New rules for banks

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In a very strange development, the Federal Reserve announced Thursday that banks will now have to gain customer consent before charging large overdraft fees on ATM or debit card transactions.

Apparently the rule was devised to curve complaints from consumer groups, members of Congress and other regulators that bank overdraft fees were unfair. The groups claimed that banks would charge $25 to $35 in overdraft fees, even if the funds were not available in the accounts, making the owner of the account subject to further fines and fees.

Under the new Federal rule scheduled to take effect July 1, banks will be required to notify both new and existing customers of the their overdraft servcies and give customers the option of being covered. Customers who do not “opt in” will cause any transaction that exceeds their account balance to be denied.

This may have a huge impact on the banking industry, figuring that most banks will accrue $25-$30 BILLION a year in overdraft charges.

One has to ask what effect this will have on bank lending, account establishment and minimum balance practices.

Intel agrees to pay $1.25 Billion EU fine

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In an interesting turn of events, chipmaker giant Intel has agreed to pay the $1.25 billion European Union (EU) fine to competitor Advanced Micro Devices (AMD). Earlier in the year, Intel was fined by the EU for violating antitrust laws and purposely coercing its partners not to buy processing chips from competing chipmaker AMD. In an investigation that spanned over several years, it was found that Intel had frequently given discounts beyond reason to competitors that did not buy AMD chips. Intel vowed to appeal the fine, declaring its innocence in the matter and claiming that the EU decision was biased. Yesterday, in a surprise spin, Intel agreed to pay the fine granted that both companies sign a five year agreement which states:

Both Intel and AMD will give up any claims of breaching the previous agreement between the chipmakers. AMD drop all remaining law suits against Intel and both companies have rights to patents.

Intel has vowed that it will leave its past practices behind and carry forward in an open and competative market with AMD.

AMD stock is up $1.02 since the agreement was announced.

Family Friendly Christmas Movies

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If you are like me, you have probably noticed the Christmas displays already showing up at your local stores. With Thanksgiving just around the corner, Christmas is looming in the very near future. So here is just a small list of Christmas movie favorites, ranked in order of family friendliness, that you may consider for the season:

1)It’s a Wonderful Life (1946)
2)Miracle on 34th street (George Seaton 1947)
3)Emmet Otters Jug Band Christmas (1977)
4)A Charlie Brown Christmas (1965)
5)How The Grinch Stole Christmas! (1966 Original)
6)Scooge (1951 version with Alastair Sim)(Note: May be a little frightening for younger viewers)
7)Jingle all the Way (Note: This film displays some inappropriate refrences and mild violence)
8)Home Alone (Note: This film displays some parental disrespect and mild violence)
8)A Christmas Story (Note: This film contains some inappropriate language refrences and mild violence)

If you have other suggestions, please feel free to comment.

New York Gunman holds school principal hostage.

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The morning routine of Pine Plains, New York was rudely interrupted today as news of a hostage situation came from Town Supervisor Gregg Pulver. According to Pulver, Police were at the scene of Stissing Mountain High School, where they are negotiating the release of a school principal. The Gunman is believed to be the parent of one of the students at the school. Police at this time are almost certain that the unfortunate situation is due to a recent student suspension, but are unsure whether the student belongs to the high school or the middle school class body at this time. Currently about 100 officers, including the New York State Police and the Dutchess County Sheriff’s Department SWAT division are on the scene.

Please keep these children, this principal and their families in your prayers. Also be sure to pray for the gunman, so that he has a change of heart. These types of behaviors do nothing for anyone, but place more strain on a society that could clearly do without the additional stress. God Bless.

UPDATE: By grace alone, this situation was diffused and without casualty. The gunman is currently in police custody.

Your best investment in 2010

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If you are one of the one million American families that get a tax return, you may begin planning for the new year early. If your tax return is greater than two thousand dollars, you might consider sacrificing that new LCD flat screen or the new car that you have had your eye on, for the comfort of being bill free for a year. Yes, you might think about pre-paying your monthy utility bills. The process is simple, most utility companies will allow you to do it, the costs are usually less than you think, and imagine the comfort of not thinking about bills for a whole year. The weight that this practice can remove from a marriage and a family is unmeasurable. You will be surprised at how quickly you will regain your investment, with the money you will be able to save every month and how comforting it is to not have to worry about those monthly checks. But beside the confidence boost in your monthly saving, you will find a dramatic decrease in overall stress levels within you household.

Beginning the process is simple. Just figure your monthly average for each bill on your list, then multiply the figure by 12. So if your electric bill is $70 per month, then your payment for one year would be $840.00 total for electric. Do this for all of your bills and then add up the totals to see how much you will need to invest. Granted, not all will be able to pay every bill on the docket, but pre-pay as many as you can and you will not regret it. Since my wife and I began this method of pre-payment seven years ago, we have never quite gotten used to paying bills normally since. We enjoyed the method so much, that we continue to pre-pay in this manner today. It is nice to get the monthly bill that just says “NO PAYMENT DUE” with a nice “CREDIT” amount next to it. Just give it a try, the temporary sacrifice is well worth the peace of mind, and who knows, you too may never want to pay another bill the old fashioned way again.

A word about suffering

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This holiday season there are many good Christian people who will feel the bitter sting of the unstable economy, but we can not fall into a spiral of self pitty. If you are a believer, you should refer to the book of Job for comfort. Job was a wealthy and loyal servant of the Lord, who suffered a great deal at the hands of Satan as a test of faith. Though Job saw dark days and many losses, he did not allow these tests of faith to destroy his belief in the supreme power of God. In the end, Job was rewarded for his enduring faith and in return recieved Gods rewards. Granted that his trials were not the same as those we face today, but the principal is the same.

