In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals.
Nick ClooneyThe worst thing that can happen to us in an ideological struggle is to become what we are fighting.
Nick ClooneyWhen runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis.
Nick ClooneyWhat the F.D.I.C. does is to put the full faith and credit of the United States government behind every savings account in the nation, up to a limit that has changed over the years and stands now at $100,000.
Nick Clooney