Category: History

The (Green) New Deal wasn’t (and isn’t)

Jonah Goldberg:

In his piece “There Is No Green New Deal,” Charlie writes:

What Alexandria Ocasio-Cortez has thrust upon our national conversation is not, in any sense, a “Green New Deal.” It does not resemble a Green New Deal. It does not approximate a Green New Deal. It does not so much as represent the shadows or the framework or the embryo of a Green New Deal. It is, instead, the inchoate shopping list of a political novice who has managed to get herself elected to Congress and believes that this has turned her into a visionary.

I agree with that, but it’s worth reminding folks that there was never any single coherent thing called “the New Deal.” From the beginning, FDR was clear that he was winging it. At Oglethorpe University, he famously set the tone for what they were up to: “bold, persistent experimentation.” He added, “It is common sense to take a method and try it; if it fails, admit it frankly and try another. But above all, try something.”

Roosevelt fans on the left — and of late on the right — have lionized FDR’s “pragmatism” ever since. But this is a terrible credo for a nation committed to the idea that we live under the rule of law, not of men. Some avenues are supposed to be closed off from “experimentation.” Let’s try getting rid of the Bill of Rights for a bit and see if we can’t get great things done! Let’s be — as Tom Friedman puts it — “China for a Day.” Implicit in the idea of experimentation from Washington is the idea that planners should not be constrained. Implicit in the idea of a constitutional republic is that they should be. As we put it in our editorial on the Green New Deal, “The Left really has only one idea: control” — and that is the idea implicit in New Deal–style “experimentation.”

But there’s something else implicit in the idea of such experimentation: a total lack of policy coherence.

The New Deal cargo-cultists have a vexing habit of pointing at the things they like or liked about the New Deal and saying, “That’s the New Deal.” So they like Social Security but are silent — usually from ignorance — about the policies that caused blacks to protest the NRA (National Recovery Administration) as the “Negro Run Around” and “Negroes Ruined Again.” They like all the government makework for artists and writers but don’t talk about the little things, like Jacob Maged or the scuttling of the London Economic Conference, that helped deepen the Depression.

The simple fact, as I argued here, is there was no single New Deal (which is one reason why historians talk about the second New Deal, which produced most of the stuff people associate with the good New Deal). It was the steady pursuit of control and constantly updated wish lists. As FDR told Congress in 1936:

We have built up new instruments of public power. In the hands of a people’s government this power is wholesome and proper. But in the hands of political puppets of an economic autocracy such power would provide shackles for the liberties of the people.

In other words, so long as we have the power, whatever we want to do is “wholesome and proper.” But if our political opponents get power, look out!

“I want to assure you,” FDR’s aide Harry Hopkins told an audience of New Deal activists in New York, “that we are not afraid of exploring anything within the law, and we have a lawyer who will declare anything you want to do legal.”

The New Deal wasn’t a program, it was the by-product of ad hoc experimentation by people who thought their own power was self-justifying. And to look back on it as somehow more coherent than the would-be Green New Deal is to give it too much credit.

“To look upon these programs as the result of a unified plan,” wrote Raymond Moley, FDR’s right-hand man during much of his rule, “was to believe that the accumulation of stuffed snakes, baseball pictures, school flags, old tennis shoes, carpenter’s tools, geometry books, and chemistry sets in a boy’s bedroom could have been put there by an interior decorator.” When Alvin Hansen, an influential economic adviser to the president, was asked — in 1940 — whether “the basic principle of the New Deal” was “economically sound,” he responded, “I really do not know what the basic principle of the New Deal is.”

It was control. And wish lists. And it was ever thus.

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The old neighborhoods

I have written here about the Far East Side of Madison, where I grew up. (Including what could have been, but wasn’t, the neighborhood high school.)

