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| Permalink View Article Stats Herbert Hoover Copycat Quicklink submitted by Lance Ciepiela (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| Faced with the financial meltdown of the Great Depression, the Hoover administration created the Reconstruction Finance Corporation that poured taxpayers' money into the coffers of the influential Wall Street banks in an effort to save them from bankruptcy. Like today's Bush/Obama administrations, the Hoover administration used the 'too-big-to-fail' scare tactic in order to justify the costly looting of the national treasury. |
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