"Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including the merchants, the industries, and the mills of the country?"
by:
Senator Carter Glass
(1858-1946) Newspaper publisher, US Senator (D-VA), author of the Banking Act of 1933, U.S. Secretary of the Treasury under President Woodrow Wilson.
Source:
during Senate debate on the Banking Act of 1933 (Glass-Steagall Act) [source: Rixey Smith and Norman Beasley, Carter Glass: A Biography (1939)]
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Reader comments about this quote:
return the Glass-Steagall Act!
 -- Al, DC     
  •  
    The American people should not be taxed to guarantee any debts, including General Motors.
     -- jim k, Austin, Tx     
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    As a stand alone statement, ABSOLUTELY ! and the answer to the question is ABSOLUTELY NOT ! ! !
     -- Mike, Norwalk     
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