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Which Fannie Mae Loan Mortgage Programs is Best Suited For You?

Sorry… NOT!
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Image by eyewashdesign: A. Golden
New Yorkers Protest the US0 BILLION (US TRILLION) Wall Street BAILOUT: Wall Street, NYC – September 25, 2008

VOTE YOUR CONSCIENCE on 04 NOVEMBER 2008!

Photographer: a. golden, eyewash design – c. 2008.

Friends,

The richest 400 Americans — that’s right, just four-hundred people — own MORE than the bottom 150 million Americans COMBINED! 400 of the wealthiest Americans have got more stashed away than half the entire country! Their combined net worth is .6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly 0 billion — the same amount that they were demanding We give to them for the "bailout." Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves!

Of course, they are not going to do that — at least not voluntarily. George W. Bush was handed a 7 billion surplus when Bill Clinton left office. Because that money was OUR money and not HIS, he did what the rich prefer to do — spend it and never look back. Now we have a .5 trillion debt that will take seven generations from which to recover. Why — on –earth – did — our — "representatives" — give — these — robber — barons — $US850 BILLION — of – OUR — money?

Last week, proposed my own bailout plan. My suggestions, listed below, were predicated on the singular and simple belief that the rich must pull themselves up by their own platinum bootstraps. Sorry, fellows, but you drilled it into our heads one too many times: THERE…IS…NO…FREE… LUNCH ~ PERIOD! And thank you for encouraging us to hate people on welfare! So, there should have been NO HANDOUTS FROM US TO YOU! Last Friday, after voting AGAINST this BAILOUT, in an unprecedented turn of events, the House FLIP-FLOPPED their "No" Vote & said "Yes", in a rush version of a "bailout" bill vote. IN SPITE OF THE PEOPLE’S OVERWHELMING DISAPPROVAL OF THIS BAILOUT BILL… IN SPITE OF MILLIONS OF CALLS FROM THE PEOPLE CRASHING WASHINGTON "representatives’" PHONE LINES…IN SPITE OF CRASHING OUR POLITICIAN’S WEBSITES…IN SPITE OF HUNDREDS OF THOUSANDS OF PEOPLE PROTESTING AROUND THE COUNTRY… THEY VOTED FOR THIS BAILOUT! The People first succeeded on Monday with the House, but failed do it with the Senate and then THE HOUSE TURNED ON US TOO!

It is clear, though, we cannot simply continue protesting without proposing exactly what it is we think THESE IDIOTS should/’ve do/one. So, after consulting with a number of people smarter than Phil Gramm, here’s the proposal, now known as "Mike’s Rescue Plan." (From Michael Moore’s Bailout Plan) It has 10 simple, straightforward points. They are that you DIDN’T, BUT SHOULD’VE:

1. APPOINTED A SPECIAL PROSECUTOR TO CRIMINALLY INDICT ANYONE ON WALL STREET WHO KNOWINGLY CONTRIBUTED TO THIS COLLAPSE. Before any new money was expended, Congress should have committed, by resolution, to CRIMINALLY PROSECUTE ANYONE who had ANYTHING to do with the attempted SACKING OF OUR ECONOMY. This means that anyone who committed insider trading, securities fraud or any action that helped bring about this collapse should have and MUST GO TO JAIL! This Congress SHOULD HAVE called for a Special Prosecutor who would vigorously go after everyone who created the mess, and anyone else who attempts to scam the public in future. (I like Elliot Spitzer ~ so, he played a little hanky-panky…Wall Street hates him & this is a GOOD thing.)

2. THE RICH SHOULD HAVE PAID FOR THEIR OWN BAILOUT! They may have to live in 5 houses instead of 7. They may have to drive 9 cars instead of 13. The chef for their mini-terriers may have to be reassigned. But there is no way in hell, after forcing family incomes to go down more than ,000 dollars during the Bush years, that working people and the middle class should have to fork over one dime to underwrite the next yacht purchase.

