Last week we saw how Baltimore's Development Corporation is filling with global banks, global investment firms, global real estate developers, and global staffing corporations. What do the citizens of Baltimore want? They want their government back.
I shared the immigration bill pushed by Obama and Clinton neo-liberals as PROGRESSIVE having only a goal of bringing more and more immigrants to work in US global corporate factories working under the same conditions as back in their developing world nation.
NOTHING PROGRESSIVE ABOUT THAT----OH, THEY MEAN MAKING THE RICH PROGRESSIVELY RICHER.
All this is doing is breaking citizens from around the world from their own nations and culture in pursuit of any jobs and that is just what US International Economic Zones under Trans Pacific Trade Pact will make of US citizens....sent globally just looking for a job.
I shared a post stating which universities have grads receiving highest pay ----and I shared that many US citizens are now traveling all over the nation following contract work. Well, both of these groups will become the ones called EX-PATS. This has hit southern states for a few decades as citizens in the south are more tied to global military and global energy (oil and fracking). This past decade under Obama has seen our young people leaving as Obama allowed Wall Street and global corporations keep our US economy stagnant and unemployment higher and higher.
What US citizens find to be strong wages in these ex-pat jobs will see those same jobs become third world---ex-pats will be paid whatever that nation pays its people. Moving Americans overseas for higher paying jobs----and then leaving them to become part of the global labor pool.
THE AMERICAN PEOPLE MUST STOP ALLOWING WALL STREET LEAD US BY THE NOSE TO WHAT WE THINK IS THE ONLY ROUTE TO FIRST WORLD MIDDLE-CLASS WAGES.
This is just what imperialism looked like in the 1600-1700s.
A Growing Trend of Leaving America
By some estimates 3 million citizens become expatriates a year, but most not for political reasons.
By Jay Tolson | Staff Writer July 28, 2008, at 1:07 p.m.
A Growing Trend of Leaving America
American voters at a polling station in Ajijic, Mexico. Expats also voted by fax and Internet. (Guillermo Arias/AP)
PANAMA CITY, PANAMA—Dressed in workout casual and sipping a soda in one of the apartment-style rooms of Los Cuatro Tulipanes hotel, Matt Landau appears very much at home in Panama. One might even be tempted to call him an old hand were he not, at age 25, so confoundingly young. Part owner of this lovely boutique hotel in Panama City's historic Casco Viejo, he is also a travel writer (99 Things to Do in Costa Rica), a real estate marketing consultant, and editor of The Panama Report, an online news and opinion monthly. Between fielding occasional calls and text messages, the New Jersey native is explaining what drew him here, by way of Costa Rica, after he graduated from college in 2005. In addition to having great weather, pristine beaches, a rich melting-pot culture, a reliable infrastructure, and a clean-enough legal system, "what Panama is all about," he says, "is the chance to get into some kind of market first." Landau cites other attractions: "There is more room for error here," he says. "You can make mistakes without being put under. That, to me, as an entrepreneur, is the biggest draw."
Long a business and trade hub, Panama has been booming ever since the United States gave it full control of the Canal Zone in 1999. But as Landau says, it is precisely because so much of Panama's economy has been focused on canal-related activities that opportunities in other sectors, from real estate to finance to a host of basic services, have gone largely untapped. And among the many foreigners coming to tap them—as well as to enjoy the good life that Panama offers—are a sizable number of Americans.
These Yankees, it turns out, are part of a larger American phenomenon: a wave of native-born citizens who are going abroad in search of new challenges, opportunities, and more congenial ways of life.
In his recent book Bad Money, political commentator Kevin Phillips warns that an unprecedented number of citizens, fed up with failed politics and a souring economy, have already departed for other countries, with even larger numbers planning to do so soon. But that may be putting too negative a reading on this little-noticed trend. In fact, most of today's expats are not part of a new Lost Generation, moving to Paris or other European haunts to nurse their disillusionment and write their novels. Some may be artists and bohemians, but many more are entrepreneurs, teachers, or skilled knowledge workers in the globalized high-tech economy. Others are members of a retirement bulge that is stretching pensions and IRAs by living abroad. And while a high percentage of expats are unhappy with the rightward tilt of George Bush's America, most don't see their decision to move overseas as a political statement.
Southward trend. Europe still draws many of these American emigrants, but even more have relocated in Canada and Mexico. Others are trying out Australia, New Zealand, or one of the new economies of Asia, while a growing stream flows southward to Central and South America. John Wennersten, author of Leaving America: The New Expatriate Generation and a retired historian who has taught for many years abroad, says Panama is the "new new thing" for those who are part of what he calls "a long-term trend."
Exactly how many people are part of this trend is hard to say. Precise emigration figures have never been easy to come by in the United States. "It's been an implicit assumption that people come here to stay, not to come and go," says Mike Hoefer, head of the Office of Immigration Statistics at the Department of Homeland Security. The government's last trial effort to count Americans overseas, in 1999, was deemed inordinately expensive. Elizabeth Grieco, chief of immigration statistics at the U.S. Census Bureau, puts it bluntly: "We don't count U.S. citizens living abroad."
But if the government is not counting, others are. Estimates made by organizations such as the Association of Americans Resident Overseas put the number of nongovernment-employed Americans living abroad anywhere between 4 million and 7 million, a range whose low end is based loosely on the government's trial count in 1999. Focusing on households rather than individuals (and excluding households in which any member has been sent overseas either by the government or private companies), a series of recent Zogby polls commissioned by New Global Initiatives, a consulting firm, yielded surprising results: 1.6 million U.S. households had already determined to relocate abroad; an additional 1.8 million households were seriously considering such a move, while 7.7 million more were "somewhat seriously" contemplating it. If the data collected in the seven polls conducted between 2005 and 2007 are fairly representative of the current decade, then, by a modest estimate, at least 3 million U.S. citizens a year are venturing abroad. More interesting, the biggest number of relocating households is not those with people in or approaching retirement but those with adults ranging from 25 to 34 years old.
According to Robert Adams, the CEO of New Global Initiatives, the motives of relocators are almost as hard to pin down as the numbers. "The only Americans who understand what's going on are those living abroad," he says. "There is no movement, no leader. It's just millions of people making individual decisions to do it."
Now living mostly in Panama City, Adams finds that the reasons people give for moving abroad often change, particularly among those who stay overseas for any length of time. In fact, he says, those who claim they came for a specific reason—for example, dissatisfaction with American politics—tend to be least happy with what they find in the new settings. By and large, most successful Americans abroad "are running to rather than running from," Adams stresses.
A new "West."
Some observers even wonder whether words such as migration, emigration, and expatriation accurately describe most Americans' ventures abroad. Today, moving from the States to a place like Panama is almost tantamout to moving from the East Coast to the West Coast 50 years ago. And the Internet, Skype, and satellite television make it easy for people to stay in touch with the homeland. "While people are looking for something new, they're not giving up their citizenship," says Adams, who prefers the word relocation to emigration.
While American relocators are in some ways typical pioneers looking for a new "West," they are also participants in a larger, international development, "a global economic shift," Wennersten writes, "that is fostering real economic growth in heretofore-neglected areas of the world, like Latin America, Eastern Europe, and Southeast Asia." U.S. citizens are certainly not the sole beneficiaries of this shift, but they are active players in countries where the privatizing of former state-run industries and the opening of new capital and trade markets are creating an array of opportunities. "From computer consulting firms in Hong Kong to bagel shops in Budapest," Wennersten notes, "Americans are helping to revitalize or sustain economies that are receptive to Western entrepreneurship."
