Thursday, October 9, 2008

Where is our FDR?

On the banking crisis

Amazing how relevant this fireside chat sounds today. Where is the politician who will come forward and lead in the same way today? "We had a bad banking situation. Some of our bankers had shown themselves either incompetent or dishonest in their handling of the people's funds. They had used the money entrusted to them in speculations and unwise loans. This was of course not true in the vast majority of our banks but it was true in enough of them to shock the people for a time into a sense of insecurity and to put them into a frame of mind where they did not differentiate, but seemed to assume that the acts of a comparative few had tainted them all."

Posted by james @ 12:22 PM (305 views)
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