The Facebook Historic Madison group discovered two newspaper ads. First, chronolotgically speaking, from 1961:

1961 New Acewood

Quoting from myself (actually another blog):

The first subdivision in the area south of Cottage Grove Road east of U. S. 51 was Harry Vogts’ Acewood from 1959. By 1962 many small, medium, and large builders and developers were active in the area; two of the larger were Towne Realty of Milwaukee that used Findorff, a Madison company, to build its houses, and the Lucey Realty Service owned by Patrick J. Lucey who was governor of Wisconsin from 1971 to 1977.

Many streets are named for local residents: Steinhauer Trail, Starker Avenue, Vinje Court, and Droster Road. Several are for builders; Montgomery Drive is for William C. Montgomery. First names are common as in Bonnie Lane, Ellen Avenue, Wendy Lane,and Melinda Drive. Female names greatly outnumber male names. Painted Post Road is from Lucey’s Painted Post Subdivision. Bird streets are Meadowlark Drive, Sandpiper Lane, Pelican Circle, and Tern Court. …

One major street, Acewood Boulevard, began about 1959 in Harry Vogts’ Acewood subdivision. Vogts (1908-1994) owned Ace Builders, Inc., and had already named one subdivision in Glendale Aceview.

New Acewood (which one assumes was phase 2 of Acewood) was the neighborhood to which we moved in 1966, five years after this ad. All the houses I rememberhad one-car garages, which worked fine for my parents at the time since they had only one car.

But while my parents were situating in their new-to-them house, to the east was …

1964 Heritage Heights

By 1958 when large scale suburban development began in the area east of U. S. 51, south of Milwaukee Street, and north of Cottage Grove Road, developers such as Aaron Elkind, Donald Sanford, and Albert McGinnis knew a lot about selling houses to middle income clients.

They made certain that subdivisions named Kingston-Onyx, Rolling Meadows, and Heritage Heights promised pleasant surroundings. Streets with names such as Diamond, Turquoise, and Crystal sparkled with the promise of a high-quality product in a landscape filled with singing birds on streets named Chickadee Court, Bob-o-link Lane, and Meadowlark Drive.

Heritage Heights suggested merry England with Kingsbridge Road, Queensbridge Road, and Knightsbridge Road.

As I’ve written before, this was the neighborhood that was probably as suburban as you could get while still beingwithin the Madison city .limits. Thanks to the lakes and surface streets not really designed for the traffic they ended up getting, getting downtown or to the UW campus took more time than the crow needed to fly. Other than three hellish years at Schenk Middle School (which may have been the fault of the students more than anything else), life seemed pretty safe to the point of dullness in Heritage Heights, which makes you think of …

… the unofficial theme song of our ’80s neighborhood.

As long as we’re running the wayback machine, we should bring up this Facebook gem:

kelly's

Before McDonald’s became ubiquitous, and well before anyone in the Culver family thought of dumping A&W and going off on their own, there was Kelly’s, which as you’ll note from the menu was kind of McDonald’s without golden arches but with the dancing Pickle Pete.

The slightly odd thing here is that the listed menu does not include hot dogs. I know that Kelly’s had hot dogs, because for some reason I wouldn’t eat hamburgers until sometime in grade school.

WISC-TV remembered Kelly’s and another burger place:

P-P-Pickle P-P-Pete!!!

Once upon a time, Kelly’s Hamburgers was a national chain that competed with the likes of McDonald’s. Madison had several Kelly’s locations around town, but locally, the restaurants are best remembered for their iconic mascot—a smiling dill pickle slice with a stutter, called Pickle Pete. He appeared in newspaper ads and radio jingles in the ’60s and ’70s and, as best as we know, Pickle Pete was unique to the Madison market. …

A Night at the Drive-In

For east-siders, few places from the mid-20th century are more fondly remembered than the Monona Root Beer Drive-In across from Olbrich Park. Famed for its curly fries made by hand, the drive-in was best known by the nickname the “Hungry Hungry” because of the large neon sign that flashed the word “hungry.” Some Madisonians even recall seeing the sign across Lake Monona from downtown. This photo belongs to former drive-in owner Tim Femrite, who worked there in the ’50s as a teenager. “I started there humping cars—that means waiting on them,” Femrite says. “I cut buns, peeled onions, pattied hamburgers. It was hot in the summertime, but it was fun.”

