Winston Smith
07-21-2010, 08:48 PM
Excerpts from blog, link at end
In the midst of America’s greatest financial crisis, FDR “called in as the financial doctors the very operators responsible for the crisis—as sensible a policy as allowing the lunatics to run the asylum,” according to Antony C. Sutton, economist and Wall Street historian.
[SOUND FAMILIAR????]
Thomas Ferguson, political scientist and professor at the University of Massachusetts, Boston...
“The too-big-to-fail problem is not even tackled,” but rather it may “lock in” the positions of the largest banks. The new council of regulators contains “precisely the people who failed.”
Antony C. Sutton was a supporter of Ludwig von Mises and Murray Rothbard, and quotes both in Wall Street and FDR. Needless to say, he favors free-market principles, and reprimands the Roosevelt administration for acting on behalf of big-business to undermine the medium and small businessman.
He writes that “under impartial rules of a competitive laissez-fair society” great monetary wealth could not be accumulated. In other words, abundant wealth needed “state protection” in order to secure a “legal monopoly”. This, he says, was the original motive for FDR’s economic reform. His evidence is compelling.
Like today, the reform was backed and written by devious individuals with questionable pasts and allegiances. Like Obama, FDR’s campaign was heavily financed by Wall Street. Like Obama, FDR didn’t forget his supporters. Herbert H. Lehman, of Lehman Brothers, was FDR’s chief political advisor. His NRA administrator was V.P. of DuPont and General Motors.
Gerard Swope, president of General Electric, introduced the Swope plan in America (said to be “in its details” Roosevelt’s NRA). At the same time, Walter Rathenau, head of German General Electric, introduced the Rathenau Plan. General Electric was a Morgan-controlled company.
[Keep in mind what year this was]
In sum, the Swope Plan was a transparent device to lay the groundwork for the corporate state by defusing potential labor opposition with a massive welfare carrot.”
Today, focus on social incentives is a major selling point for the administration, be it healthcare or finance reform. However, the simple fact is that both pieces of legislation have been heavily criticized for potentially monopolizing entire industries.
Read blog (http://noguidestone.wordpress.com/2010/07/20/finance-reform-then-and-now/) (these are random excerpts, blog also reviews current reform bill and its authors/regulators... you guys may find this part in particular interesting tho... enjoY :)
In the midst of America’s greatest financial crisis, FDR “called in as the financial doctors the very operators responsible for the crisis—as sensible a policy as allowing the lunatics to run the asylum,” according to Antony C. Sutton, economist and Wall Street historian.
[SOUND FAMILIAR????]
Thomas Ferguson, political scientist and professor at the University of Massachusetts, Boston...
“The too-big-to-fail problem is not even tackled,” but rather it may “lock in” the positions of the largest banks. The new council of regulators contains “precisely the people who failed.”
Antony C. Sutton was a supporter of Ludwig von Mises and Murray Rothbard, and quotes both in Wall Street and FDR. Needless to say, he favors free-market principles, and reprimands the Roosevelt administration for acting on behalf of big-business to undermine the medium and small businessman.
He writes that “under impartial rules of a competitive laissez-fair society” great monetary wealth could not be accumulated. In other words, abundant wealth needed “state protection” in order to secure a “legal monopoly”. This, he says, was the original motive for FDR’s economic reform. His evidence is compelling.
Like today, the reform was backed and written by devious individuals with questionable pasts and allegiances. Like Obama, FDR’s campaign was heavily financed by Wall Street. Like Obama, FDR didn’t forget his supporters. Herbert H. Lehman, of Lehman Brothers, was FDR’s chief political advisor. His NRA administrator was V.P. of DuPont and General Motors.
Gerard Swope, president of General Electric, introduced the Swope plan in America (said to be “in its details” Roosevelt’s NRA). At the same time, Walter Rathenau, head of German General Electric, introduced the Rathenau Plan. General Electric was a Morgan-controlled company.
[Keep in mind what year this was]
In sum, the Swope Plan was a transparent device to lay the groundwork for the corporate state by defusing potential labor opposition with a massive welfare carrot.”
Today, focus on social incentives is a major selling point for the administration, be it healthcare or finance reform. However, the simple fact is that both pieces of legislation have been heavily criticized for potentially monopolizing entire industries.
Read blog (http://noguidestone.wordpress.com/2010/07/20/finance-reform-then-and-now/) (these are random excerpts, blog also reviews current reform bill and its authors/regulators... you guys may find this part in particular interesting tho... enjoY :)