Stop Predatory Lending --- Who Benefits?

WEALTHY 400

There have been a number of changes to lending control authority given to the States since 2004 and leading up to 2004. The federally chartered banks and savings associations have prevailed in the courts effectively continuing a trend in our Country which feeds the Liberal belief that the Federal Government is wiser and more protective of citizens then the individual states. There are many of us who intuitively believe that this is a fallacy of modern times and as well it is not the intention of the United States of Americas, founding fathers to see a complete federal dominance of states rights.         EXAMPLE:   From Emma Jane Hodson, Author,

1. See Christopher R. Childs, Comment, So You’ve Been Preempted - What Are
You Going to Do Now?: Solutions for States Following Federal Preemption of State
Predatory Lending Statutes, 2004 BYU L. REV. 701, 702-03 (2004) (explaining that
the Office of the Comptroller of the Currency and the Office of Thrift Supervision
have found that state laws enacted to combat predatory lending do not apply to
federally chartered banks or savings associations on preemption grounds resulting in
an additional challenge for states in regulating predatory lending).

Where are the Legal Scholars? Who are the beneficiaries of these rulings and trends. One guess, you have got it, it is big banks and banking corporations. Who are those banks? Take a look at this article by Mike Alberti.

Let us look at housing foreclosure trends in the US a helpful link on current states foreclosure rates comparisons. Read this article link about theory of banking control, and next time we shall see who benefits from the banking debacle.

Billioniare Dies at age 54

WEALTHY 400

The J Paul Getty story:

Money did not buy an easy life for J Paul Getty III who has died at the age of 54. J Paul Getty III, and son Balthazar, have considerable connections to celebrities, Mick Jagger,Sienna Miller, Yves Saint Laurent, Elizabeth Taylor. J Paul Getty III became a party animal, while he suffered through much tragedy in his life, his wealth afforded him much pain partially as a result of his behavior and the tragic experience of his 1973 kidnapping by the Italian Mafia.

Only three out of the Forbes list of richest Billionaires can be regarded as self starters according to Born On Third Base, By Nick Thorkelson. The rags to riches stories are often not told in a totally up front way, especially about how the wealthy got started. If they inherited wealth like the father of J Paul Getty III, J Paul Getty Jr, the troubles often follow them. Mostly this occurs because the very wealthy inherited great wealth and did not struggle along the way to achieve their wealth. It appears there is balance created in those who learn to appreciate what they have as a result of experiencing the challenges and triumphs of success though personal failure and personnel endeavors. Thus those billionaires who inherited wealth, are exposed and unprepared for the dangers and unpredictable outcomes that wealth can create. Such an outcome unfolded in the famous kidnapping of J Paul Getty III in 1973. His father J Paul Getty Jr. ultimately paid over $2,000,000 in ransom money to release his son. J Paul Getty Jr., to his credit, he gave away more than $200 Million to UK charities before his death at the age of 70. John Paul Getty III is survived by his two children, son Balthazar and stepdaughter Anna, and six grandchildren and his brother billionaire Gordon Getty. The family wealth originally was derived from J Paul Getty III, grandfather, J Paul Getty. See his history. However, even his wealth was originally achieved partially by having the advantage of being a son of a millionaire in the Oil Business in the 1800's.

If you are in the Los Angeles area check out the J Paul Getty museum and Hollywood homes tour.

You will see the Getty collection of art and view magnificent celebrity homes if you take the tour.

Another Heir with trouble is Edgar Bronfman Jr. The Seagram Heir's music business has gone a wry. See his troubles with an insider trading conviction. Perhaps it becomes hard when business wealth can becomes to much to manage. However, if you created your business from rags to riches the experience it seams would provide better vision to avoid problems. You may wish to read Fortune's Fool, a book by Fred Goodman, if you wish to discover more about the fast moving music business and Mr Bronfman's world.

Wealthy benefit from Hedge Funds

WEALTHY 400

My friend Chip has brought up his concerns over how the wealthy 400 may have benefited from the financial real estate debt crisis; of which we are all still suffering financially from the lingering debacle. Many wealthy Americans have benefited from investing in Hedge Funds. Hedge Funds were first set up by Albert W. Jones in 1949. Hedge funds were originally used as a short sale vehicle and for combining leverage techniques for investors. See What is a Hedge Fund . Hedge funds are still largely unregulated, you can find an explanation of how Hedge Funds were to be regulated by the SEC but the SEC was over ruled by the courts; read about it in What is a Hedge Fund .

