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DACA Program Under Attack

President Trump’s administration is determined to undo everything right that the previous government of President Obama had done. From scraping the Obamacare, DACA program is next on that list. The news about the attack on DACA program has caused a lot of jitters to the beneficiaries of this program and groups that fight for the rights of immigrants.

Pressure from Immigration Hard-liners

The effort by these immigration hard-liners cannot be taken lightly given that President Trump had already declared two critical Obama-era immigrants programs unlawful and unconstitutional. The first program, Deferred Action for Parents of Americans (DAPA) has been terminated. The next target is DACA.

Attorneys general from nine states and the governor of Idaho have written to President Trump to ask him to terminate DACA program. By July 5, 2017, Arizona’s representatives had not appended their signatures on the letter. The signatories of this letter are ready to sue the federal government if the president doesn’t abolish DACA.

President Trump has been silent on DACA program. However, this has attracted a lot of criticism from his supporters. Many say they voted for him because of his promise to deal with illegal immigrants. The president had even promised to put a border wall to control the influx of immigrants in the country.

DACA Program

The Deferred Action for Childhood Arrivals (DACA) is a program that was started by President Obama’s administration to allow illegal immigrants who had arrived in the country as minors a chance to obtain a work permit. However, their stay in America is renewed every two years. If the government fails to renew their stay, they would have no option but face deportation.

Under this program, about 800,000 people, commonly called Dreamers have benefited. The program has allowed these immigrants to work and study in America. They have paid millions of dollars for their education. Those that have an opportunity to work have uplifted the living standards of their families. The program has been of great benefit to the beneficiaries and the country at large.

Dreamers Reaction to the Effort to End the DACA Program

Young immigrants’ organizations such as Frontera Fund have not taken these threats lightly and are determined to wage war against this move. Given that the lives of these beneficiaries and their stay in America is at stake cannot be taken lightly. These groups are determined to push back these attempts to abolish this program.

Frontera Fund has taken over the role of providing important information in fighting this move. Besides, the fund will provide guidance and assistance to those interested in this issue to ensure the preservation of immigrants’ rights.

 

Capital Group: The Investment Maestro

Timothy D. Armour is a seasoned investment professional, currently working as the chairman and chief executive of Capital group. He is a proud alumnus of Middlebury College and holds a bachelor’s degree in the specialty of economics.

Mr. Armour’s long and fruitful investment career can be dated back to the year 1983 when he joined Capital Group through the associate group. Despite his youthful age, he became the group’s equity investment manager. He was later promoted to the equity portfolio management committee, where he was one of the eight members. The late Jim Rothenberg headed the committee.

Due to his excellent education and wealth of experience in investment, Mr. Timothy Armour was named the group’s chairperson on 28th July 2015, following the death of Mr. Rothenberg. Speaking after his appointment, he reiterated that capital group management would continue working hard to deliver on their commitments to investors. Capital Group has built a legacy in the investment arena for the last 84 years.

In an article posted on Wall Street Journal, Mr. Armour advises investors on ideas for finding an active manager. According to him, an active manager is one who is able and willing to research widely about the company and its future. He further describes an active manager as one who goes an extra mile and arranges meetings with competitors and distributors. All these moves are aimed at helping the manager to analyze the position of the company in the corporate sector with respect to its financial status and competition.

Under the leadership of Tim Armour, Capital Group has collaborated with the Korea-based Samsung asset management company, with the aim of developing joint investment strategies for investors in Korea. Speaking after entering the partnership, Mr. Timothy Armour said that Capital Group’s goal is to design a system that will take care of retirement, savings, and insurance related needs for the entire investment population in the Republic of Korea.

Armour’s Views About the 2015 Market Selloff

In September 2015, investors viewed China’s economic growth to be “sluggish.” These concerns were scaring investors from both China and its other trading nations. In an attempt to save the situation, China decided to lower bank interest rates for investors. This move provoked market selloff. Bearing in mind that China is a significant player in the global economy, the decline in its stocks will hurt the global economy.

Asked to comment on these developments, Mr. Armour said that the market selloff was necessary and healthy since it removed the pockets of excesses. However, he noted that there was a need to raise interest rates for banks to make profits and, hence, limit undue risks among investors.

Source: http://www.reuters.com/article/us-americanfunds-armour-idUSKCN0HY0EN20141009