You Can Bank On It.

Most U.S. citizens walk into, get online to, or drive up to their bank several times each week and hand over their hard earned dollars. Why do they do it? How many other strangers would they trust to hold their savings, and return the money and additional funds back to them at any point in time? What makes banks safe, and how do we know they are? Well, the first indication that you’re money’s in a safe place is the placard that greets you at the door – FDIC. This federal U.S. agency, the Federal Deposit Insurance Corporation, typically protects up to $100,000 of your deposited funds from loss. Established in the 1930’s, the FDIC became a way to curtail the runs on banks that occurred directly after the Depression. By 1934, with the initiation and support of the FDIC legislation bank runs had been reduced by nearly 4000. In addition to FDIC protection, banks also pay for supplemental banking insurance from private carriers. This insurance is set up to protect investors’ funds from vandalism and bank robberies. Banks offer a variety of options to their customers, many of them an evolution of the traditional checking and savings account operation. While a checking account is still the most familiar and most common banking feature, there are now a variety of checking account choices – some, known as negotiable order of withdrawal (NOW) accounts, actually pay interest on the balance. Besides the traditional savings account, banks also now offer loans, certificates of deposit, and money market accounts. Some offer IRAs and education savings accounts. With a traditional savings account, you are able to deposit and withdraw virtually at will, with no minimum deposit or balance required. For this you earn a small interest – currently at an all time low range of .6 – 2 percent. A money market account offers the immediacy and convenience of a traditional checking account along with the interest bearing advantage of a savings account. There are some limitations, however. Generally you can write just a few checks per month – at some banks as few as three. You are also limited to just a few more withdrawals as well. You’ll also be held to a minimum running balance, although a money market account almost always pays more interest than a traditional savings account. A certificate of deposit is a banking account purchased in a specific amount for a specified period of time. Banks traditionally offer a variety of time periods for certificate maturities – anywhere from 30 days to 15 months. The longer the time to maturation the higher the rate of interest paid. For the length of the certificate, however, you are not able to withdraw any of the funds. Individual retirement accounts (IRAs) and education savings accounts are designed to accrue a substantial amount over a lengthy time period for a specific purpose, IRA’s for retirement, education savings account for college education. They generally offer the highest rate of interest but also deliver hefty financial penalties for early withdrawal except for emergency hardship situations. With as many options as are offered by today’s banks, and the protections established by the FDIC, you can indeed bank on your local bank.

What Is Your Bank Charging You? A Guide To Bank Charges

When you’re shopping around for a bank account there are a lot of factors to consider. Many people go for up-front incentives, such as money paid into the bank account, vouchers or a gift. However, it is worth looking at bank accounts in more depth to find out what you might be paying for various transactions. Here are some of the transactions that banks might charge you for. Authorized Overdraft An overdraft is like a short term loan. The bank gives you permission to spend more than the funds you have in your account. This amount is usually fixed in consultation with the bank and may be reviewed at stated periods. Some banks have a free authorized overdraft up to a certain limit and charge for any balance over that limit. This is the best way to arrange an overdraft. Unauthorized Overdraft When customers spend more than they have in their accounts without arranging an overdraft limit, this is known as an unauthorized overdraft. Banks penalise customers heavily for this by charging an unauthorized overdraft fee of more than £35 in some cases. The excess spending will also be charged interest at a higher rate than normal. Cheque Services Some banks charge for clearing cheques more quickly than the standard period (this can range from three to seven days depending on the banks involved and the day of the week). There may also be fees for processing cheques in a foreign currency. Taking Money Out Sometimes customers need to set up direct debits, where companies take certain sums from a bank account each month. They may also wish to set up standing orders, where they arrange to pay a certain amount to another bank account or company each month. Some banks charge a setup fee for these services. . It is also worth looking at the daily withdrawal limit on a current account. This can vary widely depending on the bank you choose. Other Bank Charges Banks may also charge for other services such as: 1. setting up a loan facility 2. changing or issuing foreign currency 3. writing cheques that exceed the cleared balance in an account 4. stopping a lost cheque Banks will also charge customers if they have to write to them about an infraction of bank rules, such as exceeding the overdraft limit or defaulting on loan repayments. This means that defaulting customers have to repay the debt as well as the additional charges. Doing some research could save consumers a small fortune in bank charges. In addition for looking for incentives, consumers should look for banks that keep their charges as low as possible. With a bit of digging, it is easy to find banks with: 5. an automatic overdraft limit for which there is no charge 6. free standing orders and direct debits 7. free transfers between banks 8. low unauthorized overdraft fees 9. low charges for other bank transactions Choosing a bank that fits this profile will help with overall financial health.

