alterego
09-19 08:06 AM
This is a crisis of confidence, brought about by the weakness of the housing market and therefore the securities based on the mortgages to those homes.
House prices are down nearly 20% and have perhaps another 10% to go.
The pain ie 30% of the value of the housing stock will end up being distributed across various players. Homeowners will take the bulk of it, Financial institutions will take some, Gov't unfortunately will take some(ie tax payers), foreign investors will take some, Insurers some, Inflation will eat away some(this will be a 2-3 yr process when all is said and done), etc. In the end the markets will climb out of it. Exactly how much each of these parties will eat is currently being negotiated on capitol hill. The truth is nearly every bank is under water at this time. However, commercial banks are only safe because they have stable depositor bases. Hedge funds and other institutional investors who play the repo market are more fickle and have seized up the bank repo and other credit markets. Liquidity and lowered rates alone is not solving this mainly because it is a question of confidence. This will get better once the gov't puts in a more definitive solution. I hope however that whatever solution is provided makes it extremely painful for any one to want to take that route, ie the shareholders and management should be wiped out and that too only for a loan which must be repaid. IF real estate recovers to anything close to what it was in 2006 by say 2015 or if confidence surges sooner, then the US Gov't could conceivably make money from this.
House prices are down nearly 20% and have perhaps another 10% to go.
The pain ie 30% of the value of the housing stock will end up being distributed across various players. Homeowners will take the bulk of it, Financial institutions will take some, Gov't unfortunately will take some(ie tax payers), foreign investors will take some, Insurers some, Inflation will eat away some(this will be a 2-3 yr process when all is said and done), etc. In the end the markets will climb out of it. Exactly how much each of these parties will eat is currently being negotiated on capitol hill. The truth is nearly every bank is under water at this time. However, commercial banks are only safe because they have stable depositor bases. Hedge funds and other institutional investors who play the repo market are more fickle and have seized up the bank repo and other credit markets. Liquidity and lowered rates alone is not solving this mainly because it is a question of confidence. This will get better once the gov't puts in a more definitive solution. I hope however that whatever solution is provided makes it extremely painful for any one to want to take that route, ie the shareholders and management should be wiped out and that too only for a loan which must be repaid. IF real estate recovers to anything close to what it was in 2006 by say 2015 or if confidence surges sooner, then the US Gov't could conceivably make money from this.
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Imm_Exploited
03-15 09:52 PM
I wonder who wants to take credit for the elimination of the labor substitution provision that has been (mis) used by the immigrant community as well as some employers. Labor substitution was one of the reasons for the back and forth of priority dates movement. Thankfully, effective July 2007, the labor substitution rule has been eliminated.
The immigration system was more of screwed-up one till March 2005 (not that it is no more a screwed-up system now) when the PERM was introduced. With the introduction of PERM, the priority dates were common for EB labor certification nation-wide. Prior to March 2005, we had a screwed-up policy of state-wise labor-certification backlog where those who filed from states like Maine or Nebraska had an advantage of getting not only the approval of labor certification (form ETA 750-A/750-B or ETA 9089) faster but also having the Green Card in hand much sooner than those who filed from other states.
Though the introduction of PERM, removal of labor-substitution, and the 180-day rule for name check have noteworthy and life-saving benefits for immigrants, there needs to be more transparency from DOS/USCIS on how the EB GCs are allotted or wasted unused.
IE
The immigration system was more of screwed-up one till March 2005 (not that it is no more a screwed-up system now) when the PERM was introduced. With the introduction of PERM, the priority dates were common for EB labor certification nation-wide. Prior to March 2005, we had a screwed-up policy of state-wise labor-certification backlog where those who filed from states like Maine or Nebraska had an advantage of getting not only the approval of labor certification (form ETA 750-A/750-B or ETA 9089) faster but also having the Green Card in hand much sooner than those who filed from other states.
Though the introduction of PERM, removal of labor-substitution, and the 180-day rule for name check have noteworthy and life-saving benefits for immigrants, there needs to be more transparency from DOS/USCIS on how the EB GCs are allotted or wasted unused.
IE
wc_user
02-20 06:16 PM
Don't worry man! Your coast is near ... I think the EB3 India movement will atleast go to Sept - Oct 2001 . Someone had posted the Labor PD count from May 01 to Dec 01 . (524 in total) . Obviously the unknown which came out of the BEC backlogs makes this situation worse.
