“The federal [bank deposit] insurance scheme has worked up to now simply and solely because there have been very few bank failures. The next time we have a pestilence of them it will come to grief quickly enough, and if the good banks escape ruin with the bad ones it will be only because the taxpayer foots the bill.”
Quote by H. L. Mencken
Author
H. L. Mencken
H. L. Mencken was an American journalist, essayist, satirist, cultural critic, and scholar of American English. Born on September 12, 1880, and passing away on January 29, 1956, Mencken is renowned for his significant contributions to American culture and language, particularly through his satirical essays and critical analyses of the American establishment. more
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