, Calif.,was closed by the California Department of Financial Institutions, and its assets were assumed by Raleigh, N.C. based First-Citizens Bank and Trust Co. As of May 31, Temecula Valley Bank had total assets of $1.5 billion and total deposits of approximately $1.3 billion. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank and Trust agreed to purchase essentially all of the assets. The FDIC and First-Citizens Bank & Trust entered into a loss-share transaction on approximately $1.3 billion of Temecula Valley Bank’s assets.

BankFirst, Sioux Falls, S.D., and First Piedmont Bank, Winder, Ga., closed as well. The FDIC brokered transactions in which Grand Forks, N.D. based Alerus Financial NA took over BankFirst, and Athens, Ga. based First American Bank & Trust Co. took over First Piedmont.

So four Federal Deposit Insurance Corporation (FDIC) insured institutions were closed and the collective damage on the FDIC’s Deposit Insurance Fund was estimated at $1.09 billion. Here on the one hand you have Vineyard Bank, Temecula valley Bank, BankFirst and First Piedmont, LOSERS; and on the other you have First-Citizens Bank & Trust, Alerus Financial NA, and First American Bank & Trust, WINNERS. Why? Aren’t all those banks on the same planet?

Better yet, in the same month, the Boston office of Holliday Fenoglio Fowler secured $25 million in financing for a 10-story, 159,000-square-foot Class A office building in Boston. Completed in 1990, 101 Merrimac is currently 95% leased. Yes, 95% leased. How is that possible? Aren’t many offices going vacant all over the place? I’ll save that for another post. But what’s your opinion? What’s really our reality? What’s really their reality? Is it mind over money or money over mind? What do you think?

Life

admin — Sun, 01 Feb 2009 03:11:00 +0000

For those who visited previously, you might have noticed that this article was no longer posted for the last several hours. There’s a reason for that: in haste to achieve perfection, I inadvertently deleted it from my blog and its files. Being a newcomer to blogging, when I originally posted it with great excitement, I failed to save it in Word as I did with subsequent articles (all of which have yet to be published). To say I was distraught after the deletion was an understatement. It seemed like the rest of the day was going to be spoiled.

And then with the help of my wonderful companion Vera, I simply relaxed and went about the remainder of the day, assured that it wasn’t a big deal and I would simply re-create it later without a problem. Much later and after a successful tour of Marshalls, I woke up the notebook, confident that everything would be fine. I wasn’t sure how it would be fine, but it would be fine. I was relaxed and focused.

As I sat there and looked for something yet un-materialized, knowing now that with continued effort it would materialize, and BOOM! like right out of The Law of Attraction, the article appeared in its original form from my RSS feed. Yeah!

The moral? Well, for me, there’s actually three. One is obvious: believe. Don’t just believe and sit, believe and DO! The other is to have faith in the helping hand of The Universe and yourself, and support yourself: if I had never subcribed to my own blog, the article would not only have been unrecoverable but it would also have never led to this article. And the third? Well that’s in the article called “Life” presented again below. Soon after I hit the publish button, Vera and I are going to have a cup of tea.

——————————

I’ve heard this story before minus the coffee. I thought it might help others as it has helped me. I enjoyed the addition of the coffee as I had finished enjoying a cup and conversation with my companion of 7 years.When things in your life seem almost too much to handle… when 24 hours in a day are not enough, remember the mayonnaise jar and the 2 cups of coffee:

A professor stood before his philosophy class and had some items in front of him. When the class began, he wordlessly picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed it was. The professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full, and the students responded with a unanimous “Yes.” The professor then produced two cups of coffee from under the table and poured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed.

Now, said the professor, as the laughter subsided, I want you to recognize that this jar represents your life. The golf balls are the important things. Your family, your children, God, your health, your friends, and your favorite passions. And if everything else was lost and only they remained, your life would still be full.

The pebbles are the other things that matter like your job, your house, and your car. And the sand, is everything else. All the small stuff. If you put the sand into the jar first, there is no room for the pebbles or the golf balls. And the same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you.

Pay attention to the things that are critical to your happiness. Play with your children. Spend time with your parents. Visit with grandparents. Take time to get medical checkups. Take your spouse out to dinner. Play another 18 holes. There will always be time to clean the house and fix the disposal. Take care of your golf balls first — the things that really matter. Set your priorities — the rest is sand.

One of the students raised her hand and asked what the coffee represented. The professor smiled and said, “The coffee just shows you that no matter how full your life may seem, there’s always room to sit down and have a couple of cups of coffee with a friend.”

The koH Resources Blog, All Commercial Financing Information » Reality Check

Happy Independence Day!

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