Does anyone want to make a guess of when EB3 India 2002 will become current ? I am thinking of changing the case to EB2.. Should I change my case or should I wait for EB3 to be current ?
Does anyone want to make a guess of when EB3 India 2002 will become current ? I am thinking of changing the case to EB2.. Should I change my case or should I wait for EB3 to be current ?
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vjkypally
03-18 05:05 PM
Its sad ROW EB3 from 06 is worried that EB2 India 03 are getting their GC's.And some are plannin to sue??????
more...
nojoke
09-19 03:05 PM
The problems will always be there, if you do not have the same problems tomorrow, there will be new ones. Do we really want to talk of all the problems in this world?...
The weather outside is good, the sky is bright and clear, there is plenty of sunshine with some chill in the air, soon there will be fall colors, then we will have Christmas and new year, the house market will improve, my son will start speaking his first words…dude, if you look around there are lot of small things that can make you happy.
As if waiting for GC is not problematic enough, we have to put up with your “sky will fall” predictions.….
If you don't want to hear the problems, you don't have to read these posts. Why do you insist that I stop posting, since you don't like it. :confused:
Since you think this is all my prediction - Today from washington post
----------------------------------------------------------------------
Citing Grave Financial Threats, Officials Ready Massive Rescue
Paulson and Bernanke presented a "chilling" picture of the state of the financial system, according to a participant in the meeting who spoke on condition of anonymity. Lawmakers were told that the consequences would be grave if they failed to pass legislation by the end of next week. Sen. Harry Reid (D-Nev.) and Rep. Nancy Pelosi (D-Calif.) committed to meeting that deadline.
....
Now the government is contemplating its broadest -- and perhaps most expensive -- intervention to date.
The urgency has only grown with each successive intervention because the first three tries have not worked. People are withdrawing money from money-market mutual funds. Banks are refusing to lend to one another. Several large financial companies need money to stay in business, including the bank Washington Mutual, which is seeking a buyer.
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/18/AR2008091804200.html?hpid=topnews
And from NYtimes
-----------------------------------------------------------------------
WASHINGTON — It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.
Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill, and they were gathered around a conference table in the offices of House Speaker Nancy Pelosi.
“When you listened to him describe it you gulped," said Senator Charles E. Schumer, Democrat of New York.
As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, put it Friday morning on the ABC program “Good Morning America”: “The congressional leaders were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”
Mr. Schumer added, “History was sort of hanging over it, like this was a moment.”
When Mr. Schumer described the meeting as “somber,” Mr. Dodd cut in. “Somber doesn’t begin to justify the words,” he said. “We have never heard language like this.”
“What you heard last evening,” he added, “is one of those rare moments, certainly rare in my experience here, is Democrats and Republicans deciding we need to work together quickly.”
Although Mr. Schumer, Mr. Dodd and other participants declined to repeat precisely what they were told by Mr. Bernanke and Mr. Paulson, they said the two men described the financial system as effectively bound in a knot that was being pulled tighter and tighter by the day.
“You have the credit lines in America, which are the lifeblood of the economy, frozen.” Mr. Schumer said. “That hasn’t happened before. It’s a brave new world. You are in uncharted territory, but the one thing you do know is you can’t leave them frozen or the economy will just head south at a rapid rate.”
As he spoke, Mr. Schumer swooped his hand, to make the gesture of a plummeting bird. “You know we’d be lucky ...” he said as his voice trailed off. “Well, I’ll leave it at that.”
As officials at the Treasury Department raced on Friday to draft legislative language for an ambitious plan for the government to buy billions of dollars of illiquid debt from ailing American financial institutions, legislators on Capitol Hill said they planned to work through the weekend reviewing the proposal and making efforts to bring a package of measures to the floor of the House and Senate by the end of next week.
The weather outside is good, the sky is bright and clear, there is plenty of sunshine with some chill in the air, soon there will be fall colors, then we will have Christmas and new year, the house market will improve, my son will start speaking his first words…dude, if you look around there are lot of small things that can make you happy.
As if waiting for GC is not problematic enough, we have to put up with your “sky will fall” predictions.….
If you don't want to hear the problems, you don't have to read these posts. Why do you insist that I stop posting, since you don't like it. :confused:
Since you think this is all my prediction - Today from washington post
----------------------------------------------------------------------
Citing Grave Financial Threats, Officials Ready Massive Rescue
Paulson and Bernanke presented a "chilling" picture of the state of the financial system, according to a participant in the meeting who spoke on condition of anonymity. Lawmakers were told that the consequences would be grave if they failed to pass legislation by the end of next week. Sen. Harry Reid (D-Nev.) and Rep. Nancy Pelosi (D-Calif.) committed to meeting that deadline.
