View Full Version : Did you see the list of banks bailed out?

01-30-2009, 10:57 AM
There were 322 banks on the list - what have they done for us?

Keith Wilson
01-30-2009, 11:20 AM
. . . what have they done for us?Not the right question. The question is what would happen to us if they were allowed to fail?

History may give us a clue: Andrew W. Mellon, Secretary of the Treasury under Herbert Hoover. (http://en.wikipedia.org/wiki/Andrew_Mellon)
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.

Andrew W. Mellon, 1930