Bank Ratings – Ratings Will Help You Find the Best Bank Around and Avoid Choosing the Wrong One

Reading bank ratings can be a tremendous way of picking the right bank to do business with. All too many people just settle for whatever bank is in their area and don’t investigate at all if it’s really the best one for their needs. Aren’t all banks the same? In services offered, many of them are similar, but in terms of customer service and many other variables, there are many differences. Also, the quality of service can vary widely from bank to bank. The financial advisors at one bank might not be nearly as competition as the ones at another bank, for example. Therefore, finding the best bank to do business with is a critical step to take. Here are some tips to help you find the right one easily. First of all, Bank of America is one of the most popular banks in the country, and they have locations all around the country, hence the name. Chances are, if you have seriously looked into the top banks around, you have at least considered Bank of America. Are they really the best? When it comes to their customer service, they are always one of the fastest banks to respond to any issues you might have with them, which is always an important component. Just by emailing or calling them, you can almost always get a hold of somebody very shortly, many times within the same day. They have region specific customer service numbers, so in order to find the right one for you, just check the banks in your area. The best part about bank of America, however, is their online banking, which is really second to none. First of all, if you are concerned about security online, as many still are when it comes to online banking, you don’t really have to worry about this with bank of America. Security really isn’t nearly as much of an issue now with any bank as it used to be, but bank of America is always towards the top of the list in this department, so if you are paranoid you can be put at ease. Another feature they offer is the ability to set up automatic payments for certain businesses. You obviously wouldn’t want to do this with everybody you do business with, but the companies that you find yourself working with over and over, all you have to do is input their info into your account, set up a date to pay them each month, and the money will be automatically debited from your account and put into theirs without you having to lift a finger. This is an excellent option, and one that really comes in handy with companies you work with a lot, and can save you a ton of time when paying your bills online. If you do go with Bank of America (or any other bank for that matter) you absolutely should take advantage of their online banking features, as this will save you some serious time and help you get a lot more done. This is one of the reasons that bank of America is always towards the top of many bank ratings online Published at: https://www.isnare.com/?aid=301268&ca=Finances

Is Your Custodial Bank Or Depository Bank Secured?

What is the best way to save for your retirement? If you ask this question to any good financial advisor, he or she would recommend you to open a self directed IRA account and take the investment responsibility on your own. And there is no doubt that self directed IRAs can offer you the best solution to grow your money as per your requirements. This will open up a lot of investment options that you could not have accessed otherwise. As things are changing very fast and there is a lot of news that companies are deceitful about their employee retirement funds, a lot of professionals are taking the onus on themselves to save for their retirement. To add to this, there had been a huge change in mindset. Most of the new generation professionals do not think about staying with a single company years after years. Whenever they get a better opportunity, they jump to grab it. Thus they want to take the control of their retirement investment on themselves, rather than staying with the retirement investment options offered by the new company. Those who want to take charge of their retirement, normally go for self directed IRAs, as it offers maximum investment options and security. More importantly, with a self directed IRA, you can plan your investment according to your age, financial status and the maximum amount of risk you can afford. However, a lot of people, who are new to the retirement investment arena, often ask if their self directed IRA plans are secured with the custodial bank or not. This is not all. They have almost similar questions about Depository Banks too. You can simply say that your IRA account is safe with them. But our experience says that everyone is not always satisfied with such simple answers when it is about the security of their hard earned money. And they have all the right to know every aspect of the deal when their future depends on it. So what is the real scenario? With a self directed IRA, you have all the freedom to make any decision you feel the best. The core decision making option is on you. And the custodial bank is bound to follow your decisions. The custodial bank just works as a custodian of your IRAs and naturally you are always the owner. In fact, when you are working with an international bank or a trust, the IRA amount that is yet to be allocated by you, is kept into different depositories (depending on limits) that are federally insured. This is done to maximize the security of your money. Almost the same can be said about Custodial Banks as they also work as a depository of your self directed IRAs that you are yet to invest. These amounts are also insured to maximize security. You can also make some arrangements like transferring your engagement with that custodial bank to another one when your primary custodial bank is in serious trouble. However, it is always recommended that you keep watch on your banks. And is their any reason to keep your IRAs with the bank? There is no meaning in turning them into self directed IRA if you do not invest somewhere. If you are looking for high yield investments in a secured atmosphere, self directed IRAs are just perfect for you. If you are still worried about this investment option, talk to a friend who has self directed IRAs and you will get your answer. Published at: https://www.isnare.com/?aid=250740&ca=Business