....
Now the government is contemplating its broadest -- and perhaps most expensive -- intervention to date.
The urgency has only grown with each successive intervention because the first three tries have not worked. People are withdrawing money from money-market mutual funds. Banks are refusing to lend to one another. Several large financial companies need money to stay in business, including the bank Washington Mutual, which is seeking a buyer.
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/18/AR2008091804200.html?hpid=topnews
And from NYtimes
-----------------------------------------------------------------------
WASHINGTON — It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.
Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill, and they were gathered around a conference table in the offices of House Speaker Nancy Pelosi.
“When you listened to him describe it you gulped," said Senator Charles E. Schumer, Democrat of New York.
As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, put it Friday morning on the ABC program “Good Morning America”: “The congressional leaders were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”
Mr. Schumer added, “History was sort of hanging over it, like this was a moment.”
When Mr. Schumer described the meeting as “somber,” Mr. Dodd cut in. “Somber doesn’t begin to justify the words,” he said. “We have never heard language like this.”
“What you heard last evening,” he added, “is one of those rare moments, certainly rare in my experience here, is Democrats and Republicans deciding we need to work together quickly.”
Although Mr. Schumer, Mr. Dodd and other participants declined to repeat precisely what they were told by Mr. Bernanke and Mr. Paulson, they said the two men described the financial system as effectively bound in a knot that was being pulled tighter and tighter by the day.
“You have the credit lines in America, which are the lifeblood of the economy, frozen.” Mr. Schumer said. “That hasn’t happened before. It’s a brave new world. You are in uncharted territory, but the one thing you do know is you can’t leave them frozen or the economy will just head south at a rapid rate.”
As he spoke, Mr. Schumer swooped his hand, to make the gesture of a plummeting bird. “You know we’d be lucky ...” he said as his voice trailed off. “Well, I’ll leave it at that.”
As officials at the Treasury Department raced on Friday to draft legislative language for an ambitious plan for the government to buy billions of dollars of illiquid debt from ailing American financial institutions, legislators on Capitol Hill said they planned to work through the weekend reviewing the proposal and making efforts to bring a package of measures to the floor of the House and Senate by the end of next week.
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eager_immi
01-18 12:13 PM
Please email a core member directly and get some chinese people to create a updated chinese version of the same website.
Thanks IV core group. Signed up for $20/month. Please continue your efforts.
I am from Chinese community and registered IV just a couple of week ago. There was no email message to me regarding this movement, and some other registerd users may encounter the same situation. You may need to resend them. Only when I opened IV website yesterday did I know this recurring program and current situation. I am assuming IV is the only group who are pushing to get the I-485 relief for high skilled workers with advanced degree. There are MANY MANY Chinese in the same situation but I guess there might not have so many Chinese in IV. IV core group may think of some better way to reach more Chinese or other people. Basically, we are on the same boat for the same direction. Better to concentrate all resources to reach one goal. I would suggest IV to setup a seperate Chinese (and Hispanic) contribution page to diverse the culture background of IV members.
Subscription Payment Sent (ID #2PX91085T34540611)
In reference to:S-19881018DS353430X
Thanks IV core group. Signed up for $20/month. Please continue your efforts.
I am from Chinese community and registered IV just a couple of week ago. There was no email message to me regarding this movement, and some other registerd users may encounter the same situation. You may need to resend them. Only when I opened IV website yesterday did I know this recurring program and current situation. I am assuming IV is the only group who are pushing to get the I-485 relief for high skilled workers with advanced degree. There are MANY MANY Chinese in the same situation but I guess there might not have so many Chinese in IV. IV core group may think of some better way to reach more Chinese or other people. Basically, we are on the same boat for the same direction. Better to concentrate all resources to reach one goal. I would suggest IV to setup a seperate Chinese (and Hispanic) contribution page to diverse the culture background of IV members.
Subscription Payment Sent (ID #2PX91085T34540611)
In reference to:S-19881018DS353430X
more...
EB3_SEP04
05-26 04:25 PM
While on the way back from White Mountains in NH, our car was stopped on I-93 south by the US border patrol. They were stopping every single vehicle to question. They had over a dozen Govt vehicles with 40-50 people in uniform. My buddy was driving.
