Q: I am a business owner in the District of Columbia. Where can I go to receive assistance in participating in the subsidized employment program under the ARRA and TANF programs before the Sept 30 deadline?

Submitted by Princess Mhoon Coope from District of Columbia

A: I believe this is the place let me know if not... District of Columbia Deborah A. Carroll Administrator Income Maintenance Administration, Department of Human Services 645 H. Street, NE 5th Floor, Suite 5000 Washington DC, 20002 (202) 698-3900

Answered 08/13/10 13:56:35 by Kevin Hall and Tony Pugh

Q: is most of this financial disaster due to our (the little people) getting credit starting back in the 80's or so and not getting pay raises?

Submitted by ann hapney from reedy, wv

A: Not sure that's the cause, but certainly income growth has lagged and financial market "innovation" has expanded the access to credit for ordinary Americans. Unfortunately that expansion shifted into high gear when regulation lapsed and the creative teaser rate adjustable-rate mortgages and all those sort of creative loans exploded. We are all paying the price for the indiscipline of lenders. Some choose to blame the borrowers, and I am sure there was abuse, but at the end of the day the lenders were the ones with the money to lend looked past glaring problems.

Answered 07/21/10 18:42:07 by Kevin Hall and Tony Pugh

Q: Why haven't white collar criminals been jailed? Why do off shore accounts still exist? Why aren't USA corporations paying their fair share of taxes? Why is my single mother sister being thrown out of her home?

Submitted by christopher dore from barcelona, spain

A: In the context of the financial crisis, precious few white collar criminals have been jailed and the FBI is going after the low hanging fruit of misrepresentation in the mortgage application process. US corporations argue they are paying too much already and the battle is nearing for broad tax changes for corporations and citizens. As for single-mother sister, I am guessing she is in foreclosure? Personally working with borrowers who are trying to modify their loans, I can tell you the process is awful, the servicers/lenders are for the most part not playing straight and there are a wide variety of reasons why a modification may not have been offered her. If my assumptions are correct, sadly she is among millions in her unfortunate situation.

Answered 07/21/10 18:39:44 by Kevin Hall and Tony Pugh

Q: When if ever will jobs reappear ? When will unemployment extension be passed,signed into law,finally will U.C. benefits be retroactive?

Submitted by Bob Burrow from Beloit,Wi.

A: The extension passed the Senate and is on its way to the people soon

Answered 07/21/10 18:36:30 by Kevin Hall and Tony Pugh

Q: Any new word obout a tier 5 extension?

Submitted by Rick Bates from York, SC

A: The extension passed the Senate and is on its way to the people who need it soon

Answered 07/21/10 18:36:11 by Kevin Hall and Tony Pugh

Q: what are the changes of us unempoyed people getting help again?it hard to find a job when noone is hiring.is the extenions going to pass?

Submitted by d.lutts from toledo ohio

A: The extension passed the Senate and is on its way to the people soon

Answered 07/21/10 18:35:55 by Kevin Hall and Tony Pugh

Q: Did the U.S. Senators from Kansas, Missouri, and Oklahoma all vote against extension of unemployment benefits?

Submitted by Gene Garman from Pittsburg, KS

A: This answer from David Goldstein, the regional correspondent who follows those states: The three Repubs from the region – Kit Bond of Mo. and Sam Brownback and Pat Roberts of Ks. all voted against cloture, which killed the extension, and the only Dem – Claire McCaskill of Mo., voted for it.

Answered 06/28/10 12:02:53 by Kevin Hall and Tony Pugh

Q: The article "Obama's anti-homeless..." cited families in homeless shelters jumped 7 percent from 2008-2009. What is the source for this statistic, and, do you have more?