What Is Your Bank Charging You? A Guide To Bank Charges

When you’re shopping around for a bank account there are a lot of factors to consider. Many people go for up-front incentives, such as money paid into the bank account, vouchers or a gift. However, it is worth looking at bank accounts in more depth to find out what you might be paying for various transactions. Here are some of the transactions that banks might charge you for. Authorised Overdraft An overdraft is like a short term loan. The bank gives you permission to spend more than the funds you have in your account. This amount is usually fixed in consultation with the bank and may be reviewed at stated periods. Some banks have a free authorised overdraft up to a certain limit and charge for any balance over that limit. This is the best way to arrange an overdraft. Unauthorised Overdraft When customers spend more than they have in their accounts without arranging an overdraft limit, this is known as an unauthorised overdraft. Banks penalise customers heavily for this by charging an unauthorised overdraft fee of more than £35 in some cases. The excess spending will also be charged interest at a higher rate than normal. Cheque Services Some banks charge for clearing cheques more quickly than the standard period (this can range from three to seven days depending on the banks involved and the day of the week). There may also be fees for processing cheques in a foreign currency. Taking Money Out Sometimes customers need to set up direct debits, where companies take certain sums from a bank account each month. They may also wish to set up standing orders, where they arrange to pay a certain amount to another bank account or company each month. Some banks charge a setup fee for these services. . It is also worth looking at the daily withdrawal limit on a current account. This can vary widely depending on the bank you choose. Other Bank Charges Banks may also charge for other services such as: 1. setting up a loan facility 2. changing or issuing foreign currency 3. writing cheques that exceed the cleared balance in an account 4. stopping a lost cheque Banks will also charge customers if they have to write to them about an infraction of bank rules, such as exceeding the overdraft limit or defaulting on loan repayments. This means that defaulting customers have to repay the debt as well as the additional charges. Doing some research could save consumers a small fortune in bank charges. In addition for looking for incentives, consumers should look for banks that keep their charges as low as possible. With a bit of digging, it is easy to find banks with: 5. an automatic overdraft limit for which there is no charge 6. free standing orders and direct debits 7. free transfers between banks 8. low unauthorised overdraft fees 9. low charges for other bank transactions Choosing a bank that fits this profile will help with overall financial health. Published at: https://www.isnare.com/?aid=65620&ca=Finances

