Written By Ryan Mack, President of Optimum

In the land of democracy, governed by the rule of law, it is crucial that we keep tabs on those who are creating the legislation that dictates much of the activity in our lives. Much of this country’s path has been determined by who we vote for and how they perform in office. However, the “record” voter turnout for the most recent Presidential election of 2008 was only 56.8%. That is almost half this country didn’t even care to participate in the process that can help determine the size of their social security check, how much they will pay in taxes, which businesses will receive funding, and many other issues.  During the mid-term elections the turnout number was even lower at 37.1%!

It is definitely important to vote, but we must also make sure we don’t fall asleep at the wheel and hold our elected officials accountable. I live in Brooklyn, New York the best way to find out what my elected officials are up to is to ask them personally. I started with my Congressman of the 10^th Congressional District of Brooklyn, New York who is Congressman Ed Towns.  I taped our conversation so not only I could be informed of his views, positions, and activity…but I felt everyone should be informed as well. I also wrote 10 of his most noteworthy decision he has done this year alone. He has definitely kept very busy and I not only thank him for the interview, but also for the tremendous amount of service he has provided my community.

I urge all to make sure they take the time to become informed of the activity of your local politicians because so much is decided in our communities from the decisions and the aftermath of the voter booth. I challenge all of you to find out, “What has YOUR Congressman done for you lately?!?!” 

Ryan Mack Interviews Congressman Towns – Part One (Airline Legislation, BP Oil Spill)

Ryan Mack Interviews Congressman Towns – Part Two (Job Creation)

Ryan Mack Interviews Congressman Towns – Part Three (The Economy)

Ryan Mack Interviews Congressman Towns – Part 4 (The Myth of a Stagnate House)

Ryan Mack Interviews Congressman Towns – Part 5 (Afghanistan)

Ryan Mack Interviews Congressman Towns – Part 6 (Health Care & Financial Reform)

Ryan Mack Interviews Congressman Towns – Part 7 (Immigration Reform)

Ryan Mack Interview Congressman Towns – Part 8 (Same Sex Marriage, Education)

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Ryan Mack’s “What Have You Done For Me Lately” Action-Result Scorecard for Congressman Towns

August 11^th, 2010

ACTION: Congressman Towns Helps to pass H.R. 1586, the Education Jobs and Medicaid Assistance Act.

RESULT: Provided the state of New York with more than $2.2 billion in critical funds that help budget shortfalls $607 million of that went to fund education.  In the Congressman’s 10^th Congressional district the legislation will keep more than 650 K-12 teachers in the classrooms teaching, and many police officers and firefighters on the streets of Brooklyn.  The legislation is not only fully paid for but reduces the deficit by $1.4 billion over 10 years.

August 5^th, 2010

ACTION: Congressman Towns introduces legislation to end unfair airline ticket policies. 

RESULT: The “Consumer Protection in Airline Ticket Validity Act of 2010” (H.R. 5930) will give airline customers greater freedom when rescheduling or canceling flights. This will also bar extraneous extra fees including those for checking in luggage.

August 3^rd, 2010

ACTION: Congressman Towns voted to hold oil companies accountable and protect gulf residents and the environment.

RESULT: The Consolidated Land, Energy, and Aquatic Resources Act of 2010 (“CLEAR Act”) holds BP and responsible parties accountable for the oil spill in the Gulf of Mexico.  This also aims at administering a strong set of reforms that will prevent future oil spills and protect coastal communities.

July 22^nd, 2010

ACTION: Congressman Towns helped to secure extension of unemployment benefits.

RESULT: President Obama signed into law the Unemployment Compensation Extension Act of 2010 (H.R. 4213) that will retroactively extend unemployment benefits to millions of American families, including thousands who are currently unemployed in the 10^th Congressional District of Brooklyn, through November 30, 2010. 

July 20^th, 2010

ACTION: Congressman Towns moves to affirm a citizen’s right to photograph police activity.

RESULT: Introduced H.Con.Res 298 which was a resolution that recognized that the videotaping and photographing of police engaged in potentially abusive activity in a public place should not be prosecuted in State or Federal courts. As many individuals within the 10^th Congressional District of Brooklyn are now banning together to help reduce instances of police brutality by videotaping police activities in public this resolution strikes a balance between the rights of police officers to diligently perform their duties and the rights of citizens to film them to insure proper law enforcement conduct.

