Wednesday, October 27, 2010
Saturday, October 23, 2010
I generally try and stay away from politics on this blog unless something really torque's me wrong, but today is one of those days. I came across an article today gave some of the details of Obama's upcoming trip to India. During a time of economic Depression for most of us, the details of this simply boggle the mind: "To ensure fool-proof security, the President’s team has booked the entire the Taj Mahal Hotel, including 570 rooms, all banquets and restaurants. Since his security contingent and staff will comprise a huge number, 125 rooms at Taj President have also been booked, apart from 80 to 90 rooms each in Grand Hyatt and The Oberoi hotels. The NCPA, where the President is expected to meet representatives from the business community, has also been entirely booked. The officer said, “Obama’s contingent is huge. There are two jumbo jets coming along with Air Force One, which will be flanked by security jets. There will be 30 to 40 secret service agents, who will arrive before him. The President’s convoy has 45 cars, including the Lincoln Continental in which the President travels.” Since Obama will stay in a hotel that is on sea front, elaborate coastal security arrangements have been made by the US Navy in consonance with the Indian Navy and the Coast Guard. “There will be US naval ships, along with Indian vessels , patrolling the sea till about 330-km from the shore. This is to negate the possibility of a missile being fired from a distance,” the officer said"
-Full family Christmas and New Years in Hawaii.
-March spring break-first lady Michelle Obama, mom Marian Robinson, and both daughters hit Broadway.
-Memorial Day in Chicago with the family.
-Three days in July in Maine, primarily tony Bar Harbor.
-Last week, the president traveled to Chicago for a birthday party with Oprah and others.
-Michelle and Sasha spent much of last week on Spain's southern coast, ending it with a trip to Majorca to meet the king and queen of Spain.
-Florida this weekend for a night on the Gulf Coast.
Thursday, October 14, 2010
In the midst of the Depression, North Dakota Senator Lynn Frazier and North Dakota Rep William Lemke, with the blessing of FDR, introduced the "Frazier-Lemke Farm Bankruptcy Act" which was passed on 28 June 1934. This act effectively delayed the banks right to repossess a farmer's land for five years, though the farmers did have to pay the banks rent, with the amount determined by a judge. It was extended until 1949. Other measures adopted by individual states and the creation of the Home Owners Loan Corp eventually prevented about 90% of all foreclosures from 1934 onwards. For many banks, this was a crushing blow, though it must be said that this act did provide societal stability, which was under far more stress than most of us realize. The Nebraska state capitol was stormed by angry farmers. 25,000 famished war veterans camped in front of the US Capitol were charged with naked sabres by the US 5th Cavalry.. led by one George Patton. Repossessing a home took a lot of courage; many such repo agents were shot; in many cases, the local police refused to help the agent. Banks had shut down in most states; most states in the deep South could'nt pay teachers. In the Depression, a very large part of the nation's food was produced by small farmers, and a decent portion of the population was indeed rural. In many ways, Frazier-Lemke was in large part responsible for keeping the nation from falling apart, which Eleanor Roosevelt fully believed would happen.
Saturday, October 9, 2010
Over the last week or so, there has been a huge mess brewing in the foreclosure processes; Rep. Alan Greyson (D-FL) has called for Congressional inquiries. On Wednesday, Florida halted all foreclosures. Today it got a lot worse: California Attorney General (and gubernatorial candidate) Jerry Brown called for a similar moratorium in California and said he was in talks with a slew of big banks: Wells Fargo, JP Morgan and Bank of America amongst them. New Mexico's AG called for the same.