Category Archives: Government

Are You An Activist Focused On The Real Estate Industry In New York?

long island homes photo

If not, should you be? The term activist when describing an individual, or activism when describing a group of activists focused on a specific issue, conjures up a variety of mental images! And of course the intensity and ferocity of the images will typically vary depending on the scope of the issue and the emotions […]

Political Commentary: Throw All The Bums Out*!

politics photo

Note: Rereading this nonpartisan commentary after it was done I questioned whether it had any place being published in a business venue. However, as all businesses are subject to the impact of both the consequences and unintended consequences that the decisions out of Washington (and our states) create, I determined that it was. Throw All […]

FinCEN Geographic Targeting Orders That Seek To Identify High-End Cash Buyers In Certain Cities Extended!

FinCEN extends the Geographic Targeting Orders

Anti-money Laundering GTO extended for 180 days The Financial Crimes Enforcement Network (FinCEN) of the US Treasury has extended the Geographic Targeting Order (GTO), set to expire tomorrow Feb 24. The new GTO is identical to the current order and will not expand the cities or the dollar thresholds. Borough of Manhattan, N.Y.; $3 million […]

Have Governments And Banks Learned Nothing From The 2008 Financial Crisis?

Government Bonds And Consumer Debt Levels Soar While Bailouts Remain The Norm! This is an excellent read from an article at City Journal! These are some of the general takeaways… Some Key Points: ‘Bailouts remain the norm worldwide’ ‘In 2008, the world’s major central banks held little more than $6 trillion in assets, according to […]

Hallmark Abstract’s News 12 Long Island Interview About The New Suffolk County Mortgage Recording Fees!

Suffolk County mortgage recording fees

On December 2, 2016 Hallmark Abstract President Michael Haltman wrote an article concerning the significant new mortgage recording fees set to be imposed by Suffolk County, New York! In the article Haltman opined that the new fees represented ‘an egregious money grab and as regressive a tax as has been seen in some time! And, by some […]

Nancy Pelosi Opines About Real Estate Closing Costs On Long Island…Affordable! (Video)

New

Update December 7, 2016: The new fee discussed below has been passed by the Suffolk County legislature per the County website… $300.00 per document   MORTGAGE VERIFICATION FEE effective January 1, 2017 In this short video clip Nancy Pelosi opines about the proposed increase in certain real estate fees and the implementation of some wholly new ones by […]

Are Governments Raising Revenue Through Regressive Taxes Disguised As Fees?

  Question: How do government entities, whether federal, state, county or local, raise revenues in ways other than by increasing taxes? Answer: By increasing fees or creating entire new classes of fees. A perfect example of this from the recent past would be the tax map verification letter fee imposed by Nassau County back in early 2015 that was then tripled only […]

Government and Fiscal Irresponsibility

Town of Oyster Bay bond rating

Summary: Note to government: Eventually you runout of other peoples money to spend and when the piper needs to be paid the pockets will be empty! And the burden on business and investors of all types to make-up the deficit can quickly become unsustainable! ‘Long Island’s Town Of Oyster Bay An Example Of What Happens When […]

Unholy Alliances In Government And The Price ‘We The People’ Pay!

Reaching across the aisle is a common term used to describe when antagonists from opposing political parties decide in certain circumstances to work together on a piece of legislation! For example, from the article cited below… “There will be some stew that everyone can put something into.” “I’m not saying that anything is attached . . […]

Nassau County speed zone cameras: The people spoke and this time government actually listened!

Back in October, fresh off of the implementation of the School Speed Zone cameras in Nassau County, the following question was asked… ‘New York school zone speed cameras: Are they just another regressive tax?‘ ‘…Could it be that beyond the safety issue this is an attempt by cash-strapped municipalities to raise revenue by going after […]