Financial Power Quotes
See {617208} his grandfather’s related statement.
To a great extent, the same is true in our modern world.
FDR even admitted that very wealthy men and corporations controlled most U. S. governments including the administration of his own political party. Roosevelt did a great deal to improve the situation but by the latter years of the 20th century, private financial entities gained back much of the influence and control. The result was the Meltdown of 2008 and the Great Recession, where another set of regulations and laws (Dodd-Frank) was made law by the Obama Administration. However, the financial corporations still had enormous political influence as a result of unlimited campaign contributions to politicians and unlimited lobbying.
The last sentence echoes a quotation of Napoleon. See {630664} .
This was in the midst of the debate over The Recharter Of The Bank bill
The Rockefeller Trust was Standard Oil and its many subsidiaries and other related companies. Note the firmness with which the President announced the prosecution of this huge trust. In modern times, Presidents have rarely been so definitive about their intention to prosecute a corporation.
Attempting to defend charges that his bank and others were engaged in monopolistic practices:
Goldman Sachs, one of the largest worldwide financial corporation, not only spent millions on lobbyists to shape government law and regulation, but its ex-officials served on high government positions including Treasury Secretary. They also give large amounts to finance campaigns of Congressmen and other public officials who were then very sympathetic to Goldman Sachs’ welfare. There is no practical way a citizen voter can overcome that situation, especially by exercising the voting franchise.