gchandu
04-12 10:12 AM
Hi
I e-filed my EAD and AP at Texas Service centre...did not get any FP notices and both EAD and AP got approved...
Don't know the logic / rule on when will they issue FP notices and for which category / state of people....
Thanks
Chandu
Hi I am planning for self filing EAD. I want to do e-file, but I heard that that if you are e-filing you need to go for finger printing. At the same time I also heard that no matter whether you go for e-filing or sending application to USCIS, if your finger printing is expired than you may need to go for the finger printing. Please suggest the best way to file for the EAD(I-765 form).
Als one more thing "Which USCIS Office?" section which date I need to put there.
I e-filed my EAD and AP at Texas Service centre...did not get any FP notices and both EAD and AP got approved...
Don't know the logic / rule on when will they issue FP notices and for which category / state of people....
Thanks
Chandu
Hi I am planning for self filing EAD. I want to do e-file, but I heard that that if you are e-filing you need to go for finger printing. At the same time I also heard that no matter whether you go for e-filing or sending application to USCIS, if your finger printing is expired than you may need to go for the finger printing. Please suggest the best way to file for the EAD(I-765 form).
Als one more thing "Which USCIS Office?" section which date I need to put there.
wallpaper Gift cool funny caricatures
ganugapati
06-18 02:21 PM
My current visa status is I-140 approved, I-485 pending, EAD and AP approved.
I was unemployed for the past 1 year and am thinking of applying for unemployment benefits. Will this cause any problem in my I-485 application like the employment agency informing the USCIS. Is there a way that the USCIS will find that I am currently unemployed because of applying for benefits and reject my GC.
I was unemployed for the past 1 year and am thinking of applying for unemployment benefits. Will this cause any problem in my I-485 application like the employment agency informing the USCIS. Is there a way that the USCIS will find that I am currently unemployed because of applying for benefits and reject my GC.
rajuram
01-15 01:47 AM
I think more members will join and people will be willing to contribute more if they see positive things happening. Right now we seem to be going no where. Even if a basic thing like filing for 485 during retrogression gets passed, people will gain confidence in IV and they will be willing to contribute money.
2011 Title: Cartoon Faces
mhathi
02-03 05:10 PM
Tomplate,
My lawyer had also asked me to keep 485 receipt and EAD with me, but I was not asked to show anything but my passport and the AP documents. They did not even ask for 485 receipts.
Unfortunately I know this does not answer your question fully, but hope it helps even if a bit!
My lawyer had also asked me to keep 485 receipt and EAD with me, but I was not asked to show anything but my passport and the AP documents. They did not even ask for 485 receipts.
Unfortunately I know this does not answer your question fully, but hope it helps even if a bit!
more...
stueym
07-08 04:21 PM
Wonderful support. Thank you. So far we have over 850 viewings and have been rated 76 times and 23 comments. That has managed to push us to #6 in the News and Politics stories of the day. This morning we overtook a Ron Paul story. If you have not had a chance to check the video out, please rate it by clicking on the stars or leave a comment as that will push our position even further.
Thank you once again. My son is beginning to get quite optimistic that CNN might just pick this one :-)
Thank you once again. My son is beginning to get quite optimistic that CNN might just pick this one :-)
lazycis
12-11 09:19 AM
6 months according to the USCIS website
more...
vnsriv
10-08 02:14 PM
i think you didn't get me,here is my question , if a person got married after applying i-485 and not able include his wife due to PD current date issue before his GC got approved, is there any way to get out from this situation , please let me know you one
Your sentences are confusing. Please no offense.
You can file your wife's I-485(derivative adjustment) once the PD is current. So just relax and keep on looking Visa Bulletin every month to check if the priority dates are current.
My case : got GC on June. Filed wife's case in June and she has an EAD.
All the best.
Your sentences are confusing. Please no offense.
You can file your wife's I-485(derivative adjustment) once the PD is current. So just relax and keep on looking Visa Bulletin every month to check if the priority dates are current.
My case : got GC on June. Filed wife's case in June and she has an EAD.
All the best.
