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October 02, 2008
On bailouts of the banking industry c. 1908
The irony discovered reading the paper from 100 years ago is sometimes too much, even for me. The October 2, 1908 NYT reports on the banking industry's take on a "bail out" plan, of sorts, proffered by William Jennings Bryan (and others): The American Bankers' Association to-day adopted the following resolutions opposing the policy of guaranteeing bank deposits now being advocated by Mr. Bryan: Later in the story we hear from Nathan Straus, "Chairman of the Business Men's Committee of the Democratic National Committee:" He pointed yesterday to the recent failure of two small east side banks and the plight of the depositors as an object lesson of what evil is being wrought by lack of a guarantee for such deposits. Discuss among yourselves. Posted by Craig Depken at 11:20 AM in Economics
Comments
I'm not a regular commenter here but this post reminds me of the first presidential address on film with sound: Calvin Coolidge. I think Don Boudreaux posted it on Cafe Hayek a while ago. Makes you wonder what happened..: http://www.youtube.com/watch?v=5puwTrLRhmw Posted by: colson at October 2, 2008 12:12 PMIf I'm not mistaken, this was an early attempt at what eventually was implemented as the FDIC, not precisely a bailout in the sense of the proposed legislation. I get the historical parallel (I like the irony as well), but are you asking us to discuss whether FDIC was a good or bad thing? Because I'd argue that is quite a different question from whether or not the proposed "bailout" is appropriate. Posted by: William Polley at October 2, 2008 02:47 PMWow. We really are doomed to repeat history. I don't know if I should laugh or cry. Strangely enough, I feel like doing both. Posted by: Mike Hulsey at October 3, 2008 12:54 PMgZbWij oaekdsihhydo, [url=http://hriuwykoytaa.com/]hriuwykoytaa[/url], [link=http://ftcrhtoxrmyw.com/]ftcrhtoxrmyw[/link], http://wrpvumddvcoi.com/ Posted by: jahqqgfnx at October 3, 2008 05:58 PMDear jahqqgfnx, You must be a Keynesian. But, more seriously, even wanting ever-so-hard with the purest of hearts will not suspend the laws of gravitation. Similarly, the laws of economics will be coldly enforced. On this matter, the public bears the punishment brought down by the noble spirit of the dreaming millionaires who pretend guard the common good. Wouldn’t it make more sense to accept the laws--to the extent we understand them--in place of denying them? And to attack these anti-economic fantasies as ruthlessly as we attack a cancer or an axe-wielding psychopath? Posted by: foxmarks at October 3, 2008 08:37 PMVery interesting and beautiful site. It is a lot of ful information. Thanks.: Do not panik! , hot men porn, [url="http://forums.vogue.com.au/member.php?u=92124"]hot men porn[/url], http://forums.vogue.com.au/member.php?u=92124 hot men porn, black pussy pounding, [url="http://www.konaworld.com/owners_area/index.php?showuser=9302"]black pussy pounding[/url], http://www.konaworld.com/owners_area/index.php?showuser=9302 black pussy pounding, tit wank red head, [url="http://www.vidilife.com/index.cfm?f=profile.main&intUserAccountID=1158234"]tit wank red head[/url], http://www.vidilife.com/index.cfm?f=profile.main&intUserAccountID=1158234 tit wank red head, naked stripping videos, [url="http://web.tickle.com/member/u1s4c1"]naked stripping videos[/url], http://web.tickle.com/member/u1s4c1 naked stripping videos, Posted by: Flavia at October 7, 2008 02:37 PMAgree with you. , busty blonde blowjob, [url="http://blonde-blowjob.topxxxworld.com"]busty blonde blowjob[/url], http://blonde-blowjob.topxxxworld.com busty blonde blowjob, girl naked in public, [url="http://naked-in-public.topxxxworld.com"]girl naked in public[/url], http://naked-in-public.topxxxworld.com girl naked in public, guys that lick and suck pussy pictures, [url="http://pussy-pictures.topxxxworld.com"]guys that lick and suck pussy pictures[/url], http://pussy-pictures.topxxxworld.com guys that lick and suck pussy pictures, bisexual orgy, [url="http://bisex.topxxxworld.com"]bisexual orgy[/url], http://bisex.topxxxworld.com bisexual orgy, Posted by: Kent at October 9, 2008 01:49 PMReally great site with alot of good information!! Keep up the good work!!!!: |
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