Money Management – Bridgeville Star Thu, 27 May 2021 21:37:55 +0000 en-US hourly 1 Money Management – Bridgeville Star 32 32 KCR renamed Congress plans and fooled people, says Jana Reddy Wed, 07 Apr 2021 23:16:11 +0000

Nagarjunasagar: Kunduru Jana Reddy, the congressional heavyweight and a seven-time veteran MP for Nagarjunasagar (known as Chalakurthy constituency until 2009), faces the toughest battle of her political career spanning nearly four decades of two political newcomers – from the TRS and the BJP – in the Nagarjunasagar Assembly bypoll scheduled for April 17. He was first elected as a TDP MP in 1983. With the exception of the Assembly polls of 1994 and 2018, Jana won the MP post for seven terms and served as minister for a record 17 kinds in Telugu politics.

Jana Reddy is counting on his own image to win votes this time around, aside from the sympathy factor he lost in the 2018 election. He is giving the campaign a boost by derailing the development he made as as deputy and minister. He also challenges the TRS ruling that he would stay home without campaigning if they are willing to do the same and let voters decide who is better, based on who has done what so far.

In an exclusive interview with Deccan Chronicle at her Nagarjunasagar residence, Jana Reddy explains why it is important for people to elect congressional candidates in the bypoll, and adds that it is necessary to save democracy in Telangana and control abuses. of monetary power in elections, “which has become a norm under the TRS rule over the past six years.”

Q: Why are you proposing to challenge this circumvention without campaigning and challenge the ruling TRS to do the same?

A: This is just a bypoll. Congress will not form government if it wins that seat, and a Congressional government will not fall if it loses that seat. For TRS too, this theory holds good. The result of this bypass will have no impact on the TRS government. In this scenario, let’s stay at home and leave the decision to the voters.

TRS says that they developed Nagarjunasagar constituency during their six-year reign and that I haven’t done anything for the past three decades. Let the voters decide who did what. On behalf of the campaign, the TRS is deploying a large contingent of leaders and ministers. They entice voters with money, alcohol, and other incentives. When they claim that all the development has been done by TRS, where is the need for all this hungama?

Q: But campaigning in elections is the right and responsibility of political parties.

A: I totally agree. Unfortunately, the TRS had completely commercialized the elections since taking office in 2014. We have never witnessed such abuse of monetary power and the government apparatus in elections.
witness now.

Q: What were your accomplishments as a seven-time MP for Nagarjunasagar?

A: I worked for the development of the constituency and I managed to solve many problems that the people face. My riding is surrounded by forests and irrigation projects. Obtaining forestry and environmental approvals to undertake development programs is a Herculean task. Despite this, I got clearances to lay BT roads stretching over 975 km, more than what KCR did for their constituency. I could get approval for a drinking water system worth Rs 25 crore. The entire land in Nagarjunasagar was under the responsibility of PWD but in 1983 I helped provide the property to residents of 2000 neighborhoods. for a nominal payment of Rs 100 on Nagarjunasagar.

Thanks to my efforts, the sanctions imposed on people under the pretext of unauthorized construction were also revoked by the state government in 1985. A boarding school was established in Nagarjuna Sagar about 35 years ago. Of the three boarding schools created at the time in the united PA,
one came to Nagarjuna Sagar through my efforts.

Q: Yet were you defeated in the 2018 election?

A: As the ruling party, the TRS engaged in a blatant abuse of power to defeat me in 2018. They went to the point of threatening beneficiaries of social protection schemes whose names would be removed.
the list of beneficiaries if the TRS candidate has not been elected. Despite this, I lost by a small margin of 7,700 votes. I polled 76,000 votes and TRS got 84,000 votes. This is not an easy task.

Q: But opposition parties say that you are afraid to campaign because people would ask about the lack of development in Nagarjunasagar during your tenure as MP and Minister.

A: The TRS leadership is lying about the lack of development of Nagarjunasagar during my tenure. I am ready for an open debate with anyone on this issue.

Q: TRS is campaigning for its social protection and development programs to reach every household.