2010 funny cartoon character
ksurjan
10-05 01:30 PM
Folks,
Who receives the AP approval? lawyer or the beneficiary?
Who receives the AP approval? lawyer or the beneficiary?
more...
skdskd
08-31 01:15 PM
Vote Yes
http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/
http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/
hair funny cartoon faces. funny
seeking_GC
07-28 07:33 PM
This is the content of the email I received.
Receipt Number: WACXXXXXXXXXXX
Application Type: I140 , IMMIGRANT PETITION FOR ALIEN WORKER
Current Status: Case Transfered to Another Office for Processing
On July 28, 2009, we transferred this case I140 IMMIGRANT PETITION FOR ALIEN WORKER to our LINCOLN, NE location for processing and sent you a notice explaining this action. Please follow the instructions provided on the notice. We will notify you by mail when a decision is made. If you move while this case is pending, call customer service at 1-800-375-5283 to update your address. You can use our processing dates to estimate when your case may be processed by following the link below. You can also receive automatic e-mail updates as we process your case by registering in the link below.
If you have questions or concerns about your application or the case status results listed above, or if you have not received a decision from USCIS within the current processing time listed*, please contact USCIS Customer Service at (800) 375-5283.
*Current processing times can be found on the USCIS website at USCIS Home Page (http://www.uscis.gov) under Case Status and Processing Dates.
*** Please do not respond to this e-mail message.
=========================
DSLStart can you please post the contents of the email you received?
Receipt Number: WACXXXXXXXXXXX
Application Type: I140 , IMMIGRANT PETITION FOR ALIEN WORKER
Current Status: Case Transfered to Another Office for Processing
On July 28, 2009, we transferred this case I140 IMMIGRANT PETITION FOR ALIEN WORKER to our LINCOLN, NE location for processing and sent you a notice explaining this action. Please follow the instructions provided on the notice. We will notify you by mail when a decision is made. If you move while this case is pending, call customer service at 1-800-375-5283 to update your address. You can use our processing dates to estimate when your case may be processed by following the link below. You can also receive automatic e-mail updates as we process your case by registering in the link below.
If you have questions or concerns about your application or the case status results listed above, or if you have not received a decision from USCIS within the current processing time listed*, please contact USCIS Customer Service at (800) 375-5283.
*Current processing times can be found on the USCIS website at USCIS Home Page (http://www.uscis.gov) under Case Status and Processing Dates.
*** Please do not respond to this e-mail message.
=========================
DSLStart can you please post the contents of the email you received?
more...
snathan
04-15 10:39 AM
Hi All,
There are lots of people on the Face book who are getting affected by 221G for H1B/H14. Target those people individually and convince them to join us. Contact the members individually. Every member should convince at least 10 new members...we cannot afford to lose this. We will arrange for conf. call in the coming days…
There are lots of people on the Face book who are getting affected by 221G for H1B/H14. Target those people individually and convince them to join us. Contact the members individually. Every member should convince at least 10 new members...we cannot afford to lose this. We will arrange for conf. call in the coming days…
hot We create cartoon faces,
reddog
07-08 01:25 PM
Though it is not of my concern - I see that you want to file a divorce with your current spouse and then remarry another person - while I don't know your personal specific situation - I would suggest that you must try and work it out with your current spouse
I see a lot of divorce cases these days among the immigrant community and when we look into it further - many cases divorces could have been avoided if spouses were more accomodating.
Once again - I have written this with a good intent. Please do niot shoot me down. Admins can delete my post if needed.
wb, agony aunt
and stop watching those Karan Johar movies.
I see a lot of divorce cases these days among the immigrant community and when we look into it further - many cases divorces could have been avoided if spouses were more accomodating.
Once again - I have written this with a good intent. Please do niot shoot me down. Admins can delete my post if needed.
wb, agony aunt
and stop watching those Karan Johar movies.
more...
house funny cartoon faces. portrait
gxtrader
08-17 02:27 PM
HOW your answer relates to my question?
Think, deside and do and don't think again! But Review it.
..Maybe he thought he heard you say..
"Don't think, decide and do and don't think again! And don't review it. :)
Don't worry too much..worst case is to re-file ead & ap w/ newer fees.
