Which Bank????
Don’t you think the name of the bank might be relevant to this story? Don’t you think it might alert other bank customers to check their statements carefully? Why on earth would the name of the bank be concealed if it is stealing from its customers?
Bank accused of embezzling customer funds
Web posted at: 3/15/2010 5:58:51
Source ::: THE PENINSULA DOHA:
In a rare and unprecedented incident, a local bank faces accusations of embezzling customer funds and committing financial irregularities in managing the accounts of some of its customers. Noting that there were some deductions in their accounts without being notified and without such deductions being valid in the first place, the affected customers reported the violations to the bank which could not convince them of the nature of the deductions or the transactions shown in their accounts. The case was reported to the judicial authorities and was ordered to be investigated via the public prosecution. After investigations the public prosecution decided to file charges against the bank. The case was referred to the court of first instance.
Rapist Given Reduced Sentence
This is from the Gulf Times Court RoundUp
Life sentence commuted
A Doha appeals court has commuted to five-year imprisonment the life sentence given to a local teenager, who was convicted of raping a Sri Lankan housemaid.
Two Sri Lankan men in their late 20s were sentenced in absentia by a Doha court of first instance to 15 years imprisonment for helping the accused to perpetrate the crime.
The court heard that the two Sri Lankan accomplices who worked in a car washing facility told the main accused about the woman.
The rape took place soon after midnight on August 14, 2007.
According to the chargesheet, the main accused impersonated as a policeman and dragged the victim to his car, before they drove to a remote area.
“The two accomplices were paid money for their help and they left the car leaving the teenager with the 25-year old maid alone in a remote area.”
The court heard that the woman was too weak to resist the rapist, which was why no trace of violence was visible on her body.
“I shouted for help but in vain,” she said.
Explaining the commutation of the sentence, the court said that it took into consideration the young age of the convict and his clean record.
OK. So two Sri Lankan men tell a ‘local’ man about an Ethiopian house maid, and they plot to kidnap her, take her far out into the desert and to rape her.
Their plot succeeds, only somehow, they are identified and actually brought to trial.
The two Sri Lankans escape, and are convicted in their absence. The ‘local’ man is given a life time sentence. But wait! His sentence is commuted to five years because of his youth and clean record?
If I were a Qatteri father, I would want to know this man’s name. I would not want a man marrying my daughter who had a history of kidnapping a woman and raping her against her will way out in the desert. This man may be young, but he has already shown himself capable of doing something hugely WRONG, according to his own culture, and the law of the country. He plotted. He went to the trouble of impersonating a policeman to intimidate her into his car. He took her to a place where there would be no help for her, and she endured a terrifying experience, an experience she did not know she would live through, and an experience which will haunt her life and make her feel unsafe forever.
And this unnamed ‘local’ teenager gets five years in prison. Here is a good example of where a female judge might make a substantial difference in delivering justice for the Ethiopian housemaid.
Buying a Car the Civilized Way
“Did you know USAA has a car buying service?” AdventureMan asked me. Well, yes, sort-of, but I’ve been not wanting to think about buying a new car with all the house-buying stuff and paper-filling out stuff and packing stuff and making lists.
On the other hand, every day I have to rent a car is money down the drain.
“I’ll just check it out,” I thought to myself.
It was so easy. You go online and tell the car buying service where you live and what you want to buy. They send your name and phone number and e-mail (since I don’t want car salespeople calling me in the middle of the night because they don’t understand about time zones, I only gave them my e-mail) to dealerships who participate in USAA’s program.
USAA also sent me a list of car dealerships in my area and a Certificate for me to print with their agreed upon price. That simple. The certificate prices were significantly lower than anything I had been offered at the dealership I visited, and these were guarantee.
Within hours, three dealerships had e-mailed me. I chose the closest, worked with a WOMAN to get what I wanted at the price I was willing to pay, and not one item more. She was courteous and helpful and respectful! She got me everything I wanted. She named an out-the-door price that I could live with.
The only downside is that the dealership is 35 minutes away, in Fort Walton Beach. The upside is that they have been known to deliver, and 35 minutes just isn’t that far. Like from Fintas to downtown Kuwait City in heavy traffic, or from my house to the Ritz Carleton in Qatar. I can live with that.