Key Bank Locations – Easy Tips To Choose The Best Bank

Following the quick to do, simple to understand tips below will instantly help you identify key bank locations offered by each bank you’re interested in registering an account with. This guide will conveniently help you pinpoint the best bank for your particular needs. Learning the tips below will greatly help in properly choosing key bank locations bundled with an account provided by the banks in your list. Body: One of the most important things to consider when reviewing key bank locations is the availability of a convenient parking space. This will offer you the best convenience, especially in situations when you need to drop by your bank’s ATM or withdraw money you urgently need. Also check if the parking space offered by the bank is safe, well lit during the night and with the presence of security guards. Busy areas around the parking space provided by the bank should be one of your main considerations when choosing key bank locations. After all: These busy places, especially during the night, usually tend to ward off criminals and the like. Train stations and bus stops near the bank are also important things to consider. Of course: You should check the destinations and route of those train stations and bus stops. There would most likely be times when you need to take the train or the bus so you can get to wherever you’re headed to right smack on time in the most convenient ways possible, aside from driving your car, right after you drop by your bank or ATM. Checking if these train stations and bus stops are well lit and with the presence of security guards should also be done. This will allow you to pinpoint the safest train stations and bus stops to go to during the night, since there would most likely be incidents where you would need to drop by your ATM for emergency funds during the night. Again: Areas around the bank that are bustling with activity during evenings can possibly ward off gangs and criminals. The distance of your home and office from your bank is useful to consider when choosing a bank. This can allow you to save gas money or gain more convenience each time you need to go to and from your home, office and bank. By distance, this means displacement of your office, home and bank and not actual distance, because you obviously need to go through roads or streets to go to your house, office and bank. And: These roads circle around certain places, making your destination point farther than its actual distance. Convenient places to shop and dine should also be considered when it comes to key bank locations. Doing this will provide you with the comfort of easily walking to a mall or a restaurant and shop for the things you need or eat the food you desire right after you drop by your bank or ATM. Yes: All with your car parked safely in the space provided by your bank and reserved to its customers. Yeah: It’s a well lit and secure parking space, especially if you do the things discussed above when choosing key bank locations. Published at: https://www.isnare.com/?aid=917840&ca=Finances

Tips For Using Bank of America Real Estate Buying Bank Owned Foreclosure List

The Bank of America real estate buying bank owned foreclosure list can be a dream come true for buyer’s scouting out discounted properties. Many buyers are interested in buying foreclosure homes because they are sold below market value. The BOA foreclosure list provides access to thousands of nationwide properties to help buyers locate the perfect piece of real estate. Bank of America real estate buying bank owned foreclosure list offers a wide variety of discounted properties. Buyers can browse listings to locate residential properties, commercial real estate, and vacant land; many of which are price well below current market value. BOA foreclosure real estate consists of single and multi-family homes, condominiums and townhomes, and manufactured and mobile homes. Commercial properties include apartment and condominium buildings, bed and breakfast facilities, office buildings, retail outlets, hotels and motels, land tracks, and industrial real estate. Buyers are frequently concerned that foreclosure properties will require time-consuming repairs which can add thousands to the purchase price. With careful research and property inspections, buying bank owned foreclosure homes is a relatively risk-free venture that can provide home buyers and real estate investors with great properties at affordable prices. Individuals can begin exploring discounted bank owned homes for sale via the Bank of America Real Estate Center website at RealEstateCenter.BankofAmerica.com. Visitors will find a variety of real estate buying information and resources and have the option of submitting online loan applications to obtain preapproved financing; all from the comfort of home. The BOA real estate center allows buyers to compare home mortgage loans including: combination home mortgages, jumbo loans, interest-only, and FHA and VA loans. BOA also provides information about first time house buyer programs, Fannie Mae Home Path mortgages, and Neighborhood Champions Protected Mortgage; a program which offers special financing options to individuals employed in public service fields. The Bank of America real estate center helps visitors locate various types of property quickly and easily. Individuals can enter different search parameters such as number of bedrooms and baths, property location, and price range. BOA bank owned foreclosure real estate prices range from below $10,000 to over $10 million. The majority of foreclosure properties sold through Bank of America are listed through independent real estate agents. However, some properties are sold directly through BOA’s loss mitigation division. Each property listing includes listing agent contact information. Bank owned foreclosure properties are priced below market value and there is little room for price negotiation. Oftentimes, the only way to obtain reduced pricing is to provide a cash offer. When investors or home buyers purchase real estate with cash they eliminate the possibility of being denied financing and can expedite the closing process. Bank owned real estate can be profitable for investors. In today’s real estate market it has become common practice for investors to utilize bank foreclosure lists to locate discounted properties and maximize their return on investment. When investors and home buyers purchase bank owned homes in areas hit hard by foreclosure they should consider applying for HUDs Neighborhood Stabilization Program grants. Individual buyers can apply for one grant, while investors can apply for up to five NSP grants. NSP grant money can be used to satisfy down payment requirements or to rehab the property. Program details are available at HudNSPHelp.info. Buying real estate through the Bank of America bank owned foreclosure list gives borrowers the opportunity to purchase homes at discounted prices and can open the door to obtain grant money or special financing options. Those who take time to research available options for buying bank owned real estate can save money and earn a good return on investment. Published at: https://www.isnare.com/?aid=565861&ca=Real+Estate

