There is nothing new under the sun

It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth can not be produced by human institutions. In the full enjoyment of the gifts of Heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society-the farmers, mechanics, and laborers-who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me there seems to be a wide and unnecessary departure from these just principles....
...Experience should teach us wisdom. Most of the difficulties our Government now encounters and most of the dangers which impend over our Union have sprung from an abandonment of the legitimate objects of Government by our national legislation, and the adoption of such principles as are embodied in this act. Many of our rich men have not been content with equal protection and equal benefits, but have besought us to make them richer by act of Congress. By attempting to gratify their desires we have in the results of our legislation arrayed section against section, interest against interest, and man against man, in a fearful commotion which threatens to shake the foundations of our Union. It is time to pause in our career to review our principles, and if possible revive that devoted patriotism and spirit of compromise which distinguished the sages of the Revolution and the fathers of our Union. If we can not at once, in justice to interests vested under improvident legislation, make our Government what it ought to be, we can at least take a stand against all new grants of monopolies and exclusive privileges, against any prostitution of our Government to the advancement of the few at the expense of the many, and in favor of compromise and gradual reform in our code of laws and system of political economy.

Part of President Andrew Jackson's Veto Message Regarding the Bank of the United States; July 10, 1832

Large banks feeding off the general public is nothing new. We just used to have presidents with enough courage to stand up to them. But now we:

Relax reserve standards.

Bail them out when they take too much risk.

Open up the discount window so they can barrow our money at super low interest, then they turn around and buy our bonds at a higher interest and make huge profits taking advantage of the system.

Congress turns a blind eye to the huge profits and bonuses since large chunks of taxpayer money now gets funneled to them through the banks lobbyist.

The courts rule that the people have no right to know where the money comes from.

And most of us will go to the poles and vote for more of the same because we like the little letter next to a candidates name.

For those of us who are fans of history, watching the political banter is both frustrating and humorous. It is both sad and ironic that a distinctly human trait is to not learn from the past.

Thanks for the read.



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