June 11^th, 2010

ACTION: Congressman Towns intervenes to help save 45 families’ homes in East New York.

RESULT: 45 families near the Meadwood at Gateway complex were in danger of losing Federal Housing Administration (FHA) loans to purchase homes but Congressman Towns intervened with other interested partners and concerned lawmakers to make sure that the much-needed mortgage option was saved.   

May 26^th, 2010

ACTION: Congressman Town introduces amendment to protect blind, bicyclists, elderly and wheelchair bound pedestrians from dangers of quiet cars.

RESULT: This bipartisan amendment to the Motor Vehicle Safety Act, which already established new automobile safety standards and made motor vehicle information more transparent, required new electric and hybrid vehicles to provide an alert sound to enable pedestrians to discern vehicle presence, direction, location, and operation.

March 21^st, 2010

ACTION: Helped pass the landmark health insurance reform legislation, H.R. 4872, the “Patient Protection and Affordable Care Act.”

RESULT: The largest reform of the health care system in the history of the country. 32 million Americans living without health insurance know that they will soon be able to get coverage. The bill was not only paid for but will reduce the federal deficit. 

February 1^st, 2010

ACTION: Congressman Towns secures $250,000 for the Brooklyn Children’s Museum.

RESULT: The museum will be able to expand their services and activities. The funding was came from the Transportation, Housing and Urban Development and Related Agencies Appropriations Act of 2010 which was approved by the House last August and was included in the Consolidated Appropriations Act of 2010 that President Obama signed into law in December 2009. 

February 1^st, 2010

ACTION: Congressman Towns secures $650,000 for St. Francis College’s Project Access Program.

RESULT: Funds will be used to support St. Francis College’s comprehensive tutoring and mentoring services for students who often lack the grades and test scores generally needed for college admission. Rep. Towns initially secured $770,000 in 2008 for the program as it has proven to be effective in boosting GPAs of underserved youth in the Brooklyn area and help to achieve progress toward achieving college.  Funds will be used to invest in innovative research facilities that will give more minority students the opportunity to pursue careers in science, health care, and information technology.

Written By Ryan Mack, President of Optimum

On August 7th, 2010 The Optimum Institute of Economic Empowerment took to the streets to conduct one of the most fun programs that we have ever done. We conducted the “Shape Up Your Finances” Economic Empowerment tour which consisted of visiting barbershops and beauty salons throughout Brooklyn, NY with the intent of igniting conversations about one of the most infrequently talked about topics that you hear in the barbershop…fiscal responsibility.

Sure you might hear about how much money other people are making such that famous athlete who signed that multimillion dollar contract. You might hear about how much money that famous celebrity spent on his/her wedding. However, why is there hardly ever a conversation about the importance of building personal wealth and how to go about doing it? This is what this tour addressed but this also leads to a larger issue…why are we so timid to talk about money?

The economy crashed in 2007 because of many factors, but one of the largest factors that lead to the demise of US markets and global markets was fiscal irresponsibility on multiple levels. The Government was spending money frivolously, corporations were taking excessive uncovered risk (well…not covered by them but certainly covered by the taxpayer), and too many people were spending tomorrow’s money while racking up debt today. Our control over the government and corporations is limited. We can have our voices heard in the voting booth and lobby for change which may or may not work immediately, or ever. However, we certainly have control over our own personal finances and how we manage them. The problem is too few know how, or choose not to listen to conventional wisdom, when it comes to managing money. One of the best ways to fix this problem is to incorporate this into a regular topic of conversation for the sake of providing more exposure to this problem.

What would have happened if that person who planned to purchase a home who had a 550 FICO score, no money in the bank, and an income that is inconsistent at best had overheard a conversation about the most responsible way to purchase a home? What would have happened if that 35 year old man who was living at home with his mother, between jobs, and still wanted to figure out a way to lease a new Range Rover because it was cool overheard a conversation about the dangers of consumption and how to start a new business? What would have happened if that mother who lived in public housing with a room full of furniture from Rent-A-Center overheard a conversation about financial predators and how much money we waste on interest that we could have saved? What would have happened to these people…better yet, what would have happened to our country? We yell and scream at the television screen for change but turn right around and throw our change in the garbage.

