Skip to main content

View Diary: The American System (205 comments)

Comment Preferences

  •  the very existence of the banks & assumption (2+ / 0-)
    Recommended by:
    limpidglass, happymisanthropy

    of the national debt in return for moving the capital to VA.  This was a tremendous buy-out, which the southerners considered a benefit to the northern, more mercantile interests, thus the basis for the deal.

    The very existence of the national bank was also considered by Jefferson and the Democrats as profoundly unconstitutional, and a support of business over agriculture by the federal government.  It was a significant factor in Jefferson's resignation as VP.

    •  A little better explanation is required. (3+ / 0-)
      Recommended by:
      Pescadero Bill, Dburn, Odysseus

      We've had national banks, and we still have the Federal Reserve system.

      That fundamentally different from TARP, which required an act of Congress and allocation of funds for direct transfer to private companies for the purpose of rewarding their misdeeds -- oops -- make that, NO! Let's call a spade a spade.  TARP was a big payback to the people who've financed our politicians at the expense of millions of Americans who have had to carry the weight of that bailout on our backs.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Sun Dec 02, 2012 at 09:05:41 AM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site