Yes. Yes, Daggero, you guessed it right, I am buying another Rav4, one with brakes that work. I’m not scared off by Toyota’s troubles. It’s like eating in a restaurant that has just re-opened after being closed for health violations; you know it’s never going to be cleaner than it is right now. 😉 I love the way the Rav4 is sort of small, I am sort of small, too. I love that it turns on a dime, and that I am high enough to look over most of the traffic, but small enough to park in a tiny parking spot. It’s an SUV, but a modest SUV, with good mileage per gallon, and a great record for reliability and repairs.
Here is what I love about this transaction. I did my homework. I know what I want. I know what is a reasonable price to pay. I am getting a better price than I expected. There are no games – here’s what I want, here is what I am getting and here is what it is going to cost, and that includes title and licensing. How cool is that? I feel like when you do business like this, everyone is a winner.
And a shout-out to Marisa at Quality Toyota at Fort Walton Beach for making the process easy and non-threatening and civil. Working with her to buy my new car was a pleasure.
Qatar Initiates Solar Energy Plan
Woooo HOOOO, Qatar, for not depending on a non-renewable energy source, but continuing to develop strategies for survival into the future. And Qatar definitely has an abundance of solar power. But then again – so does Kuwait.
Qatar to tap solar power in a big way
Web posted at: 3/2/2010 6:29:33
Source ::: THE PENINSULA/ BY SATISH KANADY
DOHA: Qatar is all set to tap its abundance of solar power. Two leading international agencies yesterday announced their decision to partner with two Qatari entities to produce the green energy in the country.
SolarWorld AG, one of the world’s largest solar companies, will partner with Qatar Solar Technology (QST), in which Qatar Foundation (QF) has a major stake. Separately, the Institute of Technical Thermodynamics, German Aerospace Centre (DLR), will partner with the country’s ambitious Qatar National Food Security Programme (QNFSP).
Qatar Solar Technology marks the entry of QF into the solar energy sector. QF will have a 70 percent stake in QST, with SolarWorld holding 29 percent and Qatar Development Bank the remaining one percent.
The initial investment in QST is valued at over $500m, QF said.
Through the joint venture, solar grade polysilicon, the essential ingredient of solar panels, would be produced in the first phase.
QST will develop a new plant in Ras Laffan Industrial City, in the northeast of Qatar, which will be one of the first operational polysilicon plants in the region. The plant will produce well over 3,500 tonnes per annum of the material and will be designed with future expansion in mind, which will enable it to significantly increase production capacity.
You can read the rest of the article, including contributions by Texas A&M, by clicking HERE
Grabbing a Half Day
While most of my time has been spent joyfully grandmama-ing, I was feeling increasing anxiety about one thing. I am flying back to Doha to pack, and then I am flying back to Pensacola to close on the house, and wait for AdventureMan to join me, and then all our furniture and household goods that have been in storage a lifetime – twelve years – will arrive.
Oh oh. Where do we sleep until our bed arrives? We COULD invade our dear son and his sweet wife once again, but don’t you think enough is enough? Would you want your parents and in-laws living with you, week after week, with all our well-intentioned advice, and stories about our son when he was young?
No? LLOOLLL, me neither!
So yesterday, I took an afternoon to myself.
First, I had learned that the Pensacola Quilter’s Guild was having their bienniel (once every TWO years) show this weekend, Friday and Saturday. There is little that can take this adoring grandmama away from her most adorable brand-new grandson, but I will admit it – a quilt show – that is beyond temptation. I had to go, even just for an hour. I went, joined the guild, hurried through the exhibit, which was GLORIOUS! and then I went furniture shopping.
Furniture shopping is not what it used to be. I have some lovely furniture in storage, but not a huge amount of it. Some of it we sent off with Law and Order Man when he went off to law school and needed some basics. Some of it is just outdated – like televisions from the 90’s! I figured I would just look for the basics – bed, mattress and table and chair. We will have a place to sit when we are not sleeping, and we can buy the TV’s together, later, with our son’s help. We need the help of the high-tech-savvy to get us up to speed on what we will be needing, phones, TV’s, cable connections, phone plans, internet connections, oh, it is as bad as buying a new car!
When we were still in the military, we found a dining room table and chairs, gorgeous, at an auction, for $169. We found marble topped antique oak nightstands, gorgeous, at the flea market in Metz, and paid $60 for the pair. We found a gorgeous buffet/credenza in a used furniture shop in Leavenworth, KS for $50 + $10 for delivery, all these are furniture pieces we still treasure. I am telling you this so you will understand what sticker shock I get when I go to look at new furniture.
