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.JPG)
Marvin
Morrow
In Live Concert
at Local Church
HAMILTON, AL - Look for
Marvin
Morrow, Sunday, February 15th, 2009, he will be in
Concert at
Bethany Church, North West of Hamilton,
AL. on County Hwy. 20.
Pictures and story by Judy Webb Mays
2/11/09
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The following is a
Press Release from Governor Bob Riley, and
dated January 11, 2009.
Whether you agree or disagree with this, if you have
not read it we think you should, because just as with all the laws in
this State of Alabama, it will affect you, your family, and your future.
Please read this and let us know what you think at
jmays@49countynews.net
Also let your voice be heard by emailing State
Senator, Roger Bedford and State Representative, Mike Millican.
Their emails are:
senbedford@aol.com
mike.millican@alhouse.org
PRESS RELEASE
Illegal Gambling Must End in Alabama
By
Governor Bob Riley
January 11, 2009
Every year there is an effort in the Legislature to
expand gambling. In its last session, the Legislature spent roughly
two-thirds of its time debating bills to expand gambling. Not education,
not health care, but gambling.
It appears this upcoming session will be no different. Already, gambling
supporters are using the pretext of proration to justify more gambling.
The year before that they justified their proposal as a means to fund
Medicaid. Before that, again, the excuse was education in the guise of
“bingo for books.” And so on and so on.
Continued on the next page
Click Here to continue to the end on the Governor's site....
Story by:
jmays@49countynews.net
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Remarks by Treasury Secretary Timothy Geithner
Introducing the Financial Stability Plan
Tuesday, February 10, 2009
February 10, 2009
TG-18
Secretary Geithner Introduces Financial Stability Plan
As President Obama said in his inaugural address, our
economic strength is derived from "the doers, the makers of things."
The innovators who create and expand enterprises; the workers who
provide life to companies; this is what drives economic growth.
The financial system is central to this process. Banks and the credit
markets transform the earnings and savings of American workers into the
loans that finance a first home, a new car or a college education. And
this system provides the capital and credit necessary to build a company
around a new idea.
Without credit, economies cannot grow at their potential, and right now,
critical parts of our financial system are damaged. The credit markets
that are essential for small businesses and consumers are not working.
Borrowing costs have risen sharply for state and local governments, for
students trying to pay for college, and for businesses large and small.
Many banks are reducing lending, and across the country they are
tightening the terms of loans.
Last Friday we learned that the economy had lost three million jobs last
year, and an additional 600,000 just last month. As demand falls and
credit tightens, businesses around the world are cutting back the
investments that are essential to future growth. Trade among nations has
contracted sharply, as trade finance has dried up. Home prices are still
falling, as foreclosures rise and even credit worthy borrowers are
finding it harder to finance the purchase of a first home, or refinance
their mortgage.
Instead of catalyzing recovery, the financial system is working against
recovery. And at the same time, the recession is putting greater
pressure on banks. This is a dangerous dynamic, and we need to arrest
it. It is essential for every American to understand that the battle for
economic recovery must be fought on two fronts. We have to both
jumpstart job creation and private investment, and we must get credit
flowing again to businesses and families.
Without a powerful Economic Recovery Act, too many Americans will lose
their jobs and too many businesses will fail. And unless we restore the
flow of credit, the recession will be deeper and longer, causing even
more damage to families and businesses across the country.
Today, as Congress moves to pass an economic recovery plan that will
help create jobs and lay a foundation for stronger economic future, we
are outlining a new Financial Stability Plan.
Our plan will help restart the flow of credit, clean up and strengthen
our banks, and provide critical aid for homeowners and for small
businesses. As we do each of these things, we will impose new, higher
standards for transparency and accountability.
I am going to outline the key elements of this program today. But before
I do that, I want to explain how we got here. The causes of the crisis
are many and complex. They accumulated over time, and will take time to
resolve.
Governments and central banks around the world pursued policies that,
with the benefit of hindsight, caused a huge global boom in credit,
pushing up housing prices and financial markets to levels that defied
gravity.
Investors and banks took risks they did not understand. Individuals,
businesses, and governments borrowed beyond their means. The rewards
that went to financial executives departed from any realistic
appreciation of risk.
There were systematic failures in the checks and balances in the system,
by Boards of Directors, by credit rating agencies, and by government
regulators. Our financial system operated with large gaps in meaningful
oversight, and without sufficient constraints to limit risk. Even
institutions that were overseen by our complicated, overlapping system
of multiple regulators put themselves in a position of extreme
vulnerability.
These failures helped lay the foundation for the worst economic crisis
in generations.
When the crisis began, governments around the world were too slow to
act. When action came, it was late and inadequate. Policy was always
behind the curve, always chasing the escalating crisis. As the crisis
intensified and more dramatic government action was required, the
emergency actions meant to provide confidence and reassurance too often
added to public anxiety and to investor uncertainty.
The dramatic failure or near-failure of some of the world's largest
financial institutions, and the lack of clear criteria and conditions
applied to government interventions caused investors to pull back from
taking risk. Last fall, as the global crisis intensified, Congress acted
quickly and courageously to provide emergency authority to help contain
the damage. The government used that authority to pull the financial
system back from the edge of catastrophic failure.
The actions your government took were absolutely essential, but they
were inadequate.
The force of government support was not comprehensive or quick enough to
withstand the deepening pressure brought on by the weakening economy.
The spectacle of huge amounts of taxpayer assistance being provided to
the same institutions that help caused the crisis, with limited
transparency and oversight, added to public distrust. This distrust
turned to anger as Boards of Directors at some institutions continued to
award rich compensation packages and lavish perks to their senior
executives.
Our challenge is much greater today because the American people have
lost faith in the leaders of our financial institutions, and are
skeptical that their government has – to this point -- used taxpayers'
money in ways that will benefit them. This has to change.
