There appears to be a light at the end of the tunnel for the victims of the worst industrial and environmental disaster.

The energy company, BP’s agreement to compensate monetarily with $20 billion over three-year period for the Gulf Coast oil spill impact is a fair beginning.

It’s been set up without a cap and to be monitored by an independent administrator previously appointed to oversee the 9/11 families’ relief fund.

In fact, the urgency lies with the company’s daunting task to stop the gushing oil completely, otherwise ‘plug the hole.’

President Barack Obama’s initiative deserves credit for it enabled BP’s decision.

Now, it’s imperative not to proceed in the direction that has inherent risks with unsustainable loss of life and income to the communities along the coastal regions.

Abandoning offshore drilling in deep and shallow water is the ideal solution to prevent economic and environmental costs.

Some permanent damages to wild and marine life are incomparable for they exceed any likely benefits from oil exploration to attain energy independence, especially when there are absolute clean energy options available through solar, wind, hydropower, bio-fuel etc.

Similarly, the Bhopal victims’ plea for justice in the historic industrial negligence causing several thousand casualties and wreaking havoc in the surroundings with terminal illnesses, birth defects… making life impossible for the impoverished survivors exposed the long buried truth suspected in the failure to implicate the parent company, Union Carbide USA and its then CEO Mr. Warren Anderson.

As stated in the earlier blog post titled “Worst Industrial Catastrophe – Union Carbide / Dow Chemicals and Bhopal Victims of India,” published on June 12, 2010,

The deal between the parent company Union Carbide USA and the Indian government at the federal and state representation confirms the immunity granted to Union Carbide USA including the assurance to the then CEO’s safe departure prior to his arrival in India.

According to the latest reports, the US Envoy to India in 1984, Mr. Gordon Streeb, has come forward and disclosed the details in the agreement between the parent company Union Carbide USA and the Indian government at that time.

The international and Indian journalists, the primary witnesses at the site, corroborated the events leading to the unresolved dispute.

Further, the ex-CEO Mr. Warren Anderson concurred with the key elements in the Bhopal accident settlement during his recent interview.

Per the emerging reports, “the previous Indian government in a sweeping effort to westernize the status quo and transform the ‘socialist,’ economy to ‘capitalism,’ adopted appeasement strategies to lure foreign investments.

In that context, the Bhopal tragedy was an impediment to the measures due to the multinational corporation’s conspicuous mismanagement of the chemical plant.

Subsequently, the transaction materialized at the highest political and corporate level in the backdrop of the greatest industrial calamity.

Again, obstruction of justice through politics and prejudice is not territorial.

It’s an epidemic that has evolved into an unpleasant fact for the innocent deprived of free and fair judicial process.

Nevertheless, the incumbent Indian administration led by Prime Minister Manmohan Singh seemingly responding with the following appropriate actions:

A new institution called the “EGom,” – Empowered Group of Ministers have been designated with the responsibilities to address the Bhopal victims’ humanitarian needs by imposing a deadline i.e. June 24, 2010 to expedite the much awaited disaster aid.

Source: Indian News Media and the Indian Government Official Data.

Bhopal EGom”s Tall Order:

Work out enhanced compensation package for the survivors of the Bhopal gas explosion.

Provide relief and rehabilitation to the victims.

Determine ways to decontaminate the site not precluding soil and ground water testing to ensure safe living conditions.

Rigorous regulations on industrial mishaps with liabilities directly transferred to the corporations in violation.

Last but not the least, the Government contemplating Mr. Warren Anderson’s extradition request.

The diligence demonstrated by Prime Minister Manmohan Singh and the Congress Party Leader Sonia Gandhi is praiseworthy.

However, the challenge remains in implementing the executive order with none or minimal bureaucracy that often delays the anticipated results.

The victims have endured enormous suffering and any procrastination would exacerbate their plight.

Notwithstanding the government obligations since they are the fund recipient in the Bhopal dispute.

Regarding Mr. Warren Anderson’s extradition – considering the individual’s frail health and age (90+ years), a televised formal apology to the Bhopal victims would be morally and ethically sound, rather than subjecting the elderly defendant to legal proceedings.

Although, the affected citizens’ pain and agony over these years has been excruciating, their forgiveness of those incarcerated in the horrific incident could heal the ordeal experienced by them.

For human spirit is enriched through compassion.

It’s a long journey for the disaster victims in the east and the west, but there is hope with the leaderships on both sides striving hard to end the misery.

Thank you.