He'll eventually get GC & will be driving a Lexas in Dallus, Texus ;).
Think, deside and do and don't think again! But Review it.
..Maybe he thought he heard you say..
"Don't think, decide and do and don't think again! And don't review it. :)
Don't worry too much..worst case is to re-file ead & ap w/ newer fees.
He'll eventually get GC & will be driving a Lexas in Dallus, Texus ;).
tattoo stock vector : funny cartoon
Apollon
06-29 06:53 PM
I've heard 2 contradicting opinions on this matter, so trying to get to the truth.
My PERM case is about to be filed, let's assume for argument sake the job description
requires Bachelors degree + 5 years of experience.
I have B. Sc. degree, the requirements completed in April 2004.
I've been with the current sponsor, who is applying for my PERM labor case for 15 months,
and without those 15 months I don't have 5 years post graduation experience, required to qualify for EB2 track ( I do have close to 10 years of experience in the field, since I worked during college and even before that, but I was told only post graduation experience counts)
If counting these 15 months with my current H1 sponsor I do have over 5 years of post graduation experience.
Two opinions I've heard:
1. You can only use the current sponsor experience, if the position, you're getting the PERM certification for is at least 50% different in it's job duties from the experience, prior to joining this sponsor.
2. There is no restriction - current sponsor experience counts for EB2 post grad. 5 years.
I'm not interested in opinions or speculations please - only what the law says. If anyone has that information - response is greatly appreciated - my PERM case is about to be filed and I don't my application to get rejected down the road because of not satisfying the EB2 track requirements.
My PERM case is about to be filed, let's assume for argument sake the job description
requires Bachelors degree + 5 years of experience.
I have B. Sc. degree, the requirements completed in April 2004.
I've been with the current sponsor, who is applying for my PERM labor case for 15 months,
and without those 15 months I don't have 5 years post graduation experience, required to qualify for EB2 track ( I do have close to 10 years of experience in the field, since I worked during college and even before that, but I was told only post graduation experience counts)
If counting these 15 months with my current H1 sponsor I do have over 5 years of post graduation experience.
Two opinions I've heard:
1. You can only use the current sponsor experience, if the position, you're getting the PERM certification for is at least 50% different in it's job duties from the experience, prior to joining this sponsor.
2. There is no restriction - current sponsor experience counts for EB2 post grad. 5 years.
I'm not interested in opinions or speculations please - only what the law says. If anyone has that information - response is greatly appreciated - my PERM case is about to be filed and I don't my application to get rejected down the road because of not satisfying the EB2 track requirements.
more...
pictures Funny faces cartoon
krishnam70
04-06 04:44 PM
Really? Nobody? Nothing? :( Please, any advice will do, I'm desperate, I don't want to leave in 2 weeks, I need some more time with my partner...
This is a unique situation and may be an immigration attorney will guide you better. You should try to follow the law where ever possible. It could have been much easier had you gone out when your visa expired and returned back on another visa. Anyway try to speak with an attorney and get a good advise on how to remedy this situation
- cheers
kris
This is a unique situation and may be an immigration attorney will guide you better. You should try to follow the law where ever possible. It could have been much easier had you gone out when your visa expired and returned back on another visa. Anyway try to speak with an attorney and get a good advise on how to remedy this situation
- cheers
kris
dresses Funny Face cartoon 4 - search
shahuja
02-04 05:07 PM
imneedy..mine is renewal..they have my pp..ND consulate..and today is 23rd calendar day..
more...
makeup fun part of a cartoon face
pd052009
04-15 03:58 PM
I am in.
What do I need to do apart from contributions and convincing other friends to vote on the above thread?
After voting on the thread, could you
- Email ivcoordinator@gmail.com with PD, ph#,email & subject "I485 filing impacted�
-- This info will help to organize the next activity.
- Read this link. This has helpful details to reach out the fellow impacted members. http://immigrationvoice.org/forum/forum70-self-filing-documents-forms-directions-mailing/1845295-support-thread-for-i485-filing-w-o-curr-pd-initiative.html#post2243885
Happy to know that your friends are joining to get our relief.
