Crazy Guide to the Internet

Chicago, IL  –  Senator Obama released the following statement on joining with Senator Chris Dodd to introduce legislation for a new FHA Housing Security Program.

“The subprime lending crisis continues to threaten the American Dream for millions of working families. Over two million households are at risk of foreclosure. The impact on our economy as a whole has been devastating, with a substantial and disturbing deterioration in our job market, housing market, and credit market in recent days. The decline in the housing market has left millions of people with mortgages that are larger than their homes are worth. Many Americans are choosing to walk away from their mortgages, which worsens the foreclosure problem, hurts property values for entire neighborhoods, and also substantially aggravates the credit crisis among lenders. That is why we urgently need a new strategy that allows homeowners to obtain mortgages with reasonable and fair terms, prevents foreclosures, and eases the credit crunch.
 
“It is past time for the federal government to take direct and decisive action. To provide immediate relief, I am proud to join with Chris Dodd – the Chairman of the Senate Banking Committee – to introduce legislation creating a new FHA Housing Security Program, which will provide meaningful incentives for lenders to buy or refinance existing mortgages, and to convert them into stable 30-year fixed mortgages so that homeowners facing foreclosure can keep their homes. This will provide a federal backstop for lenders to reduce the principal of loans that are priced higher than the value of a home so that they are affordable for homeowners. It is not a bailout for lenders or investors who gambled recklessly.  It is not a windfall for borrowers. Instead, the Dodd-Obama bill is a responsible and fair way to help bring an end to the foreclosure crisis facing the country.
 
“This is part of my comprehensive mortgage agenda, which includes resources for pre-foreclosure counseling, a tax break to working families on their mortgage interest payments, and tough penalties on fraudulent lenders. We must provide immediate relief to American families and to the American economy, while also taking the necessary steps to prevent this crisis from happening again.”

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Reader Jereme writes:

This last evening I was hungry and decided that I wanted Jack In the Box. So I went to the Manhattan Beach, CA store on Sepulveda Ave. When I pulled up and was beginning to determine what I wanted for dinner I noticed a sign on the order board. It stated that in order to use a credit card it required a 30 dollar purchase, ID and a signature. While I have seen minimum payment requirements before at various liquor stores and restaurants I have never seen one so high especially for a drive thru window. I did ask if they accepted debit cards which I was told no. Since I did not have any cash I left and went to another fast food drive thru that did accept my debit card without a minimum purchase or other requirements. I have read many posts on your website regarding this and the many responses from your readers. I did not make a fuss or a scene, I simply drove past their window without making an order as I did not feel that store wanted my business. I did send a complaint to the corporate office of Jack In the Box as well regarding the violation of the merchant agreements. While reporting them to VISA may do nothing I felt that your readers should know that some franchisees are getting a but silly with their credit card use requirements.

He updated us:

As a follow up, I reported to the corporate office, VISA, and my bank. I heard nothing from Jack in the Box, VISA gave me their rules on what is not allowed, and Wells Fargo stated that merchants can set minimum purchase prices. I replied back to my bank with the answer I received from VISA. I have not yet heard back from my bank since that initial response.
…
I just got off the phone with Jack in the Box corporate customer care. The guy on the phone was nice enough, however he was not aware of the VISA merchant agreements either. He did state that the particular restaurant has had some cc fraud issues recently. But this shouldn’t cause users to be imposed with 30 dollar minimum purchases. He asked if I was able to be able to make a purchase using alternative means, so I stated that I did not have cash and did not return. He did offer to send out a coupon for some free Jack In the Box good at any of their restaurants.

Really, Jack In The Box? $30? A fast food place is one thing, but it’s kind of sad that even Wells Fargo can’t bother to read the Visa merchant guidelines.

The relevant section reads:

Always honor valid Visa cards in your acceptance category, regardless of the dollar amount of the purchase. Imposing minimum or maximum purchase amounts in order to accept a Visa card transaction is a violation of the Visa rules.

Visa Merchant Rules (PDF) [VISA]

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With a surge of support from young voters and new voters, and with a broad coalition of Democrats, Independents and even some Republicans, Barack has shown the ability not only to defeat John McCain in November, but to re-draw the political map and challenge decades-old assumptions about “red states” and “blue states.” Increased turn-out, enthusiasm and activism for Barack could have an impact on state-level races across the country. 