A: This is yet another lie. The TRS welfare regimes are nothing more than a continuation of the Congressional government welfare regimes that have also reached every household. It was the Congressional government that introduced pensions for the poor, free energy for agriculture, exemption from crop loans, the Arogyasri, reimbursement of expenses, scholarships. What KCR did was just rename those shots. He didn’t even manage to properly implement the renamed schemas. What he did again was Rythu Bandhu and Rythu Bima. But he stopped all other financial aid, subsidy programs for farmers like interest-free loans, pavala vaddi loans, as well as Rs 5 lakh compensation for farming families who committed suicide, and he did so. done under the guise of Rythu Bandhu and Rythu Bima. The end result is that farmers now receive the same financial assistance they used to get during terms of Congress. Congress has built new irrigation projects in the Nalgonda district. I dare KCR to show at least one new project that he started and completed in Nalgonda district or elsewhere in the state.

Q: The ruling party maintains that you were rejected in 2018 and that the people of Nagarjunasagar elected Nomula Narasimhaiah for five years until 2023. Due to Narasimhaiah’s untimely death, this bypass happened and it would have been ideal for Jana Reddy to hand over the seat to Nomula’s family instead. to challenge again against the will of the people?

A: I am ready to quit this election even today if KCR launches a public appeal to my party high command to leave the seat to TRS in the bypoll. I made this suggestion earlier as well, but there was no response. If KCR makes this call, I will endeavor to convince my party’s high command to allow me to withdraw from this bypass.

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Renewable energies provide 42% of ERCOT’s electricity in March Wed, 07 Apr 2021 23:15:54 +0000

The shift from fossil fuels to wind and solar accelerated in Texas in March. Data from Energy Information Administration The power grid hourly monitor shows that wind power production in ERCOT shattered its previous record, surpassing 10.4 million MWh during the month – 2 million MWh above its previous record last December.

This production has pushed the wind’s share into the ERCOT electricity market at 38.6% and first place in total production, another first for the rapidly expanding resource.

According to the Institute for Energy Economics and Financial Analysis, solar production exceeded 1 million MWh in March, a level it had only reached three times before (in June, July and August 2020).

Together, the two renewable resources accounted for 42.4% of ERCOT’s production during the month, well ahead of gas, at 30%, and coal, at just 14.9%.

This large increase in production can be attributed to normal spring winds and the continued build-up of new wind and solar capacity at ERCOT. The transmission operator’s latest capacity installation report, released in February, predicted that there would be 29,447 megawatts (MW) of wind capacity in operation at ERCOT by the end of March, an increase of 2 343 MW compared to the previous month. Similarly, the amount of solar energy is expected to climb to 5,649 MW from 4,473 MW the previous month.

These increases are putting increasing pressure on the state’s fossil fuel generators, which will only intensify over the next two years. By the end of 2021, ERCOT estimates that more than 12,000 MW of solar capacity could be installed in its service territory and that the amount of wind could reach 35,000 MW. Even greater capacity is expected by 2022.

Another issue for fossil fuels is the moderating impact that the increasing amount of renewable capacity is likely to have on prices, especially during periods of high demand in the summer. These times have traditionally provided a disproportionate share of the annual income for many producers, incomes which are now threatened by the surge in solar production.

This development was evident during the last two weeks of March. Although still a long way from the state’s peak daylight period of late May to late July, solar exceeded 7% of ERCOT’s daylight electricity demand on 12 occasions from 15 to March 31. This generation, coupled with the expected addition of more than 1,000 MW of battery storage by July, will strive to cap prices, posing more risks to fossil fuel generators in the market.

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What the suspect was charged with Wed, 07 Apr 2021 23:14:51 +0000

Edwin Kiama was arrested on Tuesday April 6. [File, Standard]

By George Maringa and Brian Okoth

Edwin Kiama, a Nairobi resident accused of writing false information about President Uhuru Kenyatta, will be in custody on Wednesday evening after the courts fail to rule on his bail request.

Kiama was arrested in front of the senior resident magistrate of the Milimani courthouse, Jane Kamau.

The prosecution charged Kiama with two offenses, namely computer misuse and cybercrime and publishing false information about President Kenyatta.

Kiama did not accept a plea because the prosecution was slow to produce its case.

The prosecution had previously requested that the suspect be held for 14 days to allow investigations to be completed, a request which Kiama’s lawyers, Martha Karua and Harun Ndubi objected to.

At 4 p.m. on Wednesday, Magistrate Kamau postponed the decision on Kiama’s bail application until 9 a.m. Thursday.

It is still unclear whether Kiama will plead on his subsequent arraignment.

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Magistrate Kamau ordered the suspect to be detained at the central police station before his trial.