What do I need to do apart from contributions and convincing other friends to vote on the above thread?
After voting on the thread, could you
- Email ivcoordinator@gmail.com with PD, ph#,email & subject "I485 filing impacted�
-- This info will help to organize the next activity.
- Read this link. This has helpful details to reach out the fellow impacted members. http://immigrationvoice.org/forum/forum70-self-filing-documents-forms-directions-mailing/1845295-support-thread-for-i485-filing-w-o-curr-pd-initiative.html#post2243885
Happy to know that your friends are joining to get our relief.
girlfriend Zielona Góra, Poland. Grzegorz
felix31
02-12 05:41 PM
both H1 and H4 extension are filed together regularly.
However, the need now arises to upgrade both to premium processing.
Attorney claims I can only get H1 under premium and if processing center wants they will process H4 under premium as well.
But I cannot find this memo that speaks of premium processing being available for I-539 applications as well. It happened sometime last year.
Anyway, thanks for all replies. I'll keep digging....
However, the need now arises to upgrade both to premium processing.
Attorney claims I can only get H1 under premium and if processing center wants they will process H4 under premium as well.
But I cannot find this memo that speaks of premium processing being available for I-539 applications as well. It happened sometime last year.
Anyway, thanks for all replies. I'll keep digging....
hairstyles stock vector : Cartoon face
freddy22
07-20 09:34 AM
The Board of Immigration Appeals has ruled, in a unanimous, en banc decision, that an adjudication of youthful offender status under New York law does not constitute a judgment of conviction for a crime under the Immigration and Nationality Act. The BIA also held that the respondent's subsequent resentencing following a probation violation did not convert the youthful offender violation into a judgment of conviction. The ruling confirms that the enactment of a statutory definition of "conviction" (INA � 101(a)(48)(A)) as part of the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA) did not affect longstanding BIA precedent holding that juvenile delinquency offenses do not constitute convictions under the INA.
alkg
08-13 08:41 PM
see the paragraph in bold letters.................
Greenspan Sees Bottom
In Housing, Criticizes Bailout
August 14, 2008
WASHINGTON -- Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad."
In a conversation this week, the former Federal Reserve chairman also said he expects that U.S. house prices, a key factor in the outlook for the economy and financial markets, will begin to stabilize in the first half of next year.
"Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview. Tracing a jagged curve with his finger on a tabletop to underscore the difficulty in pinpointing the precise trough, he cautioned that even at a bottom, "prices could continue to drift lower through 2009 and beyond."
A long-time student of housing markets, Mr. Greenspan now works out of a well-windowed, oval-shaped office that is evidence of his fascination with the housing market. His desk, couch, coffee table and conference table are strewn with print-outs of spreadsheets and multicolored charts of housing starts, foreclosures and population trends siphoned from government and trade association sources.
An end to the decline in house prices, he explained, matters not only to American homeowners but is "a necessary condition for an end to the current global financial crisis" he said.
"Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's mortgage-backed securities. We won't really know the market value of the asset side of the banking system's balance sheet -- and hence banks' capital -- until then."
At 82 years old, Mr. Greenspan remains sharp and his fascination with the workings of the economy undiminished. But his star no longer shines as brightly as it did when he retired from the Fed in January 2006.
Mr. Greenspan has been criticized for contributing to today's woes by keeping interest rates too low too long and by regulating too lightly. He has been aggressively defending his record -- in interviews, in op-ed pieces and in a new chapter in his recent book, included in the paperback version to be published next month. Mr. Greenspan attributes the rise in house prices to a historically unusual period in which world markets pushed interest rates down and even sophisticated investors misjudged the risks they were taking.
His views remain widely watched, however. Mr. Greenspan's housing forecast rests on two pillars of data. One is the supply of vacant, single-family homes for sale, both newly completed homes and existing homes owned by investors and lenders. He sees that "excess supply" -- roughly 800,000 units above normal -- diminishing soon. The other is a comparison of the current price of houses -- he prefers the quarterly S&P Case Shiller National Home Price Index because it includes both urban and rural areas -- with the government's estimate of what it costs to rent a single-family house. As other economists do, Mr. Greenspan essentially seeks to gauge when it is rational to own a house and when it is rational to sell the house, invest the money elsewhere and rent an identical house next door.
