WILLIAM REED

(NNPA)—The sequester is but a bump on the road to America’s real ruin. For those who don’t know, the U.S. is no longer “the greatest nation.” Nor does it even make the list of the 10 most prosperous countries in the world.

Whether Black or White, middle to upper class, urban, rural or suburban, most Americans operate under the assumption that the U.S. still ranks as No. 1 in the world. Yes, the U.S. remains the world’s largest economy, and we have the largest military by far, the most dynamic technology companies and a highly entrepreneurial climate.

CHARLENE CROWELL

(NNPA)—President Obama recently nominated Melvin (Mel) Watt, a long-time North Carolina Congressman, to direct the Federal Housing Finance Agency. While major news media reported on the development, few mentioned exactly what the new job would entail or the significance of an African-American potentially leading a key financial office.

by Stella J. Adams

(NNPA)—Private-equity firms, hedge funds and other Wall Street investors are seeking to develop a Real Estate Owned (REO)– to- Rent Securitization Market with the blessing of the FED and FHFA.  A year ago, the Federal Reserve Board issued a policy statement on rental of REO owned by the banks they supervise and allowed the banks to rent REO properties without requiring them to demonstrate continuous efforts to market the properties.  Last fall, FHFA initiated a “pilot” REO bulk sale program in urban markets across the nation. This munificence by the federal regulators will change the course of America’s future and signals the abandonment of homeownership as a pathway to prosperity.

DAMON CARR

Ok, I’ll admit the title is somewhat exaggerated. My second choice was “I would never recommend a reverse mortgage to my grandmother.” I think you know where I’m going with this article. I’m not a fan of reverse mortgages. In fact, I despise them. Before I go into the details as to why, let me ask you a question? If you had an opportunity to get a loan and didn’t have to make a payment during your life, would you consider it? If you answered yes, you’re easy bait for a reverse mortgage.