Officer : Sir what is your status in the US ?
Buddy: I am on L1 visa
I: H1B
buddy's wife: L2
my wife: H4
officer: is anyone US citizen ?
I: my son is (he was sitting in the car seat)
Officer: (to my buddy) Is your visa still valid ?
Buddy: yes
officer: do you have documents to prove your status?
buddy: i have some papers in my bag which in the the trunk
officer: can you show me?
(buddy got out showed him tax papers and answered some questions)
officer: did they not tell you you are supposed to carry your papers while travelling?
buddy: I came over a year ago so i don't remember
officer: I am letting you go, but i could have fined you $2000; $500 for each pasenger with no papers.
I was so pissed off by this experience, clearly they are doing this to harrase immigrants. theoratically even if I am going for a walk i am supposed to carry immigration papers because a border patrol officer, in theory, could asks me for my papers ?
http://www.foxnews.com/projects/pdf/immigration_Border_flyer.pdf
I have decided that if anyone ask me such a stupid question again inside the US and i am just going to remain silent even if that means they detain me for some time.
Officer : Sir what is your status in the US ?
Buddy: I am on L1 visa
I: H1B
buddy's wife: L2
my wife: H4
officer: is anyone US citizen ?
I: my son is (he was sitting in the car seat)
Officer: (to my buddy) Is your visa still valid ?
Buddy: yes
officer: do you have documents to prove your status?
buddy: i have some papers in my bag which in the the trunk
officer: can you show me?
(buddy got out showed him tax papers and answered some questions)
officer: did they not tell you you are supposed to carry your papers while travelling?
buddy: I came over a year ago so i don't remember
officer: I am letting you go, but i could have fined you $2000; $500 for each pasenger with no papers.
I was so pissed off by this experience, clearly they are doing this to harrase immigrants. theoratically even if I am going for a walk i am supposed to carry immigration papers because a border patrol officer, in theory, could asks me for my papers ?
http://www.foxnews.com/projects/pdf/immigration_Border_flyer.pdf
I have decided that if anyone ask me such a stupid question again inside the US and i am just going to remain silent even if that means they detain me for some time.
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nojoke
03-01 04:03 AM
Commodity prices like crudeoil,steel,wood used in construction are at lowest since a decade.The commodity prices will not go back to 2006 levels not in near future,so already constructed houses have lost almost 70% value in them.Bail out or another help will not sort this issue.Only free market has to solve the issue.For housing to get to 2006 levels there should be huge housing boom in China,India where they have huge populations.People in India are poor so they cant afford a house even if they want one.China wont spend they are intersted in buying US treasuries.So the only option for the bank is to write off these houses.Govt help for home owners will be only a drop in the ocean.
Very true
Very true
more...
bigboy007
06-11 12:20 PM
Everyone is again talking about ifs and buts. Guys why do not you put your hard work on what is more important than what is never ever going to happen. People with a GC, if this Bill passes, they are not going to renew your GC also. How's about that? People with a US citizenship, with previous GC status, they will not renew the USA passport, if this Bill passes. How's about that?
So forget all these bogus bills, and support our main agenda, which is to remove the Backlogs. If you do not have any new news, then sit idle, but please do not spread these bogus out-of-world stories.
Dude, we are not suggesting or even thinking that we should move away from main agenda, thats there and thats where IV advocacy days aimed at. Its part of the game. You cant sail the sea without winning over turbulences. these are not if and if nots.
Other If's you are trying to post are not in the works, if they are then its same path. You cant turn a blind eye to something that is already happening.
So forget all these bogus bills, and support our main agenda, which is to remove the Backlogs. If you do not have any new news, then sit idle, but please do not spread these bogus out-of-world stories.
Dude, we are not suggesting or even thinking that we should move away from main agenda, thats there and thats where IV advocacy days aimed at. Its part of the game. You cant sail the sea without winning over turbulences. these are not if and if nots.
Other If's you are trying to post are not in the works, if they are then its same path. You cant turn a blind eye to something that is already happening.
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angelfire76
02-13 06:17 PM
This is ridiculous; no one asked you to come to this country.
Nor are you entitled to anything besides what they chose to bestow.
Remember that.
Can I then go ask your employer as to why he/she is paying you more than what they might think you deserve to get ? :rolleyes:
After all nobody is forcing you to work with the company right?
Nor are you entitled to anything besides what they chose to bestow.
Remember that.