Kiama was arrested Tuesday evening April 6 at his home in Nairobi for allegedly drawing up a poster warning the international community against approving the loans requested by President Kenyatta.

On Wednesday morning, Kiama’s lawyer, Martha Karua, called the prosecution’s request to confine the suspect “laughable”.

Karua said the app made no sense, given that law enforcement officers know Kiama’s whereabouts and that he poses no risk of absconding.

“They already have his computer, [which has all the content they are seeking to examine]Said Karua.

While defending the state on why it needs to detain Kiama, the prosecution said the kidnapping of the suspect would give them more time to properly prepare for the case.

Karua called the prosecution’s argument flawed, saying it was “illegal” for the prosecuting authority to appear in court unprepared.

“They came to court unprepared. We are now asking that our client be released on bail. So far, no file listing his offenses has been produced in court by the prosecution, ”Karua said.

Kiama’s controversial poster came following a 255 billion shillings loan disbursement to Kenya by the International Monetary Fund (IMF).

The added debt on the shoulders of taxpayers drew criticism from Kenyans online, who took to Twitter to ask the IMF to reverse their decision to give Kenya the multibillion shilling loan.

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Who will repay the massive loans of the Jagan regime? Wed, 07 Apr 2021 23:14:51 +0000

Commentators, especially middle class people, are reacting strongly to the defensive arguments made by the YCP government on the issue of colossal loans. Chandrababu Naidu also got massive loans in his time, but there was a balance between development and well-being at that time. They used to support their arguments by saying that the loans were used to develop basic infrastructure in the areas of health, education, agriculture and other sectors.

Now the situation has become quite strange. Jagan’s regime made a clever argument that it did not abuse the huge loans, but only distributed them for cash benefits given to the poor. But then, the question arises as to whether this massive social expenditure has contributed to raising the standard of living and the spending capacity of the poorest sections in a significant way.

Sections of the middle class, which make up the highest-paying segment in taxes, are particularly concerned about how the YCP government has tried to defend its huge loans. While the ultra rich default to the banks and get by with it, the poorer sections receive enough cash benefits from governments not to work. Ultimately, it is the middle class segment, employees and small businesses that suffer.

If the government continues to give huge loans to provide free cash benefits to the poor, then how should it be repaid. The government itself claims that revenues fell 3.37% in 2019-2020. The arguments of the YCP have undoubtedly raised greater concerns than ever before about the economic situation and state debts among the population.

Telugu360 is always open to the best and brightest journalists. If you are interested in full time or freelance, email us at

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Prosecutors say court wrongly overturned Wilmington Trust convictions Wed, 07 Apr 2021 23:14:51 +0000

Federal prosecutors have asked an appeals court to reconsider its January decision to overturn the fraud convictions of four former senior Wilmington Trust executives.

In January, the Philadelphia Federal Court of Appeals ordered acquittals on charges that bankers lied to investors and regulators about the amount of questionable commercial real estate loans held by the bank. He also quashed bankers’ convictions on two counts of conspiracy and securities fraud, leaving those charges open to a new trial.

In a case filed Thursday with the U.S. Court of Appeals, federal prosecutors argued they should be able to fire the bankers on most of the charges, which the appeals court handed down as ‘acquittals. They also said the court should have upheld the other two convictions for conspiracy and securities fraud.

Read the latest deposit at the bottom of this article.

The record signals that U.S. Attorney David Weiss is prepared to retry bankers on some or all of the charges after federal prosecutors spent several years getting the convictions overturned. A spokesperson for Weiss declined to comment on the filing.

American lawyer David Weiss

The appeal court’s request for another argument is the latest turning point in a more than decadelong saga involving the once venerable institution of Wilmington.

Two years ago, a Delaware jury found former Wilmington Trust chairman Robert Harra Jr., former CFO David Gibson, former credit manager William North and former controller Kevyn Rakowski guilty of various crimes related to the non-disclosure of hundreds of millions of dollars in bad debts from regulators.

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Businesses and lawmakers want to use federal funds to reduce unemployment-related debt Wed, 07 Apr 2021 23:14:51 +0000

Employers big and small are worried they’ll have to start paying more into the Connecticut Unemployment Trust Fund to repay the $ 700 million borrowed to pay claims.

“Businesses in Connecticut, which will not have federal relief funds, will pay off this debt for many years,” Chris Dipentima, president and CEO of the Connecticut Business and Industry Association, said Wednesday.