To get credit flowing again, to restore confidence in our markets, and
restore the faith of the American people, we are fundamentally reshaping
the government's program to repair the financial system.
Our work will be guided by the lessons of the last few months and the
lessons of financial crisis throughout history. The basic principles
that will shape our strategy are the following:
We believe that the policy response has to be comprehensive, and
forceful. There is more risk and greater cost in gradualism than in
aggressive action.
We believe that action has to be sustained until recovery is firmly
established. In the United States in the 30s, Japan in the 90s, and in
other cases around the world, previous crises lasted longer and caused
greater damage because governments applied the brakes too early. We
cannot make that mistake.
We believe that access to public support is a privilege, not a right.
When our government provides support to banks, it is not for the benefit
of banks, it is for the businesses and families who depend on banks… and
for the benefit of the country. Government support must come with strong
conditions to protect the tax payer and with transparency that allows
the American people to see the impact of those investments.
We believe our policies must be designed to mobilize and leverage
private capital, not to supplant or discourage private capital. When
government investment is necessary, it should be replaced with private
capital as soon as possible.
We believe that the United States has to send a clear and consistent
signal that we will act to prevent the catastrophic failure of financial
institutions that would damage the broader economy.
Guided by these principles, we will replace the current program with a
new Financial Stability Plan to stabilize and repair the financial
system, and support the flow of credit necessary for recovery.
This new Financial Stability Plan will take a comprehensive approach.
The
Department of the Treasury, the Federal Reserve, the FDIC, and all the
financial agencies in our country will bring the full force of the
United States Government to bear to strengthen our financial system so
that we get the economy back on track.
We have different authorities, instruments and responsibilities, but we
are one government serving the American people, and I will do everything
in my power to ensure that we act as one.
Our work begins with a new framework of oversight and governance of all
aspects of our Financial Stability Plan.
The American people will be able to see where their tax dollars are
going and the return on their government's investment, they will be able
to see whether the conditions placed on banks and institutions are being
met and enforced, they will be able to see whether boards of directors
are being responsible with taxpayer dollars and how they're compensating
their executives, and they will be able to see how these actions are
impacting the overall flow of lending and the cost of borrowing.
These new requirements, which will be available on a new website
www.FinancialStability.gov,
will give the American people the transparency they deserve.
These steps build on what we've done already. We've acted to ensure the
integrity of the process that provides access to government support, so
that it is independent of influence from lobbyists and politics. We've
committed to provide the American people with information on how their
money is spent and under what conditions by posting contracts on the
Internet. And, importantly, we have outlined strong conditions on
executive compensation.
Under this framework, we are establishing three new programs to clean up
and strengthen the nation's banks, bring in private capital to restart
lending, and to go around the banking system directly to the markets
that consumers and businesses depend on.
Let me describe each of these steps:
First, we're going to require banking institutions to go through a
carefully designed comprehensive stress test, to use the medical term.
We want their balance sheets cleaner, and stronger. And we are going to
help this process by providing a new program of capital support for
those institutions which need it.
To do this, we are going to bring together the government agencies with
authority over our nation's major banks and initiate a more consistent,
realistic, and forward looking assessment about the risk on balance
sheets, and we're going to introduce new measures to improve disclosure.
Those institutions that need additional capital will be able to access a
new funding mechanism that uses funds from the Treasury as a bridge to
private capital. The capital will come with conditions to help ensure
that every dollar of assistance is used to generate a level of lending
greater than what would have been possible in the absence of government
support. And this assistance will come with terms that should encourage
the institutions to replace public assistance with private capital as
soon as that is possible.
The Treasury's investments in these institutions will be placed in a new
Financial Stability Trust.
Second, alongside this new Financial Stability Trust, together with the
Fed, the FDIC, and the private sector, we will establish a
Public-Private Investment Fund. This program will provide government
capital and government financing to help leverage private capital to
help get private markets working again. This fund will be targeted to
the legacy loans and assets that are now burdening many financial
institutions.
By providing the financing the private markets cannot now provide, this
will help start a market for the real estate related assets that are at
the center of this crisis. Our objective is to use private capital and
private asset managers to help provide a market mechanism for valuing
the assets.
We are exploring a range of different structures for this program, and
will seek input from market participants and the public as we design it.
We believe this program should ultimately provide up to one trillion in
financing capacity, but we plan to start it on a scale of $500 billion,
and expand it based on what works.
Third, working jointly with the Federal Reserve, we are prepared to
commit up to a trillion dollars to support a Consumer and Business
Lending Initiative. This initiative will kickstart the secondary lending
markets, to bring down borrowing costs, and to help get credit flowing
again.
In our financial system, 40 percent of consumer lending has historically
been available because people buy loans, put them together and sell
them. Because this vital source of lending has frozen up, no financial
recovery plan will be successful unless it helps restart securitization
markets for sound loans made to consumers and businesses – large and
small.
This lending program will be built on the Federal Reserve's Term Asset
Backed Securities Loan Facility, announced last November, with capital
from the Treasury and financing from the Federal Reserve.
We have agreed to expand this program to target the markets for small
business lending, student loans, consumer and auto finance, and
commercial mortgages.
And because small businesses are so important to our economy, we're
going to take additional steps to make it easier for them to get credit
from community banks and large banks. By increasing the federally
guaranteed portion of SBA loans, and giving more power to the SBA to
expedite loan approvals, we believe we can turn around the dramatic
decline in SBA lending we have seen in recent months.
Finally, we will launch a comprehensive housing program. Millions of
Americans have lost their homes, and millions more live with the risk
that they will be unable to meet their payments or refinance their
mortgages.
Many of these families borrowed beyond their means. But many others fell
victim to terrible lending practices that left them exposed,
overextended, and with no way to refinance. On top of that, homeowners
around the country are seeing the value of their homes fall because of
forces they did not create and cannot control. This crisis in housing
has had devastating consequences, and our government should have moved
more forcefully to limit the damage.