It may be that Wealthy 400 Americans have benefited greatly from investing in hedge funds, however it was average Americans who purchased real estate on a basis by which many could not afford it. To the extent that this problem was becoming predictable by American Wealthy investors, their investing vision was formulated before the obvious crisis had unfolded, this may say more about our Government's inability to react to our impending financial problems, then whether or not unfair advantages were provided to the Wealthy. It may be however, in general, that if the Wealthy were unable to Hedge against there investments so efficiently, then there may have been greater concern generated by the wealthy; creating perhaps significant vocalization of the problem to our Legislators; thereby initiating positive change prior to the crisis developing. Here are some of the Wealthy 400 who were involved with Hedge Funds.


Henry Swieca - Highbridge Fund
Jamie Dinan - York Capital
Stephen Mandel - Lone Pine Capital


CNBC reported recently that Hedge Funds may be the Next To Big To Fail problem in the financial markets. See how they describe the growing size of Hedge Funds; Next To Big To Fail .

If you are an investor it may be time to become more familiar with Hedge Funds and possibly get on board with an investment strategy. Remember it will take quite a bit of capital to get involved and invest in a Hedge Fund. According to Eurekahedge the following describes minimum investments required for Hedge Funds.

What is the minimum investment?
The minimum investment varies from fund to fund. Although some funds are charging as low as US$10,000 these are very much the exception and a common starting range would be between US$250,000-$500,000. Established funds can have much higher minimums; $10,000,000 or more, depending on the fund and manager. The fund manager can waive the minimum at his sole discretion but this is usually only undertaken to accommodate serious investors who stipulate an intent to allocated substantially more than the stated minimum, depending on how this initial allocation performs.
Good Luck, Stay Tuned For More about American Wealth

Why they are Great

WEALTHY 400

Bring on the world of change as these Wealthy are ready to astound the World with discovery and creation. Darwin Deason has made his fortune  with Affiliated Computer Services (ACS) a leader in business processes outsourcing and  IT services; following the path of Ross Perot's, Perot Systems.

Deason made his initial fortune when he led a Dallas data processing company called MTech Corp. that was sold in the late 1980s. He then started ACS, which specializes in back-office functions such as payroll and benefits management.
ACS went public in 1994; five years later, Deason relinquished the chief executive duties but kept his chairman title.
Over the years, ACS has grown steadily and, along with Electronic Data Systems Corp. and Perot Systems Corp., strengthened the Dallas area's reputation as a global headquarters for outsourcing. Now Mr Deason's Company ACS, is helping XEROX improve its business with E-Filing Solution from ACS . With this assistance Attorneys can now securly electronically submit court documents online anytime;
Progress and faster justice. Good work!

Wealthy Americans Invest where returns are best

As my cousin Fred says, wealthy Americans are looking for the best returns around the world. As it should be, freedom to chose and create opportunities with wealth is the best attribute of capitalism. I think that there are some great examples of investing opportunities and successes in America in sports. Look at professional Football for example. Thomas Benson the owner of the New Orleans Saints, purchased the team with a group of investors for about $70 million in 1985 (Forbes 2010 edition reported), it is reported that the team is worth over $955 million.

According to Sports Illustrated Magazine:
40 Tom Benson
New Orleans Saints
Net Worth: $180 Million  - try over $1 Billion net worth according to Forbes Magazine
Born in the Crescent City; age 66. Has 19 car dealerships, two banks in San Antonio and a 2,000-acre farm in Johnson City, Texas. Granduncle Herbert Benson was a founder of the Sugar Bowl game and the architect of Tulane Stadium. Celebrates wins by dancing a parasol-twirling jig on the Superdome sideline.

Read more: http://sportsillustrated.cnn.com/vault/article/magazine/MAG1138367/5/index.htm#ixzz1AsW4tHCZ

What will happen when our newest BCS champion quarterback, Cam Newton hits the NFL. Maybe Daniel Snyder, Owner of the Washington Redskins will have an interest in this prospect. Look at his NFL success see Forbes

What wealthy americans are doing for America? What can we find out about trends in America from the wealthy?

Who are the wealthy 400? We will explore the news and achievements and the people to examine what trends are developing and how are the wealthy interacting or creating improvements to their lives and how are opportunities for enhancing knowledge being created and what incite into trends are available and developing in America. Much can be learned from how successful people operate their lives and on a scale with wealth so great the obvious is that these trends are more visible and accessible.

Sidney Kimmel: Cancer treatment centers can change the world. What a great avenue to help people and Sidney has done just that. His wealth of over $1 Billion is helping him to enhance the worlds treatment centers for cancer research.  Stay with us as we explore and develop an understanding of the best side of wealth in America.