Did You Let Your Piggy Bank Get Away?

I think most of us have at some point in our lives. Some how we forget to feed the little piggy. And, like most neglected “pets”, your piggy bank will disappear if you don’t feed it. A personal budget is important to create financial independence and setting goals for feeding that “piggy bank” should be an important part of your budget! The most successful financial plans allow you to INVEST IN YOURSELF! It just makes good sense. A plan to build financial security should always be considered essential to any budget. Even if you’re on a plan to reduce debt, you need to include plans to build a foundation for future financial security. A good savings routine and variable expense account are essential to building a strong foundation for financial independence. A variable expense allowance in the budget is important to save for those expenses that seem to “hit us unexpectedly”. Funny thing is, we know these expenses will occur. They are an inevitable fact of finances for most of us. So, why do we call them unexpected? I can’t explain why, but there are many of us who make this very BIG mistake in our budgeting. Some expenses don’t occur monthly. Some are paid out every now and then, quarterly, yearly, or bi-monthly, or semi-annually. These are expenses like car insurance and maintenance, home insurance and maintenance, property taxes, income taxes, medical expenses (prescriptions, deductibles, co-pays), pet care, school expenses (supplies, trips, activity fees, books), and clothing. Some of these are huge expenses that can put a ripple in any good budget if not planned for. Most of us have good intentions, but it’s easy to fall prey to the credit card companies without a plan to cover all of these “unexpected” expenses. The term still makes me chuckle. I mean, don’t we “expect” to wear clothes? It’s even funnier to me knowing that I was guilty of this very thing. Poor Planning! Not expecting what should be expected. Lesson ……….Don’t forget about this expenses in your budget. They will sabotage the best of intentions! The other essential ingredient to a successful budget is a savings plan. A good savings plan should have a goal to reach at least the minimum amount necessary for you to survive for a three to four month period. It may take time, but this a strategy that provides a fail safe against a financial crisis. Crisis such as serious illness or job loss. Trying to save money by cutting your savings budget out will eventually backfire on you. It is essential to build financial security, in order to remain debt free, you must not compromise your savings expense. Only if there is no way to avoid it should you reduce the amount of your monthly savings commitment. Start with 2-4% of your monthly income if you have to. A little is better than nothing, and then you can build it up from there to at least 10% of income as funds become available. Some Important Points: Applying extra funds to your debt first will not help you gain financial security. Emergency savings and variable expense savings goals should be met before debt is reduced in order to remain debt free. After all, these sources will be the foundation you will fall back on in order to remain debt free. If you can build a reserve for emergencies you won’t have to use those nasty credit cards. This is an important defense that builds financial security. If you use a good debt reduction plan, debt will reduce, and in a reasonable amount of time. As long as you stop creating debt. Just be patient. Paying more on your debt, instead of saving, is not going to help you pay for that major car repair when the car breaks down. It will most likely do the opposite of your intended plan and send you running for the credit card to bail out. Of course once you have reached your goals for savings and your variable expense account, then you should start applying extra funds to your debt reduction plan. Using money saving tips reduces expenses in your budget in an effort to help you build that financial security. Through saving money on everyday expenses and living a frugal lifestyle, you free up monies to apply to your savings and variable expense account. These are the defenses that build a strong foundation for your financial independence. These “defenses” prepare for the inevitable expenses that will arise. Many of us had just forgotten to plan correctly for these types of expenses. That’s how we got in the “big red mess” to begin with. Properly preparing for necessary variable expenses is your defense against feeling the need to use the credit cards. Once you have balanced your expenses with your income, you have created a Budget for Debt Free Living. Congratulations! You are on your way to financial freedom and security. Enjoy! This concept is simply “living within your means.” Something that many of us in today’s “plastic society” have forgotten to do. Published at: https://www.isnare.com/?aid=5496&ca=Finances