Talk to some of the successful American relocators around the world and the broad generalizations about them tend to hold up—though not so much as to overwhelm the huge variety of experience and achievement that distinguishes their lives. Michael Sheren, 45, who worked for Chemical Bank in New York in his early career, came to England in 1997 primarily to apply his background in leveraged buy-outs to the European market. Now working in the London office of Calyon Crédit Agricole, a French bank, he credits his American training and drive for giving him a leg up in his work. America's image abroad has suffered during the Bush years, he acknowledges, but he finds that Europeans still value the can-do spirit of Americans. "People equate Ameri-ca with success, even now," he says.
While business is what initially drew him to England, Sheren is now deeply attached to the British way of life. That includes everything from a generous government-backed system of social supports for all citizens to a mentality that is more comfortable with leisure. "I consider the quality of life here significantly better than what I would have over there," he says.
Sheren acquired British citizenship and has at times been tempted to abandon his American one, but he attaches relatively little importance to nationality. His closest friends are an international lot, and he greatly values the freedom of movement that comes with a European passport. "I feel more like a sovereign individual," he says, using the label coined by authors James Dale Davidson and William Rees-Mogg in their book, The Sovereign Individual: Mastering the Transition to the Information Age.
Immersion. Cynthia Barcomi, a Seattle-born artist, writer, and entrepreneur who came to Berlin in 1985 to launch her professional dancing career, stresses how different the expatriate life is from that of Americans who have been sent abroad by the government or private business. To her, it involves a much deeper immersion in the new culture. Like many of the relocators that Adams and Wennersten have dealt with, Barcomi says her motive for moving was more a deep hunch than a single, clearly articulated reason. She had seen a lot of German dance while a student at Columbia University, but she calls her final leap "a blind decision." She didn't even speak German.
After eight years with a professional dance troupe, Barcomi decided on another leap, this one into a new career as the founder and operator of what is now one of Berlin's most prominent coffee and baked goods stores. So successful did that venture prove that she later opened a deli under the Barcomi name. And between raising her children, she has written two respected cookbooks.
Barcomi's reflections on her expatriate life are nuanced: "I feel like the longer I live in Germany, the more I identify with being an American. It takes a while to realize how different we are from the Germans." But Barcomi also says that she has no intention of returning to the United States, even though she would never give up her passport. "I can't imagine living in the American rat race, even though I love Ameri-ca. I wouldn't leave here. I'm at the top of my game."
Like Sheren, Barcomi feels that her American attitudes and education, including her Girl Scout training, prepared her well for a successful life abroad. "I think perseverance is a distinctly American quality."
One big question is whether America is ultimately gaining or losing from this movement of bold, talented Americans into other countries. The answer is not simple. Wennersten cites what he estimates is a loss of about $30 billion in payroll, but he considers the outflow of expertise an even bigger potential drain. "It's not the average guys who are going," he says. "It's these 'crea-tives' who will be establishing the paradigm of the future."
Whether the relocation trend is heading toward a zero-sum outcome is something that you can't help pondering when you meet young American expatriates in Panama. If what they bring here in terms of skills, knowledge, and energy is Panama's gain, is America necessarily a loser?
Not if you look at what Jon Hurst is doing. Before starting the New York Bagel Café in the Cangrejo ("Crab") neighborhood of Panama City, the 38-year-old Arkansas native had spent a good part of his life helping others, from working with disabled adults in California to stints in the Peace Corps and the Crisis Corps in Central America. In fact, he sees the business he launched in 2006 as an extension of what he had recently been doing for an organization that focused on sustainable development in Panama and nearby countries. "One of the reasons I opened this place is to create a sustainable business that would help the local community," says Hurst.
Coupling hard work with idealism, Hurst has built a store that has become a hub in this oldish, artsy quarter. His eight Panamanian employees are well paid and are learning about all aspects of the food business. The free WiFi and all-you-can-drink coffee, in addition to bagels and sandwiches, draw a lively mix of customers who conduct business, check their E-mail, or simply meet with friends. And while there are great challenges to life in Panama City, from appalling traffic to difficulty in getting equipment repairs, Hurst finds the Panamanians friendly and the local conditions (particularly the free trade zone and a modest regulatory regime) especially hospitable to small business. The Panamanian government encourages foreign entrepreneurs by giving microinvestor visas to those who put up at least $50,000 and employ at least three Panamanians. "I couldn't have opened this type of business in the States," says Hurst, who makes the same point that Landau does: "Here there's no one competing against me."
It may not be much of a stretch to say that today one of America's strongest exports is its skilled, energetic, and often idealistic relocators. If America's information-driven economy is the engine of globalization, it is fitting that Americans are working in those parts of the world that are being transformed by the process. They make up an entrepreneurial "peace corps"—establishing businesses, employing, instructing, setting examples, and often currying goodwill. It is a cliché, but still largely true, that many foreigners say that they distrust America but like Americans. These relocators have something to do with this.
And America itself is also learning something from those Americans abroad. "We're developing a breed of Americans who won't find it easy to go back home," says Adams, stating a truth that is not as negative as it sounds. Two Americans who exemplify that breed are Coley and Allison Hudgins, a couple with backgrounds in political and corporate consulting who now live in a small Pacific coast community about two hours from Panama City. She and a partner run a small short-term rental agency, while he and an associate head Latin American Venture Partners, locating investors for assorted building proj-ects in the country.
Doing most of their work out of their condo, the Hudginses have two young children whose edu-cation at a local Spanish-language Catholic school is supplemented with materials that their mother downloads from the Internet. Describing themselves as libertarians, the Hudginses went abroad out of discontent, not with American politics but with a dull sameness they found in American suburban life. Even though they did extensive planning for the move, they admit that the challenges of the new life are considerable. (Some of the greater ones are imposed by the U.S. government, which, though it grants an exemption of close to $86,000 of earnings, is the only developed nation that taxes citizens who are living abroad and paying foreign income taxes.) But both are quick to say that the rewards far outweigh the difficulties. In addition to valuing the warm weather, the idyllic setting, a close family life, and a busy social schedule, both are clearly invigorated by days that that are demanding but not stressful in a culture that blends the modern and the traditional in a comfortable way. They appreciate the irony that American know-how and technology (largely the Internet) make it possible for them to enjoy what is in many ways a very un-American lifestyle. But they are doubtful whether they can go home again. "We may decide to pack up and move on one day," Allison says. "But it's more likely that we'd find some new port of call than move back to the States."
Even if they don't return home, though, it is unlikely that what the Hudginses and other creative American relocators do will be lost on their compatriots back home. These relocators are part of a vast, generally benign cultural exchange, channeling different mores, attitudes, and ways of life back to America, even while bringing some distinctively American skills and attitudes to the wider world. Globalization may still seem like a grand abstraction, involving vast, impersonal forces, but the millions of Americans living and working abroad are part of its very human reality.
The goal of today's Baltimore Development Corporation is to fill Baltimore with foreign corporations and businesses leaving Americans with only global/foreign corporations for which to work. A US International Economic Zone would have those foreign corporations operating as they do overseas---here we see that Wall Street Clinton/Obama ONE WORLD construct working out of Maryland's corporate universities. Remember, Maryland was ranked #1 by Education Week these several years because it has taken ALL OF ITS UNIVERSITIES global and each of them works to install the ONE WORLD ONE GLOBAL CORPORATE RULE bringing America down to third world status.
