Franklin D. Roosevelt Quotes
If we learned anything from the depression we will not allow ourselves to run around in new circles of futile discussion and debate, always postponing the day of decision.
Franklin Delano Roosevelt, 1882-1945, 32nd President of the United States (Democrat, NY), 10th Radio Fireside Chat, March 9, 1937
Sourced by: Eigen's Political and Historical Quotations
The Chairman of the Federal Reserve Board, creatively found alternatives that the Fed had never used before and almost all experts did not even realize that were possible. He and Treasury Secretary Paulson, almost certainly saved the American system of capitalism. But in the process, they in the early stages and Bernanke throughout the crisis took a number of steps to save the system where the very people and companies whose actions had triggered the entire crisis seemed to personally benefit while most Americans were hurt badly and none of them received any immediate personal benefits the way the large bankers did. The amount of money that Bernanke and his Federal Reserve Board associates spend was staggeringly large and that too distressed many Americans. Almost all of the money was actually returned to the taxpayers as a result of the work of the Fed and the Treasury officials, but no one could feel good about the unfair disparity that had so benefitted much of Wall Street particularly and Main Street and the rest of American only generally while so many lost their jobs, their homes, their dignity and their hopes. Only the big banks and bankers also got a personal huge windfall of taxpayer money and took no risk for that. The alternative would have ruined everyone and even have been worse for the average citizen.
See {630440} for an earlier English human relations statement of the idea.
Franklin Delano Roosevelt, often referred to by his initials FDR, was an American politician who served as the 32nd president of the United States from 1933 until his death in 1945. A member of the Democratic Party, he won a record four presidential elections and became a central figure in world events during the first half of the 20th century. Roosevelt directed the federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. As a dominant leader of his party, he built the New Deal Coalition, which defined modern liberalism in the United States throughout the middle third of the 20th century. His third and fourth terms were dominated by World War II, which ended shortly after he died in office.
