It was President Thomas Jefferson who once said:
“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.”
Citigroup, Bank of America, Wells Fargo and the other Troubled Assets Relief Program (TARP) recipients are all guilty of not protecting their customers’ assets. They and their counterparts, who have fed from the federal money buffet, have lost touch with reality of personal financial dealings.
Bank of America’s CEO, using a $5 million Gulfstream G5 jet, at the cost of $5,000 an hour to fly to and from Washington D.C. to testify to the fools on the hill, is right out of “The Wizard of Oz.” He should just click the heels of his ruby Gucci loafers and save the taxpayers millions of dollars. Better yet, ask the Wizard for a brain, a heart and a soul.
The insanity is only going to increase until the government quits shoveling money on the fire. The banks have no fiscal responsibility what so ever and need to be broken until they are able to show the American taxpayer they deserve our assistance.
Possibly, they could take Jefferson’s quote to heart, uttered over 200 years ago.
Pressure is boiling over at the thought of this situation.
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Thomas Jefferson supported the strictest limitations on government possible. It would be nice if about 60% of the American voters read up on Jefferson's ideas before they voted in a man who thinks more government intervention is the answer to our problems.
Consider this quote - presumably by Alexander Tytler (1748-1813)
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the Public Treasury. From that moment on the majority always votes for the candidates promising the most benefits from the Public Treasury with a result that a democracy always collapses over loose fiscal policy always followed by dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through the following sequence:
* From Bondage to Spiritual Faith
* From Spiritual Faith to Great Courage
* From Courage to Liberty
* From Liberty to Abundance
* From Abundance to Selfishness
* From Selfishness to Complacency
* From Complacency to Apathy
* From Apathy to Dependency
* From Dependency back into Bondage"
Where do you think we are on this list?
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