Wednesday, October 1, 2008

Senate votes today -

"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."

---- Andrew Jackson, 7th US President

17 comments:

  1. A good blog-friend prodded me to reread "Atlas Shrugged" about a year ago. It absolutely resonates today. Strip away the period setting of trains, cigarettes and smoke-belching factories which were life in the forties, and the dialog fills the mouths of the pandering politicos of America.

    I listen to the harping about "fairness"--a euphemism for socialism and sincere comments that free markets don't work but must have government establishing rates and wages and prices then I want to withdraw from what we have become.

    Where are the Dagny Taggarts and Hank Reardons of today?

    What became of individual responsibility?

    I've gotta get to the gunshop and order that SOCOM today. Gotta!

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  2. Nicely said. Both then, AND now! Thank you for sharing.

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  3. I love it. The more things change...
    Much success on your current trip, BTW.

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  4. Brilliant quote. Too bad we don't have an Andrew Jackson to stand up for us today.

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  5. Wow!
    Nicely put, and my sentiments exactly.
    Profit and loss.
    Risk and reward.
    If we bail out the banks, they'll take the money AND STILL evict all those people who have those so-called "toxic" mortgages. Mortgages sold to them by those same bankers.

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  6. Great quote!!! Congress shows their true colors, screeching, fighting and picking lice like a band of baboons.

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  7. It couldn't have been said any better.

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  8. History repeats it's self

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  9. Where is Old HIckory when we need him?

    Didn't he also pot some yahoo off the White House porch with his personal handgun? I seem to remember something about that.

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  10. 'Tis a sad thing that history surely repeats itself, yet still we allow people to govern us who, convinced of their own innate superiority, refuse even to entertain the idea that what they're doing has been done before.

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  11. Amen, Andrew!
    It grieves my heart to know we have no President or politician who firmly believes in the Constitution today. But what grieves me even more is the irrationally small number of citizens who believe in the Constitution, much less have any desire to support it with raised voices or, if need be, raised arms.
    Shy

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  12. A perfect quote for the times.
    Well done!

    As I hear more and more details of this 'crisis', I get more disgusted with each passing moment.

    What's missing in part is recognition of the new situation involving the internet and social communications.

    In what other time in history would I be able to discover that a leading political proponent of this fiscal rape is also a lawyer who filed a class action suit to force banks to make exactly the loans that are failing now? In what other time would an individual citizen be able to track how much money each senator has been given by the proposed recipients of this public largess?

    In what other time would these people not land in prison, or worse?

    After listening to my students discuss the issue, I am rapidly losing what little faith I had in our future, and that is a painful loss since there was so little to start with.

    Today, I think Jefferson might turn in disgust.

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  13. To use an old Navy term,"I am scared sh**less" for the children of this present generation and for what is facing my grandchildren! What scares me the most is that they get NO unbiased teaching about exactly what it is that the Constitution says, and what it means. "Truly " what it means with out all the misguided and incorrect interpretations attached to it by the group of nine tired old and stupid men! SO they will have no firm basis for evaluating a law waiting to be enacted. That is why in the future we will see more and more of those self serving disasters like CDA and organizations like ACORN trying to be funded by unscrupulous, er make that, "outright crooked" Reps and senators!

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  14. I thought they had this killed yesterday so now they political leaders offer more payoffs to those who said no to get them to vote yes ... Jesus, these jerks need to all be taken out and shot. (figuratively)

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  15. We often forget that we're all roped together on the face of a big cliff at the edge of the economic depression. And yes, some of the obnoxious "captains of the financial world" have fallen, and are dangling, threatening to pull us all down.

    Sure, it makes us feel good to say, "Let them fall!" Feeling, not thinking. Does this bailout really reward the individuals in the financial industry who made the bad decisions? It isn't clear, since a lot of them aren't there any more ... like Paulson, former CEO of Goldman Sachs.

    And what exactly was the bad decision? Seems to me like the government handed them a live grenade, and they all spent a lot of time trying to hand it off to someone else, disguising it a little more with each handoff. Can't say as I blame them.

    We have two choices ... pull them back up, or fall with them. The rope is uncuttable ... because it is the economy. Let them fall, and you can probably kiss your job goodby somewhere in the next year or two. And then your house, when you can't make the mortgage. And then your family, as you can't feed them.

    The question we should be asking is, why did they fall? Or were they pushed? Or to mix my analogies, who pulled the pin on that grenade?

    My experience with bankers is that they don't make high risk loans, given a choice. So I think Everett has it right about the government's complicity, if not outright causation, of this problem. And when the government screws up, we all end up paying for it, one way or another. That's the price of voting/electing poorly. And electing people who want to play social engineer instead of defender of the Constitution.

    So, in the big picture, the chickens have come home to roost.

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  16. Rural, got to disagree with you.

    Those people who were prudent with their money and invested wisely following the well established laws of free market, won't be all that hurt. The only players who will be seriously impacted are those people who really really need to learn a lesson about the free market and why Congress should keep their grubby hands off our tax dollars and for them to quit trying to FORCE economic equality for all. Hard Work, intelligence and Luck are what makes the market, not Centralized Planning from Der Kommissar.

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  17. immagikman,
    I hope you're right. But I'm concerned you're wrong.

    I guess we'll find out when the House votes tomorrow.

    The big dogs at the top are really good at making sure the hit will come in everyones investments, pensions, and retirement accounts. Unless your wise investing means stuffing gold bars in your mattress.

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