Banking Fiasco 🏦

𝑫𝒖𝒓𝒊𝒏𝒈 𝒕𝒉𝒆 𝑮𝒓𝒆𝒂𝒕 𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝑪𝒓𝒊𝒔𝒊𝒔 𝒐𝒇 𝟐𝟎𝟎𝟖, 𝒔𝒐𝒎𝒆 𝒐𝒇 𝑨𝒎𝒆𝒓𝒊𝒄𝒂’𝒔 𝒍𝒂𝒓𝒈𝒆𝒔𝒕 𝒃𝒂𝒏𝒌𝒊𝒏𝒈 𝒊𝒏𝒔𝒕𝒊𝒕𝒖𝒕𝒊𝒐𝒏𝒔 𝒘𝒆𝒏𝒕 𝒃𝒂𝒏𝒌𝒓𝒖𝒑𝒕 𝒐𝒓 𝒘𝒆𝒓𝒆 𝒃𝒂𝒊𝒍𝒆𝒅 𝒐𝒖𝒕 𝒃𝒚 𝒕𝒉𝒆 𝒈𝒐𝒗𝒆𝒓𝒏𝒎𝒆𝒏𝒕... [The Classy Investors]( We are often approached by other businesses with special offers for our readers. While many don’t make the cut, the message below is one we believe deserves your consideration. Dear Subscriber, During the Great Financial Crisis of 2008, some of America’s largest banking institutions went bankrupt or were bailed out by the government. Bear Sterns. Lehman Brothers. Washington Mutual. Even Bank of America and Citigroup. We warned ahead of time about every single one. Nоw, I have a new warning. But this time, it’s not just about a few mega-banks. It’s about nearly every single bank in America, whether large or small. A veritable banking fiasco! [Image]( Good luck and God bless! [Image] Martin D. Weiss, PhD Founder, Weiss Ratings Although Taylor had subscribed to Whig principles of legislative leadership, he was not inclined to be a puppet of Whig leaders in Congress. He acted at times as though he were above parties and politics. As disheveled as always, Taylor tried to run his administration in the same rule-of-thumb fashion with which he had fought Indians. Traditionally, people could decide whether they wanted slavery when they drew up state constitutions. Therefore, to end the dispute over slavery in areas, Taylor urged settlers in Mexico and California to draft constitutions and apply for statehood, bypassing the territorial stage. Southerners were furious, since neither state constitution was likely to permit slavery; Members of Congress were dismayed, since they felt the President was usurping their policy-making prerogatives. In addition, Taylor’s ignored several acute side issues: the northern dislike of the slave market operating in the District of Columbia; and the southern demands for a more stringent fugitive slave law. In February 1850 President Taylor had held a stormy conference with southern leaders who threatened secession. He told them that if necessary to enforce the laws, he personally would lead the Army. Persons “taken in rebellion against the Union, he would hang … with less reluctance than he had hanged deserters and spies in Mexico.” He wavered. Then events took an unexpected turn. After participating in ceremonies at the Washington Monument on a blistering July 4, Taylor fell ill; within five days he was dead. After his death, the forces of compromise triumphed, but the war Taylor had been willing to face came 11 years later. In it, his son Richard served as a general in the Confederate Army. In 1842 Tyler did sign a tariff bill protecting northern manufacturers. The Webster-Ashburton treaty ended a Canadian boundary dispute; in 1845 Texas was annexed. The administration of this states’-righter strengthened the Presidency. But it also increased sectional cleavage that led toward civil war. By the end of his term, Tyler had replaced the original Whig Cabinet with southern conservatives. In 1844 Calhoun became Secretary of State. Later these men returned to the Democratic Party, committed to the preservation of states’ rights, planter interests, and the institution of slavery. Whigs became more representative of northern business and farming interests. When the first southern states seceded in 1861, Tyler led a compromise movement; failing, he worked to create the Southern Confederacy. He died in 1862, a of the Confederate House of Representatives. Often referred to as the first “dark horse” President, James K. Polk was the last of the Jacksonians to sit in the White House, and the last strong President until the Civil War. He was born in Mecklenburg County, North Carolina, in 1795. Studious and industrious, Polk was graduated with honors in 1818 from the University of North Carolina. As a young lawyer he entered politics, served in the Tennessee legislature, and became a of Andrew Jackson. In the House of Representatives, Polk was a chief lieutenant of Jackson in his war. He served as Speaker between 1835 and 1839, leaving to become Governor of Tennessee. Until circumstances raised Polk’s ambitions, he was a leading contender for the Democratic nomination for Vice President in 1844. Both Martin Van Buren, who had been expected to the Democratic nomination for President, and Henry Clay, who was to be the Whig nominee, tried to take the expansionist issue out of the campaign by declaring themselves opposed to the annexation of Texas. Polk, however, publicly asserted that Texas should be “re-annexed” and of Oregon “re-occupied.” The aged Jackson, correctly sensing that the people favored expansion, urged the choice of a candidate committed to the Nation’s “Manifest Destiny.” This view prevailed at the Democratic Convention, where Polk was nominated on the ninth ballot. “Who is James K. Polk?” Whigs jeered. Democrats replied Polk was the candidate who stood for expansion. He linked the Texas issue, popular in the South, with the Oregon question, attractive to the North. Polk also favored acquiring California. Even before he could take office, Congress passed a joint resolution offering annexation to Texas. In so doing they bequeathed Polk the possibility of war with Mexico, which severed diplomatic relations. In his stand on Oregon, the President seemed to be risking war with Britain also. The 1844 Democratic platform claimed the entire Oregon area, from the California boundary northward to a latitude of 54’40’, the southern boundary of Russian Alaska. Extremists proclaimed “Fifty-four