the term of the loan is a fully advertised term. business rates are below the banks and other contacted -- contacted? organizations. just to give the income terms 44%, that equates to $460 per month. the loan uses as well are very flexible. we have working capital, inventory purchases, equipment, machinery, startup costs. just in the bit about the revolving loan funds in working solutions, they managed the entirety of the lending process from deals, underwriting, and bone servicing. they have financial specialists were fluent in spanish and chinese. the added benefit of having the profit administrator in the loan fund is that with the fund beyond the balance sheet of a nonprofit, they were able to access guarantee and loan-loss reserve programs, such as california capital access programs. working solutions are able to mitigate the loss with their strong underwriting process and technical assistance. loans to date have developed no charges. the bay area loans have gone to $2.2 million. compare that to the standard 4% to 5% from other providers. before i introduce the

loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for new cdfi's? >> mark wan

more than a third of the world's population is also too poor to qualify for a bank loan. ut after muhammed yunus and his grameen bank in bangladesh were awarded the nobel peace prize in 2006, micro credits became more widely available and are now a viable option for many. in 2010 alone some 137 million families received small loans which gave them the chance to ease other financial burdens or even start a small business. here's our global count: securing a microcredit doesn't require a trip to the bank. they're available even to those who would have little chance of securing a loan otherwise. many microcredits are taken out by women. the interest rates are about 25 percent, but that's low in comparison to what local loan sharks charge. and more than 95% of microcredits are paid bck. at first, microcredits were mostly taken out to start small businesses. but new studies show that many people use the money to pay for medicine, school fees, food or to repay other loans. the system isn't perfect. in india and bangladesh, hundreds of microcredit providers are in competition. su

loans to unqualified buyers. countrywide was later bought by bank of america. part of that money will pay for a loan modification program for countrywide borrowers who are underwater with their mortgages. in syria today, the slaughter continues. the dictator, bashar al-assad, seems out to destroy all opposition. his horses have surrounded the city of homs, the center of the 11-month-old rebellion. for a sixth day, the army fired into the city, rockets and mortars hitting houses and mosques. human rights groups say more than 60 people were killed just today. hospitals are packed with woundedly, including children. syria has banned independent reporting but our clarissa ward got in to tell the story of the rebels in one town fighting to overthrow the dictatorship. >> reporter: they marched together carrying their dead on their shoulders, a steady stream of men united in grief and defiance. "god is great," they cried. "give "give us revenge on bashar." they honored not only the fallen but also the bravest among them who fought in a gun battle yesterday. when rebel

it only applies to loans that the banks hold themselves and not to loans held by fannie mae or freddie mac. roughly 1 million homeowners will be helped when almost 11 million mortgages are in trouble. then there's that $1500 payment to the victims of improper foreclosures. >> i felt like i got screwed. >> reporter: for jesse hennigan, who lost his home as he applied to refinance, $1500 is not justice. >> we kicked you out of your house but we've sold your house again now so here's $1500 for moving out. that's terrible. >> reporter: still, supporters of this deal say the biggest deal here are these loan reductions that the banks have promised. if this works and a million homeowners are saved from foreclosure and resume some form of lower mortgage payment, scott, the theory is everyone wins, including the bank. >> pelley: but, wyatt, how does someone who is underwater take part in this money? >> reporter: scott, that's very complicated. two things we learned today. if you're a homeowner who is hoping for a principal reduction, you shouldn't just apply to your bank-- this will probably ta

the business must be located in san francisco, have limited or no access to bank loans. then they will be able to create or retain at least one full-time job per $25,000 loan made. that job must be made available to a low to moderate income person. the terms of the loan are up to $25,000 for start ups, up to $50,000 for existing businesses. it would be a five-year term and the interest rates are between 4% and 6%. only working solutions offered loans for this size with such favorable underwriting criteria and terms in the city. >> loan uses are just as flexible. inventor, capital, purchases, machinery, start up costs and lease hold improvements. a little about our working solutions administrator. working solutions was expected in a competitive r.f.p. process back in 2009 to administer the loan fund. working solutions pretty much handles the entirety of the lending process, for deal flow, loan writing and loan services. also having the loan fund in the non-profit bank's balance statement gives an added benefit. they also access lobe guaranteee program such as california, c

