Friday, January 23, 2009

De ja vu all over again

George S. Kaufman and Morrie Ryskind wrote the following piece of business in 1933:

Mr K. But what about the Reconstruction Finance Corporation? Aren't they supposed to help out?
Mr R. Oh, sure. they keep right on lending money -- good jails and bad. No matter what happens.
Mr K. Let me get this straight. The Reconstruction Finance Corporation just keeps on lending money?
Mr R.
That's right. On condition that there's no security.
Mr K. Well, whose money is it? Whose money are they lending?
Mr R. It's very simple. You see, they take the money that the depositors put into the good banks --
Mr K. And lend it to the bad banks.
Mr R. Now you've got it!