Political Quotes

“Mr. President, before he leaves, let me commend my colleague from Louisiana. His role as a substitute teacher is one I greatly admire. I thank you for sharing that with us today. I am sure it gives you great insight into education--greater than some--and I am going to accept your challenge and try to find a way to be a substitute teacher myself along the way, if they will have me. But thank you for that statement. It has been almost 100 years since the Great Depression. It was a terrible time in American history. Businesses failed right and left. Families lost all of their savings. There were runs on banks, businesses failing. It was a horrible moment. Luckily for us, the leadership of Franklin Roosevelt appeared in 1933, when he was sworn in as President of the United States, and we made some significant basic changes. One of them we still benefit from today: Federal deposit insurance. If you go to a recognized legal bank in America, a regulated bank, under our Federal guidelines, there is an insurance policy that says that even if this bank goes bust, we are going to be there to protect much of your savings, maybe all of them, depending on how much you have invested in that bank. We were tested during the savings and loan crisis a few decades ago, and we kept our promise. We paid people back when the savings institutions they were invested in failed. But there are areas where you can invest your own personal savings where there is no insurance policy. You are on your own.…”