60 years ago today

David J. Halberstam:

Sixty years ago today, the NFL Championship Game earned an immediate and exalted label; The Greatest game ever played. In the league’s first ever overtime, the Baltimore Colts defeated the New York Giants, 23-17.

Nothing since, not a great Super Bowl or a post season cliffhanger, dulled the title game’s luster or knocked it from its top all-time billing. The Yankee Stadium matchup has since been the subject of many featured articles, multiple books and even an ESPN documentary; all about this one single epochal contest.

Deservedly so, many say, because the December 28th 1958 classic launched the NFL into high gear; eventually doing the unthinkable, surpassing baseball as the national pastime. What followed were billions in both sponsorships and television contracts and millions for Super Bowl spots and executive salaries.  To appreciate the exponential growth, superstar quarterback Johnny Unitas was paid only $17,500 and most players then made no more than $10,000.

After years of half-empty stadiums, 64,185 crammed into the big ballpark in the Bronx to watch the showdown. The public had been generally indifferent toward pro football until that day. The New York Times sports columnist Arthur Dailey called the title game, “One for the books…. an unforgettable episode crammed to the gunwales.”

There is no video recording of the NBC Network telecast. ESPN’s documentary was pieced together by NFL Films which did what it could with grainy clips. Viewers on YouTube today can watch the video which is matched nicely against the only full audio that survived; the NBC Radio broadcast done by Bill McColgan and Joe Boland.

What’s particularly striking, when looking back through an historical lens, is that the game earned unrivaled distinction despite the fact that the telecast was blacked out in New York City and that the Big Apple was limited informationally in the weeks leading up to the NFL championship. A newspaper strike in New York dragged from December 12th through December 28th, the day of the game.

Times were different too. The relationship between the coaches and the media was less confrontational or distrusting as it is today.

Although the Giants suffered a killer of a loss, Giants head coach Jim Lee Howell invited the press to watch film of the game with his assistant coaches on the day following the game. And these weren’t just ordinary retinues or acolytes. The offensive and defensive coordinators were Vince Lombardi and Tom Landry respectively; two peerless football leaders who would go on to win Super Bowls in their own right.

In the New York Daily News, Joe Trimble who attended the film session, wrote, “It was almost as exciting as the game itself. Couldn’t change the 23-17 ending, though.”

The Giants were up 17-14 and had the ball in their end with a little more than two minutes remaining in regulation. On third down, Frank Gifford busted through for what he thought was a first down and an opportunity for the Giants to coast to the NFL title. But the line judge didn’t agree. As such, the Giants punted and Unitas led the Colts down field where Steve Myhra connected on a 19 yard field goal. The result was a tie game at the end of regulation.

Years earlier, the NFL had added an overtime element but it wasn’t until that late December day that the rule would be activated. Meanwhile, 45 million viewers across America were watching the game on black and white sets; sitting at the edge of their couches and living room chairs.

Both sidelines knew that a sudden death overtime would begin three minutes after the end of regulation but had no idea of what was to occur procedurally. So they milled and weaved among themselves until officials trotted over to summon the captains to the middle of the field.

Some eight minutes into the overtime, the Colts’ Alan Ameche, a Heisman winner at Wisconsin plunged into the end zone for the title.

The NFL had arrived; breathtakingly!

Television and radio

NBC paid $200,000 for the television and radio rights. Until the 1961 Sports Broadcasting Act was signed into law by Congress and President John F. Kennedy, baseball was the only sport that was legally permitted to negotiate league-wide broadcast contracts. Major League Baseball was exempt from anti-trust. The NFL didn’t have that luxury yet. For regular season games, each of the league’s 12 teams represented itself independently and most had contracts with CBS. The title game though was under the aegis of the league office and Commissioner Bert Bell had a deal with NBC.

Bell also extended timeouts that season from 60 to 90 seconds. The standard network commercial length in those years was sixty seconds, not thirty as it is today. Bell also asked the refs to add some ‘TV timeouts’ for the title game.