As house prices fall, demand for housing will increase, and conditions
will ultimately find a new balance. But now, we risk an intensifying
spiral in which lenders foreclose, pushing house prices lower and
reducing the value of household savings, and making it harder for all
families to refinance.
The President has asked his economic team to come together with a
comprehensive plan to address the housing crisis. We will announce the
details of this plan in the next few weeks.
Our focus will be on using the full resources of the government to help
bring down mortgage payments and to reduce mortgage interest rates. We
will do this with a substantial commitment of resources already
authorized by the Congress under the Emergency Economic Stabilization
Act.
Let me add that as we go forward, President Obama is committed to moving
quickly to reform our entire system of financial regulation so that we
never again face a crisis of this severity.
We are consulting closely with Chairman Chris Dodd in the Senate,
Chairman Barney Frank in the House, and their colleagues on both sides
of the aisle on the broad outline of a comprehensive program of reforms.
The President's Working Group on Financial Markets is developing
detailed recommendations.
And we will begin working closely with the world's leading economies on
a set of broader reforms to the international financial system in
preparation for the G-20 Summit in London on April 2nd.
The success of our financial stability plan is going to require an
unprecedented level of cooperation, here in the United States and around
the world. Federal Reserve Chairman Ben Bernanke, FDIC Chair Sheila
Bair, John Dugan, the Comptroller of the Currency, and John Reich the
head of the Office of Thrift Supervision, are here today. I want to
thank them for helping to shape this plan, and their commitment to
making it work.
This program will require a substantial and sustained commitment of
public resources. Congress has already authorized substantial resources
for this effort, and we will use those resources as carefully and
effectively as possible. We will consult closely with Congress as we
move forward, and work together to make sure we have the resources and
the authority to make this program work.
Later this week, I will be traveling to meet with the G7 finance
ministers and central bank governors in Italy. There, I'll start the
process of working with our international partners to ensure that we're
working together to strengthen recovery and to help stabilize and repair
the global financial system.
And we will work closely with the leadership of the IMF and World Bank
so that they can deploy resources quickly to help those countries around
the world that are most at risk from this crisis.
Many of the programs I've just discussed involve large numbers. But it
is important to recognize that these programs involve loans, guarantees,
and investments with terms and conditions that protect taxpayers and
help compensate the government for risk. Because of these terms and
conditions, the risk to taxpayers will be less than the headline.
Our obligation is to design the programs so that we are achieving the
largest benefit in terms of supporting recovery at least cost to the
taxpayer. And we take that obligation extremely seriously.
But I want to be candid: this strategy will cost money, involve risk,
and take time. As costly as this effort may be, we know that the cost of
a complete collapse of our financial system would be incalculable for
families, for businesses and for our nation.
We will have to adapt our program as conditions change. We will have to
try things we've never tried before. We will make mistakes. We will go
through periods in which things get worse and progress is uneven or
interrupted.
We will be guided by the principles of transparency and accountability,
dedicated to the goals of restoring credit to families and businesses,
and committed to moving our nation towards an economic recovery that is
as swift and widespread as possible.
This is a challenge more complex than any our financial system has ever
faced, requiring new programs and persistent attention to solve. But the
President, the Treasury and the entire Administration are committed to
see it through because we know how directly the future of our economy
depends on it.
Thank you.
Source
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Senator
Roger Bedford Capitol Report January 6, 2009
We have completed our first full week of the regular
session and it was a good one. In tough times we need strong leadership,
especially to protect our seniors and children. It was good to see the
successful transfer of the Senate Pro-Tem office when distinguished
Senator Hinton Mitchem stepped down and Senator Rodger Smitherman was
elected by a vote of 18-12 over Senator Jabo Waggoner. As you all know,
we face some difficult choices this year as well as Alabama has not been
spared from the ramifications of the downturn in the federal economy.
Both budgets face difficulties as we try to maintain essential
government services including healthcare for our elderly and children as
well as working to limit the impact of the shortfall to the education
budget. You may rest assured that I will continue to keep you updated on
all legislative and budget matters as the session progresses.
I hope that the federal Congress will soon send economic stimulus money
to the state to assist with funding.
While we are facing some tough economic times, our senate district did
procure several grants this past week including a Homeland Security
Grant for $5,500 for Colbert County and $4,400 for Franklin County. The
grants will be used to fund equipment and training for Mutual Aid
Response Team.
The Alabama Department of Economic and Community Affairs also awarded
several grants to our senate district. Three of those grants were for
weatherization assistance programs. The funds are used to help low
income, elderly and disabled residents of Alabama weatherize their
homes. The recipients of these grants were the Community Service
Programs of West Alabama which services the counties of Bibb, Fayette,
Greene, Lamar, Hale, Pickens and Tuscaloosa; the Community Action Agency
of Northwest Alabama which serves the counties of Colbert, Franklin and
Lauderdale Counties; and the Community Action Partnership of North
Alabama which serves the counties of Cullman, Lawrence, Marion, Morgan,
Walker and Winston. I would encourage anyone who feels they would
qualify for this program to contact their local community action
agencies and set up an appointment to see if they can get assistance
with weatherizing their homes.
I am proud to report that the Alabama Department of Economic and
Community Affairs issued two grants for Shelton State Community College
to provide overtime funds to law enforcement agencies. The grants were
for $24,800 and $22,445 respectively.
Northwest Shoals Community College also received two Alabama Department
of Economic and Community Affairs grants which I supported. One grant
was for $34,960 for the North Alabama Highway Safety Office’s, also
known as NAHSO, safety belt enforcement project. The other grant was for
$39,145 to help implement the ADECA/LETS 410 DUI enforcement project.
Both projects cover the counties of Colbert, Cullman, Franklin,
Lauderdale, Lawrence, Limestone, Marion, Madison, Morgan and Winston.