This is the source as well to the Wall Street Development Corporation 'labor and justice' organizations pretending to be fighting injustice in Baltimore while promoting the establishment candidates creating these bad policies. They do the same as NGOs in developing nations simply using people to install these global corporate campuses and global factories.
CIED partners with Maryland DBED to host Turkish ICT Delegation
Posted on June 11, 2015 by adminJune 5, 2015. College Park, MD, USA
CIED partnered with The Maryland Department of Business and Economic Development, University of Maryland’s Smith School of Business and the Embassy of Turkey to host a one-day networking event aimed at connecting Maryland Information Technology and Software Firms with a delegation of Turkey’s most innovative Technology Firms focused on Big Data, Cyber Security, SaaS, Health Technology, and Financial sectors.
The event was an outstanding success with more than 15 Turkish companies getting an opportunity to interact first hand with more than a dozen Maryland companies in a very interactive format.
The event was a flagship was first in a series of events planned by CIED aimed at opening the doors to global trade and entrepreneurship for US companies in general, and Maryland companies in particular.
Below you see where any economic activity in the US during Obama's terms went----each time a global 1% is allowed to buy citizenship---they then become that advocate to breaking down all our US Constitutional protections against monopoly, anti-trust, and national, state, and local sovereignty. This is the Clinton NEW AMERICAN branch of the neo-liberal caucus representing those global foreign corporations gaining wealth.
Now, if BRIC (Brazil, Russia, India, and China) were smart enough to create their own World Bank and economic development structures then who are these foreign business people bring their wealth into the Wall Street wealth trap?
It is very likely that what look like foreign corporations and businesses are simply global hedge funds and global corporations creating subsidiaries and headquartering them in developing nations so they can operate in the US as they do overseas. Any REAL foreign investors and businesses will lose their assets soon enough.
Why does CLINTON/BUSH/OBAMA FEEL THE NEED TO RECRUIT OVERSEAS INVESTORS? THE AMERICAN PEOPLE HAVE HAD ALL THEIR WEALTH AND ASSETS TAKEN AND THE COMING GENERATION WILL HAVE NO OUTLET TO CREATING BUSINESSES---THEY WILL BE THAT CHEAP LABOR GLOBAL CORPORATIONS COME FOR IN DEVELOPING NATIONS.
The White House
Office of the Press Secretary
For Immediate Release
October 31, 2013
New Report: Foreign Direct Investment In the United States
Report Prepared by the Department of Commerce and the President’s Council of Economic Advisers:
The United States has been the world’s largest recipient of foreign direct investment (FDI) since 2006. Every day, foreign companies establish new operations in the United States or provide additional capital to established businesses. With the world’s largest consumer market, skilled and productive workers, a highly innovative environment, appropriate legal protections, a predictable regulatory environment, and a growing energy sector, the United States offers an attractive investment climate for firms across the globe.
Foreign direct investment in the United States is substantial
- In 2012, net U.S. assets of foreign affiliates totaled $3.9 trillion. The United States consistently ranks as one of the top destinations in the world for foreign direct investment (FDI), with inflows totaling $1.5 trillion in FDI just since 2006. For 2012, FDI inflows totaled $166 billion.
- The U.S. manufacturing sector draws a considerable share of FDI dollars, led by pharmaceuticals and petroleum and coal products. Outside manufacturing, wholesale trade; mining; non-bank holding companies; finance and insurance; and banking receive the greatest shares of foreign investment.
- Investment flows into the United States come mostly from a small number of industrial countries. Since 2010, Japan, Canada, Australia, Korea, and seven European countries[i] collectively have accounted for more than 80 percent of new FDI. Although still small, flows from emerging economies like China and Brazil are growing rapidly.
- In 2011, value-added by majority-owned U.S. affiliates of foreign companies accounted for 4.7 percent of total U.S. private output.
- These firms employed 5.6 million people in the United States, or 4.1 percent of private-sector employment. About one-third of jobs at U.S. affiliates are in the manufacturing sector.
- These affiliates account for 9.6 percent of U.S. private investment and 15.9 percent of U.S. private research and development spending.
- In the 2008-09 recession and subsequent recovery, employment at U.S. affiliates was more stable than overall private-sector employment. As a result, U.S. affiliates’ share of total U.S. manufacturing employment rose from 14.8 percent in 2007 to 17.8 percent in 2011.
- Compensation at U.S. affiliates has been consistently higher than the U.S. average over time, and the differential holds for both manufacturing and non-manufacturing jobs.
We saw an article with a Ghana bank buying a Chicago black banking business and we see here a criminal and corrupt bank from Chicago going to Africa. African citizens made rich by joining this global Wall Street---Nigeria, Ghana, South Africa----we be those very banking systems targeted by global Wall Street to fail in this coming economic crash from bond market fraud. Global Wall Street and the FED has again tied global economies and banks to this massive US Treasury and US municipal bond fraud and a world collapsing economy will wipe out banks just like these. Remember, global financial analysts predicted years ago that is economic crash will take out community banks, credit unions, and these third world banking structures moving all that wealth to the 1%.
As they do this, people crazy enough to move any of their foreign assets to start a business-----or in the case of ANGLE AND VENTURE CAPITALISTS luring foreign citizens to use their money to start a business in a US city deemed an International Economic Zone---is simply setting themselves up for Wall Street and venture capitalists to steal THOSE FOREIGN INVESTORS AND BUSINESSES' ASSETS. American citizens dealing with these new foreign businesses will lose as well as those foreign investors.
So, who wins? Here we see Obama as a Chicago pol tied to this mess and yes, he was given a pathway to a national job where he will likely keep his wealth. Maxine Waters and her husband has been tied to these bank frauds for a few decades as with Nancy Pelosi. These national pols may indeed keep their wealth for a while----but the global 1% sees these newly rich as their next target----don't count on these 5% to keep that wealth.
That is the goals of all these OPEN BORDER FOREIGN INVESTOR'S COMING TO THE US.
The shady ShoreBank bailout
By Michelle Malkin • May 21, 2010 09:36 AM
The shady ShoreBank bailout
by Michelle Malkin
“No more bailouts, no more greed, how many profits do you need?”
That’s been a signature chant of community organizers and Big Labor thugs who have stormed bank offices and financial executives’ private homes decrying corporate welfare over the past several months. But now that the federal government and a coalition of big banking interests are poised to bail out a crony Chicago bank with longtime ties to the Obama administration, Saul Alinsky’s avenging angels are nowhere to be found.
ShoreBank is a Windy City investment bank with all the right (or, rather, left) ties. Its stated progressive mission isn’t merely to make good lending decisions, but to engage in Barack Obama-esque social engineering to “create economic equity and a healthy environment.” The ShoreBank corporate slogan: “Let’s change the world.”
The company website features a video of Obama in Kenya championing ShoreBank microlending projects overseas. ShoreBank has also touted itself as a “green” bank from its founding days — promoting dubious carbon credit programs, subjecting new borrowers to eco-litmus tests (“we look at how you use water, how you recover water and clean it, how you use energy, if you produce clean energy, how you manage CO2, whether you are offsetting CO2 that your product produces, if you are using sustainably produced materials”) and encouraging customers to participate in “EcoDeposits” to “directly support the green agenda.”
Social and environmental justice may make for good Volvo bumper stickers. They do not, however, make for a good bottom line. While the bank was on do-gooder missions around the world, business at home was in trouble. As The Wall Street Journal reported, “Losses racked up during the recession have left the bank facing a demand to raise new capital or face likely closure by regulators.”