The overtime delay

In pre cable days, when connections to a station’s television tower were weak, viewers’ screens would jitter or fidget. When the signal was lost entirely or the connection from a remote location like a stadium was lost, the screen would produce an annoying black and white snowy picture what looked little ants flickering in place. The audio would produce an ear-piercing, sizzling sound. (Bad experiences of my youth!)Of interest and often included in stories about the telecast is what occurred in overtime. NBC lost its connection and the country saw what was called (figuratively) snow on their screens.  Those raised in the cable era who never watched a true over the air television program on a set using a portable or roof antenna probably never experienced snow on their TV screens.

Doing remotes back then wasn’t yet a perfect science. In the overtime of the Colts-Giants game, just a few plays before Ameche’s historic thrust, a critical cable snapped and NBC’s signal was lost.  The network went dark. Technicians needed a few minutes to reconnect, to get the game back on air.

Suddenly, at that point, a fan ran out onto the field and the head referee was forced to pop his head into the Colts’ huddle to inform the players that the game was being delayed. Meanwhile, three New York cops ran out to surround and nab the infiltrator who observers suspected was inebriated.

Lindsey Nelson, then both an NBC executive and on-air broadcaster writes in his book, Hello Everybody, I’m Lindsey Nelson that the man who ran on the field was actually Stan Rotkiewicz, a business manager of NBC News who doubled occasionally as a statistician at sporting events. According to Nelson, “He was an old Roanoke tackle, capable of posing as an errant fan long enough to save the day for his network’s nationwide telecast of a big football game.”

TV announcers

The announcers teamed for the title game, represented the participating teams, Chuck Thompson who called Colts games and Chris Schenkel, the television announcer for the Giants. Both had voices for which to die, that good! Thompson was beloved in Baltimore where he also did Orioles baseball for many years. Schenkel later did college football for ABC and also made his mark as the lead broadcaster for the Professional Bowlers Association.

Radio announcers

Locally in New York, Les Keiter called the game on WCBS Radio. Keiter was quite popular. No recording of his call ever surfaced. Keiter’s voice was throaty, gravelly and inimitable. He brought great excitement to his dramatic broadcasts. He would call drives into the end zone,”5,4,3,2,1 Touchdown!”

Bob Wolff did the game back to Baltimore. There were those who called him, “Howling Bob.” His Ameche call is often heard on replays.

Bill McColgan and John Boland presided over the NBC Radio broadcast. Back then, there was no distinction of a play-by-play announcer and commentator. McColgan did the first half and the overtime and Boland the second half. McColgan who called Cleveland Browns games on radio, did a year of the Indians on television and spent a couple seasons doing the New Orleans Saints.

Boland actually was a member of the Notre Dame football team in the 1920s, a member of the famed Four Horsemen. He was the longtime voice of Irish football and also called the Chicago Cardinals on radio before they moved to St. Louis. His voice was husky and somewhat gruff.

At the end of regulation, Boland:

“We’re going to see the first application ever of the new sudden death role.” 

Later, on the game winning Ameche plunge;  McColgan:

“Unitas has been sensational… Flanker to the right. Ends are tight. Unitas gives to Ameche and the ball game is over. Ameche scores and the Baltimore Colts are the champions of professional football.”

McColgan was the best of the lot. He was silky smooth, had a magical voice, spoke clearly and quickly. He was graphic and easy to follow, a solid play-by-player. He also called the 1955 and 57 NFL title games for NBC Radio. His ’57 partner was the venerable Ray Scott.

In those years, both broadcasters said little when the other was on play-by-play play. The whole production set up was clean and simple; not overbearing, a pleasant listen. Television functioned similarly. When Thompson called the game, Schenkel said little and vice-versa.

There were two sponsors on radio, that was it; Marlboro Cigarettes and Hi-Grade Meats. Related or unrelated, Giants quarterback Charlie Conerly was a Marlboro Man and appeared in lots of the brand’s advertising (but not on the game’s radio broadcast). Hi-Grade promoted its meat products for consumption during the upcoming New Year holiday.

