InnocentsAbroad

How the Banks Once Bailed Out America

Nice bit of history. If I'm not mistaken, these were Federally owned banks that sold shares to the public to raise capital for the owner (the Federal government).

Hard to believe it, but the Founding Fathers were entrepeneurs for the Federal government (state ownership of land and banks, an entrepeneurial Federal government buying and selling shares and land).

Later, when public complaints emerged about the conduct of the national (Federal banks), it was in the context of mismanagement as control slipped into the hands of early oligarchs.