This is a must-read. Here's how China and the world feels about the U.S. defaulting, I posted earlier this a.m. before reading a Stockton, California 10 News video of a man who was raided by SWAT and Federal gun-weilding so-called law enforcers. Following above article, see update on earlier Stocton article. I wonder if we'll reap what we sow. I posted the China/U.S. story earlier this a.m. before I had read the Stockton, CA Dept of Ed SWAT raiding a mans home. They chillingly correlate. Additionally, earlier there was an accompanying 10 News video of the home tenant describing the ordeal, but since earlier, the video is nowhere on the web to be seen.
(UPDATE****) 10 NEWS HAS UPDATED STORY AND VIDEO OF LOWER ARTICLE ON STOCKTON MANS HOME RAID BACK UP AS OF 11:49 am PAC.TIME
(****UPDATE****)
****UPDATE!!!**** HERE'S A UNITED KINGDOM LINK COMPLETE WITH STILL-SHOTS FROM ORIGINAL, YES, ORIGINAL VIDEO. HOORAY FOR OUR BLOKES IN ENGLAND!
http://www.dailymail.co.uk/news/article-2001010/SWAT-team-launch-dawn-raid-family-home-collect-womans-unpaid-student-loans.html?ito=feeds-newsxml
A little over the top?: SWAT team launch dawn raid on family home to collect unpaid student loans
A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife - to collect her unpaid student loans.
A stunned Kenneth Wright had his front door kicked in by the raiding party at 6 am yesterday before being dragged onto his front porch, handcuffed and led to a police car with his three children.
He says he was then detained for six hours while officers looked for his wife - who no longer lives at the house.
Scroll down for video
Mr Wright was later told by Stockton police that the order to send in the SWAT team came from The U.S. Department of Education who were looking for his estranged wife to collect defaulted loan payments.
Speaking to ABC News 10, a visibly shaken Mr Wright described what happened when he was woken by a banging on his front door.
He said: 'I look out of my window and I see 15 police officers.
Dressed in his boxer shorts, Mr Wright says he rushed downstairs and was about to open the door when it was kicked open.
An officer then grabbed him by the neck before dragging him out onto the front lawn.
His 3, 7, and 11-year-old children were also removed by officers and put in a waiting police car.
'He had his knee on my back and I had no idea why they were there,' Mr Wright said.
'They put me in handcuffs in that hot patrol car for six hours, traumatising my kids.'
The Department for Education refused to comment on the incident, saying they would not do so until the case was closed.
They did however confirm that their Office of the Inspector General had issued the search warrant.
The office has its own branch of federal agents that carry out search warrants and investigations.
Mr Wright is now trying to get compensation for the destroyed door.
Speaking to ABC, he demonstrated that although the door had been patched up, the handle no longer worked.
He said: 'They busted down my door for this.
'It wasn't even me.
'All I want is an apology for me and my kids and for them to get me a new door.'
He even had words of advice for anyone thinking of skipping paying their college bills.
He added: 'People who have student loans , pay your bills, take care of your credit.
'If you don't belive me, this could be you one morning 6 o'clock.'
Reuters – The National Debt Clock, which displays the current United States gross national debt and each American …
(UPDATE****) 10 NEWS HAS UPDATED STORY AND VIDEO OF LOWER ARTICLE ON STOCKTON MANS HOME RAID BACK UP AS OF 11:49 am PAC.TIME
(****UPDATE****)
****UPDATE!!!**** HERE'S A UNITED KINGDOM LINK COMPLETE WITH STILL-SHOTS FROM ORIGINAL, YES, ORIGINAL VIDEO. HOORAY FOR OUR BLOKES IN ENGLAND!
http://www.dailymail.co.uk/news/article-2001010/SWAT-team-launch-dawn-raid-family-home-collect-womans-unpaid-student-loans.html?ito=feeds-newsxml
A little over the top?: SWAT team launch dawn raid on family home to collect unpaid student loans
By Daily Mail Reporter
Last updated at 5:30 PM on 8th June 2011
A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife - to collect her unpaid student loans.