Dipentima says it took Connecticut companies five years to pay off the billion dollars they borrowed during the Great Recession.

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Loans available to residents of Malden following fire – The Daily Evergreen Wed, 07 Apr 2021 23:14:50 +0000

Application open until April 12; interest rates as low as 1.18%


The people of Malden are still working on reconstruction nearly six months after the Babb Road fire that occurred last fall.

ABBY DAVIS, Associate Editor-in-Chief of Evergreen

Residents of Malden affected by last fall’s devastating fire can apply for loans through the Small business administration until April 12.

The SBA approved a disaster declaration for Whitman County on February 9, shortly after the county’s request to the Federal Emergency Management Agency individual help was denied, Malden Mayor Dan Harwood said.

In addition to Whitman County, the statement also includes surrounding counties such as Adams, Sutton, Columbia, Franklin and Garfield, said Cynthia Cowell, the SBA’s public information officer.

People eligible for loans have the option of rebuilding themselves at a very low interest rate. Interest rates could be as low as 1.18% for homeowners and tenants and 3% for businesses, she said.

“It’s a pretty decent rate, even in today’s world,” Harwood said.

The disaster declaration covers businesses of all sizes, including private nonprofits, landlords and tenants. The SBA opened its first Virtual Disaster Loan Outreach Center to help those interested in applying for loans, Cowell said.

Many people are uninsured or underinsured. The SBA can give them loans of up to $ 200,000 for a house and $ 2 million for a business. Economic disaster loans are available for business owners who may have suffered economic losses, she said.

Homeowners and tenants may be eligible for personal home loans up to $ 40,000. These loans cover things people take when they leave their homes, such as cars, furniture, clothing, and some household appliances. Cowell said the SBA is also providing mitigation measures for homeowners to help them prepare for the upcoming fire season.

“A lot of people will say, ‘I know I’ll never qualify for a loan, we’re in the middle of COVID,’ and my suggestion would be to go ahead and apply,” Cowell said. “It doesn’t make a sound… so we can determine if we can help you, and in most cases we can.”

The SBA does not provide loans to farmers. Farmers should turn to the United States Department of Agriculture for help, she said.

Cowell said it was important for people to use their insurance money first. The SBA cannot duplicate what insurance will pay people, but it can supplement it up to the amount of the damage to the home.

“For most people things are tough right now and so we are offering people who probably couldn’t afford the higher rates lower rates, and that’s one of the reasons we differentiate ourselves from the banks, ”she said.

Harwood said he encourages everyone who is eligible to apply for the loans. If someone does not have the capacity to repay the loans and is refused by the SBA, there is other help available to them.

Currently, an Amish group is building two homes for individuals in the city. Harwood said everyone comes together as a community and people will get the help they need.

“When people go through a traumatic experience, people go through many levels of recovery: denial, anger and depression,” he said.

The fire that ravaged Malden was quite unique due to the large number of destroyed homes, he said.

Harwood said he wanted to reach out and thank everyone who helped the Town of Malden during this time, whether it was the Commerce Department or someone who donated $ 5.

“There is no way for us to thank everyone,” he said. “We want everyone to know how much we appreciate their help and think of us.”

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Banks urge COVID-19 caution as economy improves Wed, 07 Apr 2021 23:14:50 +0000

Leading mortgage brokers say banks are cautiously taking the brakes on home loans and removing additional checks on borrowers that were introduced at the height of the coronavirus pandemic.

The trend comes against a backdrop of a continuing surge in new lending, but brokers say they don’t see an increase in high-risk borrowing, nor do they believe regulatory caps on home loans will be introduced anytime soon.

The hot real estate market has put bank lending standards under the microscope of regulators.Credit:Brent Lewin

With house prices are rising at their fastest pace since the late 1980s, the quality of bank loans is under the microscope. Regulators have repeatedly warned that they do not want to see a deterioration in credit underwriting standards, noting that they could intervene if necessary.

Several brokers, including Commonwealth Bank’s Aussie Home Loans and its merger partner Lendi, said banks had become less conservative about the height of the pandemic last year.

Australian Managing Director James Symond said that after banks “pulled their horns” during the peak of the pandemic, they were now taking a more “commercial” approach to credit ratings.

“We are seeing a more balanced approach from the banks. We’re seeing less conservatism, but a lot of thought is put into every client application, ”said Symond, who also predicted that real estate investors would increasingly enter the market over the next 12-18 months.