If they truly needed the 0 billion they say they needed, well, here is an easy way they could have raised it:

a) Every couple makeing over a million dollars a year and every single taxpayer who makes over 0,000 a year should pay a 10% surcharge tax for five years. (It’s the Senator Sanders plan. He’s like Colonel Sanders, only he’s out to fry the right chickens.) That means the rich would have still been paying less income tax than when Carter was president. That would have raise a total of 0 billion.

b) Like nearly every other democracy, they should have charged a 0.25% tax on every stock transaction. This would have raised more than 0 billion in a year.

c) Because every stockholder is a patriotic American, stockholders should have forgone receiving a dividend check for ONE quarter and instead this money would have gone the treasury to help pay for the bullsh*t bailout.

d) 25% of major U.S. corporations currently pay NO federal income tax. Federal corporate tax revenues currently amount to 1.7% of the GDP compared to 5% in the 1950s. If we raised the corporate income tax BACK to the levels of the 1950s, this would give us an extra 0 billion.

All of this combined should have been enough to end the calamity. The rich would have gotten to keep their mansions and their servants and our United States government ("COUNTRY FIRST!") would’ve have a little leftover to repair some roads, bridges and schools…

3. YOU SHOULD HAVE BAIL OUT THE PEOPLE LOSING THEIR HOMES, NOT THE PEOPLE WHO WILL BUILD AN EIGHTH HOME! There are 1.3 million homes in foreclosure right now. That is what is at the heart of this problem. So, instead of giving the money to the banks as a gift, they should have paid down each of these mortgages by 0,000. They should have forced the banks to renegotiate the mortgage so the homeowner could pay on its current value. To insure that this help wouldn’t go to speculators and those who tried to making money by flipping houses, the bailout should have only been for people’s primary residences. And, in return for the 0K pay-down on the existing mortgage, the government would have gotten to share in the holding of the mortgage so it could get some of its money back. Thus, the total initial cost of fixing the mortgage crisis at its roots (instead of with the greedy lenders) is 0 billion, not 0 BILLION.

And let’s set the record straight. People who have defaulted on their mortgages are not "bad risks." They are our fellow Americans, and all they wanted was what we all want: a home to call their own. But, during the Bush years, millions of the People lost the decent paying jobs they had. SIX MILLION fell into poverty! SEVEN MILLION lost their health insurance! And, every one of them saw their real wages go DOWN by ,000! Those who DARE look down on these Americans who got hit with one bad break after another should be ASHAMED.! We are a better, stronger, safer and happier society when all of our citizens can afford to live in a home they own.

4. THERE SHOULD HAVE BEEN A STIPULATION THAT IF YOUR BANK OR COMPANY GOT ANY OF OUR MONEY IN A "BAILOUT," THEN WE OWN YOU. Sorry, that’s how it’s done. If the bank gives me money so I can buy a house, the bank "owns" that house until I pay it all back — with interest. Same deal for Wall Street. Whatever money you need to stay afloat, if our government considers you a safe risk — and necessary for the good of the country — then you can get a loan, but WE SHOULD OWN YOU. If you default, we will sell you. This is how the Swedish government did it and it worked.

5. ALL REGULATIONS SHOULD HAVE BEEN BE RESTORED. THE REAGAN REVOLUTION IS DEAD! This catastrophe happened because we let the fox have the keys to the hen-house. In 1999, Phil Gramm authored a bill to remove all the regulations that governed Wall Street and our banking system. The bill passed and Clinton signed it. Here’s what Sen.Phil Gramm, McCain’s chief economic advisor, said at the bill signing:

"In the 1930s … it was believed that government was the answer. It was believed that stability and growth came from government overriding the functioning of free markets.

"We are here today to repeal [that] because we have learned that government is not the answer. We have learned that freedom and competition are the answers. We have learned that we promote economic growth and we promote stability by having competition and freedom.

"I am proud to be here because this is an important bill; it is a deregulatory bill. I believe that that is the wave of the future, and I am awfully proud to have been a part of making it a reality."

FOR THIS NOT TO REOCCUR, This BILL SHOULD HAVE BEEN REPEALED! Bill Clinton could have helped by leading the effort for the repeal of the Gramm bill and the reinstating of even tougher regulations regarding our financial institutions. And when they were done with that, they should have restored the regulations for the airlines, the inspection of our food, the oil industry, OSHA, and every other entity that affects our daily lives. All oversight provisions for any "bailout" should have had enforcement monies attached to them and criminal penalties for all offenders.