Also receiving grants from the Alabama Department of Economic and
Community Affairs this past week were the Shoals Crisis Center, which
received $16,000 to assist with the rape response campus awareness and
prevention program which provides crisis intervention for victims of
sexual violence on the campuses of the University of North Alabama and
the Phil Campbell and Muscle Shoals campuses of Northwest Shoals
Community College. The Pickens County Commission also received a $30,000
grant to be used to continue the 24th Judicial Circuit Domestic
Violence/Sexual Assault Unit. This Unit covers the counties of Fayette,
Lamar and Pickens.
I was glad that the Alabama Department of Transportation announced the
opening of bids for three highway projects in our senate district this
past week. One of the projects is the resurfacing and striping of State
Road 171 from 0.578 mile north County Road 45 to County Road 35 in
Hamilton. The second project is the resurfacing and traffic striping of
State Road 107 from MP 15.808 approximately 800 feet south of the
Fayette County line to MP 19.100 at the intersection of State Road 118
in Fayette County.
The third project is in Colbert County and involves the much needed
signalization of the intersection of County Road 312, also known as
Haley Drive, and County Road 376, also known as Titus Drive in the
Barton Riverfront Industrial Park.
This year is already moving quickly and it will not be long before high
school graduation will be upon us. As the seniors prepare for this
momentous event, they are also working on their college submissions
which also includes the search for financial assistance through pell
grants, student loans and scholarships. As many of you already know, one
of your best sources for finding these sources of funding is high school
counselors as well as the internet. Recently, I received information
regarding a scholarship program being done through Best Buy. The company
began their scholarship program in 1999 and since that time has awarded
almost $13 million to more than $10,000 students in the U.S. and Puerto
Rico. The program is open to students in grades 9-12 who live in either
the U.S. or Puerto Rico and who plan to enter a full-time undergraduate
course of study after graduating high school. Each scholarship is worth
$1,500. The deadline for submitting the scholarship application is
February 15.
For further details and to apply simply go to I encourage all interested
students to apply.
I hope all of you have had a chance to enjoy a local high school
basketball game. We can all be proud of all our area teams and I wish
them the best through the rest of their seasons. I also want to wish the
best to all the softball and baseball teams who will soon be starting
their seasons as well. It is a privilege for me to have been able to
assist our area teams throughout the years and I assure you that I will
continue to work hard in seeing that our young athletes get funding to
assist them with their athletic dreams. Sports provides many good
benefits to our young people including teaching them about team work and
discipline as well as being a positive outlet for their energies and a
great way for them to remain physically fit.
Thank you for your many letters, phone calls and e-mails.
Please continue to contact me at the following:
Roger H. Bedford, Jr.
Alabama State House
Suite 730, Montgomery, AL 36130
Phone:334-242-7862, Fax:334-353-4304
Roger Bedford & Associates, P.C.
P.O. Box 370, Russellville, AL 35653
Phone: 256-332-2880 Fax:256-332-7821
website: www.rogerbedford.com
E-mail: senbedford@aol.com
2-6-09
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SENATOR
ROGER BEDFORD CAPITOL REPORT MARCH 2, 2009
In 2006, you didn't just elect me to public office,
you hired me to do a job. You expect three things. One, you expect
results. Two, you expect me to go to Montgomery to work for your
interest, not special interests. And three, you expect me to make the
legislative session about people, not about politics, or political
parties or partisanship.
That is exactly what I am trying to achieve in Montgomery on your
behalf. And in the first weeks of the legislative session, I, along with
other members of the Senate Democratic Caucus, passed Senate bills for
the people of this state, bills that require licensing of tax preparers,
give retired physicians an incentive to serve in free health clinics,
and expand educational benefits for the families of soldiers. These
bills now go to the House of Representatives for consideration.
Of primary importance, we passed legislation that gives increased
education benefits to the families of Alabama's soldiers, benefits for
the children and spouses of those killed, disabled or missing in action
in the line of duty. This bill gives these spouses and children free
tuition, fees and books at any college, university or trade school in
Alabama for five years, an increase of one year over current Alabama
law.
These soldiers and their families give the ultimate sacrifice to our
country. They give their lives and independence taking care of our
families, and it is only right that we take care of theirs. So many
times, the finances of these families are decimated, and we must ensure
they have the money available to attend the state college or university
of their choice.
We also passed legislation creating a new car tag for veterans of
Operation Freedom Iraqi and Operation Enduring Freedom-Afghanistan. It
is yet another way to recognize the outstanding achievements of our men
and women serving abroad. In my opinion, we cannot do enough for them.
That is why we have also introduced a mortgage protection plan for the
families of slain soldiers. If a soldier is killed in the line of duty,
no bank, mortgage holder – nobody -- can foreclose on that soldier's
home for 180 days, one of the strongest home foreclosure protections in
the nation.
We also successfully passed legislation that makes it easier for retired
physicians to do volunteer work for free health clinics. The idea is to
include retired physicians under the same liability coverage that the
state of Alabama provides for state employees and agents of the state.
That provides a huge incentive for retired physicians to volunteer in
health care clinics in their communities.
This legislation will immediately impact the quality and the amount of
care available in free clinics. Retired doctors in every county of this
state will now be able to provide their years of experience and
knowledge to Alabamians who need their care the most. I think this is a
win-win for everyone. Now our retired doctors can continue to practice
in our clinics with the knowledge they are fully protected by the state
of Alabama. At the same time, our clinic patients will have access to
quality health care provided by physicians with years of experience.
The Alabama Taxpayer Protection and Assistance Act also passed the
Senate, a bill requiring that individual tax preparers pass a
proficiency exam, obtain a license and meet continuing education
requirements. We need to make sure that our taxpayers receive every dime
they deserve in their tax refunds. But that won't happen if their tax
preparer isn't qualified, and that won't happen if taxpayers are charged
outrageous fees for the work. We need standards, we need continuing
education, and we need licensing. Alabama consumers deserve nothing
less.