forty or fight,” but Polk, aware of diplomatic realities, knew that no course short of war was likely to of Oregon. Happily, neither he nor the British wanted a war. He offered to settle by extending the Canadian boundary, along the 49th parallel, from the Rockies to the Pacific. When the British minister declined, Polk reasserted the American claim to the entire area. Finally, the British settled for the 49th parallel, except for the southern tip of Vancouver Island. The treaty was signed in 1846. Acquisition of California proved far more difficult. Polk sent an envoy to Mexico up to , plus settlement of damage owed to Americans, in return for California and the Mexico country. Since no Mexican leader could cede half his country and still stay in power, Polk’s envoy was not received. To bring pressure, Polk sent Gen. Zachary Taylor to the disputed area on the Rio Grande. To Mexican troops this was aggression, and they attacked Taylor’s forces. Congress declared war and, despite much Northern opposition, supported the military operations. American forces repeated victories and occupied Mexico City. Finally, in 1848, Mexico ceded Mexico and California in return for and American assumption of the damage. President Polk added a vast area to the United States, but its acquisition precipitated a bitter quarrel between the North and the South over expansion of slavery. Polk, leaving office with his health undermined from hard work, died in June 1849. Zachary Taylor, a general and national hero in the United States Army from the time of the Mexican-American War and the War of 1812, was elected the 12th U.S. President, serving from March 1849 until his death in July 1850. Northerners and Southerners disputed sharply whether the territories wrested from Mexico should be opened to slavery, and some Southerners even threatened secession. Standing firm, Zachary Taylor was prepared to hold the Union together by armed force rather than by compromise. Born in Virginia in 1784, he was taken as an infant to Kentucky and raised on a plantation. He was a career officer in the Army, but his talk was most often of cotton raising. His was in Baton Rouge, Louisiana, and he owned a plantation in Mississippi. But Taylor did not defend slavery or southern sectionalism; 40 years in the Army made him a strong nationalist. He spent a quarter of a century policing the frontiers against Indians. In the Mexican War he major victories at Monterrey and Buena Vista. President Polk, disturbed by General Taylor’s informal habits of command and perhaps his Whiggery as well, kept him in northern Mexico and sent an expedition under Gen. Winfield Scott to capture Mexico City. Taylor, incensed, thought that “the battle of Buena Vista opened the road to the city of Mexico and the halls of Montezuma, that others might revel in them.” “Old Rough and Ready’s” homespun ways were political assets. His long military record would appeal to northerners; his ownership of 100 slaves would lure southern votes. He had not committed himself on troublesome issues. The Whigs nominated him to run against the Democratic candidate, Lewis Cass, who favored letting the residents of territories decide for themselves whether they wanted slavery. In protest against Taylor the slaveholder and Cass the advocate of “squatter sovereignty,” northerners who opposed extension of slavery into territories formed a Soil Party and nominated Martin Van Buren. In a close election, the Soilers pulled enough votes away from Cass to elect Taylor. Although Taylor had subscribed to Whig principles of legislative leadership, he was not inclined to be a puppet of Whig leaders in Congress. He acted at times as though he were above parties and politics. As disheveled as always, Taylor tried to run his administration in the same rule-of-thumb fashion with which he had fought Indians. Traditionally, people could decide whether they wanted slavery when they drew up state constitutions. Therefore, to end the dispute over slavery in areas, Taylor urged settlers in Mexico and California to draft constitutions and apply for statehood, bypassing the territorial stage. Southerners were furious, since neither state constitution was likely to permit slavery; Members of Congress were dismayed, since they felt the President was usurping their policy-making prerogatives. In addition, Taylor’s ignored several acute side issues: the northern dislike of the slave market operating in the District of Columbia; and the southern demands for a more stringent fugitive slave law. In February 1850 President Taylor had held a stormy conference with southern leaders who threatened secession. He told them that if necessary to enforce the laws, he personally would lead the Army. Persons “taken in rebellion against the Union, he would hang … with less reluctance than he had hanged deserters and spies in Mexico.” He wavered. Then events took an unexpected turn. After participating in ceremonies at the Washington Monument on a blistering July 4, Taylor fell ill; within five days he was dead. After his death, the forces of compromise triumphed, but the war Taylor had been willing to face came 11 years later. In it, his son Richard served as a general in the Confederate Army. [The Classy Investors]( You are receiving our newsletter because you opted-in for it on one of our sіster websites. 11780 US Highway 1 Palm Beach Gardens, FL 33408-3080 Would you like to [edit your e-mail notification preferences or unsubscribe]( from our mailing list? Copyright © 2023 Weiss Ratings. All rights reserved. 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