World Bank

When poor countries become desperate for economic help, they turn to the World Bank for loans. However, these loans come with strings attached – the World Bank imposes certain harsh conditions on debtor countries to ensure that their loans will be repaid. The Fund’s standard package is designed to “get the economy going again”, but the consequences for the poor are catastrophic because the World Bank, to put it loosely, “encourages” more land to be put into exports (increasing dependence on costly food imports), wages to be cut, reduction in state assistance to the poor, and increased ease of access for foreign corporations. These policies are beneficial to the rich countries, but they have had such savage effects on poor Third World people that riots against the World Bank break out from time to time. Far from progressing towards self-sustaining, economic growth, and prosperity, the Third World has fallen into such levels of debt that few would now hold any hope of repayment ($514 billion in 2007). Some countries now have to pay out most of their annual income just to meet interest payments on the debt. On top of that, the World Bank pays no attention to the environment by clear cutting unusable lands and destroying precious ecosystems, and have now be deemed responsible for a dollar amount of close to a trillion dollars in continuing destruction and wasted money during their “so called” economic projects that are always end up doing a lot more harm than good. Established at Bretton Woods in 1944, the World Bank is the most controversial international organizations in the world today. This is due to the Bank’s policies on the least advantaged countries of the world, which fall mainly in Africa and parts of Asia. More specifically, The World Bank, with their plan to “get the economy going again”, demands “structural adjustment” and “conditionalities” to be met before any money is authorized to be sent out. Poorer countries have no choice because they desperately need the money to keep their country going. This is a mistake, because country ends up having little to no choice on how the money is spent. They end up with the money being put towards something they did not really need, or want, and it is usually useless to them. The country ends up being worse off then when they began; they have a bigger debt, a higher interest, and a project ex. (No short terms) (road / electrical system) that does them little to no good, and they still do not have a long-term solution to their economic problems. As mentioned above, the term “Structural adjustment” refers to preconditions that the World Bank imposes before loans are made. These “conditionality’s” are based on market-oriented ideas that include devaluing the currency, increasing exports while decreasing imports, and decreasing social spending, among other requirements designed to ultimately balance the borrower’s budget. This mode of operation was not envisioned to come from the World Bank. It was created as a specialized agency of the United Nations. The World Bank was designed to serve as a short-term lending agency to be able to provide a temporary balance of payment and debt because of World War II (or Two). But in the 21st century they have become more of a loan shark, then a friend. Taken from the World Bank website, I was able to read about the diluted facts they have the nerve to put up (change wording). I summarized it as follows: Last year in 2002, the World Bank provided 19.5 Billion US dollars to client countries around the world. The World Bank currently works in more than 100 developing economies, in which they bring different financial ideas on improving the living standard and target to eliminate the worst forms of poverty. For each “client” country, the World Bank works with government agencies, nongovernmental organizations, and private sectors in their quest to formulate effective assistance strategies. The World Bank itself, which is owned by more then 184 member countries, has a main focus on helping the poorest people and the poorest countries with emphasis on: • Investing in people, particularly through basic health and education • Focusing on social development, inclusion, governance, and institution-building as key elements of poverty reduction • Strengthening the ability of the governments to deliver quality services, efficiently and transparently • Supporting and encouraging private business development • Supporting and encouraging private business development • Promoting reforms to create a stable macroeconomic environment, conducive to investment and long-term planning. In many countries in the world, hunger, poverty and things like illiteracy run rampant, since the opening in 1944, the World Bank boasts to be one of the key elements in the improvement of living standards in many of these countries. They boast to have made the lives of millions of adults and their children. In the last few decades, they have said again, to be a key element in the following: • Life expectancy has increased from 55 to 65 years • The number of literate adults has doubled • The total number of children in school has risen from 411 million to 681 million • Infant mortality has been reduced by 50 percent When reading this, how could one not become sick to their stomach? To say that they have been a tool in the reshaping and helping (use different word) of these countries is an outright lie. But this lie, kept by World Bank, is held in high regard. The World Bank is overly concerned, unlike most other modern corporations, about its image. The World Bank gets its product; loans and credits, “out the door” at the rate of two and a half million dollars an hour. Most poor borrowing country clients don’t much care how the World Bank is “perceived” so long as the money keeps flowing in to them. Whatever the appearances, these developing countries are not the World Bank’s real clients. The target audience it must impress is in the rich North Western Countries, and will stop at nothing to do it. If the World Bank’s image deteriorates too sharply, in the rich countries, because of lack of interest in different projects, it will sooner or later feel the pain in its purse and its power will consequently