"It's the imbalance of supply and demand which causes prices to go down, but it's ultimately the valuation process of the use of the commodity...which tells you where the bottom is," Mr. Greenspan said, recalling his days trading copper a half century ago. "For example, the grain markets can have a huge excess of corn or wheat, but the price never goes to zero. It'll stabilize at some level of prices where people are willing to hold the excess inventory. We have little history, but the same thing is surely true in housing as well. We will get to the point where there will be willing holders of vacant single-family dwellings, and that will no longer act to depress the price level."
The collapse in home prices, of course, is a major threat to the stability of Fannie and Freddie. At the Fed, Mr. Greenspan warned for years that the two mortgage giants' business model threatened the nation's financial stability. He acknowledges that a government backstop for the shareholder-owned, government-sponsored enterprises, or GSEs, was unavoidable. Not only are they crucial to the ailing mortgage market now, but the Fed-financed takeover of investment bank Bear Stearns Cos. also made government backing of Fannie and Freddie debt "inevitable," he said. "There's no credible argument for bailing out Bear Stearns and not the GSEs."
His quarrel is with the approach the Bush administration sold to Congress. "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted -- with necessary taxpayer support to make them financially viable -- as five or 10 individual privately held units," which the government would eventually auction off to private investors, he said.
Instead, Congress granted Treasury Secretary Henry Paulson temporary authority to use an unlimited amount of taxpayer money to lend to or invest in the companies. In response to the Greenspan critique, Mr. Paulson's spokeswoman, Michele Davis, said, "This legislation accomplished two important goals -- providing confidence in the immediate term as these institutions play a critical role in weathering the housing correction, and putting in place a new regulator with all the authorities necessary to address systemic risk posed by the GSEs."
But a similar critique has been raised by several other prominent observers. "If they are too big to fail, make them smaller," former Nixon Treasury Secretary George Shultz said. Some say the Paulson approach, even if the government never spends a nickel, entrenches current management and offers shareholders the upside if the government's reassurance allows the companies to weather the current storm. The Treasury hasn't said what conditions it would impose if it offers Fannie and Freddie taxpayer money.
Fear that financial markets would react poorly if the U.S. government nationalized the companies and assumed their approximately $5 trillion debt is unfounded, Mr. Greenspan said. "The law that stipulates that GSEs are not backed by the full faith and credit of the U.S. government is disbelieved. The market believes the government guarantee is there. Foreigners believe the guarantee is there. The only fiscal change is for someone to change the bookkeeping."
In the past, to be sure, Mr. Greenspan's crystal ball has been cloudy. He didn't foresee the sharp national decline in home prices. Recently released transcripts of Fed meetings do record him warning in November 2002: "It's hard to escape the conclusion that at some point our extraordinary housing boom...cannot continue indefinitely into the future."
Publicly, he was more reassuring. "While local economies may experience significant speculative price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity," he said in October 2004. Eight months later, he said if home prices did decline, that "likely would not have substantial macroeconomic implications." And in a speech in October 2006, nine months after leaving the Fed, he told an audience that, though housing prices were likely to be lower than the year before, "I think the worst of this may well be over." Housing prices, by his preferred gauge, have fallen nearly 19% since then. He says he was referring not to prices but to the downward drag on economic growth from weakening housing construction.
Mr. Greenspan urges the government to avoid tax or other policies that increase the construction of new homes because that would delay the much-desired day when home prices find a bottom.
He did offer one suggestion: "The most effective initiative, though politically difficult, would be a major expansion in quotas for skilled immigrants," he said. The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
He estimates the number of new households in the U.S. currently is increasing at an annual rate of about 800,000, of whom about one third are immigrants. "Perhaps 150,000 of those are loosely classified as skilled," he said. "A double or tripling of this number would markedly accelerate the absorption of unsold housing inventory for sale -- and hence help stabilize prices."
http://online.wsj.com/article/SB121865515167837815.html?mod=hpp_us_whats_news
Greenspan Sees Bottom
In Housing, Criticizes Bailout
August 14, 2008
WASHINGTON -- Alan Greenspan usually surrounds his opinions with caveats and convoluted clauses. But ask his view of the government's response to problems confronting mortgage giants Fannie Mae and Freddie Mac, and he offers one word: "Bad."