6. IF IT’S TOO BIG TO FAIL, THEN THAT MEANS IT’S TOO BIG TO EXIST! Allowing the creation of these mega-mergers and not enforcing the monopoly and anti-trust laws has allowed a number of financial institutions and corporations to become so large, the very thought of their collapse means an even bigger collapse across the entire economy. No ONE or TWO companies should EVER have this kind of power! The so-called "economic Pearl Harbor" can’t happen when you have hundreds — thousands — of institutions where people have their money. When we have a dozen auto companies, if one goes belly-up, we DON’T FACE A NATIONAL DISASTER! If we have three separately-owned daily newspapers in your town, then one media company can’t call all the shots (I know… What am I thinking?! Who reads a paper anymore? Sure glad all those mergers and buyouts left us with a STRONG and "FREE" press!). Laws Should have been enacted to prevent companies from being so large and dominant that with one slingshot to the eye, the GIANT FALLS and DIES. And no institution should be allowed to set up money schemes that NO ONE understands. If you can’t explain it in two sentences, you shouldn’t be taking anyone’s money!

7. NO EXECUTIVE SHOULD EVER BE PAID MORE THAN 40 TIMES THEIR AVERAGE EMPLOYEE, AND NO EXECUTIVE SHOULD RECEIVE ANY KIND OF "PARACHUTE" OTHER THAN THE VERY GENEROUS SALARY HE OR SHE MADE WHILE WORKING FOR THE COMPANY. In 1980, the average American CEO made 45 times what their employees made. By 2003, they were making 254 times what their workers made. After 8 years of Bush, they now make over 400 times what their average employee makes. How We have allowed this to happen at publicly held companies is beyond reason. In Britain, the average CEO makes 28 times what their average employee makes. In Japan, it’s only 17 times! The last I heard, the CEO of Toyota was living the high life in Tokyo. How does he do it on so little money? Seriously, this is an OUTRAGE! We have created the mess we’re in by letting the people at the top become bloated beyond belief with millions of dollars. THIS HAS TO STOP! Not only should no executive who receives help out of this mess profit from it, but any executive who was in charge of running his company into the ground should be FIRED before the company receives ANY help.

8. CONGRESS SHOULD HAVE STRENGTHENED THE FDIC AND MADE IT A MODEL FOR PROTECTING NOT ONLY PEOPLE’S SAVINGS, BUT ALSO THEIR PENSIONS AND THEIR HOMES. Obama was correct to propose expanding FDIC protection of people’s savings in their banks to 0,000. But, this same sort of government insurance must be given to our NEVER have to worry about whether or not the money they’ve put away for their old age will be there. This should have meant strict government oversight of companies who manage their employees’ funds — or perhaps it means the companies should have been forced to turn over those funds and their management to the government? People’s private retirement funds must also be protected, but perhaps it’s time to consider not having one’s retirement invested in the casino known as the stock market??? Our government should have a solemn duty to guarantee that no one who grows old in this country has to worry about becoming destitute.

9. EVERYBODY NEEDS TO TAKE A DEEP BREATH, CALM DOWN, AND NOT LET FEAR RULE THE DAY. Turn off your TVs! We are NOT in the Second Great Depression. The sky is NOT falling, Chicken Little! Pundits and politicians have lied to us so FAST and FURIOUS it’s hard not to be affected by all the fear mongering. Even I wrote to and repeated what I heard on the news last week, that the Dow had the biggest one day drop in its history. Well, that was true in terms of points, but its 7% drop came nowhere close to Black Monday in 1987 when the stock market in one day lost 23% of its value. In the ’80s, 3,000 banks closed, but America didn’t go out of business. These institutions have always had their ups and downs and eventually it works out. It has to, because the rich do not like their wealth being disrupted! They have a vested interest in calming things down and getting back into their Jacuzzis before they slip into their million thread-count sheets to drift off to a peaceful, Vodka tonic and Ambien-induced slumber.