A stunned Kenneth Wright had his front door kicked in by the raiding party at 6 am yesterday before being dragged onto his front porch, handcuffed and led to a police car with his three children.
He says he was then detained for six hours while officers looked for his wife - who no longer lives at the house.
Scroll down for video
Shocked: Mr Wright stands in front of his home with the warrant issued to him by the SWAT team
Dragged: Mr Wright was hauled form his door step and cuffed by officers
Hunt: Mr Wright's unnamed wife apparently owes authorities a large sum in unpaid student fees
Mr Wright was later told by Stockton police that the order to send in the SWAT team came from The U.S. Department of Education who were looking for his estranged wife to collect defaulted loan payments.
Speaking to ABC News 10, a visibly shaken Mr Wright described what happened when he was woken by a banging on his front door.
He said: 'I look out of my window and I see 15 police officers.
Dressed in his boxer shorts, Mr Wright says he rushed downstairs and was about to open the door when it was kicked open.
An officer then grabbed him by the neck before dragging him out onto the front lawn.
His 3, 7, and 11-year-old children were also removed by officers and put in a waiting police car.
'He had his knee on my back and I had no idea why they were there,' Mr Wright said.
'They put me in handcuffs in that hot patrol car for six hours, traumatising my kids.'
Held: Mr Wright was grabbed by the neck and forced into a waiting police car
Mr Wrights three children, who were also led to the car with him
The Department for Education refused to comment on the incident, saying they would not do so until the case was closed.
They did however confirm that their Office of the Inspector General had issued the search warrant.
The office has its own branch of federal agents that carry out search warrants and investigations.
Mr Wright is now trying to get compensation for the destroyed door.
Speaking to ABC, he demonstrated that although the door had been patched up, the handle no longer worked.
He said: 'They busted down my door for this.
'It wasn't even me.
'All I want is an apology for me and my kids and for them to get me a new door.'
He even had words of advice for anyone thinking of skipping paying their college bills.
He added: 'People who have student loans , pay your bills, take care of your credit.
'If you don't belive me, this could be you one morning 6 o'clock.'
China warns U.S. debt-default idea is "playing with fire"
Reuters – The National Debt Clock, which displays the current United States gross national debt and each American …
SINGAPORE (Reuters) – Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday.
The idea of a technical default -- essentially delaying interest payments for a few days -- has gained backing from a growing number of mainstream Republicans who see it as a price worth paying if it forces the White House to slash spending, Reuters reported on Tuesday.
But any form of default could destabilize the global economy and sour already tense relations with big U.S. creditors such as China, government officials and investors warn.
Li Daokui, an adviser to the People's Bank of China, said a default could undermine the U.S. dollar, and Beijing needed to dissuade Washington from pursuing this course of action.
"I think there is a risk that the U.S. debt default may happen," Li told reporters on the sidelines of a forum in Beijing. "The result will be very serious and I really hope that they would stop playing with fire."
China is the largest foreign creditor to the United States, holding more than $1 trillion in Treasury debt as of March, U.S. data shows, so its concerns carry considerable weight in Washington.
"I really worry about the risks of a U.S. debt default, which I think may lead to a decline in the dollar's value," Li said.
Congress has balked at increasing a statutory limit on government spending as lawmakers argue over how to curb a deficit which is projected to reach $1.4 trillion this fiscal year. The U.S. Treasury Department has said it will run out of borrowing room by August 2.
If the United States cannot make interest payments on its debt, the Obama administration has warned of "catastrophic" consequences that could push the still-fragile economy back into recession.
"It has dire implications for the economy at a time when the macro data is softening," said Ben Westmore, a commodities economist at National Australia Bank.
"It's just a horrible idea," he said.
Financial markets are following the U.S. debate but see little risk of a default.
U.S. Treasury prices were firm in Europe on Wednesday, supported by a flight to their perceived safety on the back of the Greek debt crisis and worries about a slowdown in U.S. economic growth.