Some things don’t change

Neither announcer used statistics much because they weren’t broken down into minutia the way they are today. That said, McColgan, at one point, said that Ameche was second in NFL rushing behind Jimmy Brown. I was way too young to remember the game so when hearing the recording, I said to myself, wow! When I looked up the numbers, the announcer was indeed accurate. But the comment needed some heft. The unstoppable Brown rushed for 1527 yards and Ameche 797.There were others also clustered close to Ameche’s total too. It wasn’t like Ameche’s numbers were just a few yards behind the immortal Brown!

Change of lingo

McColgan also generally used ‘good’ or ‘no good’ when passes were thrown instead of ‘complete’ or ‘incomplete.’

Public Address Announcer

Those with deciphering ears who monitor the NBC Radio broadcast will hear the golden voiced Bob Sheppard as the in-stadium announcer. He of course was forever the PA announcer for Yankees games too.

The refs

The referees had no mics as they do today. Media members could only work off scant hand signals on the field.

The Giants and Yankee Stadium

The team’s first season in the big ballpark in the Bronx was 1956 when they won the NFL title. Previously, they played at the smaller Polo Grounds where their broadcaster, the late Marty Glickman, told me he could count the house from his broadcast position.

Tidbits and facts about the greatest game

The controversial call of whether Gifford got the first down late in regulation had the Giants angry

After the game, Giants’ coaches, players and fans were sulking over the call involving Frank Gifford and his field nemeses, fellow Californian, defensive tackle, Gino Marchetti. The Giants, as described above, were up 17-14 with some two and a half minutes remaining in the 4th quarter. The Giants had the ball on third down in their own territory. Attaining a first down would have made it extremely difficult for the Colts to fight the Giants through another set of downs and the tyranny of the clock.

Gifford took a handoff from quarterback Conerly and drove hard to the right, straining every muscle of his robust Hollywood body. As Marchetti dragged him to the turf, a trio of stout Baltimore defenders, weighing a collective 750 pounds, leaped on top of the two to prevent Gifford from hitting the first down marker. In the process, one of them, Big Daddy Lipscomb broke Marchetti’s ankle which was twisted under the pile.

As Mark Bowden wrote in his captivating The Best Game Ever, “Marchetti stayed on the turf, holding his leg, rocking back and forth, bellowing. His parents in San Francisco, who were watching the first pro football game they had ever seen on television, looked on with alarm as their son writhed.”

Gifford thought he had the first down but the line judge ruled otherwise. This was before replay or certainly any replay rule. The matter of whether Gifford did or didn’t earn a first down has been a subject of fierce debate for more than a half century.

The ESPN documentary done in conjunction with NFL Films apparently indicated that the line judge made the right call. So cries of “We wuz robbed,” might not have been justified.

The Greatest game and player salaries

You might say that as a result of the game, the television networks stepped up its rights fees significantly. It resulted in an immediate trickle-down effect on player salaries. As mentioned, Johnny Unitas made $17,500 in 1958 for leading the Colts to the league title. In 1964 Joe Namath signed with the AFL’s Jets for $427,000

To appreciate today’s equivalents, $10,000 in 1958 is worth roughly $87,000 today. So by that measure players were badly underpaid then. Today of course, they make millions .

For playing in the title game, each of the Colts earned $4,718 and each Giant got $3,111. Considering the relative pittance players were paid then in salary, the winner’s and loser’s shares were fairly significant.

Incidentally, from 1958-63, the Giants lost 5 NFL title games.

Commissioners Bert Bell and Pete Rozelle

Pete Rozelle, who became commissioner of the NFL in 1960, was then the general manager of the Los Angeles Rams; a franchise that had financial issues. Rozelle couldn’t get ownership (Daniel Reeves) to pay for a trip to New York to attend the game live. So he did the next best thing, he watched the title game in his office. The commissioner’s job opened when Bert Bell passed in November, 1959 at age 64. The commish died in his boots of a heart attack while watching a Steelers-Eagles game in the end zone. He was 64.

