Did Subprime Loans Cause the Financial Crisis?

 Over the last two years, we have seen absolute turmoil in the economies of every country in the world.  It all started in the United States when the subprime mortgage crisis was kicked off in late 2007.  The financial books of Bears Sterns illustrated just how bad the banking and financial industry was in the United States.  Almost every major bank and financial institution had some exposure to the subprime market and it was going to cause havoc throughout the work.  Little did many of us realize that almost every single American bank would lose over 80% of their stock value in the next two years after April of 2008.
The reason that the financial books of Bear Sterns and many other financial institutions feel apart is because of subprime loans.  Some of the financial institutions that feel apart did not have direct exposure to the subprime mortgage industry but they were effected in some way or another.  Over 340 banks and institutions have failed since the beginning of the financial crisis and it is very likely that we will see many more to come.
Is it possible that this all started because of subprime loans?  Well, in more words or less, yes.  When hundreds of thousands of subprime loans were given out to American citizens who could not pay them, this was the first sign of an economic disaster.  If you make $50,000 a year, you don't need a loan for FIVE times that amount!  There is no way you are going to be able to pay it off unless you get a huge increase in salary in the next few months.
Subprime loans will never be claimed as the ONLY reason for the financial crisis, but they are definitely what started the economic disaster we are currently in.

To learn more about subprime loans [http://www.subprimeblogger.com/] make sure to check out Subprime Blogger. We will keep you up to date on the current financial crisis and what you can do to survive the economic turmoil.
Subprime mortgages [http://www.subprimeblogger.com/] are financial issues that are haunting many Americans at this time but don't become someone in this situation. Keep yourself education and up to date on all mortgage news and information.

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Campione D'Italia - The Italian Tax Haven in Switzerland

With all the fuss going on about Swiss banking right now, many people might have overlooked the fact that you can simply move to Switzerland and live virtually tax-free, legally, and without being subject to notoriously strict Swiss immigration controls. How? Through the Italian tax haven enclave of Campione d'Italia - a little part of Italy, with some very special personal tax concessions, that functions like a part of Swiss territory.
"So Campione is an interesting option for anyone who wants a tax haven residence, but doesn't want to spend the twenty times more that Monaco would cost... It is similar to Andorra taxwise, but warmer, and more conveniently located. It is a short drive to Austria, Liechtenstein, Germany or France," says a veteran resident of Campione we interviewed for this article, a retired lawyer who has practised in both the USA and Switzerland.
"For a non-Italian who lives in Campione, the income tax is essentially, ZERO. There is no property tax if property is held in personal name. There is a very low property tax otherwise."
It is therefore well worth considring Campione residence if you are attracted by the relatively mild climate of the Lake Lugano area of Switzerland, jokingly referred to by locals as 'Switzerland's Banana Belt.'
Residents of Campione benefit from super efficient Swiss postal and phone service, as well Swiss health coverage and Swiss broadband internet. You also get Swiss license plates for your car, but you avoid the disadvantages of Swiss taxes and the lengendary Swiss military service duties.
Campione d'Italia is a small Italian commune of 1.7 square kilometres located entirely within Switzerland, on the eastern shore of Lake Lugano at the foot of a beautiful mountain. There are approximately 3,000 inhabitants, about 1,000 of them foreigners. The official currency is the Swiss Franc, but the Euro is accepted as well. All banking is done through Swiss banks. A famous Casino generates substantial revenue, which is one of the reasons why the residents of Campione enjoy some very special tax concessions.
Campione's tax advantages only apply to private persons resident in Campione, and not to companies domiciled or managed from there (except that there is no VAT in Campione, which is naturally is a big advantage for companies).
How can you obtain a residence permit in Campione? You must normally buy an apartment or a house - simply because there is very rarely the opportunity to rent. Once in a while, a good luxury rental deal comes up.

The above article is based on a blog entry originally written by Peter Macfarlane for Q Wealth Report, of which he is joint editor. You can read the original article here about Campione the Swiss Tax Haven.
Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don't have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. Visit The Q Wealth Report.

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Online Voting - Pros and Cons

Weigh the pros and cons, and then you decide if voting should be online.
Pros:
1. Accessibility- Vote from home, schools, libraries. No excuses why you couldn't vote because of the weather, time of day, or other reasons.
2. Secure- Americans bank, re-new vehicle registration, fill out Federal and local tax forms, apply for student loans, and shop online. There is online stock trading, and social networking. Today's encryption software is more secure than voting machines.
3. No interference with any candidate influences or tampering with votes around the polling centers.
4. Voters' participation- Voting would increase dramatically because of convenience.
5. Large savings for communities- Staffing voting booths, supplying expensive machines, and using security around polling booths can be another drain on a local economy.
6. Eliminate using schools, and firehouses as polling locations. This can be disrupting to their schedules.
7. Eliminate waiting- Long lines, during Presidential elections, turn some voters away.
8. Consistent voting- Local and state elections will have good turnouts, where previously the non-presidential election turnouts were low.
9. Votes would be tallied in "real time". We would not have to wait hours for the votes to come in from various states.
10. Americans could vote from anywhere in the world via computer. No more paper absentee ballots.
11. No more absentee ballots from senior citizens who are unable to travel to polling booths. They could vote from home, or use a relative's laptop in a hospital or nursing home.
12. Voting methods are not standardized across the nation, and this creates distrust for the voting process, so many people just don't vote. Remember the 2000 election?
13. Many Americans are apathetic about voting because they think that their vote doesn't matter. Younger Americans were weaned on computers, so voting online would seem natural for them and they are more likely to vote.
14. Americans have become more trusting using computers for their daily tasks, as are companies and entrepreneurs who do business online.
15. Internet voting systems have gained popularity and have been used for government elections and referendums in the United Kingdom, Austria, Estonia, France, Japan and Switzerland as well as municipal elections in Canada. Voters are given a user ID and password.
Cons:
1. Voting online would upset the local polling booth committees, and voting machine companies.
2. Americans, who don't use computers, will need technical support and access to local libraries' computers and distrust putting personal information on a computer.
There are more positives than negatives. Doesn't it make sense to vote online? If we trust our computers for banking, register our vehicles and purchase online, complete our taxes with personal information, complete student loan applications, then we should be able to trust a program allowing us to vote online. We are free to pursue our unalienable rights assigned to us by our Constitution. Should we contact our local and State Representatives and Senators to bring this issue to Congress for future referendum on the ballot? Should we vote online or not?
Get out and vote in our next election, and support our candidates in the voting method we have. Someday, we may be able to vote online. To keep America a democracy, we must vote... regardless of the means.

Mary D. Bogin is a 30 year veteran teacher. She and her husband are outdoor enthusiasts who believe that nature and historical sites should be preserved. They believe in a "green" society. Visit http://www.mdbogin.wordpress.com for more stories about the environment and life.

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