Watch Out College Students

IRS gives but just might take it away:

Apparently the IRS messed up that $800 bucks you get to keep or $13 a pay period might bite you next year. . .

From the article . . .
– A single college student with a part-time job making $10,000 would get a $400 boost in pay. However, if that student is claimed as a dependent on a parent’s tax return,

she doesn’t qualify for the credit and would have to repay it when she files next year.

OUCH . . .
Be Careful and get that Deduction right. . . Uncle Sam may get you in the end!
Tax Rebate in 09 could bite you in 2010 look out

Tax Rebate in 09 could bite you in 2010 look out


How much is 3.27 Trillion Dollars anyway?

How much debt is the CBO projecting for the US to incur as a result of the stimulus plan?

Yep that’s right 3.27 trillion dollars. . . .

Debt incurred as result of Stimulus
Debt incurred as result of Stimulus

Did you know you can stack a column of pennies 720,750 Kilometers with that many pennies.

You could also travel to the moon and back if you could walk on a penny road there. 🙂

And you could traverse the Earth 18 times on that same penny road it goes so far. . .

Gutenberg Project

Okay don’t miss these sites for great online books:

I know they are old but that is the wonder of it these are out of copyright and so are distributable free for any reason in the United States!

There are some great things available including

The Time Machine by HG Wells

Benjamin Franklin’s Autobiography

Aristotle’s Complete Works

and more!

Check it out

Kill Comment Spam Dead Use Akismet and WP-Hashcash

Do you use WordPress? If you do I find the best Comment spam defense is a good offense. Combine Akismet with a few other good Spam defenders and you could be free from that detestable comment spam!

I use WP-Hashcash

Try it! Best thing about it is it doesn’t bother real users and kills bots dead.

After all Akismet is good but some of those spammers just get by Akismet since it is still based on user feedback.

Of course that doesn’t last long usually.

Like I said best defense is a one two punch offense. . . .

Akismet + WP-Hash Cash = Dead Comment Spam

Voting for an African American

This election was the first that I remember voting for an African American. I have to admit I didn’t feel anything outside my normal even keel upon voting for him. It was a historic moment for our nation, state and county. I guess the way I’ve always viewed someone’s race is that it is a part of who someone is, it is an ingredient in their makeup and identity, but it doesn’t necessarily define them unless they want it too. That’s what I love about America. . . race isn’t defining unless that person defines themselves by it, unless others allow humiliation and racial prejudices to affect how we treat our fellow human beings on this planet.

So when I chose this man I looked at his character, background and most importantly his stand on the issues that were important to me. I was very happy to vote for him and mark his name on my ballot.

Congratulations William Todd Hughey the next 71st District Judge from Harrison County!

The Elect 71st District Judge from Harrison County
The Elect 71st District Judge from Harrison County

Who Called for GSE Reform? Senator John McCain

Alan Greenspan: May 19th, 2005

” As I testified before the Congress both this year and in 2004, the GSEs need a regulator with authority on par with that of banking regulators, with a free hand to set appropriate capital standards, and with a clear and credible process sanctioned by the Congress for placing a GSE in receivership, where the conditions under which debt holders take losses are made clear. However, if legislation takes only these actions and does not limit GSE portfolios, we run the risk of solidifying investors’ perceptions that the GSEs are instruments of the government and that their debt is equivalent to government debt. ”

Alan Greenspan Again Warns: Sept 2nd 2005:

” Today, the US financial system is highly dependent on the risk-managers at Fannie and Freddie to do everything right, rather than depending on a market-based system supported by the risk assessments and management capabilities of many market participants who have different views and different strategies for hedging risk. The concentration of mortgage-backed securities at Fannie and Freddie are well beyond what market forces would normally allow because there are no meaningful limits to the expansions of the GSE’s portfolios, . . . ”

George W. Bush’s Secretary of the Treasury Paul Snow: January 2, 2005{852359E2-8F4A-4C69-8F2F-7DE699044B08}&print=1&siteid=mktw

“. . .and government-sponsored enterprises Fannie Mae must come under a tougher regulator.”

Fannie’s own CEO should have known according to a July 2003 Audit:

“On July 9, 2003, another warning came in a report by Fannie Mae’s internal audit unit, the distribution list for which included Raines, Mudd and other managers.

The document said inconsistencies among various accounting systems at the company required that they be periodically “realigned,” resulting in “adjustments” of as much as $45 million, and that certain assets were being misclassified, leading to a $155 million mistake.

“Controls need strengthening,” the document said. It concluded that management “demonstrated a good level of awareness about control issues and has initiated timely actions to resolve these issues.”

Three weeks after the internal report, Raines held a news conference to address fallout from Freddie Mac’s accounting scandal and gave assurances that Fannie Mae had invested in its systems. “We have centralized our accounting, so we don’t have to go all over the company to find out what the facts are,” Raines said, according to a transcript.”

Senator Obama’s campaign had some conversations via the telephone according to the Washington Post:

“In the four years since he stepped down as Fannie Mae’s chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case’s D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters. ”

Who called for Reform of GSE’s Fannie and Freddie?

Senator John McCain:

“Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.”