In a conversation this week, the former Federal Reserve chairman also said he expects that U.S. house prices, a key factor in the outlook for the economy and financial markets, will begin to stabilize in the first half of next year.
"Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview. Tracing a jagged curve with his finger on a tabletop to underscore the difficulty in pinpointing the precise trough, he cautioned that even at a bottom, "prices could continue to drift lower through 2009 and beyond."
A long-time student of housing markets, Mr. Greenspan now works out of a well-windowed, oval-shaped office that is evidence of his fascination with the housing market. His desk, couch, coffee table and conference table are strewn with print-outs of spreadsheets and multicolored charts of housing starts, foreclosures and population trends siphoned from government and trade association sources.
An end to the decline in house prices, he explained, matters not only to American homeowners but is "a necessary condition for an end to the current global financial crisis" he said.
"Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's mortgage-backed securities. We won't really know the market value of the asset side of the banking system's balance sheet -- and hence banks' capital -- until then."
At 82 years old, Mr. Greenspan remains sharp and his fascination with the workings of the economy undiminished. But his star no longer shines as brightly as it did when he retired from the Fed in January 2006.
Mr. Greenspan has been criticized for contributing to today's woes by keeping interest rates too low too long and by regulating too lightly. He has been aggressively defending his record -- in interviews, in op-ed pieces and in a new chapter in his recent book, included in the paperback version to be published next month. Mr. Greenspan attributes the rise in house prices to a historically unusual period in which world markets pushed interest rates down and even sophisticated investors misjudged the risks they were taking.
His views remain widely watched, however. Mr. Greenspan's housing forecast rests on two pillars of data. One is the supply of vacant, single-family homes for sale, both newly completed homes and existing homes owned by investors and lenders. He sees that "excess supply" -- roughly 800,000 units above normal -- diminishing soon. The other is a comparison of the current price of houses -- he prefers the quarterly S&P Case Shiller National Home Price Index because it includes both urban and rural areas -- with the government's estimate of what it costs to rent a single-family house. As other economists do, Mr. Greenspan essentially seeks to gauge when it is rational to own a house and when it is rational to sell the house, invest the money elsewhere and rent an identical house next door.
"It's the imbalance of supply and demand which causes prices to go down, but it's ultimately the valuation process of the use of the commodity...which tells you where the bottom is," Mr. Greenspan said, recalling his days trading copper a half century ago. "For example, the grain markets can have a huge excess of corn or wheat, but the price never goes to zero. It'll stabilize at some level of prices where people are willing to hold the excess inventory. We have little history, but the same thing is surely true in housing as well. We will get to the point where there will be willing holders of vacant single-family dwellings, and that will no longer act to depress the price level."
The collapse in home prices, of course, is a major threat to the stability of Fannie and Freddie. At the Fed, Mr. Greenspan warned for years that the two mortgage giants' business model threatened the nation's financial stability. He acknowledges that a government backstop for the shareholder-owned, government-sponsored enterprises, or GSEs, was unavoidable. Not only are they crucial to the ailing mortgage market now, but the Fed-financed takeover of investment bank Bear Stearns Cos. also made government backing of Fannie and Freddie debt "inevitable," he said. "There's no credible argument for bailing out Bear Stearns and not the GSEs."
His quarrel is with the approach the Bush administration sold to Congress. "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted -- with necessary taxpayer support to make them financially viable -- as five or 10 individual privately held units," which the government would eventually auction off to private investors, he said.
Instead, Congress granted Treasury Secretary Henry Paulson temporary authority to use an unlimited amount of taxpayer money to lend to or invest in the companies. In response to the Greenspan critique, Mr. Paulson's spokeswoman, Michele Davis, said, "This legislation accomplished two important goals -- providing confidence in the immediate term as these institutions play a critical role in weathering the housing correction, and putting in place a new regulator with all the authorities necessary to address systemic risk posed by the GSEs."