The Hill recently spoke to a number of lawmakers, and reported that:

A Southern House Democrat who faces a difficult reelection this year said Obama “has the potential to bring more folks to the polls and swell the ranks of Democrats.” The lawmaker, who has not endorsed either candidate, declined to speak on the record because Clinton may become the nominee.

Lawmakers have begun looking more closely at how the nominee may affect their own reelections or influence races in their states. Sensing this, Obama supporters have pushed their colleagues to consider how Obama and Clinton would impact Democratic candidates in November.

“I’ve had quiet conversations with a number of members,” said Rep. Rick Boucher (D-Va.), who has endorsed Obama. “I don’t think there’s any doubt about it, Obama would be more helpful to House candidates virtually everywhere.

Today a diarist from Daily Kos conducted a detailed breakdown of the recent SurveyUSA nationwide match-ups to determine “whether Obama or Clinton on top of the ticket would be better for us in terms of a ‘coattail’ effect on competitive Senate and House races in 2008.” The results:

Out of the 12 states which are likely to have competitive Senate races this fall, Obama performs better than Clinton in match-ups against McCain in 10 (Alaska, Colorado, Maine, Minnesota, Nebraska, New Hampshire, New Mexico, Oregon, South Dakota and Virginia) while Hillary does better in 2 (Louisiana and Mississippi).

Out of the 39 competitive House races, 27 (69% of total) are ones where Obama performs better than Clinton in match-ups against McCain. In 10 (26% of total) Hillary does better, and in 2 House seats both Democrats do equally well.

The effects of Barack’s coattails may have already been evident in last week’s special election in IL-14. Democrat Bill Foster won a special election to fill Dennis Hastert’s old Congressional seat in a traditionally Republican district, after Barack endorsed Foster and appeared in a television ad with him. Our local supporters also helped out by canvassing and phonebanking in the days before the election.  

In the Foster race, the Chicago Tribune saw signs that an Obama-led ticket could have a big impact in November:  

The result also could be an omen for November, when two other Illinois congressional seats are up for grabs following Republican retirements, and Sen. Barack Obama could bring out a huge turnout if he’s the Democratic presidential nominee.

“It tells me that voters are ready for a change,” said Sen. Dick Durbin. “They want new leadership in Washington.”

Help grow this movement for change in Washington and across the country — make a donation now.

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CBC Marketplace compared Monster cables with a midrange and a $12 HDMI cable. Both to the naked eye and to a computerized hardware test all the cable performed flawlessly. The only difference was the price. [CBC Marketplace]

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It’s not too late to celebrate St. Patrick’s Day in style… If you order by 2PM EDT tomorrow, your goods will arrive on Monday.

Check out Store.BarackObama.com for more great items. Remember, 100% of your purchase goes as a donation to the campaign.

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Obsessing over a number that’s only three digits long sounds a little OCD, until you realize how much a hundred or so points on it can cost you. I’m referring to credit scores. This three-digit number that lenders use to determine how favorable a loan to give you can affect many of your financial transactions, but it especially becomes a big deal when you take out a mortgage on a house. Let’s look at a home loan for $300,000 with two different sets of scores:

Credit Score 620-659
APR: 7.115%
Monthly payment: $2,019

Credit Score 760-850
APR: 5.799%
Monthly payment: $1,760

The higher better score saves $259 per month, or $93,240 over the course of the loan. So how do you make your score better? Well, improving your score is sort of a universe unto itself but you can get started by first finding out your credit score by reading our post, “Where To Get Your Real Credit Score.” Then, to learn how to improve your credit score, you will want to learn about “reason codes,” as described in our post, “Know Where To Fix Your Credit Score By Getting Your Reason Codes.” After that it will depend on your specific history.

(Photo: KUTV)

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WHO: A Utah Go-Cart track
WHAT: A woman’s long hair got tangled in the moving parts of a go-cart and her hair, scalp, and ear were ripped from her head.
WHERE: WDEF
THE QUOTE: “The owner of the go-cart track says… this was an extremely unfortunate accident that he feels horrible about…He also said the company takes safety of its customers very seriously.”

(Thanks to David!) (Image: CNN)

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Check out this video of the opening of our office in Pittsburgh on Tuesday.

We’re going to be opening offices all across the state, so keep checking back to find the office closest to you!

Remember to register to vote as a Democrat by March 24!

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