History is on the side of the regulators.
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Ch. 4: The Finn and the elephant; Should we regulate foreign investment?, ‘More dangerous than military power’, p. 82Ha-Joon Chang
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Do you know what I think of history? ... For a while I thought history was something that bitter old men wrote. But Jack loved history so... No one'll ever know everything about Jack. But ... history made Jack what he was ... this lonely, little sick boy ... scarlet fever ... this little boy sick so much of the time, reading in bed, reading history ... reading the Knights of the Round Table ... and he just liked that last song.
Then I thought, for Jack history was full of heroes. And if it made him this way, if it made him see the heroes, maybe other little boys will see. Men are such a combination of good and bad ... He was such a simple man. But he was so complex, too. Jack had this hero idea of history, the idealistic view, but then he had that other side, the pragmatic side... his friends were all his old friends; he loved his Irish Mafia.Jacqueline Kennedy Onassis
History says don't hope
On this side of the grave.
But then, once in a lifetime
The longed for tidal wave
Of justice can rise up
And hope and history rhyme.
So hope for a great sea-change
on the far side of revenge.
Believe that a further shore
is reachable from here.
Believe in miracles
and cures and healing wells.Seamus Heaney
Existing regulators had all the powers they needed, and more, and they failed miserably to foresee and prevent this crisis. Chris Dodd is now asking us to put all our eggs in one basket and trust a "super regulatory agency." He should know better than to centralize power in the hands of Washington bureaucrats - it's precisely the arrangement that caused our current problems. I think most Connecticut voters know that we need fewer czars in Washington, not more. As long as Fannie and Freddie and Congress are meddling with the economy, changing the structure of the regulators is basically rearranging deck chairs on the Titanic.
Peter Schiff
No doubt one may quote history to support any cause, as the devil quotes scripture; but modern history is not a very satisfactory side-arm in political polemics; it grows less and less so.
Learned Hand
All of the arguments that historians and scholars, teachers and students, enter into are lacking in this dimension that I am giving you, and if they weren't lacking in this dimension, they would being to perceive much more significant questions than their arguments with one another. They would be, for example, considering the periods of history as being bookended by a consciousness that history had ended, and then on the other side a belief that history had begun again, and armed with just those ideas alone one could redo a great, great deal of history.
Jon Rappoport
Ha-Joon Chang
Haavisto, Pekka
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