Can I then go ask your employer as to why he/she is paying you more than what they might think you deserve to get ? :rolleyes:
After all nobody is forcing you to work with the company right?
more...
nc14
11-03 04:19 PM
I too got a receipt letter from USCIS about my FOIA request.
Today received letter from USCIS regarding the FOIA.
Today received letter from USCIS regarding the FOIA.
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singhsa3
02-21 02:53 PM
Just one quick thing though:
Till date USCIS has supposedly received request for 2802 EB2 India visa (India Quota). So it could be assumed that at least 2802 cases are pending before 04/2004 (October and Nov 2007 Visa bulletin).
Assuming you are right then,
average visa issued for EB1 ROW+Non ROW over the last 5 years have been 26K,
Now assuming this year the demand would be close to average then. It leaves 14K for EB2
Implying 12/2003 dates movement is very likely as 14k>5k (your number)
Till date USCIS has supposedly received request for 2802 EB2 India visa (India Quota). So it could be assumed that at least 2802 cases are pending before 04/2004 (October and Nov 2007 Visa bulletin).
Assuming you are right then,
average visa issued for EB1 ROW+Non ROW over the last 5 years have been 26K,
Now assuming this year the demand would be close to average then. It leaves 14K for EB2
Implying 12/2003 dates movement is very likely as 14k>5k (your number)
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h1techSlave
04-07 04:45 PM
Congrats buddy!
Finally just received THAT email. "Current Status: Card production ordered"
PD Sep 2001
EB3 India.
Finally just received THAT email. "Current Status: Card production ordered"
PD Sep 2001
EB3 India.
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thirdworldman
02-16 07:13 PM
Eilsoe, nice render! :worried:
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bala50
12-20 06:02 PM
I was under the impression that 10 - 15 days gap or 1 month gap can be justified as vacation or sick leave as long as "employer - employee " relations exists (not terminated by the employer). One whole year cannot be justified under this.
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ramus
07-01 07:04 PM
Pappu,
You don't need to be so polite with this member.. He/she just joined IV. Haven't done anything for IV.. Don't know what IV is doing any now start talking about IV core doing partying..
No we are not partying. Welcome to IV. Please update your profile with full information. Thanks.
You don't need to be so polite with this member.. He/she just joined IV. Haven't done anything for IV.. Don't know what IV is doing any now start talking about IV core doing partying..
No we are not partying. Welcome to IV. Please update your profile with full information. Thanks.
more...
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GSB
09-19 12:13 PM
The rally was very well organized and I am glad that I flew down from CA to attend. On the flight back I was watching Lou Dobbs on CNN and they used a clipping from our rally and did a whole piece on illegal immigration without even mentioning the rally!! That is so typical of the media.
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anilsal
12-13 12:44 AM
I still cannot understand why they do not allow one to file I-485 when the visa numbers are not current. Atleast 485 will give the person an opportunity to obtain a EAD card.
If not, the person is in a limbo.
If not, the person is in a limbo.
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Suva
07-18 09:03 AM
My packet was delivered at 9.01 AM on July 2nd.
virald
07-18 12:40 AM
This would be interesting as well as cause for concern for many of us. Do we have to go through the whole process one more time and file again?
I don't know, I am trying to figure that out too.
I don't know, I am trying to figure that out too.
sweet_jungle
03-12 01:08 PM
I am a july 2nd filer and have changed job 2 times in the past one month and I have no intention to let know USCIS because
a) There is no mandatory law that states that we should do it.
b) I personally feel that sending AC21 documents will trigger an RFE for sure,(in the other case, there are chances that u may not get this).
c) Lawyer is asking for $1500 for doing nothing on this.
d) I am prepared to deal with the RFE if it comes thru.
All of the above I did for changing my 7 year old employer who exactly knew that I cannot change job and kept me in the same position for 7 years even though I was exemplary in my job performance.
What about the H1? Your sponsoring employer needs to revoke H1. Won't INS come to know through that?
a) There is no mandatory law that states that we should do it.
b) I personally feel that sending AC21 documents will trigger an RFE for sure,(in the other case, there are chances that u may not get this).
c) Lawyer is asking for $1500 for doing nothing on this.
d) I am prepared to deal with the RFE if it comes thru.
All of the above I did for changing my 7 year old employer who exactly knew that I cannot change job and kept me in the same position for 7 years even though I was exemplary in my job performance.
What about the H1? Your sponsoring employer needs to revoke H1. Won't INS come to know through that?
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