What would FDR think of the bailout plan?
September 23rd, 2008 at 09:43am Pat Cunningham
Franklin Roosevelt’s name occasionally comes up in the debate over a proposed bailout of Wall Street.
John Halpin has some INTERESTING THOUGHTS on FDR and the current situation.
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1. SNuss | September 24th, 2008 at 10:41 pm
Just ask Joe Biden:
Vice presidential candidate Joe Biden says today’s leaders should take a lesson from the history books and follow fellow Democrat Franklin D. Roosevelt’s response to a financial crisis.
“When the stock market crashed, Franklin D. Roosevelt got on the television and didn’t just talk about the, you know, the princes of greed. He said, ‘Look, here’s what happened,’” Barack Obama’s running mate recently told the “CBS Evening News.”
Except, Republican Herbert Hoover was in office when the stock market crashed in October 1929. There also was no television at the time; TV wasn’t introduced to the public until a decade later, at the 1939 World’s Fair.
That reminds me of a quote by Ronald Reagan: “It’s not that liberals are ignorant, it’s just that they know so much that isn’t so.”
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