I ran across this statement of principle in Alfred Owen Crozier’s 1912 book U.S. Money vs. Corporation Currency “Aldrich Plan.” He wrote (p. 45) “The Government should not go into partnership with, or loan its credit or influence to, any private individual or corporation.” If this principle actually were followed, huge swaths of the federal government would disappear. The Federal Reserve would go, because its  notes are legally obligations of the United States. The TARP (Troubled Assets Relief Program) for banks would never have occurred. Any and all government loan guarantee programs would go. Federal energy subsidies to businesses would … Continue reading What Happened to Government Neutrality?