Padmini Arhant

Heartfelt condolences to the victims’ families of the following events:

India – Air India plane crash in Mangalore, India on May 21, 2010 with more than 160 lives reported to have been lost and the few survivors seriously injured.

Afghanistan – Plane wreckage north of Kabul, from an Afghan commercial airliner with 44 people claimed to have succumbed to the fatal crash.

Insurgents attacks against NATO base in Afghanistan reportedly wounding coalition troops and civilian staff in the repeat assault on a major military installation.

Iraq – A Car bomb had killed 23 shoppers and wounded 50 in a crowded market in a Shiite town near Baghdad.

The loss of life from plane crash and the violent attacks in Afghanistan and Iraq are deeply regrettable.
Time is the best healer in overcoming grief and the victims memories remain as their legacy.

We pray for the departed souls to rest in peace and the injured for speedy recovery.

An opportunity to display gratitude to a mother for her various contributions beginning with the gift of life, endless love, family values and always being there to provide necessary support.

Although, it may not apply to all, a mother’s arduous and joyous experience in giving birth to life in itself deserves respect and appreciation.

A mother nurtures life from conception to adulthood teaching valuable lessons to her offspring.

Mother’s natural instinct to protect her child from harm is seen commonly in life species.

For some, the special relationship may not be shared with a biological parent.

Wherever there is genuine affection, care and companionship, that situation assumes motherhood, fatherhood or both.

Children benefit enormously by growing up in a loving and caring environment. It’s pervasive and has positive effects in life.

Society is represented by citizens and the individual productivity or the lack thereof often reflects the personal satisfaction in life.

Productivity not in monetary terms but the selfless service for greater good is the real achievement that guarantees inner peace and happiness.

A mother plays an important role in early childhood and cultivating those aspirations through simple actions enrich the human character.

It’s similar to sowing the seeds and nurturing all the way for full bloom with widespread fragrance.

On mother’s day, it would be symbolic to honor ‘Mother Earth/Nature,’ for the life sustenance elements and the incredible beauty that brings pleasure to the beholder.

Emulating Mother Nature’s abundant attributes could lead to ‘Nirvana,’ the enlightened soul attaining the universal knowledge.

Mother or Father’s day is everyday for they strive hard to be the family caregivers.

The caregivers are truly acknowledged when the beneficiaries return obligations by attending to the parents or the surrogates’ needs during any crisis particularly in the old age.

Happy Mother’s Day!

Thank you.

Padmini Arhant

I have never been on the White House payroll or received any payments in cash or kind from the authorities and any political parties, or anyone remotely associated or affiliated to the political, corporate and any form of organizations in the United States or anywhere in the world.

Furthermore, the humanitarian work has been entirely a free service, on a “volunteer” basis from the beginning and up until now.

Any communication received from or sent to the White House and the political party has been published for the worldview throughout my involvement in politics.

The painting that was mailed by the Chairman of the Democratic National Party, Gov. Tim Kaine with a request to contribute to electing the Democratic Party members was published on the website prior to the final health care vote that I did not endorse.

Unlike the public network pledging to be the ‘voice for democracy,’ who attacked me for not doing so, yet applying my current donation for the negative attributes towards whistle blowers is the irony in public affairs.

Is mudslinging a sign of insecurity or a “Free Speech” misnomer?

I have never met the then candidate and now the President Barack Obama in person nor had verbal conversations during the campaign and until now.

All communications have taken place via email and conventional mail up until last year.

Subsequently, the communication has been through regular mail only.

The materials were all published on the website and available for public review.

Therefore, for journalism to thrive in honor of democracy, I request certain members unnecessarily engaged in unsubstantiated allegations to refrain from defamation of persons dedicated to humanitarian service.

Instead, invest their time and my donations for a productive cause.

Solidarity in promoting truth and justice is required from the media and the press corps, the only hope for democracy to succeed.

Human values are determined by their actions and the noble virtues reflected through their courage to face those challenging the ideals.

I remain steadfast in lending the voice to the voiceless and will continue to strive for peace on earth.

Thank you.

Padmini Arhant

Please refer to the details laid out in the preceding articles from other news organizations published on this website under the title ‘Mortgage Refinance and Foreclosures.’

Information is also available in the article, @www.mercurynews.com

“By Sue McAllister – San Jose Mercury News, Saturday, March 27, 2010 – Thank you.

“Titled – Debt Relief – Mortgage program: Who will benefit?

Answers to how the federal plan will work and whom it will help”
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Program Evaluation – By Padmini Arhant

Making Home Affordable program targets the vulnerable homeowners on the verge of losing their homes.

