Oct 2, 2008 10:42 pm US/Central
In The Know: Want To Buy A Silk Shirt?
(WCCO)
On Friday the House of Representatives will vote on the Senate-passed financial rescue plan. Don Shelby said members of Congress will pay attention to their emails or they will vote their consciences.
No wonder Congress has an approval rating around 9 percent. They keep trying to please all the people all the time, and that simply doesn't work, nor is it good government.
Still a majority of Americans want to punish Wall Street. I thank David Leonhardt, writing in the New York Times, for reminding me of the story of Meyer Miskin, a guy who sold silk shirts in New York in 1929. When the stock market crashed, he was elated. Serves the greedy sons of a gun right, he said.
A year later, Meyer Mishkin went out of business when Wall Street's problems became Main Street's. Seems nobody wanted silk shirts anymore … or, much of anything else. He never held a steady job after that. His grandson often told the story. His grandson, until recently, served on the Federal Reserve Board with Ben Bernanke.
The question Congress faces is whether it votes against the greedy sons of a gun, or if it votes for the Meyer Mishkins of Main Street, whether they want them to, or not.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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