"The cardinal maxim is, that any aid to a present bad Bank is
the surest mode of preventing the establishment of a future good Bank."
Walter Bagehot
(1826-1877) British journalist, businessman, essayist
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Reader comments about this quote:
Which is exactly why NOBODY should be bailing out the Eurozone. It's an endless pit of socialist failure. And they're ALL bad banks when they use only "currency" printed out of thin air...it's a house of cards.
 -- J Carlton, Calgary     
    In the USA, the Federal Reserve is the surest mode of preventing the establishment of a future good bank.
     -- Mike, Norwalk     
    Bail outs are in fact what a fiat currency is all about. Look who gets bailed out: Citicorp, Goldman Sachs, Morgan.Chase -- isn't this obvious? These guys are the top banks in the USA and also are listed as the original stock holders of the Federal Reserve. This is the racket -- they bankrupt the competition, steal the savings and property of the producers, and 'level the playing field' so that no one can rise above a predetermined level. The banks do this over and over and over, each time squeezing the populace for their juice. The end result after 100 years of this is that instead of America and Americans being the most productive and prosperous in the world, we and our government are all in debt -- a perpetual debt that cannot ever be repaid. This truly is servitude, and it is accomplished by design. If and when enough of us wake up to this fact, even if we get rid of this system, all our property is already in their hands. Revolution is inevitable -- but they are prepared for that, too, to make sure that after the smoke clears, our 'new' form of government will be complete dependency upon them. When honor and integrity become the modus operandi of We the People, we can and will overcome -- but that is a very tall order...
     -- E Archer, NYC     
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