Mortgagees who are unemployed, underwater and delinquent in their payments could seek assistance upon they meet the criteria.

Aligning mortgage debt with the asset value in order to help people retain ownership is a prudent measure to stabilize the struggling housing market.

It’s evident from these news reports that the program is well intended but the burden rests on the taxpayers through,

Federal Housing Administration insured loans absorbing the entire risk on potential loan default,

And,

Incentives to lenders to reduce principal value for the underwater and unemployed customers provided from the TARP funds…

The finance sector responsible for the subprime mortgage crisis is exempt from any liability.

On the contrary, they are being coerced with the federal funding that appears to be inadequate to rescue the vast majority from foreclosures and loan qualifications.

Federal programs or reform requires oversight to ensure the rules adherence by the industry.

Again, an independent / non-profit consumer rights agency is appropriate to avoid the conflict of interest.

As stated by the consumer advocates, the bankruptcy procedure for loan modifications is more reliable than the service offered by the federal partnership with lenders.

When a particular method is not yielding the desirable results, it is best to choose the option with a positive outcome.

Since the rules are ignored by the industry, setting consequences for non-compliance is an effective approach to limit the program failure.

If the borrowers are subject to terms and conditions then it should be applicable to the lenders as well.

Finally, the program would be beneficial with the banks accepting a fair share of monetary obligations in the principal reduction and the refinancing structure, having been the beneficiary of taxpayer bailout.

Thank you.

Padmini Arhant

In the current economy, two major issues deserve urgent attention.

They are – unemployment and home ownership.

This topic will focus on the homeowners and the federal program under consideration to address the foreclosures arising from high mortgages.

Meanwhile, the following news report and editorial from other news organizations are presented for reference.

According to the –

1. New York Times report By David Streitfeld – Friday, March 26, 2010 – Thank you.

New help for homeowners – Revising Loan Modification

The Obama administration will announce today a broad new initiative to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments.

The escalation in aid comes as the administration is under rising pressure from Congress to resolve the foreclosure crisis, which has put millions of Americans at risk of losing their homes.

A major element of the new program, according to several sources who spoke on the condition of anonymity, will be to encourage lenders to write down the value of loans for borrowers in modification programs. Until now, modification programs have focused on lowering interest rates.

Another major element will involve the government, through the Federal Housing Administration, refinancing loans from borrowers whose home value has sunk below what they owe on it.

More than 11 million homeowners are in this position, known as being underwater.

That aspect of the plan would apply even to borrowers who have not fallen behind in their mortgage payments.

Investors who own the loans would have to swallow losses but would probably be assured of getting more in the long run than if the borrowers went into foreclosure.

The FHA would insure the new loans against the risk of default.

Many details of the administration’s plan remained unclear Thursday night, including the precise scope of the new programs and the number of homeowners likely to qualify.

This much was clear, however:

The plan could put taxpayers at increased risk.

If many additional borrowers move into FHA loans, a new downturn in the housing market could send that government agency into the red.

The FHA has already expanded its mortgage-guarantee program substantially in the last three years as the housing crisis deepened, insuring more than 6 million borrowers.

Sources said the agency would receive $14 billion in funds from the Troubled Asset Relief Program, cash it could dangle in front of financial institutions as incentives to participate in the new program.

A third element of the White House’s housing program will require lenders to offer unemployed borrowers a reduction in their payments for a minimum of three months.

An administration official declined to speak on the record about the new programs but said they would “better assist responsible homeowners who have been affected by the economic crisis through no fault of their own.”

The plan would essentially supplant the government’s earlier mortgage modification plan, announced a year ago with great fanfare.

It has resulted in fewer than 200,000 people getting permanent new loans.

As many as 7 million borrowers are seriously delinquent on their loans and at risk of foreclosure.

The news was greeted with cautious enthusiasm by groups that have tracked the foreclosure crisis and tried to assist communities and underwater homebuyers.

“It sounds really good, and I’m not used to saying that,” said Kevin Stein of the California Reinvestment Coalition in San Francisco.

He said “the two main weaknesses” of the existing federal Home Affordable Modification Program were that,

It didn’t reduce the mortgages of underwater homeowners,

And, didn’t help borrowers who were underemployed or unemployed and would have difficulty qualifying for a loan modification.

“It seems they have taken these issues to heart,” Stein said.

“It’s unclear how many people will qualify – that’s the one hesitation. We’re not sure how broadly these initiatives will reach.”