Enter the Chicago political friends and family of ShoreBank. The ties are long and deep, as the Central Illinois 9/12 Project has been chronicling for months:
— ShoreBank co-founder Jan Piercy was a Wellesley College roommate of Hillary Clinton’s, who has long supported the bank along with former president Bill Clinton.
— Former ShoreBank Vice Chairman Bob Nash worked for Mrs. Clinton’s presidential bid as deputy campaign manager. Board of Directors member Howard Stanback is a Hyde Park neighborhood pal of President Obama, who served with Stanback on the board of the radical Woods Fund (where Weather Underground terrorist Bill Ayers also sat).
— White House senior advisor Valerie Jarrett served on the board of Chicago Metropolis 2020 with ShoreBank Director Adele Simmons, former president of the liberal MacArthur Foundation, where she focused on “climate change” and “global governance” issues.
— The bank and its employees donated some $12,000 to the Obama 2008 presidential campaign, and co-founder Mary Houghton reportedly gave advice to Obama’s late mother about small business lending issues.
In other words: ShoreBank is too politically connected to fail. And now you, the taxpayer, may be on the hook for helping its cronies engineer a special rescue. Fox Business News reported this week that a consortium of large lenders — including Goldman Sachs, Citigroup and GE Capital — have partnered with the feds to pitch in a combined $200 million public-private bailout. (In addition, Illinois Democrat Rep. Jan Schakowsky has been crusading for a state-level bailout of the beleaguered bank.) The buzz on both Wall Street and Capitol Hill is that Goldman and perhaps others in the public-private partnership were pressured to lend a hand.
It wouldn’t be the first time that businesses have felt the Obama squeeze. And it wouldn’t be the first time that Democrats exploited the financial crisis to milk public money for their banking cronies.
The laggardly House Ethics Committee is still investigating Democrat California Rep. Maxine Waters, who had a personal and financial stake in Boston-based OneUnited, a minority bank that received $12 million in TARP bailout money under smelly circumstances. The bank’s executives donated $12,500 to her congressional campaigns. Her husband, Sidney Williams, was an investor in one of the banks that merged into OneUnited. Waters secured meetings between OneUnited execs and Treasury Department officials.
That probe has dragged on for nearly a year, which doesn’t bode well for fresh GOP demands for an investigation into the shady ShoreBank bailout. House Financial Services Committee ranking minority member Spencer Bachus, R-Ala., has demanded that the White House cough up documentation about any possible overt contact with Goldman about the deal.
Team Obama is smarter than that, of course. To quote Obama’s environmental czar Carol Browner, who pressured auto industry execs last year to cooperate on a fuel standards increase, they know “to put nothing in writing, ever.”
The fingerprints may be missing, but the stench of the Chicago Way is impossible to cover up.
I have shouted for a decade that our frats and free masons were duped by Clinton and Wall Street to push all these frauds, corruption, movement of wealth to the top and now this OPEN BORDER ONE WORLD structure being built in our US cities. The SECRET HANDSHAKE AND FUNNY HAT people have been duped big time and are that 5% of 1% now being thrown under the bus.
Baltimore citizens unfortunately have a strong connection to all these business associations----it runs through all our leadership and it's why a Bloomberg University formerly Johns Hopkins and a Wall STreet Baltimore Development gained so strong a hold of our city government. I am sure these US 5% are being told to invest overseas while these foreign businesses and individuals are being brought to the US----and BOTH GROUPS WILL LOSE THEIR SOCKS.
This easiest way for the 1% to identify those 5% willing to do anything for money is to see who is willing to pledge a fraternity/sorority. These students are not top of their class----they are generally seen as having connections Wall Street needs. There is a thousand years of history showing Wall Street and global corporations using this same recruitment of a nation's citizens to enrich at the expense of the 95% of citizens AND ANY WEALTH THEY ACCUMULATE THEN GETS STOLEN...........'American college fraternities are a way that the Illuminati recruit and entrap university students' Now that Wall Street is bringing in the global 2%----we hear that universities now corporations don't need the GREEK system.
College Fraternities Linked to Freemasonry
May 22, 2011
"Through hell week, hazing, and ridicule the candidate is broken down into acts of submission to his fraternity or her sorority. Lifetime loyalty is put in place by vows and oaths, some on penalty of death."
by Fritz Springmeier
American college fraternities are a way that the Illuminati recruit and entrap university students. College fraternities were modeled after satanic secret societies, mainly Freemasonry.
Controversy has surrounded American college fraternities. On one side are leaders like 33rd degree Freemason Norman Vincent Peale, a member of Phi Gamma Delta, who spoke highly about Greek Letter frats and believed they played a positive role in developing the character of young men.
Others, like Liz Seccurro, who was drugged and gang raped by dekes (fraternity brothers of DKE) in 1984 are strongly opposed. She tells her story in her book Crash Into Me.
Some states have banned college fraternities: South Carolina (in 1897), Arkansas (in 1901) and Mississippi (in 1912). Frats were popular for returning WW II vets, but unpopular during the Vietnam War era, when for instance, 127 Greek letter chapters ceased functioning in 1972.
Phi Beta Kappa, the first American Greek Letter college fraternity, during the 1830's Anti-masonic era, was shut down as a secret society and forced to become only an honorary society. It started in 1776 with a Latin motto meaning "Philosophy is the Guide of Life".
The Philosophical Society of PA had connections to its creation. The Philosophical Society (originally called the Junto) itself was an Illuminati creation designed to control education and thinking. It was headed by Benjamin Franklin, and included members such as Alexander Hamilton, James Madison, and the Marquis de Lafayette.
PS has always been closely connected to the Society of the Cincinnati, an organization I exposed in '91 as still actively used by the Illuminati. Phi Beta Kappa branched out to Yale with the chapter Alpha of Connecticut in 1780.
George W. Bush was president of the DKE when they had a scandal of branding pledges with cigarettes. It was other dekes who gang raped Seccuro at a fraternity house party. (Females beware...with high testosterone and mob psychology taking over, frat brothers are statistically more apt to rape than other male students. And yes, sexual abuse of women is integral to the Illuminati agenda.)
The Illuminati established a series of non-Greek fraternities in the elite ivy-league schools beginning in 1832 with the pre-eminent one the Order of Skull and Bones.
Later editions of my Bloodlines of the Illuminati exposed a spectrum of these powerful non-Greek Illuminati college fraternities. The best book specifically on the Order of Skull & Bones is Anthony Sutton's book America's Secret Establishment (1986.)
Working through the Sheffield Scientific School, they founded another Yale secret society called Berzelius in 1848 and the Order of Book & Snake in 1863. Book & Snake uses the winged-sun disk and a snake swallowing its tail, obvious occult imagery. Four of these five Yale Orders (Skull & Bones, Scroll & Key, Book & Snake, Berzelius) call their creepy temple buildings "tombs". The fifth, Wolf's Head calls theirs "a hall".
Freemasonry directly established Square & Compass as a college fraternity in 1917. It merged with Sigma Mu Sigma (est. 1921) in Aug. 1952. Some of Sigma Mu Sigma's chapters were then absorbed into Tau Kappa Epsilon (a.k.a. Knights of Classic Lore). Another masonic college fraternity is Acacia (from the Greek word akakia= everlasting). Acacia has been going strong since 1904. In 1933, Acacia dropped the prerequisite that members be Masons. American President William Taft (Yale graduate), and Ass. U.S. Attorney General Wendell Berge were both Acacia members. Many other economic, sports, psychology and political leaders have also been Acacia members. Freemason Frank S. Land, who founded the Order of DeMoley, which Bill Clinton was in, is my final example of an Acacia member.
