Tag Archive for 'wall street crisis'

Banksters’ Paradise

Banker + gangster = bankster. An article by Harold Evans on the origins of this newly-relevant Americanism from the 30s:

It was coined, as far as I can deduce, by an American immigrant, a fiery Sicilian-born lawyer by the name of Ferdinand Pecora. He was the chief counsel to the US Senate Committee on Banking set up in the early 30s to probe the origins of the Crash of 1929.

He exposed quite a lot of the Wall Street practices that Harvard’s Professor William Z Ripley had condemned in 1928. The believable Ripley called them – get ready for these Americanisms – “prestidigitation, double-shuffling, honey-fugling, hornswoggling and skullduggery”.

Also, a brief recap on the truly honorable origins of the Bank of America. Man, oh man, how times have changed. It’s not that people have changed, it’s just that for the last 30 years the creeps of the world have had the intellectual justication to do whatever they wanted. You know, “Let the free market rip! “, and the like. To paraphrase a reader comment cited in the article, people are one step away from pulling a Bastille on their gilded high-rise offices.