Submitted by Konnie Waters from Denver, CO

A: Here is the answer from Tony Pugh, the author.... The source for the information is HUD’S 2009 Annual Homeless Assessment Report to Congress. Here’s the link http://bit.ly/cZYd6B

Answered 06/24/10 17:14:20 by Kevin Hall and Tony Pugh

Q: Is there any hope of 99ers to get anymore help on unemployment benefits

Submitted by vickie bailey from macon ga

A: It remains under debate in Congress, the feeling is it will happen soon, hopefully in days but by month's end.

Answered 06/22/10 15:32:35 by Kevin Hall and Tony Pugh

Q: I still cannot find a job. Is there any chance of a tier 5 or extended benefits? What are we to do?

Submitted by vickie bailey from macon ga

A: I believe that has already been passed by the House and remains hung up in the Senate but should see action soon. The weak job numbers for May has bolstered chances of another extension...

Answered 06/11/10 11:39:26 by Kevin Hall and Tony Pugh

Q: Is Nationwide Relief Center out of Westminster, California a reputable Company. The addrees I have is: 14541 Brookhurst St. Suite D4 Westminister, California

Submitted by William Corkish from Lady Lake, Florida

A: Didnt see anything online about them, that in itself might raise questions. There is a National Tax Relief Center in California, which charges to help solve problems with the IRS, is that what you were referring to?

Answered 06/11/10 11:37:16 by Kevin Hall and Tony Pugh

Q: how supply and remand play in economy?

Submitted by Y C M from Cambodia

A: The two play off each other. If demand rises in an economy, supplies run short and prices rise. If demand falls, there is an excess in supply and prices fall. Think of a sport event or concert that's been sold out, tickets are scalped outside for considerably more than the face value of the ticket. When there is no interest in the game or concert, sellers are outside trying to recoup whatever they can for the ticket, selling for less that face value.

Answered 06/11/10 11:34:20 by Kevin Hall and Tony Pugh

Q: Describe the economic features that might exist when a country 'experience a boom'

Submitted by Dimitra from Penang

A: The biggest sign of a boom is inflation, the economy heats up and the demand for goods and services rises so fast that prices rise across the economy, central banks generally step in and raise interest rates to slow this economic activity. Booms often lead to bubbles too, as investors pour in chasing past returns, whether it is home prices, tech stocks or tulips centuries ago.

Answered 06/11/10 11:31:45 by Kevin Hall and Tony Pugh

Q: Do you believe that the constant growth on which our economic system seems to be based can continue on this planet, with its limited space and natural resources? If you see a problem with unlimited growth scenarios, are you aware of the Center for the Advancement of the Steady State Economy? Information is available at steadystate.org. I will be very interested to hear if economic writers such as yourselves are aware of CASSE. Thank you!

Submitted by Carla from Cleveland, OH

A: Not aware of CASSE per se but aware of the issue of limited resources on a planet with soaring population. It's the great irony of prosperity, the better science is, the higher standard of living etc fuel population growth and resource depletion and it is definitely an area to watch. Clearly the climate debate is just one subset of this question, but there is water rights issue, and think about the need from oil 20 years from now when developing nations are much more developed. There are many angles to this problem.

Answered 06/11/10 11:29:02 by Kevin Hall and Tony Pugh

Q: Didn't McClatchy run an article a few years ago on inside vs. outside mortgage fraud concluding that the majority of mortgage fraud was committed by insiders? I distinctly remember such an article, but can't find it through your search function. If not, what's your take on this issue?

Submitted by Ariel from Tampa, FL

A: I wrote a number of stories on mortgage brokers who worked with non-bank lenders to move volumes that amounted to fraud by neglect. If you are talking about insiders, it could be brokers or are you referring to individual borrowers. The FBI has focused on borrowers who bilked banks, and there were a number of those too. There were a lot of people who lied about their income and a larger number who simply went along as the mortgage broker said dont worry about it, everyone does it. The mortgage generation process was just rotten from whatever angle you look at it, inflated appraisals, threats of lost business if an appraises messes up a deal, the incentives were to do the wrong thing at virtually every step of the way. It was no surprise that it all came crashing down.