Many groups I write about connect to college fraternities. Alpha Delta Gamma is based upon the spiritual exercises of Ignatius Loyola, the founder of the Jesuits, and has a Book of Rituals. The LDS Mormon church created Delta Phi Kappa, and later Sigma Gamma Chi (1967). The Odd Fellows (IOOF) created Theta Rho and the Daughters of Rebekah (1851) . Odd Fellow sororities function off campus too; the Daughters of Rebekah serves as the equivalent to Masonry's Eastern Star.
Through hell week, hazing, and ridicule the candidate is broken down into acts of submission to his fraternity or her sorority. Lifetime loyalty is put in place by vows and oaths, some on penalty of death.
It can override other allegiances. For instance Confederate troops would come safely through Federal lines during the Civil War to spend time with their Phi Kappa brothers. Sigma Chi members started a chapter in WW II in their Japanese concentration camp. For many it is a commitment to a lifetime brotherhood.
While these webs of fraternities may not openly and directly contact with occult secret societies, they encourage members to think in directions parallel with the more powerful secret societies.
Were one to track the minutia of members' activities and thinking, one would garner a picture that shows members contributing to the overall control of society. Yet, who would want to question their activities? These networks of fraternities are protected by oaths of silence, as well as most pretend to be harmless and function behind a facade of philanthropic activity.
If one wants to examine the whole fabric of the elite's control, one must take note of college fraternities. Millions of Americans have been members of college fraternities and sororities, and many go on to prominence.
We are seeing all over Asia where US citizens were encouraged to invest and open businesses that these several years of Obama have seen all that investment disappear. As this video shows, it was Wall Street behind all this fraud. Know where the two worst offenders to the Wall Street toxic mortgage fraud banks/investment firms went after the 2008 crash----BANK OF AMERICA AND MERRILL LYNCH? Their main business was in Asia-----these are the same institutions on our Baltimore Development Corporation.
So, Obama's scam in bringing foreign investors and businesses will end the same for those people----but in the meantime US citizens will watch as global corporations, global corporate factories, and these foreign corporations take all of our US and city economies.
WHY WOULD OVER 300 MILLION EDUCATED FIRST WORLD CITIZENS ALLOW THIS?
Please take time to view this video!
Video: Americans Lose Billions in Chinese Investment Frauds
abcnews.go.com|By ABC News
Those working hard against South African apartheid only to see Zuma and ANC partner with the same global Wall Street and global corporations are now watching Obama set other African nations up as they PRETEND to be installing FREE-MARKET INTERNATIONAL ECONOMIC ZONES in several African nations with the help of US black leaders. Well, if people don't learn and open themselves over and over and over to gaining wealth by partnering with the oppressor---we will see yet again these African citizens being used through this African banking system by both China and US.
Americans thinking none of that matters to US citizens need to look who the 5% to the 1% black citizens are-----they are being told they are going to be empire-builders if they support the policies of Clinton/Obama---
WE THE PEOPLE MUST STOP THESE IMPERIALIST EMPIRE-BUILDING POLICIES AS THEY ARE NOW BEING BROUGHT BACK TO OUR OWN US CITIES.
Moody's: South Africa's banking system outlook remains negative
Global Credit Research - 02 Sep 2013Limassol, September 02, 2013 --
The outlook for South Africa's banking system remains negative, says Moody's Investors Service in a new report published today. The outlook reflects (1) the sluggish operating environment, which will weaken asset quality and increase provisioning needs; (2) the banks' sizable holdings of sovereign securities, linking bank credit profiles to that of the government of South Africa (Baa1 negative); and (3) funding challenges due to reliance on short-term wholesale deposits. Moody's says that the banks' resilient core earnings-generating capacity and ample capital buffers partly offset these negative drivers.
The new report, entitled "Banking System Outlook: South Africa", is now available on www.moodys.com. Moody's subscribers can access this report via the link provided at the end of this press release.
Over the 12-18 month outlook period, in the context of sluggish economic growth Moody's expects that the poor prospects for exports and private consumption will limit banks' credit growth and new corporate business opportunities, and prompt a rise in non-performing loans (NPLs). Following a deceleration in GDP to 2% in Q2 2013, from 3.1% in Q2 2012, Moody's forecasts South Africa's real GDP to grow by around 2.2% in 2013 (2014: 3.2%), well below both the pre-crisis 2004-08 average of 4.9% and the 4%-7% rate the government views as necessary to fully utilise manufacturing capacity, reduce high unemployment and improve living standards.
NPLs stood at approximately 4% of gross loans as of June 2013, with a marked deterioration in unsecured retail loans. As property prices come under pressure, indicated by house price indices, weakening collateral values will heighten the need to increase provisioning. The negative outlook for the banking system also takes into account the fact that credit and asset-quality profiles of South African banks are closely linked to the sovereign's creditworthiness, as holdings of government securities and loans to state-owned entities account for more than 150% of banks' Tier 1 capital, on average. Therefore, any deterioration in South Africa's credit profile (Baa1 negative) would exert downward pressure on the credit profiles of the largest banks.
Although government-exchange controls contain rand liquidity within the system, Moody's expects that South African banks will continue to remain highly dependent on local short-term wholesale deposits, which creates large asset-liability mismatches, high funding costs and deposit concentrations. As a result, South African banks will not be able to meet the proposed net stable funding ratio (NSFR) under the Basel III liquidity framework, although implementation is not due until 2018. However, as they continue to build up their core liquidity, Moody's expects that the banks will be able to maintain solid liquidity profiles, which will ease some of the risks stemming from the asset-liability mismatches.
Moody's notes South African banks' resilient core earnings and ample capital levels that will limit to some extent the credit pressures noted above, providing an adequate absorption buffer for possible loan losses. Return on equity and return on assets for the system stood at 16.7% and 1.2% respectively in June 2013, while Tier 1 capital ratio was 11.8% with a common equity Tier 1 capital ratio of 11.2% as of June 2013. Although Moody's expects some modest pressure in banks' earnings over the outlook period, this is unlikely to compromise in any significant way their overall capital levels.
When a Ghana bank comes to Chicago to buy a black bank struggling to stay open-----then both of them will lose all those assets in this coming economic crash. Who is behind teaching and creating the models for these African banking structures? Wall Street and the same policies Wall Street uses has taken hold of these systems. Now, China did the same but know what? China has thousands of years tied to financial and banking structures in their own nations whereas Africans have only had local financial structures and they will be taken by both these global banking nations. Mugabe and Zuma see themselves as the 1% of Africa installing these International Economic Zones to enslave African citizens----but global Wall Street does not need anymore super-rich....
THE 1% WALL STREET ALREADY HAS ITS GLOBAL 2% AND WON'T BE ALLOWING ANYMORE WEALTH.
Of course Wall Street and OPEN BORDERS are trying to hook up African citizens to ANGEL/VENTURE CAPITALIST business startups that will take all time and investments from those global citizens.
I see plenty of Nigerian financial people here in Baltimore as they think they are actually going to gain market-share from existing global corporations and Wall Street in Baltimore.
'The Nigerian banking sector lost 66% of its capital, it's a miracle that it's still standing and lending at all', he said'.
Africa Confidential, May 2010
What's next for Nigeria's banks?
Exclusive interview with Mallam Lamido Aminu Sanusi, the Governor of the Central Bank of Nigeria
Print this special report
Nigeria's banks are emerging from a frenetic and nearly fatal systemic crisis following a a programme of sweeping reforms.