Lendi data – who announced plans to merge with Aussie last year – showed that the proportion of loan applications for which lenders ask for more information from the client rose from 48 percent in March last year to 28 percent this year.

Lendi chief executive and co-founder David Hyman said the decline was a sign that banks were taking a much less conservative approach than they were at the start of the pandemic and in the aftermath of the Hayne Royal Commission .

Despite this, Mr Hyman said the proportion of loans with high loan-to-value valuations was relatively stable last year and that he did not believe macroprudential policies were needed at this time. “There is growing fear of missing out as prices go up, but we don’t see borrower behavior getting riskier across the board,” he said.

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Fixed-rate student loan refinancing rates approaching record highs Wed, 07 Apr 2021 23:14:50 +0000

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours.

The latest interest rate trends for student loan refinancing from the Credible Market, updated weekly. (iStock)

Rates for qualified borrowers using the Credible Marketplace for refinance student loans in 10-year fixed rate loans hit another low during the week of March 22, 2021.

For borrowers with a credit score of 720 or higher and who have used the Credible Marketplace to select a lender, during the week of March 22, 2021:

  • 10-year fixed-rate loan rates averaged 3.75%, down from 3.81% the week before and 5.02% a year ago. The record low for 10-year fixed rate loans was 3.71%, during the week of February 15, 2021.
  • 5-year floating rate loan rates averaged 3.39%, down from 3.35% the week before but down from 3.42% a year ago. Variable rate loans hit a record low of 2.63% during the week of June 29, 2020.

Trends in weekly student loan refinancing rates

If you are curious about what type of student loan refinance rate you may be entitled to, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

Current student loan refinancing rates by FICO score

To alleviate the economic effects of the COVID-19 pandemic, interest and payments on federal student loans have been suspended until at least September 30, 2021. As long as this relief is in place, there is little incentive to refinance federal student loans. But many borrowers with private student loans are taking advantage of the low interest rate environment to refinance their student debt at lower rates.

If you are eligible to refinance your student loans, the interest rate you may be offered may depend on factors such as your FICO score, the type of loan you are looking for (fixed or variable rate) and the loan repayment term. .

The chart above shows that good credit can help you get a lower rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms. Since each lender has their own method of evaluating borrowers, it is a good idea to ask for rates from multiple lenders so that you can compare your options. A student loan refinance calculator can help you estimate how much you could save.

If you want refinance with bad credit, you may need to apply to a co-signer. You can also improve your credit before you apply. Many lenders will allow children to refinance Parent PLUS Loans in their own name after graduation.

You can use Credible to compare prices from multiple private lenders at once without affecting your credit score.

How are student loan refinancing rates determined?

The rates applied by private lenders to refinance student loans depend in part on the economy and the interest rate environment, but also on the duration of the loan, the type of loan (fixed or variable rate), the creditworthiness of the borrower and the operating costs of the lender. profit margin.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products that best suit their particular circumstances. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without compromising their personal information or affecting their credit score. The Credible Marketplace offers an unmatched customer experience, as evidenced by more than 4,300 positive reviews on Trustpilot and a 4.7 / 5 Octoberscore.

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MassHousing Provides $ 25 Million Funding to Massachusetts Community Wed, 07 Apr 2021 23:14:50 +0000

Morse Apartments

Brookline Housing Authority (BHA) has borrowed $ 25 million for affordability extension for low-income senior residents and improvements to Morse Apartments, a 99-unit community in Brookline, Massachusetts. MassHousing provided the short and long term funding through the agency. Conduit loan program.

The proceeds will be used both for construction and for permanent loans in partnership with Boston Private Bank & Trust. The renovations are expected to be completed by summer 2022. Colantonio Inc. will act as the general contractor, while BWA Architects will be the architect.

Located at 90 Longwood Ave., the 10-story building was constructed in 1973 and offers convenient access to Coolidge Corner, Beacon and Harvard streets, as well as the Stop & Shop, Trader Joe’s and various restaurants. Using funds from the $ 18 million set aside for renovations, the borrower will make improvements to the unit with new kitchens and bathrooms, new windows, plumbing and common area improvements, protection against fire and HVAC upgrades.

Currently operated as federal public housing, BHA plans to convert the property to Federal Section 8 based on the project. Subsidized housing, and 98 of the 99 units will be reserved for residents with incomes equal to or less than 60% of the regional median income.

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