Daily Archives: October 27, 2011
San Francisco Giants defeat the Rangers in Game 5 :
Dateline: Earth – October 27, 2011 –
Will Rogers reported, “The senate passed a bill to regulate Wall Street. The government is going to put traffic lights on it; it’s always been a hit-and-run street.”
Rogers witnessed the first Black Friday, the Great Depression, inflation, bankers in cahoots with politicians, and government inaction. Ironically, this world finds itself in a similar predicament now.
Here is another funny Rogers’ line: “The senate’s been investigating Wall Street for ten days, and all they found is that the street is located in the sharp end of New York City; that not only the traders, but the street itself, is short, and that neither end don’t lead anywhere.”
In today’s Op-Ed, Robert Reich writes ‘Wall Street is Still Out-Of-Control’: “Next week President Obama travels to Wall Street where he’ll demand – in light of the Street’s continuing antics since the bailout, as well as its role in watering-down the Volcker rule – that the Glass-Steagall Act be resurrected and big banks be broken up. I’m kidding. But it would be a smart move — politically and economically.”
I pray that Congress will take effective action today and tomorrow. We need political leaders like Teddy Roosevelt, who was president during Will Rogers’ lifetime, to step it up.
Here is more Will Rogers’ wisdom:
“It’s not from a personal view that I am for abolishing banks. It’s just that I don’t think these boys realize what a menace they are. As far as being good fellows, well I have heard old-timers talk down home in the Indian Territory, and they say that Jesse James or the Dalton Boys were the most congenial men of their day, too.”