"Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country?"
~ Carter Glass (1858-1946) Newspaper publisher, US Senator (D-VA), author of the Banking Act of 1933, U.S. Secretary of the Treasury under President Woodrow Wilson.
Tuesday, February 10, 2009
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1 comment:
Maggie,
Unfortunately the answer to Mr. Glass's question is yes, and that the guarantee of industries has also likewise occurred. The question then becomes, "What next?"
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