Posts Tagged ‘Teddy Roosevelt’

Doris Kearns Goodwin’s Latest: “The Bully Pulpit”

November 18, 2013

Christmas is a great time for book lovers, especially lovers of non-fiction. The book store shelves are bristling with a lot of interesting new histories and biographies.

I just bought Doris Kearns Goodwin’s newest history,  The Bully Pulpit: Theodore Roosevelt, William Howard Taft, and the Golden Age of Journalism . It’s about how Teddy Roosevelt and William Howard Taft worked together as Republican progressives, and the split after Taft followed Roosevelt as president.

It’s also about the way that Roosevelt made a special effort to cultivate newspaper and magazine reporters of the time in order to get them to get across his messages to the American public.  It’s also about how Taft didn’t do that and paid for it.

The parallels between the turn of the 20th Century and now are amazingly close, things like a wide and widening income gap between the rich and poor and a split within the Republican party.

I’ve just started reading it, and it’ll be a while before I finish because I am a slow reader of histories and biographies.  I read novels like Sycamore Row by John Grishom  fairly fast.  It, by the way, is a good read, in my view, though, not  up to some of his preceding novels.

 

 

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The Fruits of Ignoring the Economic Lessons of the Past

September 18, 2008

    Now we are staring the big green monster in the eye and seeing what Mr. Greed can do to us…again. Mr. Greed has been very successful in transferring billions of our tax dollars into his coffers, and he continues to get away with it.

  He took big lending risks in order to rake in big profits, and he did. Now his risky practices have come a cropper and he is being bailed out with our tax dollars. Some of his mammoth financial institutions are now nationalized, but what does he care? He’s already transferred the billions he has made, including golden parachute millions, into Swiss bank accounts.

  How did this happen? Simple. Deregulation. He was able to change the government’s rules in order to take big chances with other people’s money.

  Yes, history does repeat itself, mainly because some do not take heed of what happened in the past. What happened in 1929 is happening right now. Easy credit and risky loans encouraged consumers to go deeply into debt.  When consumers stopped buying in order to make payments on their loans, demand plumeted, businesses failed, out of work consumers defaulted on debts and financial  institutions went under.

  This Great Depression caused a rebirth of government regulations to prevent this disaster from happening again. But, the deregulators took  power again, and here we go again.

  I said the rebirth of regulations because they really started in earnest in 1906 when Republican President Teddy Roosevelt decided to take on big business, breaking up a lot of monopolies. The pro-monoply crowd regained power and we’ve had a lot of mergers in the last few decades. So, in that area, here we go again, also.

  The powers that  be are now trying to prevent another depression by having the  government step in and bail out the banks and those who insure loans. Let’s hope it works. This didn’t have to happen, though. Poper regulation could have prevented it.

  Santayana and Anonymous got it right when they said:

  “Those who cannot learn from history are doomed to repeat it.”
George Santayana 
 

  “History repeats itself  because no one was listening the first time.”
Anonymous