“Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions. People lost their farms, families were wiped out. This went on for more than a hundred years, until the Great Depression, when Oklahoma turned to dust. "We can do better than this." Americans said. "We don't need to go back to the boom-and-bust cycle." The Great Depression produced three regulations:
The FDIC-your bank deposits were safe.
Glass-Steagall-banks couldn't go crazy with your money.
The SEC-stock markets would be tightly controlled.
For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen.”
―
The FDIC-your bank deposits were safe.
Glass-Steagall-banks couldn't go crazy with your money.
The SEC-stock markets would be tightly controlled.
For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen.”
―
“He that is the author of war lets loose the whole contagion of hell and opens a vein that bleeds a nation to death.”
―
―
“We don't actually fear death, we fear that no one will notice our absence, that we will disappear without a trace.”
―
―
“And the day will come when the mystical generation of Jesus, by the supreme being as his father in the womb of a virgin will be classed with the fable of the generation of Minerva in the brain of Jupiter. But we may hope that the dawn of reason and freedom of thought in these United States will do away all this artificial scaffolding...
{Letter to John Adams, April 11, 1823}”
― Letters of Thomas Jefferson
{Letter to John Adams, April 11, 1823}”
― Letters of Thomas Jefferson
Gail’s 2025 Year in Books
Take a look at Gail’s Year in Books, including some fun facts about their reading.
Polls voted on by Gail
Lists liked by Gail