asked for. >> reporter: like thousands of homeowners, the family was given a pick a pay loan from world savings bank now known as predatory lending. >> they targeted these loans at elderly people, on fixed incomes and people who didn't really understand what was going on. >> reporter: this housing advocate says banks like world savings and wachovia often took advantage of these loans by offering homeowners the option of making low monthly payments. but in reality the payments eventually skyrocketed. >> they thought the initial payment was going to be the fixed rate payment forever and lo and behold it turns out it's not. >> reporter: the lofton's bad loan is now owned by wells fargo and even though they're good candidates, the bank continues to refuse modification. >> if i'm in a position to pay and you're in a position to help me stay in my home, why can't we work together? >> reporter: so as a last resort they are hoping to shed light on their fight. >> we talked to someone. they say they're going to work with us. and every time we get a note, sorry. you're declined. >> reporter: wells fargo has a

bank. we know we are limited. we cannot afford to give out a big loan. starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. the bank and credit union are similar. we do allow tax returns, projections. credit unions do not charge an additional loan or processing fee. processing time, on a small loan, -- consumer loans probably a few days. because we require a business plan, sometimes it takes longer. business plans take a while. especially bank statements. we need to see consistent income coming in. so far, a credit union delinquent rate is quite low because we are working with a client. we want to keep that low and as part of our mission. there is no application fee. if you are interested in an application or information, i have brochures, or you can give us a call. >> thank you. next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last y

tomorrow to be exact as when the next hero is plans now in this operation the european central bank loans money at one percent to european banks for three years and exchange for some overvalued pretty shoddy collateral some critics would argue so i'm going to show you exactly how this works you have the e.c.b. the central bank which prinsloo. just say in this hypothetical case ten billion bucks and they loan this to european banks a one percent pay pretty low interest rate banks take that money and they lend it at say four percent this is hypothetical in the case of l t r o a lot of that money is going to go to european sovereign debt where they can make a higher yield on that in the interest rate is higher and so where they make money in that carry trade is on the spread because say you have you know a five percent or a four percent interest rate you borrowed at one percent you make money on the difference now we often see carry trades talked about in terms of currency you have examples where people borrow in one currency and then they take that and they invest in another currency and yo

the central bank which prints let's just say in this hypothetical case ten billion bucks and they loan this to european banks at one percent pretty low interest rate banks take that money and they lend it at say four percent this is hypothetical in the case of l.t.r. oh a lot of that money is going to go to european sovereign debt where they can make a higher yield on that in the interest rate is higher and so where they make money in that carry trade is on the spread because say you have you know a five percent or a four percent interest rate you borrowed at one percent you make money on the difference now we often see carry trades talked about in terms of currency you have examples where people borrow in one currency and then they take that and they invest in another currency. and you hear carry trades and that used a lot and there's a lot of risk in that but in this case this is pretty much risk free ok because say you're you know an italian bank and you're already in it and if this ship sinks you're going to go down so hey look you can make a little money on the spread and this mon

budget a bit support of growth through low interest rates on the treasuries but also indirectly on bank loans to companies. and then there is the more supply side. we saw the work done by on forms, one of their fields of specialty but they did a specific work on the sort of liberalization measures italy has been introducing. they come to -- they and other studies of the bank of italy come to the conclusion this opening up of markets could all together generate a 10, 11% increase in productivity, half of which could be there in the first three years alone. also relatively in the short-term. of course the global and european policy becomes more growth generating. hence, our efforts vis-a-vis the european level. i come here to your second part about forms beyond italy, at the level including germany. well, i think there is a lot to be done in terms of country by country, responsibility of the various governments, but also in part. the leverage of the european commission. for example, the fact that the european commission has now opened infringement procedures that is putting legal and political