But a similar critique has been raised by several other prominent observers. "If they are too big to fail, make them smaller," former Nixon Treasury Secretary George Shultz said. Some say the Paulson approach, even if the government never spends a nickel, entrenches current management and offers shareholders the upside if the government's reassurance allows the companies to weather the current storm. The Treasury hasn't said what conditions it would impose if it offers Fannie and Freddie taxpayer money.
Fear that financial markets would react poorly if the U.S. government nationalized the companies and assumed their approximately $5 trillion debt is unfounded, Mr. Greenspan said. "The law that stipulates that GSEs are not backed by the full faith and credit of the U.S. government is disbelieved. The market believes the government guarantee is there. Foreigners believe the guarantee is there. The only fiscal change is for someone to change the bookkeeping."
In the past, to be sure, Mr. Greenspan's crystal ball has been cloudy. He didn't foresee the sharp national decline in home prices. Recently released transcripts of Fed meetings do record him warning in November 2002: "It's hard to escape the conclusion that at some point our extraordinary housing boom...cannot continue indefinitely into the future."
Publicly, he was more reassuring. "While local economies may experience significant speculative price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity," he said in October 2004. Eight months later, he said if home prices did decline, that "likely would not have substantial macroeconomic implications." And in a speech in October 2006, nine months after leaving the Fed, he told an audience that, though housing prices were likely to be lower than the year before, "I think the worst of this may well be over." Housing prices, by his preferred gauge, have fallen nearly 19% since then. He says he was referring not to prices but to the downward drag on economic growth from weakening housing construction.
Mr. Greenspan urges the government to avoid tax or other policies that increase the construction of new homes because that would delay the much-desired day when home prices find a bottom.
He did offer one suggestion: "The most effective initiative, though politically difficult, would be a major expansion in quotas for skilled immigrants," he said. The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
He estimates the number of new households in the U.S. currently is increasing at an annual rate of about 800,000, of whom about one third are immigrants. "Perhaps 150,000 of those are loosely classified as skilled," he said. "A double or tripling of this number would markedly accelerate the absorption of unsold housing inventory for sale -- and hence help stabilize prices."
http://online.wsj.com/article/SB121865515167837815.html?mod=hpp_us_whats_news
insbaby
07-17 11:01 AM
I recieved reply from consulate stating that I need to get PCC from US consulate as I have not being living in India for a long time therefore there is no use of getting PCC from local police station. Now anybody let me know if I fly to SFO they would give my PCC with in a day or would take time ??/
If you are holdng a Passport issued by other than SF Consulate:
* If applying at the counter in-person, 30 business days or on receipt of clearance from Passport Issuing Authority concerned, whichever is earlier
*If applying by mail, 30 business days, excluding time taken in mail, or on receipt of clearance from Passport Issuing Authority concerned, whichever is earlier.
As it takes around 30 business days to issue PCC, you must submit photocopy of passport at the time of applying. As soon as the clearance is received from the Passport Issuing Authority concerned, you will be called (provided you have mentioned your telephone number in the application) to submit your original passport for stamping of PCC.
If you are holdng a Passport issued by SF Consulate:
Applying in person: Same day or latest by the next working day
Applying by mail: 10 (ten) business days excluding the time taken in mail
http://cgisf.org/misc/miscservices.html
If you are holdng a Passport issued by other than SF Consulate:
* If applying at the counter in-person, 30 business days or on receipt of clearance from Passport Issuing Authority concerned, whichever is earlier
*If applying by mail, 30 business days, excluding time taken in mail, or on receipt of clearance from Passport Issuing Authority concerned, whichever is earlier.
As it takes around 30 business days to issue PCC, you must submit photocopy of passport at the time of applying. As soon as the clearance is received from the Passport Issuing Authority concerned, you will be called (provided you have mentioned your telephone number in the application) to submit your original passport for stamping of PCC.
If you are holdng a Passport issued by SF Consulate:
Applying in person: Same day or latest by the next working day
Applying by mail: 10 (ten) business days excluding the time taken in mail
http://cgisf.org/misc/miscservices.html
