Ron Paul Should Run as a Third Party Choice.

[Oddball]

Your Mcdonalds comparison is silly at best.

In 1895 JP Morgan bailed out the entire country. Do you think one bank should have that much sway on an entire economy?

The Man Who Bailed Out the US and Wall Street: Bailouts in 1895 and in 1907 Changed US Finance | Suite101.com

Ever heard of Wells Fargo?...Where were they based during that time frame?

What's your point?

My point is that JPM didn't bail out the entire country....The "entire country" isn't Wall Street.

My point is the decentralization of the banking system of the time....If the bailout failed, only JPM would've been hurt....Few people outside the Wall Street establishment, including banks like Wells Fargo, would've been harmed.

With today's taxpayer-backed bailouts, we're all on the hook.

 

[Rocko]

Ever heard of Wells Fargo?...Where were they based during that time frame?

What's your point?

My point is that JPM didn't bail out the entire country....The "entire country" isn't Wall Street.

My point is the decentralization of the banking system of the time....If the bailout failed, only JPM would've been hurt....Few people outside the Wall Street establishment, including banks like Wells Fargo, would've been harmed.

With today's taxpayer-backed bailouts, we're all on the hook.

JPM was the only bank with the wherewithall.

In today's envirnment we are all on the hook. Reason being is there is systematic risk. When we say "Wall st." we're only taliking about a few banks, but if they go under....the world with them.

 

[Rocko]

With that said these banks have enough influence as is. You're the one who suggested we're all on the hook with them the way they are. Remove the Fed, and GS will be our central bank.