The accomplished receiver Ray Berry says that when Bell came into the locker room following the Colts win, he cried.  He was so overwhelmed by the events of the day; the gripping overtime , the packed house and the quality of play. It was as though a dream was reached and he knew it immediately. He was NFL commissioner from 1945-59.

The league’s headquarters were in Philadelphia. All would change the following year when Rozelle took the reins.

‘Win one for the Gipper’

The Colts defensive tackle Gino Marchetti, who broke a leg stopping Frank Gifford from getting a critical first down was on a stretcher along the Colts sideline during the end of regulation and as overtime began. He was in deep pain but stoically refused to be taken back to the locker room. He was intent on watching the rest of the game from the field. He was a military veteran who served in World War II’s Battle of the Bulge. It’s the war experience that Gino said hardened him to pain.

At the start of the overtime, Baltimore coach Weeb Ewbank reportedly turned to his club while pointing to the end zone where Gino was still sitting up on a stretcher, “Win it for Gino.” Marchetti was soon thereafter carried off the playing field because fans were beginning to surge in the area where he was sitting on a stretcher. According to author Bowden, a police captain ordered the Colts to move him to the visitors locker room. But in there he had no radio with which to follow the game and it wasn’t until a happy group of Colts stormed into the dressing room did Marchetti learn that his team won the championship.

Gifford and major injuries

For Gifford, his brutal intersection with hard hitting Marchetti is a reminder of what occurred a couple seasons later. On November 20, 1960, the Eagles’ Chuck Bednarik infamously blindsided Gifford fiercely. Frank was so badly concussed and hurt that he missed the entire following season.

More on Ameche

He was the son of Italian immigrants and cousins of actors Don Ameche and Jim Ameche. He was nicknamed the Iron Horse. Alan died young at 55.

Overtime games

The next title matchup to go into overtime was Super Bowl LI when the Patriots rallied to beat the Falcons.

Odds

Baltimore was 3 ½ point favorites and obviously covered.

Weather

On Christmas, three days earlier, New York was in a deep freeze, a high of 30 and a low of 15. On the day of the game, the 28th it was almost balmy.  The high was 49 degrees.

For those interested in delving deeper into the game, I would strongly suggest Mark Bowden’s book, The Best Game Ever: Giants vs. Colts, 1958, and the Birth of the Modern NFL .

Bowden writes for the Atlantic and was a reporter for the Philadelphia Inquirer for 21 years. Among other things, he covered the Eagles. Bowden has written books about a range of topics from the Iranian hostage crisis to hunting down Osama Bin Laden. He is a first cousin once removed of the legendary ex-Florida State coach, Bobby Bowden.

 

35 years ago

Today in 1983, I was a freshman at UW–Madison. My first-semester schedule — a horrid screwed-up mess because, in the troglodyte days of assignment committees to register for classes — I had just one comparative-literature class and marching band practice on Wednesdays. That’s what I remember, anyway.

A lot of people on the politically overstimulated UW–Madison campus were discussing ABC-TV’s upcoming movie “The Day After,” which depicted the U.S. following a nuclear war.

Unknown to us this day, the day of the movie (which I missed because that was also the night of the UW Marching Band banquet, a far more important event) or for years afterward was that apparently the U.S. and the Soviet Union came close to preempting “The Day After” for the real thing.

The Economist reviews 1983: Reagan, Andropov and a World on the Brink:

The Cuban Missile Crisis of 1962 was terrifying, but at least both sides knew the world was on the brink of catastrophe. As Taylor Downing’s snappily told account lays bare, what arguably made the near-miss of November 9th 1983 worse was that the West had almost no idea the Soviet leadership believed war was imminent.

East-West relations had been in dire straits for years. Ronald Reagan’s soaring anti-communist rhetoric, terming the Soviet bloc an “evil empire”, inspired freedom-lovers on both sides of the Iron Curtain, but panicked the Politburo gerontocracy. So too did his idealistic belief that missile-defence (“Star Wars”) might keep the peace better than MAD (mutually assured destruction). A hi-tech arms race spelled doom for the Soviet Union.