Answered 06/11/10 11:26:35 by Kevin Hall and Tony Pugh

Q: Could you please provide me with a list of potential commercial real estate co. defaults that within 6months to a year that have a very good chance of defaulting?

Submitted by Jim from Buffalo,NY

A: I dont have a list per se but if you search online for reputable reports on commercial real estate, Moody's has them etc.. they dont really say who is at risk until there has been a default. The best I can do is to say that as the economy comes back hotel loans and conference centers etc will bounce back, it will take longer for office and retail space as vacacanies are up and property prices down, depressing both of those areas

Answered 06/11/10 11:23:19 by Kevin Hall and Tony Pugh

Q: Why are the American people being blamed for a trillion dollar war , Why are we bailing out banks and wall street? Why have the American people lost their american dreams of life, liberty and happiness. There are tons of homeless not just adults but also children with no hope in site. Home many people put everything into lost their american dream of home owner ship and kids to give the american dream to, send to college, and what happened with health care. The old has lost alot and the young and children have none. What happened? What happened greed. I believe any human given major power , can not handle it. Only few I have read about. 6 billion people, very low number. One other question, what is this 26 page health reform? Can we all get a copy? Also please remember we can only help the United states of american. We have no more to give. Thank you

Submitted by christa from ann arbor, michigan

A: Not sure how to answer so will just publish as is... best of luck

Answered 06/11/10 11:21:24 by Kevin Hall and Tony Pugh

Q: One of the real hot button issues relates to the vote down of the usury amendment. States will not be able to cap rates. This is a huge story because it gives people a reason to strategically default on their credit card debt. This is because the state is abdicating a moral control against the credit card companies. This results in default being a mere business decision and a protest against unreasonable rates for which government gives no relief. Why wouldn't McClatchy inform readers about this story? It is almost as if this story is censored.

Submitted by Gary Anderson from Reno, NV

A: No it is not censored, there are a limited amount of hours in the day and like every other organization we are doing more with less. Just can't get to everything, your point is a good one and we'll try to take another look at it.

Answered 05/24/10 12:24:40 by Kevin Hall and Tony Pugh

Q: When a homeowner makes a payment on their mortgage, how does that money get allocated to all the investors in the CDO and the CDS. The reason I am asking, because they say that the cdos are too difficult to unravel, but if payments are being allocated, someone knows who the investors are.

Submitted by Michele Dushkin from Springfield NJ

A: Indeed they know who the investors are, and the investors in the CDO have payment history and FICO score information of every loan in every zip code involved in the CDO... the incoming mortgage payment goes into a pool that is then distributed to investors at differing amounts depending on the risk they were willing to assume. Most complex securities involved what they called waterfalls, or different steps of risk. By mixing top investment grade rated loans with riskier loans the idea was to create higher returns within an instrument that mixed risky with less risky to ensure overall payment success. It sounds good in theory, but didnt work so well once home prices rolled backwards.

Answered 05/24/10 12:22:53 by Kevin Hall and Tony Pugh

Q: Would either the Senate or House bill regulating banks eliminate or greatly modify the the practice of the Fed to make interest-free loans to banks? If this isn't done, I don't know how the American people can trust any of our "leaders."

Submitted by george bousliman from helena, montana

A: Not sure exactly what you are referring to. The Fed operates a discount window, which allows large institutions to borrow, but actually a rate higher than the fed funds rate, which is what banks charge each other. The Fed funds rate is now at a range between 0 and .25 percent, which is pretty close to a low interest low, the prime rate that banks charge their best customers is set at 3 percentage points higher normally. Many financial institutions fund themselves with overnight lending, which is fine when markets function normally but with today's uncertainty it is what led many to fail since lending froze up or took place at punishingly high rates. That's where the Fed stepped in and boosted short-term lending to break the credit crunch. The money was paid back and with interest, contrary to the popular view that banks were given free money.

Answered 05/24/10 12:19:05 by Kevin Hall and Tony Pugh