Andrew Jackson on Banks...
"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 wish we had more guys like that today... Anyway more apolitical fun posts to come soon... I promise!!
Subscribe to:
Post Comments (Atom)
3 comments:
I think I agree with you now. I've been thinking about it, and it's effen bull sht. BUT I'm still somewhat divided. My agreement is 65/35. From my own selfish perspective, I don't give shit; let it all fall a part. I'm young and I have a PHD!! I'll be ok. But for the other 35: I feel bad for those people that are getting fleeced by the arrogant greedy thieves that understood just enough to take for themselves but failed to give back to keep things growing.
In the end, I worry that the foundation is rotten. if it is 70,000,000,000,000 pennies isn't going to do anything in the long run... who knows how long that is. Maybe it is time for people to suffer again; suffering is good for the soul.
I agree with you on most points there. The American people are in the steerage section of the titanic and the wall street Fat cats are in first class. If the whole thing goes down, guess who's gonna meet the ice water first. They are holding our 401Ks hostage right now. And that is dispicable. My point is that the foundation IS rotten. A bandaid wont help a hemorrhage. We have 3 possibilities..recession now, recession now + bailout, or recession later + bailout. As for credit for payrolls drying up... if your company needs overnight credit to pay payroll.. it has serious problems anyway... We need to enter an era that down payments are needed for a house, Banks actually needs capital from people to function not just credit from a bigger bank. The individual savings rate in this country goes into the positive (it is currently in the red). I think if it was a little harder to get credit in this country it could only be a good thing! No we wont enter the great depression!! that is fearmongering by wall street to try to get bailouts. we have had recessions before and will have them again.
If I were a baby boomer and my stocks rebounded, I'd get the hell out of the stock market and stuff my money under a floor boards... or maybe I would be copper; judging from the price copper wire, that stuff is on the rise!
Post a Comment