Charles Francis Adams warned America about corporate personhood, but the Roberts Court chose not to learn from history!

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I posted this quote on DU some time ago, but thought it was worth repeating on this board. I found it while reading AMERICA AND THE ROBBER BARONS by Fon W. Boardman, Jr.

Charles Francis Adams (1835-1915),grandson of our second President wrote in his "Chapters of Erie" the following:

"Modern society has created a class of artificial beings who bid fair soon to be the masters of their creator....The system of corporate life and corporate power...is ever grasping new powers, or insidiously exercising covert influence. Even now the system threatens the central government."


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Roberts should be in jail for his part in the 2000 election. That was the 4th Bush family Coup. The first was in the 1930's, the second was the 1970's oil Embargo and the 3rd was Iranian Hostages/Iran Contra.

Thom mentioned this one the other day. It could not be more on point.

"If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied." -Thomas Jefferson

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One must wonder if a de-emphasis of "history" from our public education has more to do with "spin control" on interpretation of the original intent of our founding fathers, than with any renewed emphasis on reading and math? Make children believe that somewhere in the U.S. Constitution is a provision for a laissez faire "free market" dominated by a few powerful corporations granting rights and privledges to those they deem worthy.

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I would say from what I have read of Jefferson, he was way ahead of the game in warning about money speculation and the banks. The piece above is actually a summary of various letters he wrote on the isssue. I just found that out today. The actual qoutes are much more on point.

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babbaramma
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Here is another great Jefferson quote for your library which pretty much defines our prsent economic situation:

"All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass... It nourishes in our citizens habits of vice and idleness instead of industry and morality... It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed." --Thomas Jefferson to George Washington, 1792. ME 8:344

Like Thom always reminds us that we don't manufacture things anymore, our main industry is moving paper.

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These banking games have been going on since the invention of currency. When Geithner testified that we were in uncharted water or "how could anyone one have know" he should have been shot on the spot. The S&L Scandal was only 20 years ago. I am also sure he was privy to the Brooksley B issue as well.

Keith, Rachel and Dylan should be reading these letters every night so people will understand that the Fed is wrong and why.

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babbaramma
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The CEOs of the big banks who testified before Congress said the same thing about their inability to predict the down-turn in realestate prices. I'm amazed that none of the Dems asking the questions didn't ask, "The why do you receive $30 million in annual compensation? I thought you were paid to make those predictions!"

The defendents in the Enron case said the same thing, that they were unaware of what accounted for those tremendous profits. However, they had no difficulty accepting bonuses based on those profits! This prompted the judge to issue the jury instruction, "Deliberate ignorance of wrong-doing is no defense!"

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Towing the party talking point

It's a joke that no one calls them on this. Bernanke and Greenspan did such a good job of rewritting the history of the Great Depression that despite the S&L Scandal, Enron, the warning and everything that happened in the last 10 years the media is still falling for the missdirection. Other than Dylan of course.

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The Death of the Middle Class was by Design...

Even in the face of the so-called Recovery, poverty and inequality are getting worse in our country, and more wealth and power is flowing straight to the top. According to Paul Buchheit over at Alternet, this is the end result of winner-take-all capitalism, and this destruction of the working class has all been by design.

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