The man behind the rescue plan, Central Bank Governor Mallam Lamido Aminu Sanusi, has spoken openly to Africa Confidential about the risks and prospects for Nigeria's financial institutions as the after shocks from the 2008 financial seizure spread around the global economy. 'The Nigerian banking sector lost 66% of its capital, it's a miracle that it's still standing and lending at all', he said.
Last year, Sanusi ordered industry wide audits and then in August sacked the chief executives in six banks deemed to have been chronically mismanaged. Sanusi pledged that the Central Bank would shore up all the ailing financial institutions and files on several senior officials in commercial banks were then passed on to the state prosecutors. Two of the chief executives are still refusing to respond to charges against them, almost nine months after the orders were made.
Sanusi's list of bad debtors to the leading banks included some of the country's most prominent businessmen and politicians. His move shocked Nigeria's establishment but it convinced many outsiders that he was a serious reformer. The result sheet so far is positive: Sanusi has purged the banks with minimal collateral damage. No banks have gone under and no deposits have been lost, he told Africa Confidential. But what has this operation cost the government?
The bill may run into billions of dollars but it is still far less than many Western governments have spent propping up their own badly weakened financial sectors. The next part of the rescue plan – the establishment of the Asset Management Company – is currently going through the National Assembly. That will allow for a state-backed restructuring of the distressed banks. The end result should be that Nigeria has a stronger and more accountable banking system, one that is likely to attract substantial investment from Asian, European and American banks seeking a foothold in one of Africa's biggest markets.
'I think the economy needs a mix of foreign and local banks,' Sanusi told Africa Confidential. 'I don't think we should hand over all the banks to foreigners, it's not a practical proposition. But 25-30% of the industry being in the hands of foreigners would be a very good target.'
Below is the full transcript of Governor Sanusi's interview with Africa Confidential's Special Correspondent Oladipo Salimonu and Editor Patrick Smith.
AFRICA CONFIDENTIAL: The Asset Management Company is going to manage the distressed banks. Is that legislation going through the Senate at the moment?
Mallam Lamido Aminu Sanusi: It has been accepted for debate in the Senate. Once it goes through that process it means that it has Senate approval. There are two more tests: one is to harmonise the Senate version with the House version, I'm aware that there is a difference of four clauses. After the harmonised version has been made it will go to the President for a signature, which is really just a formality.
AC: When do you think the bill will become law and the money disbursed?
LAS: I believe that it will be law before the end of May.
AC: It's nine months since the tumultuous announcement last August, when you took over the the management of six banks. How do you assess the health of the sector at the moment? Are you implementing the reforms as fast as you would like?
LAS: I think it has moved faster than one would expect. At the end of the audit we came out with a report that showed that 10 out of 20 of the indigenously controlled banks had negative capital, the other four are foreign banks. We disclosed this information fully, we haven't had a run on an institution, no creditor has lost any money, shares are still being traded. The fact that we told the truth has increased the confidence of the international community in the system, because the major concern people had before we intervened was that everyone was saying that the Nigerian banks had not been affected by the crisis, and everybody knew this was a lie. What we have done is fully disclose the banks that were affected, ring fenced them and avoided a risk of contagion, as it had knocked confidence in the entire banking system. Now people know which banks are strong and which are weak.
We have improved and increased the level of disclosure in the accounts. Today, Diamond Bank is publishing its accounts. A year ago the bank would probably not have admitted that their profit was lower than the previous year. Now everybody understands that you can tell the market the truth that you had a bad year; we had an economic crisis and you have cleaned up your books. The market will understand that you have done the right thing and that going forward the fundamentals remain strong.
That is real progress, because the financial markets are built on confidence and trust. There are moral hazards, management always knows better than the investors, always know more than the regulator, so the more people are aware that there is a regulator forcing people to disclose losses honestly, the more confident investors are in the risk they are taking on the industry.
The AMC bill has made progress towards recapitalisation and we'll go through mergers and acquisition process and once that is done we can put this behind us and go back into growth mode. We've made it clear that there will be personal responsibility for actions which again were a major problem in the sector, and we are improving the general regulatory environment.
AC: Although the reform progress may have been impressive in the past nine months, the banks have become extremely risk averse, so lending to he private sector has gone down while lending to the public sector has gone up. Is that going to create a problem in the real economy?
Latino immigrants have had to deal with World Bank, IMF, and neo-liberal financial systems in their own nations so they are not fooled but the national and global Hispanic/Latino corporations building in the US should be aware they will be taken. Global pols create trade agreements that open markets in Brazil for example by allowing the 1% of Brazil open in the US. This is what these 1% foreign business owners investing in the US is their leverage---you damage our business we damage yours. THIS IS THE NEW FREE-MARKET IN THE US.....forget the 300 million US citizens wanting a small or regional business----this is global trading and America is simply another colonial market.
This is a dangerous game as we know Wall Street will take these foreign business assets as they do when the IMF comes into Latino nations and does just that. Here we have the grounds for more and more nations YELLING DEATH TO AMERICA because US imperialism will now be taking foreign investor's assets and wealth right here on US soil. This is what brings warfare right to America just as exists in developing nations.
THIS IS WHY ALL GLOBAL INTERNATIONAL ECONOMIC ZONE OVERSEAS HAS ITS OWN GLOBAL CORPORATE CAMPUS MILITARY AND SECURITY FORCES----EVERYONE TAKING EVERYONE ELSE TO THE CLEANERS.
Latinos and banking: Why they shy away, and why they shouldn't
by Leslie Berestein RojasSeptember 08 2011
Photo by CarbonNYC/Flickr (Creative Commons)
In a series of recent posts, we've looked at how immigrant families build wealth and pass it along, making the ascent from have-nots to haves via wise investments such as the purchase of homes, and building on family financial networks that draw in multiple generations.But it isn't easy. Retirement is an afterthought for many, especially Latinos, the group least likely to invest in a retirement account, even when provided access to one through work. And they are also one of the groups least likely to invest in that most basic entree to the American financial mainstream, a bank account.
Not doing so deprives of them of opportunities and, when they patronize check-cashing stores, payday lenders and other non-banking financial services, also of hard-earned cash.
First, the statistics: In the results of a 2009 survey, the Federal Deposit Insurance Corporation (FDIC) reported that an estimated 7.7 percent of U.S. households, approximately 9 million, were "unbanked," i.e. lacking checking or savings accounts. Certain minority groups were more likely to be unbanked, notably black Americans (21.7 percent of black households), Latinos (19.3 percent), and Native Americans/Alaskans (15.6 percent). Meanwhile, only 3.5 percent of Asian American households were estimated to be unbanked, and only 3.3 percent of white households.
Then there are the "underbanked," described in the FDIC survey as those who "have a checking or savings account but rely on alternative financial services."
Popular now on Multi-American
Street vendors ask law enforcement to ease up on citationsUnderbanked households tend to use "non-bank money orders, non-bank check-cashing services, payday loans, rent-to-own agreements, or pawn shops at least once or twice a year or refund anticipation loans at least once in the past five years." An estimated 31.6 percent of black American households were underbanked, followed by 28.9 percent of Native American/Alaskan households and 24 percent of Latino households.
Altogether, about 43.3 percent of Latino households were either unbanked or underbanked.