More than in the barbershop, we need to talk about our personal finances around the dinner table. We need to talk about our personal finances with our friends and family members. If you going to a great personal finance workshop, have a financial planner who really takes the time to teach you about money, or finished reading a great book by an author like Suze Orman tell somebody about it! Blast the information on Facebook, send it to your group on Linkedin, call your friend and let them know what you have learned…it is no longer acceptable for any of us to have this mindset that we are going to grow by ourselves. Sharing information is paramount if we are going to start a movement of social change as it relates to our finances.

On the other side, if you hear someone talking about money, pay attention. What are they saying? Are they correct? Take the information and go home and read a few books to see if what they are saying is correct. It is great to take information from people, but your knowledge base should be the best defense against being led astray. You don’t have to be a financial expert, but you should know at least the basics about money before you see a financial advisory, mortgage broker, accountant, or any other advisor who can have an impact on your finances. If I know that by stealing a car I will go to prison if I get caught, that doesn’t make me as smart as an attorney…that only means that I have enough knowledge of law to keep myself out of trouble. The same principle applies to your personal finances.

The Optimum Institute of Economic Empowerment is a non-profit that is trying its best to participate in a grass roots effort to change the way we think, feel, and act with our money!

To see a video clip of the “Shape Up Your Finances” Empowerment Tour click here…

By: Andrew Bruskin

Editor-in-Chief, All About Business

I was walking to lunch, taking my usual route along court street. I approached the Court- Livingston Street intersection, two blocks from the court system, when I saw a man in his upper fifties. He was African American, wearing raggedy blue jeans and a brownish-grey shirt. He was on the side of the road begging—not for money—but for water.

“Please help me…I haven’t had anything to drink for two days” were his words as passerby’s on the street walked past him, barely giving him notice. “Shouldn’t I help him?” were my thoughts as I too walked past the man and entered the nearby chinese restaurant.

I emerged several minutes later to still see the man, with his empty cup, scouring the street asking passby’s for water. And still I saw random pedestrians give him the cold shoulder.

Standing in front of the chinese restaurant, I decided to take action. I went to the nearby deli, where I bought a bottle of water for a mere $1.25. Upon exiting the store and holding my to-go chinese food, I delivered the cold poland spring bottled water to this man.

“Thank you! Thank you!” was his reply as he started taking huge gulps of water. “Not a problem” was my only response as we parted ways and I went back to the office.

I write about this not because of this benevolent act I bestowed upon him. I am writing about this because of the utter disregard and callousness of the random pedestrian who passed this man by without even giving him a moment’s notice.

I can understand why people may not want to give an individual money. I usually do try my best to give someone money if they ask for it (even if it is only a quarter or two), but someone who is asking for a basic necessity is an entirely different matter.

How easy would it have been for an individual to venture into a nearby store and deliver this man—or any other man/woman/child on the street in the same predicament—one cold bottle of water? You are not performing surgery—you are simply sidestepping several minutes of your time and assising someone who is in need. Sadly, many people simply do not want to be bothered.

I fully believe that the action I displayed today is a duty. This should not even be labeled under ‘generosity’ or ‘benevolence.’ The sad truth is that the action fits the label because the vast majority of people would have kept walking, not giving this individual a glance or thought.

What would have happened to this man if I was not there? What about all of the other people who ask for basic necessities and are shunned by society?

The world is cruel because ordinary people allow it to be cruel. We need to change as a society and become more compassionate towards our fellow human beings. We all need to start helping our communities, colleagues, neighbors and even complete strangers.

If this does not happen, what will happen when you are in need?

Andrew may be reached at Andrew.Bruskin@gmail.com or on Facebook.

By: Ernst Ducena
OIEE Contributor

Nearly two years after the collapse of Lehman Brothers, and after intense debate, negotiations and concessions to politicians and lobbyists, congress finally passed financial regulation reform; or something to that effect. While being hailed as the most sweeping reform seen in financial regulation since the Great Depression, the Dodd-Frank bill, named after co-authors Senator Christopher J. Dodd (D-CT) and Representative Barney Frank (D-MA), falls far short of those aspirations.

