The more things change ...

An interesting story today on the BBC about "banksters", a word which combines "banker" and "gangster".

In 1928, Professor William Z. Ripley of Harvard condemned the practices of Wall Street at that time. He called them "prestidigitation, double-shuffling, honey-fugling, hornswoggling and skullduggery".

He tried to warn then-President Coolidge, but the President was an insider on Wall Street, making money using some of the very practices Ripley was citing. The result was the crash of 1929 and a decade of depression. A depression, by the way, made much worse and much longer by the Socialistic programs of Franklin Roosevelt.

Alas, the situation is remarkably similar today. And we now have a President who will take a slim victory in the polls as a "mandate" to do things far above and beyond what Roosevelt ever dreamed of. I hope you have comfortable shoes. You'll need them when you're standing next to me in the soup line.

Read the BBC story here. There's an interesting twist at the end.