I am quick and clear about what I want and need, but the prices require me to summon all the courage I can summon when I go to write the checks. I am good at saving. Letting that money go is so HARD. It took me the entire afternoon to find pieces I knew would work for us.
Here is where you will sleep, the guest room bed, when you come to stay with us:
It was on sale. I love it because, with the inlay, it sort of reminds me of the Middle East, of Damascus:
I also bought mattresses. It was difficult, too, because I don’t like these pillow tops. We like a good, firm bed, and I like to sleep cool, I can’t get to sleep if I am too warm, and these pillow tops are too warm. It took me a long time to find a good, firm mattress set for the bed.
Then I went looking for a table and chairs for the family room/ casual dining area. I knew what I wanted. My long-time Chinese friend told me the best table for families is the round table, no one sits at the head, everyone is equal. My sister Big Diamond (Little Diamond’s and Sporty Diamond’s Mom) has a HUGE, gorgeous round table, and I have seen how people love to gather there. So I knew I wanted a round table that would be inviting and comfortable, but not so grand as my sister’s. I have been looking online, checking out a lot of models. When I found one here in Pensacola, at a reasonable price, I was hooked. It is light teak – light in color, heavy in weight. OOps. Then she reminded me I would need chairs. Aaarrgh.
There weren’t any other customers in the shop at the time, so we took our time. As I learned from you, my Middle Eastern friends, we dickered a little, comfortably and amiably – and she gave me a discount, and free delivery.
The chairs are amazing. You would not believe wood could feel so comfortable. The table and chairs together remind me so much of all our times camping and in lodges in Africa, in Zanzibar, in Zambia, in Botswana, where the furniture is both comfortable and well made. But I almost choked, writing the check. Some things are just worth buying new; sturdy, comfortable furniture is one of them.
Here is the guest bathroom:
It has a spa tub and a walk in shower. 🙂
Last but not least, I found some farewell gifts for friends I have had in Doha for a long long time, and a bolt of muslin for a friend who knows I am coming back with suitcases almost empty. 🙂 It was a long day, and a fruitful day, and I am resting easier knowing all these little details are coming together.
Today, however, my son and his wife are taking me to the kinds of places I LOVE buying furniture! The Waterfront Mission Store and Loaves and Fishes! Wooo HOOOOO!
One in Four American Mortgages ‘Underwater’
Underwater Mortgages Hit 11.3 Million
Posted: February 23, 2010 at 7:25 pm
There is a reason that 702 American banks, nearly one in ten, were on the FDIC “problem list” as of the end of 2009. A large number of small and mid-sized banks are burdened with home and commercial mortgages that are in default and may even go into foreclosure.
New data from First American CoreLogic shows why the solution to the problem banks face is so difficult to find. Eleven million, three hundreds thousand homes had underwater mortgages as of the fourth quarter of last year. That number represent 24% of all residential homes loans in America.The mortgage numbers are much worse when homes with equity of less than 5% are included. First American reports that ”an additional 2.3 million mortgages were approaching negative equity at the end of last year, meaning they had less than five percent equity.” That means that three out of ten homes have virtually no financial value to their owners.
The pressure that the home value trouble puts on banks is clear. The aggregate dollar value of negative equity was $801 billion at the end of last year, up $55 billion from $746 billion in Q3 2009. People who believe there is no hope of their homes ever having any economic value are more likely to default on mortgages, especially in an environment where unemployed and under-employed people make up 17% of the total available workforce nationwide. Many homeowners are as concerned about their employment future as they are about the value of their houses.
Problem home loans are concentrated in the regions where real estate values have fallen the most–Arizona, Florida, Nevada, Michigan, and California. First American says that “among the top five states, the average negative equity share was 42 percent, compared to 15 percent for the remaining 45 states.” In other words, the odds are relatively high that some of the home owners in those states will never sell their houses for more than the amount of their mortgages. That creates a vicious cycle in which high numbers of people with underwater loans default in the states where real estate values have dropped the most. There is no easy way to create a foundation under home prices.
The FDIC has closed 20 banks this year, Five of those were in the five states where mortgage equity problems are at their worst. The agency closed 15 banks in December. Of those, five were in Arizona, Florida, Nevada, Michigan, or California. The bank failure and mortgage failure problems area inextricably linked.
The First American numbers do not leave much hope for a home price rebound this year. It is too hard to sell a house with an underwater mortgage because the bank has to be paid the balance of the loan in cash at closing. Many people do not even try make home payments or cannot afford to under those circumstances. The Mortgage Bankers Association reported that a record 15% of American mortgage holders are either in foreclosure or at least one payment behind.