be diminished. The ACG claim charges that the World Bank violated its policies and procedures during the preparation of the Arun III hydroelectric project. The ACG believes that there are alternatives to the project that are less expensive and less environmentally and socially damaging; and would have the advantage of developing hydropower more evenly throughout Nepal. While Arun III will be largely dependent on international contractors, a range of small to medium dams could be planned, built, and run by domestic companies. The coalition questions the relevance of undertaking a $1 billion U.S. project that is almost one-and-a-half times the annual national budget of Nepal. The claim against the World Bank submits that during the preparation of Arun III the World Bank violated its policy on economic evaluation of projects and other policies on energy, information disclosure, the environment resettlement, and indigenous people. “It’s no exaggeration to say that Nepal’s economic future is at stake, Nepal is a poor country and this mega project is completely inappropriate for it. But the World Bank is ignoring viable alternatives that will meet our energy needs at a lower cost.” Local hydro experts, including staff of the Alliance for Energy have been promoting alternatives to the Arun III project for many years now. The Alliance for Energy has put forward to the Bank and the Nepali government a concrete set of alternative proposals that include small- and medium-scale dam projects of up to 100 megawatts that could be developed in a number of river basins spread evenly throughout Nepal and could easily meet the growing demand for electricity. These projects could be developed and built in less time, than Arun III, and would have the advantage of providing electricity to rural communities. According to the Alliance for Energy, the alternatives would be less damaging environmentally because the proposed sites are already near existing roads. Sadly, even today, having Nepal’s economic future riding on a thread, it is unknown what is going to happen with another one of the World Bank’s blunders. One final example is the problems that Africa has had with the World Bank in the last two centuries. Without going into greater detail, over the last 25 years, there have been failing projects after projects by the World Bank. Africa is at a point where people are using the term “continental bankruptcy” as an idea to deal with the detrimental economic problems. It now looks like there will remain a huge and escalating problem of multilateral and governmental debt for many low-income African countries. This is on top of the unilateral debts to private banks and governments. The World Bank, with this problem, has insisted that they not only have preferential status in debt repayment but also exemption from “default” or bankruptcy. Most people, around the world, think that the World Bank must be required to share responsibility with the borrowers or banks for failed and unviable projects and programs that they created. If the World Bank, who played the biggest part in Africa’s current economic status, it would be the start of a very long road for Africa to ever get back on economic track. Thinking back to my original question before making a decision, I asked myself, is the World Bank a friend or foe to the developing world? I think I would have to first expand on a statement made by the World Bank President Lewis Preston, after another blunder the World Bank made with the ravaging of India’s Bihar Plateau. It sums up to me what the World Bank is really capable of, “Most of these projects have experienced implementation problems causing delays in disbursement and completion. Problems include delays in project mobilization and procurement, poor quality construction and maintenance of infrastructure (irrigation and rural roads), inadequate preparation and implementation of resettlement and rehabilitation plans for affected families.” After reading this, coming directly from the horse’s mouth, and reading all the bad things that have come out of the World Bank, how anyone could not come to the conclusion that The World Bank really is a foe to the developing world is beyond me. They hinder and destroy the countries they try to “help” because they are unable to see the real picture. Developing countries need money to fund small projects to get going again, not huge projects, because the area in which they are building is still at a very low development level. Mostly, The World Bank is concerned about is getting funding, building and keeping power, and using the development of the less fortunate to their twisted benefit. With that, I feel, it is perhaps best to stay away from the ‘help’ afforded by the World Bank because their development strategies are often too aggressive and short-term and do not allow the fragile poor countries to gradually build up to their development expectations. It makes me sick that they use people in this way and then toss them aside and send away the bill. I hope that someday they stop getting all their funding and so other countries see that they are hurting people by supporting the World Bank, and making their own pockets bigger. Works Cited Abbasi K. The World Bank and world health. Changing sides. BMJ 2007; 318: 865-69. Abbasi K. The World Bank and world health. Under fire. BMJ 2007; 318: 1003-1006. Amos AF, McCarty DJ, Zimmet P. The rising global burden of diabetes and its complications: estimates and projections to the year 2010. Diabet Med 2007; 14 (Suppl 5): S1-S85. Chale SS, Swai ABM, Mujinja PGM, McLarty DG. Must diabetes be a fatal disease in Africa? Study of costs of treatment. BMJ 2007; 304: 1215-18. Decosas J. Developing health in Africa. Lancet 2007; 353: 143-44. Gill GV. Outcome of diabetes in Africa. In Diabetes in Africa. Eds G Gill, J-C Mbanya and G Alberti. FSG Communications Ltd, Cambridge, 2008. pp65-71. Jubilee 2008. The Debt Cutter’s Handbook. ISBN 0 9528683 1 8. London, 2007. The World Bank. World Development Report 2007. Investing in Health. Oxford University Press, Oxford, 2007. Yudkin JS. Tanzania-still optimistic after all these years? Lancet 2007; 353: 1519-21. Published at: https://www.isnare.com/?aid=255963&ca=Education

