Thomas Jefferson had it right that time.

[Pixsurguy]

Thomas Jefferson said in 1802:
''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 property until their children wake-up homeless on the continent their fathers conquered...''

No doubt about it; TJ had it right on that particular occasion. Like all of us, he screwed up many a time, but in that instance he was on the money.


So why is it that the Repubs have always supported big banking and big finance?
Of course, it was a Repub. Congress that allowed interstate banking in the 70's with the result that our nation is now run by a few giant banks and the overwhelming number of small community banks are gone. Thanks a lot Mr. and Mrs. "Conservative".

[hortysir]

I seem to recall more than 500 arrests following the Savings & Loan fiasco.
Why no arrests this time?
Why all the big bailouts?
Becasue Fannie, Freddie, and AIG are Democratic party supporters?

[Pixsurguy]

Originally Posted by hortysir

I seem to recall more than 500 arrests following the Savings & Loan fiasco.
Why no arrests this time?
Why all the big bailouts?
Becasue Fannie, Freddie, and AIG are Democratic party supporters?

Nonsense!!!
But I note that you fail to deal with the substance of the post.
What a surprise!

[Shkeeptareh]

Originally Posted by hortysir

I seem to recall more than 500 arrests following the Savings & Loan fiasco.
Why no arrests this time?
Why all the big bailouts?
Becasue Fannie, Freddie, and AIG are Democratic party supporters?

actually the old fart has it right...

"Is Fannie Mae the Democrats' Enron?
During the Enron collapse of 2002, the public and the media were persuaded that Enron was somehow a Republican scandal, based on little more than senior management's history of contributions to the Republican party.

The ties between the Fannie Mae debacle and the Democratic party are much more intimate than that. Senior Democrats chosen for their political connections - James Johnson, Franklin Raines, Jamie Gorelick - took tens of millions of dollars in compensation out of the company. The ties between the Obama campaign and Fannie Mae are especially intimate: not only did Johnson head Obama's veep-vetting operation, but we learn in this Washington Post article that the campaign that Raines is advising Obama on the mortgage crisis! Well, he should know. Let's just hope the Obama operation is able to keep Raines away from the accounting side of things. Even the amazing Obama fundraising operation could not afford that!

More seriously: Here is potentially the largest financial disaster in American history. The American taxpayer stands to lose billions; Democratic insiders have extracted tens of millions. If Enron was a party scandal ... what is this?

07/16 08:45 AM"

there is tonnes of evidence tying fannie mae and freddie mac to the democratic party. it's party politics in bed with the banking industries that have screwed over this country... it's what Micheal Moore's latest film Capitalism;a love story is all about...

by the way the movie has gotten him in disfavor with a lot of dems as well as he does no favors for anyone in this film... i'm not a fan of his by any means but he did have some good points to make...

it's not just the banking system by itself that is messed up it's when it's tied so closely to government that they are calling the shots.

[hortysir]

Originally Posted by Pixsurguy

Nonsense!!!
But I note that you fail to deal with the substance of the post.
What a surprise!

Then allow me to distract even further and point out that the Federal reserve has done more to inflate and deflate the value of the Dollar more than any 'private bank' cou;d dream of being capable...