The difficulties that face small and mid-sized banks, which ultimately are a problem for the FDIC, are to a large extent still a fallout of the deteriorating real estate sector. The underwater mortgage problem is still growing and that almost certainly means bank closings will be high again this year as well.
Douglas A. McIntyre
Warrior Woman Does Not Buy a New Car
It’s a beautiful day in Pensacola, I had baby duty all morning, but the afternoon is mine. I’ve been wanting to buy a new car; I could buy it and have it waiting for me when I come back. I know the car I want, the model, the color, everything I want – and do not want. The only thing that holds me back is that I hate the whole car buying process. I remember Saturn – nice car, pretty colors, drove well and you walk in and there is one price, and that is the price for everyone. I don’t know what happened. They stopped making Saturns.
So first, I just decided to see if I could find the place. I found it. Then I decided to drive around the lot and see what they had. I did that. Then I decided just to walk into the lobby and see if they had anything like price sheets there, although I had already done my research online. There was a nice young man waiting outside just for me, and he took me on a test drive. Here is what is really cool. Have you ever driven a car so new that it had one mile on the odometer?
I love the car. I had one like it before. This particular car had some features I didn’t care about and don’t want to pay for.
I know what I want. I know what I want to pay. He showed me figures. I told him what I wanted and what I was willing to pay. He printed out a bunch of stuff so he could explain to me why the car he wanted to sell me was going to cost more. I told him what I wanted and what I was willing to pay for it. He had to go talk to his manager. He came back with more figures. I told him what I wanted and what I was willing to pay for it. He went to get his manager.
I told him what I wanted and what I was willing to pay for it. He said he couldn’t sell me the car at that price, so I smiled and shook everybody’s hands and thanked them for their time and I left, after more discussion. I think they were shocked I walked out. I was shocked too.
And delighted.
“But you still don’t have the car!” my son reminded me.
I know I don’t have the car. It’s OK. I have time. I don’t know if this makes sense to you, but I just feel so good! I didn’t buy a car I didn’t want! I stuck by my guns! I know what I want (and what I don’t want and don’t want to pay for) and what I am willing to pay, and I believe with all my heart I am going to find my car at my price (it’s a reasonable price.) I am so proud of myself for not being talked into buying the car I didn’t want at the price I didn’t want to pay!
Anxiety and Me
Anxiety and me – we go a long way back.
I am greatly familiar with anxiety . . . it is almost genetic. Maybe I was born of a family of worriers, people who looked for all the worst possibilities, and then ruined a perfectly good day by focusing on things that might – or might not – ever happen.
Today’s reading from Forward Day by Day was just what I needed now, with a tiny newborn grandson who is coughing, and a house inspection which shows some things that need to be done, and a moving process about to take place, and an earth-shaking retirement . . . if you are the praying kind, I would ask for your prayers for peace of mind, strength in service and courage in the face of adversities and challenges.
FRIDAY, February 19
Philippians 4:1-9. Do not worry about anything, but in everything by prayer and supplication with thanks-giving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and minds in Christ Jesus. Beloved, whatever is true, whatever is honorable, whatever is just, whatever is pure, whatever is pleasing…if there is any excellence and if there is anything worthy of praise, think about these things.
Anxiety is a kind of fear–not of God, but of the unknown future. It is unreality. We draw the unreal future into the present and proceed to stab ourselves with it.
How passionately Jesus strove to overcome our delusion of crossing bridges before we come to them! Imagine an able and loving father whose children ran about in panic lest next year they might not have food to eat or clothes to wear.
Anxiety is a symptom. The disease is mis¬trust of our heavenly Father. The cure is to look around and see what he has done for us already and to thank him for it. How many lovely things, how much to praise him for! If anything is needed, ask: and then leave it to God. If he doesn’t give it, so much the better. It wasn’t needed. What God always will give–if we trust him–is his peace, the best gift. (1946)
PRAY for the Diocese of Bath and Wells (Canterbury, England)
Ps 95 & 31 * 35; Ezekiel 18:1-4, 25-32; John 17:9-19
Generosity of Spirit
In our Womens Bible Study Class, the discussion turned to how living in these lands, the cradle of our religion, has illuminated the reading of the bible in new ways for us. As I read this morning’s readings, I thought of all the loving kindness we have been shown at your hands, at the unending generosity of spirit you have shown us, living here, in this dry and thirsty land . . .