The legislation doesn't apply to tax attorneys, certified public
accountants or any professionals already regulated. The bill also
requires registered tax preparers to maintain a surety bond and mandates
disclosure of fees.
All of this is achieved when we put the interests of the people first,
and when we stop playing silly partisan games and “gotcha” politics. It
is my hope that we can continue to deliver for the people of Alabama in
the weeks to come.
I am also pleased to announce that the Alabama Department of
Transportation will open bids for two highway projects in our district
on February 27. The first project is in Franklin County and involves
work the leveling, widening, striping and placing of pavement markers on
County Road 77 from County Road 54 to County Road 56. The second project
is in Colbert County and calls for the signalization of the intersection
of County Road 312, known as Haley Drive, and County Road 376, known as
Titus Drive, in the Barton Riverfront Industrial Park. You may rest
assured that I will continue to work in seeing that we get our fair
share of tax dollars for important road projects such as these which
help improve our infrastructure and the safety of roads.
Please continue to contact me at the following addresses
and numbers:
Roger H. Bedford, Jr.
PO Box 370
Russellville, AL 35653
(256)332-2880 phone
(256)332-2801 fax
Alabama State House
11 S. Union Street
Suite 730
Montgomery, AL 36130
senbedford@aol.com
www.rogerbedford.com
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Story Hour
at Winfield Public Library Thursday
February 19, 2009
3:30 p.m.
Regina Sperry,
Librarian
wpl@dlis.net
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SENATOR ROGER BEDFORD CAPITOL REPORT Monday, March 13 , 2009
Alabamians Need Credit Card Reforms
Last week we learned of more bad economic news for
our state. First, unemployment increased to 7.8 percent, the highest
level in our state in 22 years. Second, it was announced that Alabama
ranked fourth nationally in bankruptcy filings in 2008. That was 24
percent higher than the year before.
And what was a major factor in those bankruptcies? Credit card debt.
Alabamians have an average credit card debt of $6,195, ranking us
seventh in the nation in that category.
If you are like most people, your interest rates on credit cards have
jumped dramatically in the last few months. As credit tightened, buying
dropped and lending stopped, so credit card companies saw their profits
shrink. If nobody is spending, how does a credit card company increase
profits? It is simple, really, they look for every legal way at their
disposal to raise your rates. And that is exactly what they have done,
by using all that small print you agreed to when you accepted your
credit cards.
It's called “rate-jacking,” and more than likely it has already happened
to you. Or the card companies gave you little notice when they raise the
rates. Or they shorten the time you have to pay to make you miss a
payment, triggering an increase.
Our citizens need more time to pay their credit card bills. Our citizens
need a longer notice period when rates are increased so they may shop
around for the best credit card deal. Our citizens need a limit on
certain credit card fees.
The good news is that change is coming. On Dec.18, 2008, the Federal
Reserve Board of Governors, the Office of Thrift Supervision and the
National Credit Union Administration adopted sweeping credit card
industry reforms that eliminate many of the abusive practices by the
industry on consumers.
These reforms:
· Limit interest rate hikes on existing credit card balances.
· Keep a fixed interest rate on new purchases for the first year of a
card and increase rates afterward after giving 45 days notice. The old
rules allowed rate changes at any time for any reason, with just 15 days
notice.
· Discontinue universal default, which allowed credit card companies to
raise interest rates on all credit cards if a consumer missed payment on
just one credit card or bill.
· Give cardholders at least 21 days to pay monthly bills.
· End "double-cycle billing": If a consumer does not pay off a bill in
full in a given cycle, the company charges interest on the entire
balance from the previous cycle, even if the cardholder paid part of it
off.
· Allocate payments in excess of the minimum amount due each month to
items with the highest interest rate balances.
· Limit over-the-limit and subprime credit card fees.
· Improve the readability of monthly statements.
· Ban raising rates on existing balances unless you're at least 30 days
late paying the minimum due.
Now the bad news: They chose to delay implementation until July 1, 2010.
These reforms will impact every Alabama credit card holder. It is
ridiculous that these new consumer protections have been adopted but
don't take effect until July of next year. Our citizens need help now,
during the worst economic crisis in my lifetime, not 15 months from now.
These are the most important credit card regulations in more than 30
years, and our people need their protections now, not tomorrow.
That is why I co-sponsored a resolution calling upon the Alabama
congressional leadership, Speaker of the United States House of
Representatives Nancy Pelosi, United States Senate Majority Leader Harry
Reid, and the United States Congress to pass legislation implementing
these new credit card regulations this year, taking effect 90 days after
the president signs the bill into law. I also asked that copies of the
resolution be sent to every state legislature requesting they adopt
similar resolutions.
Our families are struggling in this economy, and many are drowning in
credit card debt. The abusive tactics of credit card companies must
stop, and fairness must prevail. It is time to implement these rules.
In the senate district, we had some good news with the announcement of
the City of Sheffield receiving a $100,000 Alabama Department of
Economic and Community Affairs grant. The funds will be used to
construct a 10 foot wide, 1,110 foot long trail connecting Riverfront
Park to Whipporwill Park with lighting.
The Alabama State Council on the Arts released its report on grants
given for the 2008 fiscal year this past week. The mission of the
Council is to enhance the quality of life in Alabama culturally,
economically and educationally by supporting the state’s diverse and
rich artistic resources. The 2008 recipients of grants from the Council
in our senate district were as follows:
Colbert County:
$ 1,660 for the Helen Keller Foundation for the Flaming Fiddles and
Smoking Guitars
$15,600 to the Tennessee Valley Art Association for operating support
$ 6,000 to the Tennessee Valley Art Association for the historic Indian
apparel exhibit
$ 5,000 to the Tennessee Valley Art Association for the Blues &
Bluegrass traditions
$ 2,300 to the Tennessee Valley Art Association for the presentation of
In their Own Voices
Fayette County:
$ 4,200 to the Town of Belk for the Belk Bluegrass Festival
Lawrence County
$ 9,500 to the community and area schools for the rural school tour
Marion County
$ 1,700 to the City of Winfield for the Joey Dee and the Starlighters
$ 1,000 to the City of Winfield for Three on a String concert
$ 600 to the Hamilton Middle School for a five-week visit by an artist
to the school
The Council is accepting applications for grants for the period of
2009-2010 at this time. The deadline for application for assistance with
operational expenses is June 1, 2009 and the deadline for folk art
apprenticeships is September 1, 2009. To apply and find out more about
available grants and fellowships along with the requirements for the
same please go to the Council’s website at
www.arts.alabama.gov
or call them at 334-242-4076.
