"The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse." -- James Madison - (1751-1836)


"We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force. " :
Ayn Rand in "The Nature of Government"


"Throughout history there have been tyrants and murderers. And for a while they seem invincible, but always they fall. Always."-Mahatma Gandhi

Science may have found a cure for most evils; but it has found no remedy for the worst of them all -- the apathy of human beings: Helen Keller


The notion that a radical is one who hates his country is naive and usually idiotic. He is , more likely, one who likes his country more than the rest of us, and is thus more disturbed than the rest of us when he sees it debauched. He is not a bad citizen turning to crime ; he is a good citizen driven to despair.--H.L Mencken


"When even one American-who has done nothing wrong-is forced by fear to shut his mind and close his mouth-then all Americans are in peril" Harry S. Truman


"The power of the Executive to cast a man into prison without formulating any charge known to the law, and particularly to deny him the judgment of his peers, is in the highest degree odious and is the foundation of all totalitarian government whether Nazi or Communist."- Winston Churchill, Nov. 21, 1943


"When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed: Ayn Rand - (1905-1982) Author - Source: Atlas Shrugged, Francisco's "Money Speech"

"Loss of freedom seldom happens overnight. Oppression doesn't stand on the doorstep with toothbrush moustache and swastika armband -- it creeps up insidiously...step by step, and all of a sudden the unfortunate citizen realizes that it is gone." ~ Baron Lane

U.S. Constitution - R.I.P.

Friday, July 11, 2008

The First Domino Falls

IndyMac Bank seized by federal regulators

The federal government took control of Pasadena-based IndyMac Bank on Friday in what regulators called the second-largest bank failure in U.S. history.

Citing a massive run on deposits at the $32-billion bank, regulators shut its main branch three hours early, leaving customers stunned and upset. One woman leaned on the locked doors, pleading with an employee inside: "Please, please, I want to take out a portion." All she could do was read a two-page notice taped to the door.

Federal authorities said, based on a preliminary analysis, the takeover of IndyMac would cost the FDIC between $4 billion and $8 billion. Regulators said all deposits of up to $100,000 were safe and insured by the FDIC.


I think it's time to start using the good old mattress bank...no interest but your savings will surely be safer...FDIC is as broke as the rest of the government, you wouldn't want to hold your breath waiting for them to return your money if a few more banks go belly up.

1 comment:

Anonymous said...

Could be the most interesting time of our lives coming up. Phil

The Militarization of Our Police