Saturday, January 31, 2009

Banking Bailout - Jefferson Calls It 200 Years Ago

For as much as goverment officals like to envoke the name of the founding fathers to justify their course of action I doubt any of them have actually studied the founding fathers and the principles and warnings laid out by them.

"I sincerely believe... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale."

--Thomas Jefferson to John Taylor, 1816.


Travis Erwin said...

Too bad Jefferson isn't around. We could use a mind and leader of his stature right about now.

Rocketstar said...

Jefferson was awesome.

houstonmacbro said...

I think he and others of his time really saw things for what they were worth. Nowdays, I think people just want to see how much they can gank the system.