The economic meltdown of 2008 was due in large part to failure of existing regulation to keep up with the expanding complexities of finance. In that regard, the Dodd-Frank bill added nothing new. Instead of clear guidelines, the bill, with many watered-down proposals, creates new agencies and new regulators with more authority than before without concretely addressing some of the factors that contributed to this mess in the first place. Consider this statement from Senator Dodd: “We can’t legislate wisdom or passion. We can’t legislate competency. All we can do is create the structures and hope that good people will be appointed who will attract other good people.” In other words, we will put just put in new people and hope they are good enough do their job effectively. How is that any different from what we had before?

One key component, and one of the few bright spots, of the new bill is the creation of the Consumer Financial Protection Bureau-a new federal agency tasked with policing the loans and other related products and services that banks and others sell to individuals. This should make loans more transparent and easy for consumers to understand. Rules will also be implemented to protect consumers from predatory lending practices by banning “no-documentation” mortgages and lender kickbacks to brokers for originating high-cost loans. In addition, lenders will be required to provide a credit score to consumers when adverse action, such as being denied a loan or getting less favorable terms, is taken against a consumer as a result of their credit score.

Another key component of the bill is the Financial Stability Oversight Counsel. This group of regulators will be tasked with monitoring systemic risk and making recommendations to the Federal Reserve, who will then create stricter rules regarding capital, liquidity and risk management. The Counsel’s intent is to end the “too big to fail” policy of the last two years, where companies who were so big that their failure would produce catastrophic results for the overall economy, were bailed out using tax-payer money. The Counsel will have the authority to dismantle firms that pose a risk to the overall system, however the guidelines for how this is to be done remain to be seen.

The issue of “too big to fail” would have been much more effectively addressed with the “Volcker Rule”-named after Federal Reserve Chairman Paul Volcker. Under the original Volcker Rule banks would have been barred from practices such as proprietary trading and investing in hedge funds and private equity groups. Under the revised version of this rule, however, banks can invest up to 3% of their capital in hedge funds and private equity groups. Three percent may not sound like much, but when considering that 3% each of JP Morgan, Citi, and Bank of America’s add up to over $11 billion, we get more perspective on how much money is involved. Furthermore, this 3% limit does not significantly curb the amount of money these banks already commit to those practices.

The Dodd-Frank bill’s implications for the average consumer are, at best, uncertain. The creation of the Consumer Financial Protection Bureau, although a positive, still has its limits. For example, auto dealers, which provide financing for car buyers, are not under the Bureau’s jurisdiction, which means they can proceed with business as usual. The bill’s failure to adequately address “too big to fail” creates a lot of uncertainty in the event regulators have to take action concerning a company who poses a threat to the economy. We are essentially back at square one: relying on regulators’ judgment as opposed to preventive measures that make a similar collapse less likely. And since many of these new rules will take years to implement we can only do what Senator Dodd so eloquently stated: we can only “hope that good people will be appointed who will attract other good people” and do what needs to be done.

To ask for regulations that guarantee the prevention of future recessions, or even a collapse, would be grossly unfair and unrealistic. Business and financial innovation will always be a step ahead of regulations since regulations are reactionary by nature. However when what we pass for reform come well short of addressing the issues we already know about, we can hardly call that reform.

Ernst Ducena holds bachelor degrees in French and Psychology and a master’s degree in Psychology. Upon graduation, Ernst worked as a social services professional before transitioning into the field of financial services. Ernst currently holds a General Securities Representative (Series 7) license.

by: Megan Yarnall

Writer, All About Business

I recently started working near Madison Square Park in Manhattan, and for the first few days, a man at the top of the stairs to the subway startled me. The same man was there every morning, without fail, making me jump suddenly to the side. Every time it only took me seconds to realize that this man was not real; he is made of fiberglass and iron. Still, he gave me a good fright every morning for the first week.

I began to notice other iron men around the park as I wandered around on my lunch walks. I eventually spotted some on top of buildings in part of the surrounding skyline. My friends joked that perhaps part of the public art project with the Iron Men was suicide watch – why else would they be on the edge of these skyscrapers? I got to digging around and discovered that these iron men were part of Madison Square Park’s public art projects, and that particular exhibit is Antony Gormley’s Event Horizon.

