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Fair Way Funding

Congressman McGovern to GOP: Let's be 'fair and balanced' in media funding

Congressman Jim McGovern(MA-3) says on the floor that defunding NPR because the content isn't agreeable is a 'lousy' way to make ...

House District 94 candidates spar on infrastructure funding, criminal justice reform, redistricting

Mmoderators Megan Braden-Perry and Tim Morris asked the candidates how they would make sure the metro area gets its share of infrastructure funds.

Williamson started off saying, “I would like to get appointed to the Ways and Means Committee. That comes with infrastructure dollars for our community. I firmly believe we need to have leadership step up to secure those funds for our city.”

He then took a swipe at Hilferty, saying: “The incumbent ran on streets and crime, and I ask you, are your streets any better? We need to start holding her accountable.”

Hilferty responded by discussing the Fair Share bills, a city initiative that passed with the help of the New Orleans delegation in Baton Rouge. The bills direct more tourism dollars to fixing the city’s roads, sewerage and drainage systems. Fair Share is estimated to provide, Hilferty said, about $26 million annually in recurring maintenance funds in addition to $49 million of one-time funding for repairs.

PERS funding ratio drops even though stocks are booming

Mississippi’s defined benefit pension fund, the Public Employees' Retirement System of Mississippi (PERS), needs serious reform if it is to be the robust and financially stable system its retirees and current employees are counting on.

PERS’ funding ratio — which is defined as the share of future obligations covered by current assets — warrants serious concern by its beneficiaries both current and especially future beneficiaries yet to retire.

PERS has benefitted greatly from the bull market in stocks that ran from 2009 to 2019, but that record run in stocks has not improved the funding ratio of the PERS portfolio in a meaningful way.

On June 30, 2009 in the early days of the bull market, the PERS funding ratio was 67 percent. Nine years later on June 30, 2018, the funding ratio had dropped to 62 percent even as the Dow Jones Industrial rocketed from 8500 to 24,200.

A key reason PERS is struggling despite above-average stock market returns is its 3 percent cost of living allowance (COLA) that is one of the most generous in the country. A COLA is designed to allow retirees’ purchasing power to remain the same despite inflation. 

In what way do you think the Fed is being fair / unfair re:AIG 'emergency funding'?

Fair, not unfair
Had they not stepped in to prop up AIG there would have been devastating negative consequences in the international capital markets. AIG insured many mortgages which are in default.

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