As crazy as things are right now, tens of thousands of people got a car loan last week. Thousands went to the bank and got a mortgage to buy a home. Students just back to college found banks more than happy to put them into hock for the next 15 years with a student loan. I was even pre-approved for a USK personal loan. Yes, life has gone on with little-or-no-change (other than the whopping 6.1% umeployment rate, but that happened last month). Not a single person lost any of his/her monies in bank, or a treasury note, or in a CD. And, the perhaps the most amazing thing is that the American public FINALLY didn’t buy the scare campaign. The citizens didn’t blink, instead telling Congress to take that bailout and shove it. THAT was impressive. Why didn’t the population succumb to the fright-filled warnings from their president and his cronies? Well, you can only say ‘Saddam has the bomb’ so many times before the people realize you’re a lying sack of shit. After eight long years, the nation is worn out and simply can’t take it any longer. The WORLD is fed up & I don’t blame them.

10. THEY SHOULD HAVE CREATED A NATIONAL BANK, A "PEOPLE’S BANK." Since they’re really itching to print up a trillion dollars, instead of giving it to a few rich people, why don’t We give it to ourselves? Now that We own Freddie and Fannie, why not set up a People’s bank? One that can provide low-interest loans for all sorts of people who want to own a home, start a small business, go to school, come up with the cure for cancer or create the next great invention. And, now that we own AIG – the country’s largest insurance company – let’s take the next step and PROVIDE HEALTH INSURANCE FOR EVERYONE. MEDICARE FOR ALL! It will SAVE us SO MUCH MONEY in the LONG RUN (not to mention bring peace of mind to all). And, America won’t be 12th on the life expectancy list! We’ll be able to have a longer lifespan, enjoying our government-protected pension and will live to see the day when the corporate criminals who caused this much misery are let out of prison so that We can help re-acclimate them to plain old ordinary, civilian life — a life with ONE nice home and ONE gas-free car invented with help from the People’s Bank.

P.S. Call your Senators NOW !!! —> www.visi.com/juan/congress/

Since they voted against passing the extension of unemployment benefits and skipped out to "campaign" to us to be re-elected…call them and tell them you will vote for the other "guy" if they don’t get their act together!

UPDATE:

The Bailout Is A Truly Evil Disaster And Enabler Pelosi Must Go

We are hearing more and more reports of how badly the ill-advised banker’s bailout is being handled, multi-million dollar bonuses for Paulson’s old cronies at Goldman Sachs, billions going to finance the takeover of rival banks, making the "too big to fail" even bigger, and the taxpayer getting an otherwise rotten deal for their investment. We even heard a Republic senator asking how fast they could blow the money.

NONE of this could have happened without the fawning complicity of Nancy Pelosi, who infamously said it was Bush’s proposal, INSTEAD of coming forward with a robust alternative plan. Just like Bush, she believes she is immune, she believes she is unaccountable, and shame on us if we don’t do everything we can to defeat her this Tuesday, and replace her with Cindy Sheehan.

Here is Cindy’s last TV spot. Please make whatever donation you can to put this ad on the air in these critical final days.

Last Cindy TV Spot Action Page:
www.usalone.com/cindy/donations_tv2.php

There is still time for you to make a real difference. We thank all of our participants who have already donated so generously to make this campaign what it is. For those who cannot make a contribution, please consider helping with the phone banking, and there is a link for that also on the page above.

The one thing we know is that we must continue to speak out. We must continue to challenge. Surrendering is what our current so-called representatives in Congress are so prone to, NOT what we do. Ultimate victory is not only possible, it is assured if we work as hard as we can for real change, not just the rebranding of the same old boys’
network.

And we promise you, immediately after the election we will go right back to work on pure issue advocacy full time, to continue to build the base of action for the future.

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Donations to Cindy Sheehan for Congress are not tax-deductible

Please take action NOW, so we can win all victories that are supposed to be ours, and forward this alert as widely as possible.

If you would like to get alerts like these, you can do so at www.usalone.net/in.htm

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Quite a few Fannie Mae loan mortgage programs are offered that can help individuals buy a house with less than perfect credit. Additionally, Fannie Mae provides programs to assist homeowners facing foreclosure with solutions such as mortgage refinance and loan modification.

