Vipers and Thieves
“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”
-Andrew Jackson, 1832, to a delegation of bankers
(quoted by James P. Pinkerton, http://foxforum.blogs.foxnews.com/2008/09/29/jpinkerton_0929/ )
Times really don't change as much as you would think, do they?
I have no regrets that the proposed bailout plan by Congress was defeated today. I think that a little more time examining this issue is absolutely necessary, no matter the supposed dire consequences. A bad day, even a horrible day, for the stock market does not financial apocalypse make.
As for the supposed partisan mess that made the deal implode, I think that was calculated on all sides. Few Congress Reps up for reelection in a matter of weeks want to take responsibility for a fix that is clearly a gamble and terribly unpopular with the voters.
I'm so glad I'm not in Congress.
-Andrew Jackson, 1832, to a delegation of bankers
(quoted by James P. Pinkerton, http://foxforum.blogs.foxnews.com/2008/09/29/jpinkerton_0929/ )
Times really don't change as much as you would think, do they?
I have no regrets that the proposed bailout plan by Congress was defeated today. I think that a little more time examining this issue is absolutely necessary, no matter the supposed dire consequences. A bad day, even a horrible day, for the stock market does not financial apocalypse make.
As for the supposed partisan mess that made the deal implode, I think that was calculated on all sides. Few Congress Reps up for reelection in a matter of weeks want to take responsibility for a fix that is clearly a gamble and terribly unpopular with the voters.
I'm so glad I'm not in Congress.
Comments
Thomas Jefferson warned us over 200 years ago:
'I believe that banking institutions are more dangerous to our
liberties than standing armies. If the American people ever allow
private banks to control the issue of their currency, first by
inflation, then by deflation, the banks and corporations that will
grow up around (the banks) will deprive the people of all prosperity
until their children wake up homeless on the continent their fathers
conquered.' -Thomas Jefferson