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To: koan who wrote (89283)	10/27/2008 1:59:44 PM
From: Little Joe	3 Recommendations Read Replies (3) \| Respond to of 116555

Guess it depends. The writers I read say Hoover did take many steps similar to what is being done today and they did not work and of course they can't work. We are using more lending to save us from the lending we already did, further reducing moral hazard which is responsible for getting us here. The sad fact is that once things get mismanaged to the extent that they have been, there are no painless solutions. It really is a question of suffer now or suffer later. If we push it off the pain will be greater. There is not a person alive who knows what to do now. Wring your hands all you want. The government caused this problem and it is unlikely to solve it. Little joe

To: koan who wrote (89283)	10/27/2008 2:33:19 PM
From: Oblomov	12 Recommendations Read Replies (3) \| Respond to of 116555

No. Hoover did anything but nothing. The Reconstruction Finance Corporation and the Home Owners Loan Corporation (predecessor of the FHLB) were Hoover Administration programs. He created the Veteran's Administration in response to the activism of the Bonus Army. The first of the two Glass-Steagall acts was [passed in 1932. He also urged the creation of a Public Works Administration. The Agricultural Marketing Act of 1930 attempted to forestall the drop in agricultural goods prices. Hoover essentially implemented a smaller version of the New Deal starting in 1930. Yes, Calvin Coolidge and Andrew Mellon advised Hoover to do nothing, but he did not heed their advice. Koan, your ignorance of history is stark indeed: >The government cannot just let its people starve to death!! What about the government intentionally starving people to death? That's exactly what was done under FDR's Agricultural Adjustment Act, one of the centerpieces of his New Deal (along with the unconstitutional NIRA). Millions of acres of crops were burned in an inane and quixotic desire to support crop prices. This was in 1933-34, when millions of people were starving. I would much prefer that the government had done nothing instead of starving people to death. The prices of agricultural goods would drop, and people would buy them and eat. Well, at least we got a fine book, The Grapes of Wrath out of it. I can't say anything else positive about such government action. >Good thing our founding fathers didn't feel that way when they broke away from England and formed theconsitution. They wanted to free themselves from busybody government. Now it seems that at least half the country is Redcoat loyalists, the unworthy progeny of the Founders.