Recently added Fannie Mae loan mortgage programs include Hardest Hit Fund and Deed-for Lease. Hardest Hit is offered in 19 states, while Deed-for-Lease is a nationwide program. Individuals can consult with housing counselors through Fannie Mae help centers, as well as working with HUD housing counselors.

Hardest Hit Fund is a federally-funded program aimed toward assisting homeowners experiencing financial hardships caused by underemployment and unemployment. Since eligibility criterion varies by each state where the program is offered, homeowners will need to review requirements before applying for assistance.

Hardest Hit Fund programs haven’t been widely announced, so many people aren’t aware of their existence. Therefore, there is still quite a bit of funding available to people that are in dire straits. For example, Florida Hardest Hit Fund received over $ 400 million in funding, but has only disbursed less than $ 1 million.

Unfortunately, less than half of homeowners that apply for Hardest Hit Fund receive assistance money. Individuals in need of mortgage assistance ought to seek help through HUD housing counseling or Fannie Mae mortgage help centers to discuss this program, along with other available options.

At present, only a few states have Fannie Mae help center locations where homeowners can meet face-to-face with housing counselors. However, homeowners with Fannie Mae mortgages can speak to counselors via phone. Those in need can find help centers and research available Fannie Mae loan mortgage programs at KnowYourOptions.com.

Another foreclosure prevention program that helps people with Fannie Mae loans is Making Home Affordable. This is a government-sponsored program that offers several options to stop foreclosure.

MHA programs include: loan modification, mortgage refinance for first and second lien mortgages, principal reduction, real estate forbearance, deferred payments, and foreclosure alternatives of deed in lieu and short sales.

Service members may qualify for Fannie Mae’s special military forbearance. This type of arrangement lets homeowners receive a temporary reduction or suspension of mortgage installments. Forbearance plans normally offer reduced or suspended payments for a maximum of 180 days. However, qualified service members might be able to obtain an additional 180 days extension.

The Deed-for-Lease program is a relatively new option offered by Fannie Mae. Qualified homeowners give their house back to the bank using a deed in lieu of foreclosure agreement.

When banks provide deed-in-lieu, homeowners are normally required to immediately vacate the premises. However, under the Deed-for-Lease program, homeowners are allowed to lease their house from the bank for 12 months or longer.

A good program for individuals and real estate investors that want to buy a house is Fannie Mae Homepath. This program was originated to liquidate Fannie Mae’s expansive foreclosure portfolio by offering residential foreclosure homes at discounted prices.

People that purchase Fannie Mae Homepath properties can apply for financing through Homepath Mortgage. These loans offer special incentives including low interest rates and minimal down payments.

Whether you’re looking to buy affordable housing, investment real estate, or obtain reduced mortgage payments consider looking into Fannie Mae loan mortgage programs. Doing so could potentially shave thousands off of housing costs and help you save your house from becoming another foreclosure statistic.

California real estate investor, Simon Volkov offers insights about how to get the most out of Fannie Mae loan mortgage programs and shares details of other available foreclosure prevention and first time home buyer programs at www.SimonVolkov.com.

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Suggestions To Applying For Maternity Leave

North Woolwich’s Second Abandoned Station
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North Woolwich is unusual in having not one abandoned station, but two. The original, a rather grand building in the Italianate style, was opened by the Eastern Counties Railway in 1847 and served a ferry linking to the busy dockyard town of Woolwich on the opposite bank (although the name North Woolwich might appear to be a railway invention, it was actually the correct geographic name for this location as a historic quick meant that this small enclave on the north side of the Thames was part of the Borough of Woolwich in the administrative County of Kent – an anomaly that persisted until the creation of Greater London on 1st April 1965 when North Woolwich was incorporated into the new London Borough of Newham).

The station prospered, especially with the construction of the Royal Docks between 1855 and 1921 and the lack of any real competition from road transport. However this changed with the construction of the new Silvertown Way in the 1930s, part of a Government Scheme to reduce unemployment by funding transport infrastructure schemes; not least because London Transport decided that the trolleybuses which replacing trams in East London would be extended along the new road, from Canning Town to Silvertown and North Woolwich. After the Second World War the Docks went into decline, and so did the train service – by 1978 it had been reduced to a shuttle from Stratford, and looked set for closure.