he subsequently secured a bank loan at an unusually favorable interest rate. he then tried to influence media coverage with a threatening phone call to the editor in chief of germany's most read newspaper. a short time later, he spoke in public about the affair. he apologized for attempting to influence the media but said he never granted any -- anyone inappropriate favor spiritually before the statement, he fired his spokesman without explanation. in early january, he tried again to clear his name. in a televised interview, committed to making mistakes in his dealings with the media but defended vacations his friends gave him at discount rates. in what he called the interests of transparency, his lawyer posted an extensive but not comprehensive number of documents on the internet. in mid-january came the next big speculations. he was said at a state permit to have actively helped his friend find sponsors for a society event. his former spokesman was also implicated. in february, state prosecutors in hanover announced they wanted to investigate reports that wu

to get phones, you have to contribute your own capital, and i would have to take a bank loan for that, but defeat the you again blocks funding from romania because of corruption, and left sitting on a pile of debt. this has happened to several friends of mine who went bankrupt. >> christoph finds the whole thing of certification. she had expected more from rumania's membership in the european union. >> we need someone who honestly wants to help us. someone who can explain everything to us. we are all simple people around here. but for now, barney and his classmates can only dream of going to school each morning just like other kids. >> british iron lady margaret thatcher got the diagnosis as well as u.s. president ronald reagan, but when this former football manager made his also is conditioned public, he shocked fans. alzheimer's is still not discussed openly, but with the population in europe getting older, it is important that we learn how to deal with it. an increasing number of people are affected by alzheimer's simply because we live longer. there is still no remedy against this

it only applies to loans that the banks hold themselves and not to loans held by fannie mae or freddie mac. roughly one million homeowners will be helped when almost 11 million mortgages are in trouble. then there's that $1500 payment to the victims of improper foreclosures. >> i felt like i got screwed. >> for jesse hen began who lost his home as he applied to refinance, $1500 is not justice. >> we kicked you out of your house but we've sold your house again now. so here's $1500 for moving out. that's terrible. >> but supporters of this deal say the biggest deal here are the loan reductions the banks have promised. if this works and a million homeowners are saved from foreclosure and resume a lower mortgage payment, the theory is everyone wins. wyatt andrews, cbs news, washington. >>> the no child left behind education law may be headed for a permanent recess. yesterday the obama administration granted exemptions to ten states. but another 28 have signalled their intention to try and leave the plan. the law was designed to use annual testing of children to improve math and reading ski

the 9ers had already secured 850 million dollars from bank loans. >> this is obviously, an unprecedentedfor the san francisco 49ers. this is a very big vote of confidence from the league. >> if it is such a great deal why did they not find private investors? why is it coming on the city company this entire scheme has been a bait and switch. >> opponents say santa clara residents were misled about financing. they are trying to force the issue pew back to voters. 9ers plan to open that stadium by 2015. >>> judge refused to lift court order barring two occupy oakland protesters coming within 300 feet of if plaza. attorneys for the men say the orders infringe on their civil rights. they are among a dozen occupy protesters who were served the court orders following last saturday night's violent protests. the two are accused of salting police officers. four hundred demonstrators were arrested during the weekend protest. >>> what do you think the chances are of seeing the sun later today? >> good. kind of cold now. >> 100% is what i would say. 101 to be that much firmer if we could. we have the

remember, bank loans are typically a year or more. whereas money market funds are mostly under 30-day

. >> 1 billion dollar stadium plan already has 850 million lined up from bank loan. nfl contribution is the second hig highest in league history. behind the giant jets stadium. >> goes to show the confidence in the brand of the 49ers in most steroid franchise in the entire nfl history and excitement being here in silicon valley. >>reporter: you can sea pre-construction work taking place at the stadium site but opponent say santa clara residents were misled by stadium financing and they are trying to force the issue become to voters. >> such a great deal why do they not found private investors to buy. why not owning it. why coming on the city of santa clara? this entire scheme has been abate and switch. >>reporter: at this pub in san francisco forty-niner fans support the progress. >> well still san francisco but just not in san francisco. whole big picture having a new stadium. p.m. we need a new stadium. >>reporter: member time yshing said today the niners will definitely be playing in santa clara by 2015 and perhaps as early as 2014. >> yshing also plans to put in