Can You Bank On Your Bank?

A critical series of steps, checks and balances exists that you must address, in sequence, to make your corporation or LLC business credit worthy. Your relationship with your primary lender (the bank that holds your business accounts) is one of the critical steps in that sequence. And while we can’t tell you everything today, the most important thing to remember is that this is a relationship. Banks make money by lending to individuals and businesses. It is a myth they do not need your business! Banks understand their fundamental role in handling your business–by making loans and credit available to individuals and business owners, they are strengthening the local economy, as well as branding themselves as a local or regional bank that “cares.” By providing banking services in an efficient, timely and professional manner, they remove one less “worry” from your ever-revolving list of business concerns. The following questions will help you determine how well you know your banker…and more importantly, vice versa. – Do you know your banker by their first name? What about the teller in the business line? – Does your banker know you by first name, or the name of your business by memory? – Does your bank know what your business does or provides as a service or product? If any of your answers is “no”, then you have some relationship work to do. There are thousands of banks out there—each of which should have a vested interest (to some degree) in knowing you, your business, and the way you manage your accounts and affairs. Test the waters within your own bank by simply talking to the teller or business manager the next time you make a deposit or withdrawal. If you’ve never sat down with a representative to truly discuss your goals, needs and concerns, schedule an appointment. And if you’ve ever made a serious call to your bank that went unreturned, or asked a question that went unanswered in a timely manner—then you owe it to yourself to consider switching banks entirely. The point is, the better you know your bank, and the better they know you and your business, the greater the chance your relationship will bear fruit as your business grows, and your need for additional services like credit or small business loans arise. As you might have guessed, how well you know one another is only the tip of the iceberg when considering which bank should hold your financial assets. How banks determine and use ratings, how assets and collateral mean different things to different banks, and how your history of revenue management comes into play are all legitimate concerns in this relationship—and it’s why our coursework and consulting services exist. Published at: https://www.isnare.com/?aid=244715&ca=Business