Please continue to contact me at the following:
Roger H. Bedford, Jr.
Alabama State House
11 S. Union Street
Suite 730
Montgomery, AL 36130
Phone: 334-242-7862
Fax: 334-242-4736
PO Box 370
Russellville, AL 35653
Phone: 256-332-2880
Fax: 256-332-2801
E-mail:
senbedford@aol.com
Website:
www.rogerbedford.com
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SENATOR ROGER BEDFORD CAPITOL REPORT Friday,
March 20, 2009
It was good to take a break for the session this past
week and be able to travel about the senate district. I enjoyed the
conversations I have had at my various stops.
I too was surprised to find that Kay Ivey had allowed the Prepaid
Affordable College Tuition program, also known as the P.A.C.T. program,
to run into the ground. What makes it worse is that she did not attempt
to get any help from anyone until she had done so. While it is clear
that she cannot do the job, it is my hope that the Governor and
Legislature can step up to the plate and assist the students of Alabama
and their parents who have invested in this program.
I traveled to Colbert County this past Thursday, were I was able to
present grant checks at the Colbert County Reporter including $2,500 to
Colbert Heights Elementary for computers for their media center, $500 to
the Northwest Shoals Community College softball team and $2,000 to the
FFA chapter of Cherokee High School. I then traveled to Lawrence County
where I was able to present $900 to the Lawrence County Chamber of
Commerce for the leadership program, $2,000 to the Lawrence County
Veterans Memorial Park for improvements, $500 to the Jesse Owens Runners
Club, $500 to the Moulton Elementary School for their outdoor classroom
project, and $500 to the Oakville Indian Mounds Education Center.
On Friday, I traveled to Marion County where I presented $2,000 to the
Hamilton Aggie Band to assist with the purchase of percussion equipment,
$800 to the Winfield High School Scholar’s Bowl team, $1,000 to the
Hamilton Middle School track team, $1,000 to the Marion County High
School basketball girls team for uniforms, $1,000 to the Brilliant
Police Department for a e-citation computer, $1,000 to the American
Legion to assist with boys and girls state and $1,000 to the Marion
County High School volleyball team to assist them with equipment needs.
I am pleased to see that the Shoals Crisis Center received an Alabama
Department of Economic and Community Affairs grant in the amount of
$29,632. The funds will be used to enhance the quality of services Rape
Response provides including the training of volunteer advocates and
professional support staff, such as law enforcement and medical
personnel, on issues of improving and increasing services to people with
disabilities who are victims of sexual violence. The project will
contribute to Rape Response’s operation, reach out to an underserved
population and promote the use of rape crisis services and reduction of
rape in the area.
It is a pleasure for me to assist in acquiring these grants for our
senate district not only to improve the quality of life but, also to
assist with programs and equipment that will enhance the safety of our
community.
I also had the privilege of attending the dedication of the dedication
of the Veterans Park at the Franklin County Archives in Russellville.
This has been a long time project designed to honor the veterans of
Franklin County and I am pleased to have been able to assist with the
same.
Please continue to contact me at the following:
Roger H. Bedford, Jr.
Alabama State House
11 S. Union Street
Suite 730
Montgomery, AL 36130
Phone: 334-242-7862
Fax: 334-242-4736
PO Box 370
Russellville, AL 35653
Phone: 256-332-2880
Fax: 256-332-2801
E-mail:
senbedford@aol.com
Website:
www.rogerbedford.com
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SENATOR ROGER BEDFORD CAPITOL REPORT Friday, March 27, 2009
Home Buyers, Home Builders Need Help Now
We had a productive week in Montgomery this past week
with many bills being passed through committee. However, the Republicans
continued stalling bills on the floor. We have begun to study the
federal stimulus in connection with the general fund and education
budgets to see how to best use the funds.
I was also able to travel to the Alabama Manufactured Housing
Association Convention. I was very impressed with the quality of the
workmanship which speaks well of the manufacturers in our senate
district as well as a fine tribute to our workforce. We must do all that
we can to see that we have affordable housing here in Alabama which the
stick build method helps to do.
There is one inescapable fact about the demise of our nation's economy:
The problems started with the housing sector.
I believe that the state of Alabama can play an important role in
housing, helping both citizens and home builders to buy and sell more
homes. I believe that Alabama has a responsibility to stimulate its own
economy, using state resources to jump-start job creation in the housing
sector. We can accomplish that by creating a mortgage guarantee fund to
stimulate home sales.
The Alabama Homeowners Initiative Act that will help more than 7,000 new
home buyers in the next year and increase investments in home mortgages.
The Act creates a mortgage guarantee fund to offset certain losses by
investors who hold new Alabama mortgages that are foreclosed. The fund
program will be administered by the Alabama Housing Finance Authority
The guarantee fund will have two sources of revenue. First, the fund
will receive $6 million from the Alabama Capital Improvement Trust Fund.
This is the only time proceeds will be used from the Alabama Capital
Improvement Trust Fund. Second, the fund will receive proceeds from 1
percent of the cost of every home financed by this program. This 1
percent fee will be paid by the home buyer.