family farmers, this is a registered independent business, which is taxed, which qualifies for bank loans. well, these... these farmers... the heyday of these farmers was most probably in the early '90s, when it was believed that very soon the collectivized system of agriculture would be... you know, fall into oblivion and would give way to family farming western-style. well, it didn't happen in russia, and there are relatively very few really successful ive faers. narrator: instead, most farms continue to function much as they did duri the communist era. then, russian agriculture was in the hands of the state. farms were huge collective operations. today, although most of the collective farms have been privatized to form cooperative enterprises, little has changed. nominally, most collective and state farms have distributed land, divided it into shares, and the titles for these shares are in possession of rank-and-file members of the collective farms. but for all practical purposes, these socialized enterprises, as i would call them, are managed in the same way-- in the same way that the

transportation to millions of americans who otherwise could not afford a vehicle because they can't get a bank loan. >> reporter: and there are plenty of them. 20% of all used car deals are by here pay here. -- buy here, pay here, something ramos says is no deal. >> i feel like he took advantage of me. >> reporter: senator lieu is sponsoring a bill to cap the interest at 17% and have oversight. if you have a complaint, call us at 1-888-5-helps-u. >>> mortgage rates hit another record low. freddie mac says their average 30-year fixed loan dropped to 3.87% this week. that's down from the previous record of 3.88, two weeks ago. still, the housing market is depressed as few people can qualify for a loan or afford to buy. >>> come sunday, one company is going to be using their $3.5 million ad time in the super bowl to benefit children. cars.com is asking viewers to use the shazamm app to tag this commercial during the big game. each tag will generate a $1 donation for one of seven charities on the site's facebook page. the organization with the most votes receives up to $100,000. >>> well, roberta, i th

. >> 1 billion dollar stadium plan already has 850 million lined up from bank loan. nfl contribution is the second hig highest in league history. behind the giant jets stadium. >> goes to show the confidence in the brand of the 49ers in most steroid franchise in the entire nfl history and excitement being here in silicon valley. >>reporter: you can sea pre-construction work taking place at the stadium site but opponent say santa clara residents were misled by stadium financing and they are trying to force the issue become to voters. >> such a great deal why do they not found private investors to buy. why not owning it. why coming on the city of santa clara? this entire scheme has been abate and switch. >>reporter: at this pub in san francisco forty-niner fans support the progress. >> well still san francisco but just not in san francisco. whole big picture having a new stadium. p.m. we need a new stadium. >>reporter: member time yshing said today the niners will definitely be playing in santa clara by 2015 and perhaps as early as 2014. >> yshinglso plans to put in a

small banks that will loan had the big banks won't. and he lost a hand in the afghanistan war so why was this army sergeant court-martialed? those stories when the cbs evening news ohh dear... i'm not sure exactly what happened here last night. i was out helping people save money on their car insurance. 2 more! you're doing it! aren't they doing great?! hiiiiiii!! come sweat with me! keep going richard. keep sweating!! geico. fifteen minutes could save you sweat! sweat! fifteen percent or more on car insurance. i had[ designer ]eeling enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer up to 9 months. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal, events including inf

there are other important factors, notably european central banks, large loaning banks that help stabilize the financial system and many banks in turn use the money to buy short term government debt from greece and portugal and ireland. it's a fairly complex situation. >> let me ask you if they had not passed the os terty budgets -- >> i think the countries like greece and portugal have really no option. they could not borrow. they're excluded from the private market. in order to qualify for funding, they have to restore different balance. they have really no choice. and they are working to try to get to that position. i would say in terms of the united states, i have already described my concerns about 2013. right now i would say that overall fiscal effects on the economy are roughly neutral at this point. we have not taken actions to put the government debt on a sustainable path. >> switching a little bit here. the federal reserve like any banks takes in deposits, liabilities and lends out the fund by purchasing treasury security assets and the federal reserve remits the profits to the t