Marc Ostwald, a strategist with Monument Securities in London, said markets were working on the assumption that the U.S. debt story "will go away." But nervousness would grow if a resolution was not reached in the next five to six weeks.
'WOULDN'T HAPPEN'
The Republicans' theory is that bondholders would accept a brief delay in interest payments if it meant Washington finally addressed its long-term fiscal problems, putting the country in a stronger position to meet its debt obligations later on.
But interviews with government officials and investors show they consider a default such a grim -- and remote -- possibility that it was nearly impossible to imagine.
"How can the U.S. be allowed to default?" said an official at India's central bank. "We don't think this is a possibility because this could then create huge panic globally."
Indian officials say they have little choice but to buy U.S. Treasury debt because it is still among the world's safest and most liquid investments. It held $39.8 billion in U.S. Treasuries as of March, U.S. data shows.
The officials declined to be identified because they are not authorized to speak to the media.
Oman is concerned about the impact of a default on the currency reserves of the sultanate and its Gulf neighbors.
"Our economies are substantially tied up with the U.S. financial developments," said a senior central bank official, who spoke on condition of anonymity.
"It just wouldn't happen," said Barry Evans, who oversees $83 billion in fixed income assets at Manulife Asset Management. "They would pay their Treasury bills first instead of other bills. It's as simple as that."
Monument's Ostwald called the default scenario "frightening" and said bondholders' patience would wear thin if lawmakers persisted in pitching this strategy in the coming weeks.
"This isn't a debate, this is like a Mexican standoff and that is where the problem lies," he said.
Yuan Gangming, a researcher with the Chinese Academy of Social Sciences, a government think tank, smelled some political wrangling behind the U.S. debt debate as the 2012 presidential election draws nearer and said Republicans "want to make things difficult for Obama."
But with time running short before the U.S. Treasury exhausts its borrowing room, Yuan said default was a real risk.
"The possibility is quite high to see a default of the U.S. debt, which would harm many countries in the world, and China in particular," he said.
(Reporting by Kevin Lim and Jong Woo Cheon in Singapore, Suvashree Dey Choudhury in Mumbai, Aileen Wang and Kevin Yao in Beijing, Abhijit Neogy in Delhi, Marius Zaharia in London and Umesh Desai in Hong Kong; Editing by Dean Yates and Neil Fullick)
The idea of a technical default -- essentially delaying interest payments for a few days -- has gained backing from a growing number of mainstream Republicans who see it as a price worth paying if it forces the White House to slash spending, Reuters reported on Tuesday.
But any form of default could destabilize the global economy and sour already tense relations with big U.S. creditors such as China, government officials and investors warn.
Li Daokui, an adviser to the People's Bank of China, said a default could undermine the U.S. dollar, and Beijing needed to dissuade Washington from pursuing this course of action.
"I think there is a risk that the U.S. debt default may happen," Li told reporters on the sidelines of a forum in Beijing. "The result will be very serious and I really hope that they would stop playing with fire."
China is the largest foreign creditor to the United States, holding more than $1 trillion in Treasury debt as of March, U.S. data shows, so its concerns carry considerable weight in Washington.
"I really worry about the risks of a U.S. debt default, which I think may lead to a decline in the dollar's value," Li said.
Congress has balked at increasing a statutory limit on government spending as lawmakers argue over how to curb a deficit which is projected to reach $1.4 trillion this fiscal year. The U.S. Treasury Department has said it will run out of borrowing room by August 2.
If the United States cannot make interest payments on its debt, the Obama administration has warned of "catastrophic" consequences that could push the still-fragile economy back into recession.
"It has dire implications for the economy at a time when the macro data is softening," said Ben Westmore, a commodities economist at National Australia Bank.
"It's just a horrible idea," he said.
Financial markets are following the U.S. debate but see little risk of a default.