As people of God, we can not allow our faith to be staggered in times of trial. We have to embrace our trials as times of conditioning. The Lord is our teacher and his lessons are not always digested easily, but he will never give us more than we can handle. We instead should open his word and read, there is a great deal of comfort that lies in the pages of the Bible. The promises of God ring throughout, from cover to cover and we should lean on them in our times of need. In these trying times we need to cling to our faith like no other time in history, America desperately needs to rediscover the power and promise of God. As the Bible clearly puts it when referring to Gods people and suffering. Though Gods people may suffer, we do not suffer as those without hope. Remember the promises of God this holiday season and embrace the trials that may come with faith. God bless you and your families.

Three American Hikers will be charged with espoinage

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Shane Bauer, Sarah Shroud and their visitor Josh Fattal had no idea that they were going anywhere near Iranian borders on July 31. When they accidentally took a wrong turn on a planned five day hike, that it exactly where they ended up. The trio entered nothern Iran by mistake, but today it has been announced by Iranian prosecutor for the Public and Revolution Court Dr. Abbas Ja’afari Dolatabadi, that the three will be charged with espionage. The hikers families have been working hard for their release to no avail. This recent news comes as a surprise, so please pray for these three and their families.

Health Care Reform Bill passes the house.

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I have officially seen it all. We all opposed it. We all fought to keep the government out of the health care system. Winning by a slim 220 to 215 vote, it would appear that government regulated health care is coming. It is sad to say that heavy opposition and intense fire could not keep the Democratic controlled house from passing the long debated health care reform measure. We should see the passing of the controversial HEALTH BILL as the proverbial line in the sand for the people of America. The bill will cost U.S. tax payers an additional $1.2 TRILLION if we see it passed into law. I don’t know if they are aware of it, but could someone wake up the Democrats in the house and let them know that we are in a RECESSION. If passed, this plan is going to eliminate thousands of jobs, as large insurance companies attempt to meet the stringent guidelines of the new bill.

House Representative Candice Miller, Republican of Michigan, responded to the bills passing with this statement, “We are going to have a complete government takeover of our health care system faster than you can say, `this is making me sick.”

This bill is going to make a lot of waves in America, by not only allowing the Federal government to regulate the health insurance marketplace, but provisioning the government to sell insurance policies of its own. Opponents of the bill, who have seen the numbers, say that currently the government funded insurance premiums are higher than any other premium on the market.

If this was not a political force feed, then I don’t know what is. We were told that America was going to have Health Care Reform. We shouted against it from all corners of the U.S.. Representatives were driven out of town halls across the America over it and still the measure passes against the will of the people. The way it looks, if the Democrats have their say, we are going to get it. Which is a travesty that should not go unremembered come election day. We are in the middle of the biggest economic crisis the world has ever seen and our government’s only solution is to reform health care. This measure will do nothing for the world unemployment crisis. This measure will not solve the liquidity problem in the American dollar. This measure will not add money to an already struggling system. This measure will do nothing to lower the national deficit. Then what will it do?

It will give the government a definate window of provision in the lives of its citizens. It will definately give the government control of something that everyone needs and it will cost the tax payers trillions, so you have to ask yourself how sound the motives are behind the bill.

The only positive is that the bill will give no federal funding for abortions, in accordance with the Stupak/Pitts Amendment, through the plan. Health Care reform may be coming whether we like it or not, but we need to remember these careless acts of force in the name of democracy when the elections roll around. Now with President Obama pushing to get this legislation passed, the bill has a good chance of being pushed into action very soon. Let us pray for the President, the Democratic house and our Senate, that they will use wisdom and discretion in their future legislation for this nation.

Our Community Welcomes Cautious Reaction

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Here at 321kaboom.net we believe in supplying our community with the most up to date conservative views available. To do this we often like to utilize our public. We would like to take this opportunity to welcome our newest contributor Cautious Reaction. If you feel that you have something to offer in the way of conservative news please feel free to contact the moderator by e-mailing our moderator, with a brief explanation of yourself and any previous conservative posts that you have written. Once again congratulations Cautious Reaction we look forward to your contribution to the community.

Best Wishes,
Moderator 321kaboom.net

Taxpayer money buying cell phones?

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I could hardly believe this myself, but the rumors are true. The government will supply low income individuals who qualify for the program one free cell phone and up to 70 minutes per month through a government supported program called SafeLink. What in the world are we coming to? Millions of taxpayers, who can barely afford to pay for their own cell phone bills, are buying free cell phones for others. How does this happen and get barely any notice from mainstream media? I did a little digging and found the following guidelines for the program:

How to Qualify
The process to qualify for Lifeline Service depends on the State you live in. In general, you may qualify if…

1.You already participate in other State or Federal assistance program such as Federal Public Housing Assistance, Food Stamps and Medicaid.
OR
2.Your total household income is at or below 135% of the poverty guidelines set by your State and/or the Federal Government.
AND
3.No one in your household currently receives Lifeline Service through another phone carrier.
4.You have a valid United States Postal Address. In order for us to ship you your free phone you must live at a residence that can receive mail from the US Post Office. Sorry, but P.O. Boxes cannot be accepted.
In addition to meeting the guidelines above you will also be required to provide proof of your participation in an assistance program, or proof of your income level.

Currently the program is only available in 18 of the 50 states, but is most likely coming your way soon. Sounds to me like we are gearing up for the next election cycle early, keep the people pacified with new gadgets and make sure that they can get receive political texts when the elections roll around. Don’t be surprised if millions of SafeLink phone owners find a “Don’t forget to vote for Obama.” reminder on their new political Obama Phones.

If you wish to see for yourself, you can visit their site at: https://www.safelinkwireless.com/EnrollmentPublic/home.aspx

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