capably well how do you make money while you make money by pushing the money out in terms of loans and so the banks were basically providing loans to anybody who could stand up straight they were doing it but many of these loans or these mortgage loans were you know had balloon clauses at the end people didn't even know what they were getting now you might say people should have been away or but i don't know about you i have i've bought houses before it's not easy to go through line by law to know exactly what you're doing you have to trust that somebody knows what they're doing and trust basically was not called for because the banks were trying desperately to move the money to create loans to create this entire subprime loan market that padded the pockets of a very a lot of very very wealthy investment bankers and traders and and others but ended you know who ended up holding the bag and it was a lot of average working people who discovered that once the bubble burst they were underwater. and leo hindery as soon as president obama came into office he passed the the americans recovery and reinvest

the world bank loans china the world's second largest economy that without reform it faces a financial slowdown that could take the global system with it. at home and away britain's criticised for cutting spending at home and sending billions of broad in foreign aid to countries who say they don't even want the cash on top stories this hour. international news incoming live from moscow this is with twenty four hours a day washington says the syrian president could be classified as a war criminal but secretary of state hillary clinton stopped short of calling for bashar assad to be prosecuted saying that would leave him with no incentive to step down. has the latest for us now from the u.s. capital. the obama administration has increasingly ramped up its rhetoric as it pertains to syria calling for the president bashar al assad to step down saying that a solution is not possible unless he leaves power these are really immense charges that could mean some significant repr questions for syria a lot of critics have said that this sets the international precedent for interventionism this is

if if you're in that category, you should immediately contact one of your -- the bank that has your loan, and if you have trouble with that, contact your attorney general in the state in which you live. >> speaking of contacting the banks, we showed this earlier. we want to show it again. the phone numbers of the five banks that settled with you and the other state attorneys general. if you have questions and if one bank is your provider, the phone numbers are on the screen. so, again, if you have questions about it, call those numbers. those are the banks that participated in this $25 billion settlement deal. another question for you on twitter from robin. won't this settlement make bank rates increase overall? what about those of us who kept with our mortgages during crisis? will the banks just pass this cost onto the other consumers? >> well, they frankly are not supposed to. it's part of the reason why there's a monitor. why we're going to watch this. that question comes from, i guess, what is a really cynical population and rightfully so about the banks passing on fees and losses. w

a state-backed bank is to lend to two japanese companies from a loan facility that supports business expansion abroad. the facility was created by the government to encourage firms to take advantage of the strong yen in their overseas merger and acquisition deals. japan bank says it will loan $ 00 million to toshiba to help it buy a swiss smart power meter maker. the bank says some of the loan will be made to sony. the takeover will make sony erickson a fully owned subsidiary of the giant. last year the government set aside about $125 of its foreign reserve to set up a loan facility through japan bank for international cooperation. rachel ferguson is up next with weather. >> a drier day for much of japan tomorrow and warmer, too. as we see temperatures rise it will be clear for central locations. we're seeing the influence of a well developed low pressure system. we'll see the snow coming down into friday morning. saturday is going to be cooler and also welt once again for this region including tokyo some rainshowers coming in. before that happens friday should be pleasant and sunny.

is let the free market take care of it. >> greg: let them go. >> eric: i signed a loan when the bank loans i'll pay my loan. my mortgage. make my payments. the bank is expecting me to do that. >> kimberly: he said we don't care about that. i'll do it our way. >> bob: the problem is the contract at the heart of the issue. they were robo signed letters not signed by official. that's the reason they had a case. >> kimberly: that is a whole other issue. >> eric: glad you brought that up. because of the $25 billion that the settlement is, you know how much will go to the ropo signing issue? the victims? >> bob: how much? >> eric: $1.5 million. >> bob: that's a lot. >> eric: are you kidding me? >> bob: you say extorted. you're like greg making the banks free and clear on this. wounded people. >> dana: the other thing is, let's not kid ourselves. where do you think the $25 billion is coming from? all the consumers -- the people that are paying their bill. >> dana: i'm paying my mortgage. >> eric: guess what will happen, if the banks doesn't know if the government will break the deal. what will th