U.S. Treasury prices were firm in Europe on Wednesday, supported by a flight to their perceived safety on the back of the Greek debt crisis and worries about a slowdown in U.S. economic growth.
Marc Ostwald, a strategist with Monument Securities in London, said markets were working on the assumption that the U.S. debt story "will go away." But nervousness would grow if a resolution was not reached in the next five to six weeks.
'WOULDN'T HAPPEN'
The Republicans' theory is that bondholders would accept a brief delay in interest payments if it meant Washington finally addressed its long-term fiscal problems, putting the country in a stronger position to meet its debt obligations later on.
But interviews with government officials and investors show they consider a default such a grim -- and remote -- possibility that it was nearly impossible to imagine.
"How can the U.S. be allowed to default?" said an official at India's central bank. "We don't think this is a possibility because this could then create huge panic globally."
Indian officials say they have little choice but to buy U.S. Treasury debt because it is still among the world's safest and most liquid investments. It held $39.8 billion in U.S. Treasuries as of March, U.S. data shows.
The officials declined to be identified because they are not authorized to speak to the media.
Oman is concerned about the impact of a default on the currency reserves of the sultanate and its Gulf neighbors.
"Our economies are substantially tied up with the U.S. financial developments," said a senior central bank official, who spoke on condition of anonymity.
"It just wouldn't happen," said Barry Evans, who oversees $83 billion in fixed income assets at Manulife Asset Management. "They would pay their Treasury bills first instead of other bills. It's as simple as that."
Monument's Ostwald called the default scenario "frightening" and said bondholders' patience would wear thin if lawmakers persisted in pitching this strategy in the coming weeks.
"This isn't a debate, this is like a Mexican standoff and that is where the problem lies," he said.
Yuan Gangming, a researcher with the Chinese Academy of Social Sciences, a government think tank, smelled some political wrangling behind the U.S. debt debate as the 2012 presidential election draws nearer and said Republicans "want to make things difficult for Obama."
But with time running short before the U.S. Treasury exhausts its borrowing room, Yuan said default was a real risk.
"The possibility is quite high to see a default of the U.S. debt, which would harm many countries in the world, and China in particular," he said.
(Reporting by Kevin Lim and Jong Woo Cheon in Singapore, Suvashree Dey Choudhury in Mumbai, Aileen Wang and Kevin Yao in Beijing, Abhijit Neogy in Delhi, Marius Zaharia in London and Umesh Desai in Hong Kong; Editing by Dean Yates and Neil Fullick)
June 8, 2011
Education Officials Break Down Stockton man's Door (Had Enough YET?)
****UPDATE**** BELOW LINK NO LONGER HAS ARTICLE, AND THE ACCOMPANYING NEWS VIDEO NO LONGER TO BE FOUND ON WEB. HERE IS THE UPDATED LINK WITH SAME ARTICLE: http://www.news10.net/news/article/141108/2/Questions-surround-feds-raid-of-Stockton-home Written by C. Johnson Written by Leigh Paynter
http://www.news10.net/news/article/141072/2/Dept-of-Education-breaks-down-Stockton-mans-door
Select the link above after reading, and read the comments. That is the saddest part of this story. Apparantly, the U.S. Constitution and Bill of Rights is meaningless to our so-called education department and lack of oath-keepers in so-called law enforcement. I'm paying my student loan off about $150 a month and am happy to pay it. But many are simply unable and need a plan. Pay up, people. I wish I had known better and have concluded after receiving B average grades that the so-called education is simply not worth it and the schools are simply indoctrination centers for socialism and communism, and there's plenty of anti-American and anti-Christ activities and garbage being taught in EVERY school in the U.S. It's pure evil.
STOCKTON, CA - Kenneth Wright does not have a criminal record and he had no reason to believe a S.W.A.T team would be breaking down his door at 6 a.m. on Tuesday.
"I look out of my window and I see 15 police officers," Wright said.
Wright came downstairs in his boxer shorts as the officers team barged through his front door. Wright said an officer grabbed him by the neck and led him outside on his front lawn.