Martin Eichner, with Project Sentinel in Sunnyvale, said the proposals sound good but he would like to see the details.

“It has to help significant numbers of people and there has to be enforcement,” Eichner said.

“These plans always look great in the first news release, but we’ve often been disappointed in the performance. To the extent that lenders write down principal balances, that would be a significant improvement,” he said.

Eichner said the home affordable effort also needs an enforcement mechanism.

“Without any real consequences, day to day we see lenders ignoring what we think are pretty clear rules under the current making home affordable program,”

While the number of foreclosure-related filings is beginning to flatten or decline, the number of borrowers who are seriously distressed is rising.

In the fourth quarter, the number of households at least 90 days past due on their mortgages swelled by 270,000, according to a report issued Thursday by the Office of the Comptroller of the Currency.

“The government is seeking to persuade people to stay in their homes by aligning the mortgage debt with the asset value, which is the only viable path to real housing stability,” said one person who was briefed on the government’s plans.

Several people who described the plans would speak only on condition of anonymity, since they had not been authorized to disclose details ahead of a White House briefing scheduled for this morning.”

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2. Editorial in the Bay Area News Group – March 29, 2010 – Thank you.

www.mercurynews.com/opinion:

Titled – Foreclosure plan has carrots but needs sticks –

“Eight million households are behind in their payments or in foreclosure. But the Making Home Affordable programs has modified just 200,000 loans.

Forgive us for not jumping up and down with delight over the Obama administration’s latest plan, announced Friday, to help stem the tide of foreclosures.

The changes will help those who are unemployed, underwater or both.

But they have come so late that it’s difficult to muster much enthusiasm.

Banks participation in solving this problem has been optional for too long.

The government must require those who caused this debacle to do more to end it.

Since the foreclosure crisis began three years ago, 6.6 million families have lost their homes, according to the Center for Responsible Lending.

The problem is not getting better.

Eight million households are behind in their payments or foreclosure, and

One in five are underwater – they owe more on their mortgages than their homes are worth.

The administration’s primary tool against foreclosures, the year-old Making Home Affordable partnership with lenders, has so far modified the terms of just 200,000 loans. It is not up to this enormous task.

But the changes announced Friday have the potential to improve that record.

The program will now be open to the unemployed, who previously couldn’t qualify but are a primary victim of foreclosures.

They’ll be eligible to get up to six months’ forbearance and to have their payments lowered to reflect their reduced income, at least for a short time.

Those who owe more than their homes are worth – in California, that’s more than a third of borrowers – may finally be able to get their loan principals reduced.

This much-needed shift in approach addresses another key driver of foreclosure.

Lenders will get incentives to reduce the amount owed.

Borrowers who are current on their payments but underwater – prime candidates to walk away from their mortgages and further weaken the housing market – could refinance into a cheaper government loan.

All of this will help. But the main problem with the government effort remains:

It’s all carrots, no sticks.

Consumer advocates have been pushing Congress for years to allow bankruptcy judges to modify loan terms for primary residences, which could reduce foreclosures up to 20 percent.

The financial industry’s army of lobbyists has managed to beat back that idea, known as “cramdown,” saying it can deal with the problem on its own and through Making Home Affordable.

That’s clearly not the case, because of malice or incompetence.

It would be wonderful if politicians gave the same consideration to desperate homeowners that they do to banks.

Most everyone facing foreclosure nowadays did nothing wrong – they’re simply caught in the cascading wave that began with the subprime mortgage crisis.

The same can’t be said of the banks that got us into this mess and then took billions of taxpayer bailouts.

Allowing judges to modify loans in bankruptcy would add structure to an overwhelmed system.

Reasonable compromises worked out in court would set precedents for lenders to follow.

If they didn’t, they could be forced to by a judge.

Judges have this power for second homes.

There’s no good reason they shouldn’t have it for every home.”
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Comment – Review and Analysis is in progress and will be presented shortly.

Thank you for your patience.

Padmini Arhant

This week, President Barack Obama and the Democratic Congress secured three major achievements of national and international significance.

Beginning with the latest event:

The world’s prolific nuclear nations, U.S and Russia signed a long overdue nuclear weapons treaty reportedly to reduce the warhead arsenals by one-third with the hope to lead the international community towards a complete nuclear disarmament.

Housing market revival through programs targeting foreclosure for millions of homeowners.

And

National Health Care Legislation – is a historic victory for the democrats and the Obama Presidency.

A review and analysis on these topics is in progress.

Your patience is much appreciated.

Thank you.