The reasons vary. For those working in the U.S. without legal status, it's tougher to access financial services, although several lending institutions have in recent years extended services to undocumented immigrants with consular identification cards and taxpayer identification numbers, used in place of a Social Security number. But the overarching reasons, including for many who live and work here legally, are a lack of readily available cash, real or imagined, compounded by a general sense of mistrust and lack of information about U.S. banking institutions.
A Pew Hispanic Center report that examined the financial habits of Latino remittance senders, typically first-generation immigrants, described it this way:
Many remittance senders take a skeptical view of banks and other financial institutions. These opinions are often based on impressions rather than firsthand knowledge because many remitters and their families do not have bank accounts or credit cards. Minimum balances and transaction fees are widely viewed as excessively burdensome and too expensive for the services rendered.
Evelyn, an immigrant from the Dominican Republic, explained how she paid bills:
“Because I don’t have a lot of bills, I just pay my light bills and things at the check-cashing store. Because I don’t want to have an account so that they can keep charging me high fees, for two or three checks a month. For that (more expensive things) I use a money order.”
Though some might say it's a wash considering checking account and ATM withdrawal fees, check-cashing store fees are fairly steep. Steeper still is the interest on money borrowed from payday loan shops, which have mushroomed in low-income black and Latino neighborhoods where people have limited access to credit. Earlier this year, an investigative piece in The Nation magazine explored these businesses' predatory lending strategies:
The payday lending business model is straightforward. A customer signs over a personal check and in return collects a small loan, usually less than $500 (state laws vary on the maximum allowed). The loan is due when a borrower’s next paycheck comes. As Advance America’s website assures customers, the process takes just ten or fifteen minutes. Lenders charge varying fees for the loans, but when calculated as an annual percentage rate, as mandated by federal law, they are often as high as 400 percent.
Unbanked and underbanked immigrants are especially prone to financial abuses and scams, among other things, and can benefit from even a modest account. From a piece on Latinos and banking on the Americas Society website last year:
This is a cause for concern not only for the Hispanic population, but for all Americans. Having a banking relationship produces many benefits that go beyond the possibility of writing a check or having access to ATM withdrawals. Studies have shown that it allows families to access other financial instruments, build credit history, and achieve financial security and long-term wealth. Moreover, specialists in immigration affirm that it is one of the key steps to achieving full integration into American society.To tackle the crisis of unbanked and underbanked Hispanics, there has to be a comprehensive approach that incorporates financial education as well as the development of financial products that respond to the needs and characteristics of the Hispanic population.
Several lending institutions have tried tapping into the Latino market with varying results. A recent University of Virginia study made several recommendations for banks and credit unions trying to reach out to Latinos, including the use of mobile banking, since Latinos lacking Internet access tend to connect to the web via smartphone.Other advantages to Latinos banking their earnings? Among other things, the University of Virginia report noted a lower rate of robberies targeting cash-carrying Latinos. From the report:
One year after the opening of a credit union focused on serving North Carolina’s growing Latino population, Charlotte police reported that armed robberies against area Latinos had dropped 22.6 percent. Similarly, two years after the opening of a branch in Durham of the same credit union, 163 fewer total robberies per year were reported.In areas where financial institutions cater to Latino customers, the incidence of robberies is dropping substantially in large part due to fewer Latinos engaging in cash-based transactions (and thus, being targets for robbery).
As with retirement planning, there is work to be done at the institutional level - and conversations to be had at the household level, where the bills hide in the manteca can.
What we are seeing is the 5% to the 1% Latino citizens earning some wealth being drawn into opening start-up banks in CA and FL. Again, global financial investment journalism has been shouting for several years that this coming economic crash is designed to take out most community banks and credit unions and will take out these immigrant/citizen-owned banks especially. Immigrants are the largest sector of employed people in the US so they have the most wealth Wall Street wants and we see below Wall Street moving in to tie all these smaller banks to themselves just as Wall Street does through our Baltimore Development Corporation tie all Baltimore citizens' tax base and retirements to the 1%.
Immigrant labor in the US has for decades cabled home the earnings they manage to keep----they should keep doing that!
'Citigroup Inc. of New York shouldered its way into the sector in 2001 by buying Banco Nacional de Mexico, or Banamex, which had a California subsidiary bank'.
How does this effect US citizens? If the immigrant workforce is the dominant earnings in the US they have the power of consumption in our communities. If they cannot keep their earnings who do we have to support our Baltimore local economies? The answer is global Wall Street doesn't want any local economies---no people with money---they are MOVING FORWARD with global corporate campuses and global factories to be that economy paying Americans $3 a day====the only people fueling our economy with consumption is now the global 2%.
Remember, these next few decades will see the battle of the 1% against the 5% ----this will be the economy just as these several years of Obama have had no economic growth---only moving more of WE THE PEOPLE'S assets and wealth to the 1%. They don't care right now if there is a global economy---its a battle of banking.
'China and India’s large consumer set constitutes only 16 percent of the region’s population',
Latino-Owned Banks Seek to Fill Void in L.A.Start-ups, including one backed by Oscar De La Hoya, say they will offer businesses the flexibility and familiarity that major institutions lack.
July 23, 2006|E. Scott Reckard | Times Staff Writer
Transforming himself from boxer to businessman, Oscar De La Hoya has promoted fights, invested in Spanish-language newspapers and even bought and sold the Madison Avenue building in Manhattan that houses Barneys New York. He and the deep-pocketed backers of his Golden Boy Enterprises are considering a tequila-bottling project as well.
But first, the son of Mexican immigrants plans to take another stride into the economic mainstream by opening a business bank for Latinos in Greater Los Angeles.
'Dozens of Asian American banks have sprung up in Southern California, and 14 Latino-owned banks serve Florida's large ethnic Cuban population. But for decades the Los Angeles area has had only one bank owned by local Latino investors'.
"It's mind-boggling that there is just one bank," said De La Hoya, who defeated Ricardo Mayorga in May to win the World Boxing Council super-welterweight title. "The fact is that there are over 80,000 Hispanic-owned businesses in Los Angeles. We feel it is a tremendous opportunity."
Others share the sentiment, including three groups that recently asked for the Federal Deposit Insurance Corp.'s blessing to open Latino-owned banks in the region -- Fortis Business Bank in Santa Ana, Americas United Bank in Glendale and Promerica Bank in downtown Los Angeles. Several other Latino banking ventures also are in the works, industry consultants say.
The flurry of start-ups underlines the fact that for generations, Latinos in Southern California have had few homegrown financial institutions. Industry analysts and Latino entrepreneurs cite several reasons, including the small size of many Latino businesses, their wide dispersal, and widespread distrust of banks by immigrants from Mexico and Central America.
Organizers of the Latino banks say that they intend to be more flexible than large banks in making loans, and that a shared culture will help them better understand customers. They say misunderstandings, rigid lending policies and plain intimidation at big banks have resulted at times in Latinos being denied credit unfairly. Some turned to higher-cost finance companies for loans because they seem friendlier and more personalized.
"The big banks do scare Latinos," said Carmen Saenz Murray, who owns a City of Commerce-based company that manufactures custom carpets, mostly for corporate offices. The attitude of the large banks "is almost degrading -- they're wearing their suits and you're almost intimidated about going in and asking for a loan or a line of credit."
Saenz Murray, whose mother was a Mexican citizen, said her sales slumped after the Sept. 11, 2001, attacks because corporations reined in spending. The American banks she dealt with, she said, weren't sympathetic to her plight.
Now, however, big U.S. banks are wooing Latino customers like never before. Bank of America Corp. offers free money transfers to Mexico for immigrants who open accounts. It also provides live music and free refreshments at its Fiesta Fridays in L.A.'s MacArthur Park, the center of a heavily Latino neighborhood.