I love public art because it adds color and vivacity to a city or a public space – it is a positive addition to a landscape, and it inspires public education instead of a dull view. In the middle of Manhattan, Event Horizon makes you stop and wonder how many other details you’re missing in The Big City as you rush through the normal day and are suddenly started by a man next to you in the square or a man on top of a building. Part of the point of the project is perspective, according to Antony Gormley himself. In my interpretation, these iron men can only look in one direction, and each has a unique perspective from his station in the park or on a building. How does this apply to us in society today? How narrow, or wide, can our views stay or stretch? How stationary are we? From where do we obtain our perspective? What can we look at and find from where we are, and how far can we go from there? Gormley also expresses that his project questions the gaze, meaning the sight of the statues and its scope. Coupled with their stationary position, in which no part of the body can be moved or shifted, viewers are moved to consider their own embedment.

Much of my English degree education was influenced by perspective and point-of-view, but with this project it seems that not everyone needs a college degree to learn about this. All they have to do is pay attention to the works around them. Public art offers a free education to those who would like to grasp it – which seems much like education in the first place: an experience from which you get what you put in.

These iron men on the street corners and on top of skyscrapers around the park are meant to represent us, and inspire us to consider our perspective of the world. The physical body – ours and the iron ones of these men – limit our frame of reference to the world. An event horizon by definition is a boundary surrounding a blackhole, creating a line past which nothing can be affected by events of the universe. Antony Gormley encourages us to think about our own Event Horizon with his iron men. The use of public art in such a fashion enables greater access to education – free education – to those who wish to learn more about the work and its message. Further, one of the purposes of education is to appreciate the world around us and understand its beauty, its troubles, and its limitations. Event Horizon, and other public art works, educate us in just this way. Not only can you get a shake, relax on a bench, or play Frisbee in the park – you can get a free education. If nothing deeper, you can always get, as I heard one girl label it this morning, “a rough education in accurate male anatomy.”

Event Horizon is displayed throughout Madison Square Park in New York at 23rd street and Madison Avenue until August 15, 2010.

Megan Yarnall recently graduated from Dickinson College with a BA in English. She also studied creative writing and Italian and currently writes freelance articles for Demand Studios. She also continues writing both fiction and nonfiction, and working on photography. Her photos can be found at www.meganyarnall.wordpress.com and her writing can be found at www.megtaylor.wordpress.com.

One may ask why America needs to rebuild. When the average person looks at our sagging economy, our crumbling financial markets, our legal layovers, our political debacles and our educational mishaps, one can see why America needs to “Rebuild.”

This process won’t happen with bureaucrats or even our businesses. It will happen with YOU–the American citizen. Please join All About Business (AAB) for a night of discussion at Touro Graduate School of Business where a team of panelists will speak about this very topic: what can America do to help rebuild these broken systems?

Panelists, among others, include:

RYAN MACK, President, Optimum Capital Management; CNN Contributor

HON. CHUCK LESNICK, President, Yonkers City Council

DIAMOND WEISSERMAN, United Nations

HON. GEORGE MARTINEZ, Founder, Global Block Foundation and US Cultural Envoy to Latin America.

MICHELL MITCHELL, Executive Director, The Phenomenal Women’s Group, Inc.

VINCENT MORGAN, Founder, Harlem NOW

MICHAEL DESTIO, Assistant Superintendant, Half Hallow Hills School District

DARNELL CANADA, Founder, REBUILD

MODERATED BY: DIANE KING, Business Anchor, NY1

To register for this event, you MUST RSVP at: http://rebuildingamerica.eventbrite.com/

This is an event you will not want to miss! Space is LIMITED and tickets are going FAST!

All About Business (AAB) is a global program run by the Optimum Institute of Economic Empowerment, Inc. geared towards the spread of ‘empowerment’ through social movement and grassroots advocacy. Our purpose is to cultivate talent among our youth and encourage them to become active members of the community through leadership, philanthropy and professional responsibility. We seek to provide educational services for the general population through panel discussions, media outlets, seminar events and networking opportunities. We are committed to provide community service projects and professional development programs for neighborhoods in need and to inspire all people to create the positive change they wish to see in the world. AAB is under the umbrella of the Optimum Institute of Economic Empowerment, a non-profit organization founded by financial entrepreneur and CNN commentator Ryan Mack. See More

Elisabeth Greenberg, writer for All About Business, has a brand new article up about her experiences at her first “real” job in the retail sector. Check it out here, or visit www.allaboutbiz.org.

