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Comments on “Sunday Reflections, 3

  1. Alex Moore October 12, 2008 at 12:59 pm

    “I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
    –Thomas Jefferson

    “A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor and bread it has earned – this is the sum of good government.”
    –Thomas Jefferson

    “In a Free Market Capitalist system, individuals concerned about their personal financial health, would never give a loan to someone they knew could not or would not pay that loan back. But Government regulation, promoting social engineering, forced banks to loan to credit-unworthy individuals. It is a surprise that the system failed?

    …The banks and financial institutions came up with a way to package these loans and ‘reduce’ the risk. However, these Collateralized Debt Obligations were still vulnerable. The bankers and financial institutions passed them around like hot potatoes, leveraged them beyond belief (some, over 47 times the supposed worth!) and made a fortune on a Dead Horse in a Live Horse race! But sooner or later, the winner has to cross the Finish line. And dead horses finish last.”

    –My Dad

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