Tag: Reconstruction Finance Corporation
Bailout Will Only Worsen Federally Caused Crisis

On the second try in a week, the $700 billion bailout (“rescue”) bill (“The Emergency Economic Stabilization Act of 2008”) was easily stampeded through the House with a vote of 263 to 171, despite public opposition. The measure strongly and eerily resembles the Reconstruction Finance Corporation (RFC), which as Independent Institute Senior Fellow Robert…
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Long live the RFC!

Most readers do not have access to the electronic archive of the New York Times (1851-present) or other major newspapers. If they did, they could read the rhetoric of 1930-1931 about the banking crisis of that time (the real banking crisis began a year after the Stock Market Crash). In late 1931, President Herbert…
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