Although the home buyer will be paying a new 1 percent fee at closing,
their total upfront costs for buying a home will actually be less under
our program, not more. By paying the 1 percent fee into our mortgage
protection fund, the home buyer no longer has to buy mortgage insurance,
which can cost as much as 3½ percent of the home price. Therefore, our
buyers will receive mortgage protection at a cheaper rate, saving money
for new home owners.
The mortgage protection fund will give additional protection to
investors who risk their money in these home mortgages. Under our plan,
investors can recover up to 40 percent of the amount owed by the
borrower. Currently, under private mortgage insurance, the investor can
only recover up to 25 percent. With more protection against loss under
the new fund, investors have a new incentive to invest in Alabama
mortgages again.
This creates a win-win situation for everyone. Home builders, with homes
to sell but few buyers, will begin to sell again. Investors, afraid of
mortgage foreclosures, will see reduced risks and begin to invest again.
And homeowners, with reduced costs and quality loans, will begin to buy
again.
This homeowner stimulus plan will cut the up-front costs of buying a
home, while creating a new incentive for investors to invest in new
mortgages. This two-prong approach will get home buyers buying again, at
better prices, and get mortgage investors investing again.
The loan program is aimed at middle-class Alabama families. Total
borrower income cannot exceed $98,230, which is 190 percent of the state
median income. Loans offered are 30-year, fixed rate, 101 percent
loan-to-value loans with strict qualifying criteria. The loans can be
used to buy new or existing homes.
Other criteria include:
Eligible home buyers must have a minimum credit score of 620.
Eligible home buyers' total debt ratio cannot exceed 50 percent of their
gross monthly income.
Eligible home buyers must complete a pre-purchase home buying counseling
course.
As Alabamians buy more homes, home builders will start to build again.
That means the generation of more income for our communities. It's
Alabama companies and Alabama families working together to fix Alabama's
economy.
Please continue to contact me at the following:
Roger Bedford, Jr.
PO Box 370
Russellville, AL 35653
Phone: 256-332-2880
Fax: 256-332-2801
Or
Alabama State House
11 South Union Street
Suite 730
Montgomery, AL 36130
Phone: 334-242-7862
Email: senbedford @aol.com
Website: rogerbedford.com
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Roger
Bedford's Capitol Report Friday, April 24, 2009
The Senate Democratic Caucus continued to move forward last week on its
agenda for working families, taking an important step in passing the
state education budget, developing a plan to save the PACT program and
pledging to expand the children's health insurance program by 14,000
kids.
The Senate Finance and Taxation Education Committee approved a $5.6
billion education budget for the 2009-10 school year. Although this
budget is $1 billion less than the education budget just two years ago,
much needed federal stimulus money will ensure that most teacher jobs,
along with popular reading, math, science and pre-kindergarten programs,
will be saved.
We still have a lot of work to do on the education budget, and there
will be many changes before final passage. But we will protect our
priorities, and that means protecting instruction that works for our
kids, pre-k and protecting teacher jobs.
On Wednesday, the Senate Democratic Caucus announced the expansion of
the Children's Health Insurance Program (CHIP), All Kids, an expansion
that will provide health care to more than 14,000 Alabama children
presently not covered.
The Caucus also announced the CHIP Prenatal Care expansion, a plan that
will provide more than 5,000 women with maternity care. This will be the
first time that the program will cover maternity care for non-teen
mothers.
In these tough economic times, when Alabama families are losing their
jobs, losing their homes and losing their health care, we will make sure
that the health care needs of our children are met. This is the right
thing to do for these families, the right thing to do for these
children, and the right thing to do for Alabama.
This expansion will now cover a family of five at 300 percent of the
Federal Poverty Level, which is a gross income limit of $77,370. All
Kids currently serves more than 71,000 children. A $7 million state
match to $24 million in federal funds will pay for the expansion.
Also on Wednesday, the Senate Finance and Taxation Committee passed a
plan to save the troubled Prepaid Affordable College Tuition program
(PACT.) The plan freezes tuition for three years for PACT students,
forbids new enrollments and turns over the management of the assets to
the Retirement Systems of Alabama so that Dr. David Bronner will run the
P.A.C.T. Program and not Bradley Byrnes and Kay Ivey, who ran it in the
ground.
That's the week in Montgomery.
Good news for the district came this week from the Alabama Department of
Transportation which announced the opening of bids for five road
projects in our district.
One of the projects is in Colbert County and is for the resurfacing and
striping of State Road 13 from 2300 foot south of the Franklin County
Line to County Road 77 in Littleville. The second project is in Lamar
County and is for a two foot pavement widening and resurfacing on State
Road 118 from the Mississippi State Line to east of the Sulligent City
Limits 0.2 mile east of Crews. There is also a project for Marion County
which calls for the resurfacing and striping of State Road 253 from
County Road 49 to Walker Street in Hackleburg.
The final two projects are in Franklin County. The first of these is for
the resurfacing and traffic striping of State Road 24 from just West of
County Road 63, also known as Washington Street, to 0.4 mile east of
State Road 13. The second project is for the roadside mowing in Franklin
and Lawrence Counties. All of these projects are greatly needed and will
enhance the safety of travel and improve the ability of businesses to
get their goods to market.
Congratulations also goes out to the Alabama Retirees Technical Group on
being awarded a $50,000 grant from the Alabama Department of Economic
and Community Affairs. The Alabama Retirees Technical Group is a non
profit organization dedicated to promoting energy efficiency and the
elimination of waste from commercial, industrial and institutional value
chains and headquartered in Northwest Alabama. ARC and matching funds
will be used to purchase existing curricula from established providers
such as the National Energy Education Development project, to adapt
those curricula to train teachers to then train students about the
basics of school facilities, and to use the curricula to train teachers
to then train students, teachers and school facilities and to use the
curricula to train teachers to then train students about the basics of
energy efficiency. ARTAG will offer training to middle and high school
teachers via the Alabama Math, Science and Technology Institute’s
in-service academy. Teachers from “distressed and at-risk counties in
the whole of Appalachian Alabama will be targeted this includes the
counties of Bibb, Lamar, Pickens and Randolph Counties.
