The Plebian

Pretty Economic Pictures for the Illiterate Masses

Andrew Jackson’s view on Big Bank Bailouts.

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The dude on the $20 had a lot to say about large financial institutions back in the early 19th century.  Much can still ring true today.

File:Jackson bank.jpg

“Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out.”

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