The Charlotte, N.C.-based bank also has loosened some small-business lending rules, including a requirement that companies must have been in business for two years to get a loan.
"The dynamics of small business are changing rapidly," said Brad Dinsmore, Bank of America's consumer banking executive for the West. "It's not uncommon for a Latino to start a business, then sell it, then convert to doing something else -- all in the space of 18 months."
Wells Fargo & Co. of San Francisco has opened more than 750,000 accounts for Latin American immigrants over the last five years using identification cards issued by their countries' U.S. consulates. Branches in heavily Latino areas have been decorated in bright reds, yellows and earth tones to reflect the local culture, with murals of labor leader Cesar Chavez and other Latino heroes, bank spokeswoman Dolores L. Arredondo said.
There also is a smattering of banks and finance companies based in Latin America that target Spanish-speaking customers here. Puerto Rico's Banco Popular, for example, has 48 branches in Southern California. And BBVA Bancomer, a giant Mexican bank, is converting Bancomer money-transfer shops into bank branches after acquiring Valley Bank in Moreno Valley in 2004.
Citigroup Inc. of New York shouldered its way into the sector in 2001 by buying Banco Nacional de Mexico, or Banamex, which had a California subsidiary bank.
All that competition has made it tough for locally owned start-ups to get in the game. But cultural and economic factors also have held back the formation of Latino banks, bankers and consultants say.
Latinos, including small-business owners who are community banks' main customers, have long been dispersed throughout Southern California, making it hard for smaller institutions to reach them.
This article shows the only job growth in the US will be tied to installing US International Economic Zone structures in US cities and that work will be done primarily by immigrant labor. Meanwhile global US corporations are continuing to expand overseas using the Asian population that even as this article tries to say Asian middle-class is reaching US middle-class in numbers----first, the Asian middle-class are those earning $20-30 a day and second this stat is connected with US middle-class disappearing. As we saw in the other article the consumer-class in Asia and India represent only 16% of those nation's citizens.
MORE AND MORE AMERICANS WILL BE FORCED TO GO OVERSEAS TO FIND WORK AS THEY BUILD US INTERNATIONAL ECONOMIC ZONES MAKING OUR US CITIES JUST ONE WORLD COLONIAL ECONOMIC ZONES OPERATING AS THEY DO IN DEVELOPING NATIONS.
Immigrants coming to the US and Americans choosing, pushed to live and/or work overseas. They are trying as hard as possible with propaganda to sell the idea that Americans are likely and wanting to be ex-pats-----some might, most don't. You can believe that most immigrants caught in these global human capital distribution systems to overseas International Economic Zones and our Latino immigrants long-term in the US would rather be in their own nations and culture.
"All of the growth over the next 10 years is happening in Asia," says Homi Kharas, a senior fellow at the Brookings Institution and formerly the World Bank's chief economist for East Asia and the Pacific'.
AS MANY TIMES THEY SAY THIS MOVE OVERSEAS IS ABOUT ASIAN CITIZENS BEING BETTER EDUCATED---THAT IS A LIE----THEY GO BECAUSE ASIAN MIDDLE-CLASS EARNS $20-30 A DAY-----AND THEY ARE GOING TO BRING AMERICANS DOWN TO THIS LEVEL IN COMING FEW DECADES.
America Has More Trained STEM Graduates than STEM Job Openings
By David North May 2013
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David North is a CIS fellow who has studied the interaction of immigration and U.S. labor markets for more than 40 years. This Backgrounder is based, in part, on a blog on the same subject published earlier.
Many U.S. companies are hiring ... overseasOne reason why U.S. unemployment remains as high as it is
Heribert Proepper / AP
An engine technician works on a vessel engine at the Caterpillar company in Friedrichsort near Kiel, northern Germany.
By PALLAVI GOGOI
updated 12/28/2010 6:15:56 PM Corporate profits are up. Stock prices are up. So why isn't anyone hiring?
Actually, many American companies are — just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.
More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.
The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown.
But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist.
"There's a huge difference between what is good for American companies versus what is good for the American economy," says Scott.
American jobs have been moving overseas for more than two decades. In recent years, though, those jobs have become more sophisticated — think semiconductors and software, not toys and clothes.
And now many of the products being made overseas aren't coming back to the United States. Demand has grown dramatically this year in emerging markets like India, China and Brazil.
Meanwhile, consumer demand in the U.S. has been subdued. Despite a strong holiday shopping season, Americans are still spending 18 percent less than before the recession on furniture, and 10 percent less on electronics, according to MasterCard's SpendingPulse.
"Companies will go where there are fast-growing markets and big profits," says Jeffrey Sachs, globalization expert and economist at Columbia University. "What's changed is that companies today are getting top talent in emerging economies, and the U.S. has to really watch out."
With the future looking brighter overseas, companies are building there, too. Caterpillar, maker of the signature yellow bulldozers and tractors, has invested in three new plants in China in just the last two months to design and manufacture equipment. The decision is based on demand: Asia-Pacific sales soared 38 percent in the first nine months of the year, compared with 16 percent in the U.S. Caterpillar stock is up 64 percent this year.
"There is a shift in economic power that's going on and will continue. China just became the world's second-largest economy," says David Wyss, chief economist at Standard & Poor's, who notes that half of the revenue for companies in the S&P 500 in the last couple of years has come from outside the U.S.
Take the example of DuPont, which wowed the world in 1938 with nylon stockings. Known as one of the most innovative American companies of the 20th century, DuPont now sells less than a third of its products in the U.S. In the first nine months of this year, sales to the Asia-Pacific region grew 50 percent, triple the U.S. rate. Its stock is up 48 percent this year.
DuPont's work force reflects the shift in its growth: In a presentation on emerging markets, the company said its number of employees in the U.S. shrank by 9 percent between January 2005 and October 2009. In the same period, its work force grew 54 percent in the Asia-Pacific countries.
"We are a global player out to succeed in any geography where we participate in," says Thomas M. Connelly, chief innovation officer at DuPont. "We want our resources close to where our customers are, to tailor products to their needs."
While most of DuPont's research labs are still stateside, Connelly says he's impressed with the company's overseas talent. The company opened a large research facility in Hyderabad, India, in 2008.
A key factor behind this runaway international growth is the rise of the middle class in these emerging countries. By 2015, for the first time, the number of consumers in Asia's middle class will equal those in Europe and North America combined.
"All of the growth over the next 10 years is happening in Asia," says Homi Kharas, a senior fellow at the Brookings Institution and formerly the World Bank's chief economist for East Asia and the Pacific.
Coca-Cola CEO Muhtar Kent often points out that a billion consumers will enter the middle class during the coming decade, mostly in Africa, China and India. He is aggressively targeting those markets. Of Coke's 93,000 global employees, less than 13 percent were in the U.S. in 2009, down from 19 percent five years ago.
The company would not say how many new U.S. hires it has made in 2010. But its latest new investments are overseas, including $240 million for three bottling plants in Inner Mongolia as part of a three-year, $2 billion investment in China. The three plants will create 2,000 new jobs in the area. In September, Coca-Cola pledged $1 billion to the Philippines over five years.
The strategy isn't restricted to just the largest American companies. Entrepreneurs, whether in technology, retail or in manufacturing, today hire globally from the start.
Consider Vast.com, which powers the search engines of sites like Yahoo Travel and Aol Autos. The company was founded in 2005 with employees based in San Francisco and Serbia.