Thank you for all the cards, letters and e-mails letting me know what is
on your mind and how you want me to vote on issues. It helps me do a
better job for you.
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Our Quest for Low-cost
Spay & Neuter Options Takes us to Amory, Mississippi Feb. 5, 2009
A very interesting and Entertaining city.
Story & Pictures by
Judy Mays & Don Gann
Click on any Picture to see it larger.
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Don and I
travelled to Amory, Mississippi this week to check out their Animal
Clinic. We're involved with our local Marion County Humane Society and
we were searching out possible low-cost Spay and Neuter options.
We have made contacts in other areas who will take a stray or abandoned
dog or cat and help us find it a home. You never know where you might
find a friend!
We went with an open mind and found many
friendly and knowledgeable people. Amory has so many things going that
it's hard to tell it all. So, I will just tell you about some of the
nice people and some of the attractions that this friendly city has.
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We didn't get started on our little trip
until after 12:00 noon, Thursday, so one of the first things we looked
for was food. And of course there are many nice restaurants and eating
places in Amory but we headed for Bill's Hamburger.
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I have a shirt from Bill's that I
wear once in a while because I have eaten there before. Don had not. He
didn't know what to expect. He had talked to his brothers, who both live
in other parts of the country, and they told him they eat there when
they go to Amory to play golf. One of Amory's many attractions is a nice
country club and golf course.
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He got me with my mouth full
of course!
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Time about is fair, isn't it!
We arrived at Bill's and
immediately ordered a cheeseburger with everything, fries and a Dr.
Pepper. It was delicious! If you go to Amory, and you like old fashioned
hamburgers, you must have one at Bill's. You can't miss it; it's
on the main street in the middle of town. It reminds me of "Bedford's
Better Beef Burgers" of Hamilton fame. Remember them?
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At Bill's, we met two nice young ladies,
Diana and Amy, who were the waitress and cook. Also there, were
couple of regular customers, Curt Tubb and his daughter Cameron.
Mr. Tubb told us about the Vet who had been in town but left and where
to find the Amory Animal Clinic.
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Our next stop was downtown at the Amory
City Hall, also in the main part of town.
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We saw the huge train downtown and have
pictures for you to see.
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Each year, Amory, Mississippi is the
scene of the Annual Train Festival and people come from all over to
enjoy the food, fun, and festivities. That's another story!
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The old Park Hotel
Downtown, on the main street, there are
several different kinds of stores, and even a Main Street Opry. They
are, I noticed on the way into town, a "Main Street City". It is a very
attractive and busy city.
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We made a stop at a small fishing lake (McAlpine
Lake) that is only for youth, 15 years old and younger. It, also, is
close to the middle of town! It had a pier, ducks, bird houses and
cypress trees out in it.
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There is a huge Medical Center there.
People from all around Mississippi and Alabama go there to receive
medical care. Lots of babies from Hamilton, Alabama were born there!
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The Tenn-Tom Waterway
One thing I noted, we didn't see a
Wal-Mart. There may be one (I was told there was one) but we didn't see
one.
First, we just want to formally thank everyone we met and tell them how
much we enjoyed meeting them and touring their city. It was a short
drive and there were so many things to see. It would take more than a
day to see everything worth seeing in their city. How many towns and
cities around here could you say that about?
Now, to the reason we went in the first place. We did enjoy our visit to
the city and then we arrived at the Amory Animal Clinic.
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There we found a spacious, clean facility
with three nice ladies behind the open and inviting counter. They were
quick to ask if they could help and just as quick to offer answers to
our questions. We came away with numbers and facts to present to our
Marion County Humane Society and names of people who may be able to help
us help people who are seeking affordable spay and neutering.
While there to we met the nicest young
lady who works at the Oak Tree Plantation Assisted Living Facility who
had brought in the cutest little Chihuahua puppy to visit the doctor.
She let us take her picture with her precious and tiny "Molly".
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"Molly"
Thanks for reading...Any questions or comments...email
me at jmays@49countynews.net
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THE MARION COUNTY HUMANE SOCIETY GETS A SIGN TO GO ON OUR LAND AT
PIKEVILLE!
As some of you might know, our Marion
County Humane Society is struggling to get enough money to build a
facility in Marion County. We have some money in the bank and about 5
acres of land in the Pikeville area on which we hope to build a
facility.
(L-R) Kathy Ballard, Judy Mays, Bill Nowlin & Noah
Photo by Don Gann
Future Home of the
Marion County Humane Society
Last week, while in Birmingham, Alabama, Don and I visited Alabama Spay
& Neuter Clinic. Their temporary facility is located just off I20. It
offers some promise in my quest. They have at least five counties in the
North Alabama area who provide transportation to the facility for the
purpose of lower cost spaying and neutering. They are building a huge
new facility next door. At this time, they are equipped to do about 50
spays and neuters per day with two vets on staff. When the new facility
is finished, they will have four vets and be doing about 100 spays and
neuters per day. They also do bunnies! You can visit their site at
www.alabamaspayneuterclinic.com/ Another site to visit is
SpayAlabama/LowCostOptions.
We are excited about the future but we need to find help with spaying
and neutering in the present. We need to stem the staggering number of
puppies and kittens being born every day in our area. The
MCHS has no
funds at this time to spay and neuter so it's my goal to find "lower
cost" options for spaying and neutering and to encourage each and every
pet owner to act responsibly in their pet's health and reproduction.
Please come to the Marion County Humane Society meeting this Tuesday,
February 10, 2009, 6:00 p.m., at the Hamilton City Hall in the large
Courtroom. Everybody's welcome!
Thanks for reading...Any
questions or comments...email me at
jmays@49countynews.net
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