the bank will never give me a loan now. if this business is causing you more worry than pleasure - maybe you should think about selling it. - and then what would i do ? you could start another business. doing what ? this was my dream. then i guess you'll just have to fight for it. i like your idea. i just don't know what weapons to use. i'll get it ! crossroads cafe ? yes, of course. one moment, please. mr. brashov, it's mr. littleton from the bank again. i'm sorry. mr. brashov stepped out for a moment. but i'll make sure that i give him the message. yes, of course i'm sure ! you're welcome. good-bye. - you're going to have to talk to him sooner or later. - i know. but not until i figure out what to do. what are you going to do ? i mean, about us ? i don't understand. - which one of us are you going to let go ? - we need to know, mr. brashov. is it jamal ? where is jamal ? - we haven't seen him. - but he isn't sick. we think he's out looking for another job. is he the one you're firing ? believe me, i don't want to let anyo

asked for. >> reporter: like thousands of who who is, the loftons were given a pick a pay loan from world savings bank type of loan now known as predatory lending. >> they targeted these loans at at the elderly and those who didn't know what was going on. >> reporter: housing advocates say banks like world savings and what co-yeah often took advantage of -- and wachovia often took advantage of these people by offering them the option of low monthly payments but in reality the payments eventually skyrocketed. >> they thought the initial payment would be the fixed rate forever and it turns out it's not. >> reporter: the loftons' bad loan is now owned by wells fargo and even though they're good candidates, the bank continues to refuse modifications. >> if i i'm in the position to pay and you're in the position to help me stay in my home, why can't we work together? >> reporter: so as a last resort, they are hoping to shed light on their fight. >> we talked to someone. they say they're going to work with us. and every time we get a note, sorry, you're declined. >> reporter: wells fargo has agreed to postp

bank this afternoon. she has been trying to get a loan modification since 07. they say after negotiation, a manager agreed to look into her file and told her that union bank now owns her loan. the post at thes say they'll now target union bank -- the protester says they'll now target union bank to modify the loan. >>> campus police have asked protesters to take down tents, but so far, there has been no response from the students. >>> government officials announced a financialment with five of the nation's largest mortgage lenders. the bulk of the money will go to california and florida. nationwide, there are about 11 million homes under water. the settlement helps about 1 million homeowners. how much they can expect. >> reporter: five of the nation's largest banks will put up billions to help homeowners who owe more on their home than it's worth after allegations of improper foreclosure practices, president barack obama announced a $26 billion mortgage relief deal. >> we're going to make sure that the banks live up to their end of the bargain. >> reporter: the d

. >> the stadium plan has $850 million lined up from bank loans. nfl contribution is the second highest in league history, more than santa clara city leaders hoped to secure. >> we're looking at $150 billion. that shows their excitement about being here. >> you can see preconstruction work taking place. the plan calls for a 68,000 seat facility. but opponents say santa clara residents were misled about financing and they're trying to force the issue back to voters. >> if this is a great deal why are they not owning it? why is it coming on the city of santa clara? this scheme has been a bait and switch. >> many fans are cheering the progress moving the ball down build. >> looks like things are moving forward. we're happy to see that. >> jed york says niners will be playing in santa clara by 2015 and perhaps 2014. today's announcement signals there is no turning back and the move south will involve emotions. >> if we're not playing in san francisco, we'll be san francisco 49ers and we'll find great ways to work together to make sure we're part of the

the budget, is support for growth from lower interest rates on treasury is but also indirectly on bank loans. then there is the supply side. we saw work done by 0 s c b of the specialty, they need a specific work on these sort of liberalization measures that italy has been introducing. they and others come to the conclusion that this opening up of markets altogether generate 11% increase in productivity, half of which could be there in the first three years alone rather than in the short term. then of course the global and european policy becomes more extraordinary, and enhance our efforts to the european level and i come here to the second part about structural reforms beyond italy at the e.u. level including germany. i think perez a lot to be done instructor reforms country by country which is responsibility of the various governments but also in part with the european commission for example the fact that the european commission has opened infringement procedures put in legal and politicalexamp european commission has opened infringement procedures put in legal and political stimulus on co