Roosevelt (T) and Jackson are History’s Guide To Solving “Too Big To Fail”
We can statistically quantify “Too Big To Fail” in a number of different ways. George Will of the Washington Post is man familiar with the uses (and perhaps the nefarious uses) of quantitative data. He tells us 5 banks hold assets equal to 60% of the GDP. The top 10 banks hold 61% of all commercial banking assets; they only had 26% 20 years ago.
Will’s basically Conservative bent leads him to not be fond of the Dodd-Frank Act inflicted upon American Industry by the current Obama Regime. I certainly agree and sympathize with this point of view. However, not liking Dodd-Frank is one thing, getting rid of it and the systematic problems that made its overreach tenable is a taller order than merely quantified complaining. To actually dismantle the TBTF Empire and the implicit guarantee it enjoys via Dodd-Frank, it may help us to indulge in some Presidential History involving too great men. President Andrew Jackson foresaw and attempted to prevent this problem. President Theodore Roosevelt solved TBTF in some industries other than banking.
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The Democrats Going To Charlotte
The Republican Party lost the White House to a vastly different Democratic Party in 1992 than the lost it to in 2008. The Democratic Party of 1992 represented an effort by the Democrats to communicate with poorer families, living in what are termed “working class neighborhoods.” The modern Democratic Party views these people as a legacy population that the state will just have to support. The difference in composition between the previous Democratic Party championed by Bill Clinton and the newer Democratic Party represented by Barack Obama has led to a situation that has put Barack Obama squarely on the defensive for the past three years of his Presidency. It may well have been the final impetus for The Jacksonian uprising that dubbed itself The Tea Party.
Joel Kotkin writes in the Daily Beast about this phenomenon. He opines that “Barack Obama’s New Chicago Politics Abandon Bill Clinton’s Winning Coalition.” He makes some particularly valid points about the Democratic Party and its new coalition that properly address the New Left gravamen of the Democratic Party. This explains well the policy choices this organization would make if they were given unlimited power.
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The Party of Jefferson and Jackson without Mr. Jackson
“I am a Democrat but largely because I was born a Democrat. It was passed down by my father.” – East Liverpool, OH Mayor James Swoger. (HT: Selena Zito) The Democratic Party has been in business for nearly as long as The United States has been in business independently, rather than as a subsidiary of Great Britain, Inc. It has succeeded to continue on, despite | Read More »
The Demon Sheep of Zion.
It is time to say openly what Jewish Republicans in California whisper quietly: throughout her years in public life, Carly Fiorina never associated demonstrably with those supporting a secure and safe Israel with united Jerusalem as her capital. Quite the contrary: everything she has written, down to her memoirs, points otherwise. Everything she has said – the curious way and timing of her pronouncements on | Read More »