"He had his knee on my back and I had no idea why they were there," Wright said.
According to Wright, officers also woke his three young children ages 3, 7, and 11, and put them in a Stockton police patrol car with him. Officers then searched his house.
As it turned out, the person law enforcement was looking for was not there - Wright's estranged wife.
"They put me in handcuffs in that hot patrol car for six hours, traumatizing my kids," Wright said.
Wright said he later went to the mayor and Stockton Police Department, but the City of Stockton had nothing to do with Wright's search warrant.
The U.S. Department of Education issued the search and called in the S.W.A.T for his wife's defaulted student loans.
"They busted down my door for this," Wright said. "It wasn't even me."
According to the Department of Education's Office of the Inspector General, the case can't be discussed publicly until it is closed, but a spokesperson did confirm that the department did issue the search warrant at Wright's home.
The Office of the Inspector General has a law enforcement branch of federal agents that carry out search warrants and investigations.
Stockton Police Department said it was asked by federal agents to provide one officer and one patrol car just for a police presence when carrying out the search warrant.
Stockton police did not participate in breaking Wright's door, handcuffing him, or searching his home.
"All I want is an apology for me and my kids and for them to get me a new door," Wright said.
News10/KXTV
http://www.news10.net/news/article/141072/2/Dept-of-Education-breaks-down-Stockton-mans-door
Education Officials Break Down Stockton man's Door (Had Enough YET?)
Select the link above after reading, and read the comments. That is the saddest part of this story. Apparantly, the U.S. Constitution and Bill of Rights is meaningless to our so-called education department and lack of oath-keepers in so-called law enforcement. I'm paying my student loan off about $150 a month and am happy to pay it. But many are simply unable and need a plan. Pay up, people. I wish I had known better and have concluded after receiving B average grades that the so-called education is simply not worth it and the schools are simply indoctrination centers for socialism and communism, and there's plenty of anti-American and anti-Christ activities and garbage being taught in EVERY school in the U.S. It's pure evil.
STOCKTON, CA - Kenneth Wright does not have a criminal record and he had no reason to believe a S.W.A.T team would be breaking down his door at 6 a.m. on Tuesday.
"I look out of my window and I see 15 police officers," Wright said.
Wright came downstairs in his boxer shorts as the officers team barged through his front door. Wright said an officer grabbed him by the neck and led him outside on his front lawn.
"He had his knee on my back and I had no idea why they were there," Wright said.
According to Wright, officers also woke his three young children ages 3, 7, and 11, and put them in a Stockton police patrol car with him. Officers then searched his house.
As it turned out, the person law enforcement was looking for was not there - Wright's estranged wife.
"They put me in handcuffs in that hot patrol car for six hours, traumatizing my kids," Wright said.
Wright said he later went to the mayor and Stockton Police Department, but the City of Stockton had nothing to do with Wright's search warrant.
The U.S. Department of Education issued the search and called in the S.W.A.T for his wife's defaulted student loans.
"They busted down my door for this," Wright said. "It wasn't even me."
According to the Department of Education's Office of the Inspector General, the case can't be discussed publicly until it is closed, but a spokesperson did confirm that the department did issue the search warrant at Wright's home.
The Office of the Inspector General has a law enforcement branch of federal agents that carry out search warrants and investigations.
Stockton Police Department said it was asked by federal agents to provide one officer and one patrol car just for a police presence when carrying out the search warrant.
Stockton police did not participate in breaking Wright's door, handcuffing him, or searching his home.
"All I want is an apology for me and my kids and for them to get me a new door," Wright said.
News10/KXTV
This comment has been removed by the author.
ReplyDeleteI was curious about the student loan raid subject and found this in a web search. Still a fishy story on government's part."Dept. of Education SWAT Raid Update: Not for a Student Loan, DoE Says"
ReplyDeleteMATT WELCH | 6.8.2011 2:08 PM https://reason.com/2011/06/08/dept-of-education-swat-team-up