The Greater London Council instead set about reviving the line. In May 1979 the service was extended to Camden Road, with new stations at Hackney Central and Hackney Wick (opened 1980); existing stations were given new, and very basic, facilities; this included North Woolwich which had a new building added to the side. All this was a pre-cursor to electrification in May 1985, which saw the service incorporated into the North London Line with trains running from North Woolwich to Richmond. In the meantime the old Station building at North Woolwich was refurbished and opened by Newham Council as a local Railway Museum.

It was the development of other railways in the area which finally killed off the North Woolwich Line. The Beckton line of the Docklands Light Railway opened in March 1994 and the Jubilkee Line was extended to Canning Town and Stratford in 1999, but it was the coming of the line to King George V in December 2005 (since extended to Woolwich Arsenal) that finally rendered the old line redundant; services between Stratford and North Woolwich were withdrawn after 9th December the following year. Since then the route between Stratford and Canning Town has been reused by the Stratford International branch of the DLR (opened August 2011). The section between Custom House and North Woolwich is being incorporated into the Abbey Wood branch of Crossrail, due to open in 2018; however as the line has to tunnel under the Thames a portal is being built to the west of here, so its is unlikely that a train will ever run into this station again.

Apart from Australia, the U.S. is the sole developed country that makes no provision for paid maternity leave, with regard to moms-to-be, nationwide. Based on a report of 168 countries, undertaken by Harvard University, 163 countries had certain provisions for paid maternity leave. Therefore, the U.S. is in the same league as New Guinea, Lesotho, Swaziland, and Papua with regard to making available paid leave for expectant women.

It is simply beyond anyone’s comprehension, as to why such a situation exists, even though professionals and renowned professors declare that the differing objectives of American and European feminist movement could possibly have had a say in the absence of this benefit – paid maternity leave with reference to expectant women in America.

Early women rights activists in Europe laid stress on meting out special privileges for moms, also highlighting maternity leave. On the other hand, in America, the early women rights activists did not attach much importance to motherhood, and instead stressed equal rights for the female sex without any special privileges extended.

In the U.S., there have been concerted efforts to
initiate the process of providing for paid maternity leave. The Clinton administration desired that states should utilize the unemployment fund to make available paid maternity leave. However, resistance from various business interests caused the Bush administrations to summarily reject this scheme. Business groups contended that it would require them to raise their levels of contributions towards the state unemployment funds.

California, in the year 2004, launched a family leave plan (indicating either maternity or paternity leave) which provides about fifty percent pay for a period of six weeks. A fund created by the employees and not the employers, helped finance this plan.

At present, there are 5 states – Hawaii, California, New York, Rhode Island and New Jersey – which have initiated temporary disability programs whereby employers are required to pay benefits in case the pregnancy is referred to by a doctor as a disability.
Nearly all the states permit a woman to avail of unpaid maternity leave. A woman can be eligible for unpaid leave in case:

1. She is employed by the federal government, the state, or the local government, or by any business, which has a workforce of fifty or more operating inside seventy-five miles of her place of work.

2. She has been working with her present employer for a minimum of twelve months and has put in a minimum of 1,250 hours in the past year (which is an average of twenty-five hours every week for approximately fifty weeks).

You may not be able to retain your job in the company in case you fall into the top salaried ten percent of pay earners in the company and if it is proved by your employer that your nonattendance would produce considerable financial damage to the organization.

You can utilize you unpaid maternity leave in any which way you desire during the course of your pregnancy and right up to one year following the birth of your child. This denotes that you can use your leave at one go or distribute it over your baby’s initial year by cutting down on your regular daily or weekly work load, in case your employer gives his consent.

Federal procedures mandate that you apply for leave a good thirty days before you avail of it. However, it would be best if you kept your employer apprised of the fact that you are pregnant well in advance.

Abhishek has seen many childbirths in his huge family! Visit www.Childbirth-Guru.com and Download Abhishek’s FREE Report “How To Dress And Look Your Best During Pregnancy!”. If you are an expecting mother, or have just delivered, you can get some very valuable information about Pregnancy and Childbirth. But hurry, only limited Free copies available! www.Childbirth-Guru.com

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