When the Panic of 1907 J.P. Morgan pledged a fair whack of his own fortune and convinced Rockefeller to drop $10 million into National City Bank along with pledging half his fortune in cleaning up any other shit that hit the fan.
Why? Because if he didn't and the whole thing collapsed he wouldn't be able to hire enough men to keep him from being lynched along with the rest of the bourgeoisie.
Talez, that's not quite fair. The Panic was...a panic. People were running around desperate to get hold of their money. We haven't had one of those recently to test.
Yes. Are you saying that a moral compass is no longer necessary, then?
A sustainable budget deal will require both tax increases and spending cuts. … The United States has never repaired a major budget shortfall solely through spending reductions. Budget discipline has been achieved only when imposed on both sides of the ledger. … There are also equity reasons to include tax increases in a deficit-reduction plan. In particular, tax increases are the only way to ensure that high-income households share in the burden. Spending cuts simply do not have a very big impact on high-income households. If the burden is to be shared equitably, high-income households will have to face higher tax burdens.
qxntpqbbbqxl:"In two thousand years, they'll say "The Americans... they built some good roads.""
History is a graveyard of aristocracies
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