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Noah and the Ark
FDR, Nixon and Kennedy’s assassination eliminated domestic, foreign gold and silver money certificate Constitutional standards respectively. A Federal Reserve Governor advocated the Constitutional gold standard.
http://www.usagold.com/gildedopinion/greenspan.html
Treasury Secretaries and big banks relied on FDIC and supported the Gramm-Leach-Bliley Act of 1999 to issue more debt money and repeal the protective Glass Steagall Act of 1933.
John Fitzgerald Kennedy was the first President with an Economic graduate degree from the London School of Economics. He wanted to replace Federal Reserve notes based on usury with United States Notes backed by silver. Per political economics par, the posthumous Kennedy commemorative Half Dollar went from 90% silver in 1964 to 40% in 1965 to zero percent in 1971.
http://www.fdrs.org/executive_order_11110.html
Revolving door Wall Street Treasury Secretaries lobbied Congress and President Clinton for more legislative authority and leverage for their financial firms to compete more efficiently (make more money).
As our parents said, If everyone jumped off the cliff, would you?
Seven years later, the US Treasurer, a former Goldman Sachs chairman and linebacker called The Hammer, was down on his knee to the female Speaker of the House for Congressional Taxpayer bailouts of his leveraged banking colleagues. He promised to bail out mortgages and spent the money on banks and quasi shadow credit corporations.
The bailout money did not go to the affected middle class. It went to the disaffected rich, including paying off hedge fund managers who hit the jackpot betting against financial institutions. They used short sales and derivatives with no uptick rule or enforcement of the rule against naked shorts.
The trickle down myth earned Congress, Court or President single digit popularity.
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