Planetary Rescue Operations [Filtered & blocked by Google!]

Posts Tagged ‘run on the bank’

House Nixes Bailout Plan [for now!]

Posted by msrb on September 30, 2008

The US House of Representatives Rejects the $800 billion Wall Street Robbery Reward Package [for Now!]

Image of the Day: I have a sinking feeling …

[Benny, I have a sinking feeling some of them might be on to us!]

U.S. Treasury Secretary Henry Paulson (L) and Chairman of the Federal Reserve Ben Bernanke (R) testify before the House Financial Services Committee about credit market turmoil and the government economic bailout on Capitol Hill in Washington September 24, 2008. REUTERS/Kevin Lamarque (UNITED STATES). Image may be subject to copyright!

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Posted in bailout plan, Ben Bernanke, Federal Reserve, GW Bush, Henry Paulson | Tagged: , , , , | 3 Comments »

Quote of the Day: Run On the Bank

Posted by msrb on September 23, 2008

A Hanging Offense

“The goldsmith bankers in Amsterdam got a law passed making it a hanging offense to start a run on the goldsmith. But one day there was a run, and of course the goldsmith could not pay.  The matter was resolved not by hanging the unknown individual who started the run, but by hanging the goldsmith.”

Source: for the common good: redirecting the economy toward community, the environment, and a sustainable future by Herman E. Daly and John B. Cobb, Jr. Quoting Russel G. Barber, Jr. The One Hundred Percent Reserve System.

Posted in goldsmith, government, money, politics | Tagged: , , , , , | 3 Comments »