Abraham's Departure, by József Molnár
The Hittites tell Abraham he is a mighty prince among them, and welcome to bury Sarah where he would wish. Ephrom refuses to take payment for the cave Abraham wants to buy, insisting that Abraham accept it as a gift. This, near Hebron . . .
Abraham insists on paying for the land, and hands over, piece by piece, 400 pieces of silver.
Would that God would bless the land with a similar spirit, that the Jews and the Palestinians might find a way to share the land and to live together in peace, as a blessing to one another.
Genesis 23:1-20
23Sarah lived for one hundred and twenty-seven years; this was the length of Sarah’s life. 2And Sarah died at Kiriath-arba (that is, Hebron) in the land of Canaan; and Abraham went in to mourn for Sarah and to weep for her. 3Abraham rose up from beside his dead, and said to the Hittites, 4‘I am a stranger and an alien residing among you; give me property among you for a burying-place, so that I may bury my dead out of my sight.’
5The Hittites answered Abraham, 6‘Hear us, my lord; you are a mighty prince among us. Bury your dead in the choicest of our burial places; none of us will withhold from you any burial ground for burying your dead.’ 7Abraham rose and bowed to the Hittites, the people of the land. 8He said to them, ‘If you are willing that I should bury my dead out of my sight, hear me, and entreat for me Ephron son of Zohar, 9so that he may give me the cave of Machpelah, which he owns; it is at the end of his field. For the full price let him give it to me in your presence as a possession for a burying-place.’ 10Now Ephron was sitting among the Hittites; and Ephron the Hittite answered Abraham in the hearing of the Hittites, of all who went in at the gate of his city, 11‘No, my lord, hear me; I give you the field, and I give you the cave that is in it; in the presence of my people I give it to you; bury your dead.’ 12Then Abraham bowed down before the people of the land. 13He said to Ephron in the hearing of the people of the land, ‘If you only will listen to me! I will give the price of the field; accept it from me, so that I may bury my dead there.’ 14Ephron answered Abraham, 15‘My lord, listen to me; a piece of land worth four hundred shekels of silver—what is that between you and me? Bury your dead.’ 16Abraham agreed with Ephron; and Abraham weighed out for Ephron the silver that he had named in the hearing of the Hittites, four hundred shekels of silver, according to the weights current among the merchants.
17 So the field of Ephron in Machpelah, which was to the east of Mamre, the field with the cave that was in it and all the trees that were in the field, throughout its whole area, passed 18to Abraham as a possession in the presence of the Hittites, in the presence of all who went in at the gate of his city. 19After this, Abraham buried Sarah his wife in the cave of the field of Machpelah facing Mamre (that is, Hebron) in the land of Canaan. 20The field and the cave that is in it passed from the Hittites into Abraham’s possession as a burying-place.
FHA Numbers Indicate Foreclosures Will Rise
From AOL Daily Finance: Real Estate News
The percentage of mortgages backed by the FHA that are in default has risen by a third over the last year. According to a report in The Washington Post, “About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency’s figures show.”
Many of the troubled mortgages were granted in 2007 and 2008. Mortgages that are two to three years old apparently carry especially high risks of default because of the high number of loans made during those years to people with extremely low credit scores.
The report adds to the confusion about the direction that the housing market is heading in 2010. RealtyTrac recently reported that forecloses this year may hit 3 million, up from 2.8 million last year. When the company released December 2009 data on January 13th, James J. Saccacio, chief executive officer of RealtyTrac said, “In the long term a massive supply of delinquent loans continues to loom over the housing market, and many of those delinquencies will end up in the foreclosure process in 2010 and beyond as lenders gradually work their way through the backlog.”
Government data showed that home starts fell 4% in December, but building permits rose. The choppy federal data, which can change direction month by month, has been a hard set of indicators to use to forecast the real estate market in terms of sales and home prices.
The housing market’s future will continue to be plagued by unemployment and over-leveraged consumers, and pressure will also be put on home prices by owners who have underwater mortgages. Some of these mortgage holders may believe that there will never be any equity value in their homes and that they are better off turning their house keys over to the bank. In addition, a wave of $47 billion in interest only loans will reset to full payments this year, according to credit agency Fitch. A portion of these home buyers will not be able to make their new, higher monthly payments.
The FHA news only adds to the probability that 2010 will not be any better for the housing market than 2009 was.
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Early Voting in Florida
