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Three Blind Bankers: Reflections on the House Financial Services Committee Hearings
He negotiated the Senate unratified League of Nations and Treaty of Versailles in Paris, which bankrupted Germany with hyperinflationary depression wheelbarrow money for a loaf of bread and led to the rise of Hitler.
WW highlighted later Constitutional mistakes while campaigning:
A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.
We are at the parting of the ways. We have, not one or two or three, but many, established and formidable monopolies in the United States. We have, not one or two, but many, fields of endeavor into which it is difficult, if not impossible, for the independent man to enter. We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world — no longer a government [of the many] by the opinion and the duress of small groups of dominant men.
The New Freedom: A Call for the Emancipation of the Generous Energies of a People,”
In the depression after the flu epidemic and WWI, which killed a combined 66,000,000 people, Nobel Peace Prize Winner WW lay paralyzed by stroke in the Lincoln Bed.
Franklin Delano Roosevelt, Theodore’s cousin, married Teddie’s orphaned niece Eleanor. A Harvard corporate lawyer, as President he expanded Federal Government powers, spending programs, borrowing and tax hikes begun under progressive Hoover.
Elected to four terms, FDR put German, Italian and Japanese Americans into internment camps, where they lost their lands to lawyers and politicians. FDR’s bust is on the Dime, once silver, now copper nickel.
FDR ordered wage, price and product controls. He repudiated Constitutional Gold Contracts and Standards.
FDR raised income taxes to 94%, plus another 2% social security tax with mandatory withholding.