by: Clair Schwan

OIEE Writer

Looking back, it’s easy to identify why education was important for me, and it’s easy to explain why it’s important for you. The important question to answer is: can you see why it’s important for you? Sometimes that’s difficult, especially when you’re facing it or going through it. Years of education can seem like a lifetime of effort. Often school can be tedious, and there are many more entertaining things to do than sit in a classroom. Nevertheless, instead of viewing your school work as a lifetime of effort, think of it as an investment of a lifetime – an investment in you and your lifetime…

To continue reading this newsletter, please click here

by: Andrew Bruskin

Director, Media Publications, All About Business (AAB)

It was May 7^th and it was my first day of work.  I was on the Long Island Railroad (LIRR) heading to a law office, located in downtown Brooklyn.  I had no clue what to expect.

“Andrew, close the door.”  These were the first words my boss told me as the door slowly closed and I took a seat.  “Andrew, I run a very tight business here.  Don’t mess up my cases.”

And so started my summer internship at a law office in downtown Brooklyn.

I learned much at this summer job, including things I never knew at law school.  Here are just some of those things…

To read more of this newsletter, please click here

FOR IMMEDIATE RELEASE

*** Please Post and Publicize ***

For Information Contact:

Kareem Hertzog, Executive Director

The Optimum Institute of Economic Empowerment, Inc.

Phone: 877-758-3224 

Email: info@optimuminsitute.org 

Optimum Cleans Up Brooklyn

On July 10^th, 2010 in direct response to the high amounts of litter in the community resulting in pricey sanitation fines for small businesses and suffering property values, The Optimum Institute of Economic Empowerment (“OIEE”) decided to take a stand against filthy streets by organizing a full day to pick up trash. It is common to see those charged with a crime to have to pay a penalty of community service that you will see out removing litter from the streets; however, Optimum organized a group of over 50 volunteers who were willing to congregate and do the same simply for the love of their community!   

From 8:00am to 12:00pm, volunteers for the OIEE filled multiple bags of trash as they walked down Fulton Street in Brooklyn, New York.  They began on the corner Ralph Avenue and Fulton Street, and walked three miles in the hot sun to their final check point of Lafayette Street and Fulton.  Prominent members of the community who joined the effort were Phillip Kellogg – FAB Alliance Director, Mike Rafferty – Bedford Stuyvesant BID President, Paul Cain – Hip Hop Artist, and many members of the Brooklyn community. 

Phillip Kellogg, FAB Alliance Director stated, “It was encouraging to see so many people out who were so concerned about what I am fighting everyday…litter. Hopefully this will help to make my job easier as more people become more aware of the problems caused by litter in the streets.”

Ryan Mack, President of The Optimum Institute of Economic Empowerment stated the following as he finished walking three miles of litter removal, “I can honestly say that while I have always known that litter was destructive, I now have a new outlook on each piece of paper that I see on the street in my community because I helped to keep it clean…we all took ownership of this issue of litter in our streets. If more people would take the time to participate in events such as this there is no doubt that more people would join in the fight. We didn’t organize this event to take the place of those organizations whose job it is to keep the streets clean, we set out to prove a point that there are many people in the community who are willing to take a stand against filthy streets and today we were successful.”

Kareem Hertzog, Event Organizer and Executive Director of The Optimum Institute of Economic Empowerment stated, “This was a great day for the community. You saw over 50 professionals who could have been doing any number of things differently on a Saturday come out to pick off trash from the streets and say NO MORE to litter, NO MORE to a lack of pride in their neighborhood, and NO MORE to the mentality of letting someone else do the fighting that should be done by ourselves. We made an impact today…we made a difference today…let’s keep this going through tomorrow and beyond!”

Click here to view video of Ryan Mack interviewing volunteers of the clean up…

About The Optimum Institute of Economic Empowerment

OIEE has a mission to create and implement tangible economic empowerment programs. As a change agent OIEE will develop and administer programs that will focus on teaching and increasing exposure to principles of financial literacy within communities of need.  Working individually and also in collaboration with other community constituents, OIEE believes that individuals, businesses and communities can be educated to understand and adhere to those financial principles which will serve as a solid foundation for future economic growth and sustainability.