As communication had shrivelled, misunderstandings mushroomed. When the Soviets shot down a Korean airliner that had veered drastically off course into their airspace, nobody in the American administration could countenance the idea that the tragedy might be (as it was) a blunder, not an atrocity. The Soviets were certain the plane was on a spying mission.

NATO’s “Able Archer” exercise was also wildly misinterpreted. The Kremlin was convinced it masked war preparations. A routine change of NATO codes made the Soviets assume a nuclear first strike was imminent. In fact the KGB had an agent in the heart of NATO, Rainer Rupp. In response to an emergency request, he assured Moscow, with some bemusement, that everything in the alliance’s civilian bureaucracy was ticking along as normal. But the spymasters discounted the information, while “toadying KGB officers on the ground…sent back alarmist reports.” If the Soviet misreading of NATO intentions was a colossal intelligence failure, so was the inability of Western intelligence to realise just how jittery and ill-informed the Communist leadership had become.

As the Soviet Union put its nuclear forces on high alert, Lieutenant-General Leonard Perroots, the American air-force intelligence chief in Europe, reacted with puzzlement. A quid pro quo might have triggered an all-out nuclear war, which would, as Mr Downing puts it, leave only “cockroaches and scorpions” alive. Luckily, Perroots did nothing. After a sleepless night, the Kremlin leadership, huddled in a clinic outside Moscow with the ailing general secretary, Yuri Andropov, realised nothing was going to happen.

Mr Downing’s book gives abundant historical background, perhaps too much for readers familiar with the period. A useful later chapter depicts how realisation of the Soviet panic unfolded in the West, first in classified assessments and eventually, long after the event, in the public domain—not least thanks to Mr Downing’s television documentary, screened in 2008. He wisely avoids questions of the morality of nukes. Instead he focuses on the shortcomings that made accidental nuclear war far too plausible.

A Packer what-if

The three greatest quarterbacks in Packers history in the Super Bowl era are Bart Starr, Brett Favre and Aaron Rodgers, arguably followed by Lynn Dickey.

After Dickey comes, or came, the abyss. Fans who suffered through the Gory Years after Vince Lombardi left and before Ron Wolf got to Green Bay can recite with varying degrees of exasperation the list of starting quarterbacks after Starr and before Favre, including Scott Hunter (who at least won a division title by handing off to John Brockington and MacArthur Lane), Jerry Tagge (a Green Bay native whose skills as Nebraska’s quarterback in more of a passing offense than the Cornhuskers eventually ran didn’t translate into the NFL), Jim Del Gaizo (because the third-string draft pick of the Super Bowl VII champion Miami Dolphins should be worth two second-round draft picks, right?), Jack Concannon (perhaps because he was on the early ’70s Cowboys practicd squad), John Hadl (more about him momentarily), Don Milan, Carlos Brown (later known as actor Alan Autry of “In the Heat of the Night”), Randy Johnson and David Whitehurst produced little success.

That’s the pre-Dickey’s-broken-leg list. After Dickey came Randy Wright (one of UW’s best quarterbacks, but see Tagge), Jim Zorn (previously in Seattle), Don Majkowski (Magik for 1989), Anthony Dilweg (despite being the grandson of a Packer alumnus), Mike Tomczak (who was less effective in Green Bay than he was in Chicago, and he was no Jim McMahon with Da Bears) and Blair Kiel (formerly of Notre Dame, about which more later).

The worst part of this tale of woe is Hadl, the object of possibly the most idiotic trade in NFL history. Somewhere between Del Gaizo and Milan GM/coach Dan Devine realized he had no NFL-level quarterbacks on his roster. And so Devine panicked and sent two first-round draft picks, a second-round pick and two third-round picks to the Rams for Hadl. Starr, who replaced Devine as GM and coach after Devine left for Notre Dame, then had to send two more draft picks and a player to Houston to get Dickey.

That long preamble leads us to Cliff Christl:

Over a span of seven years, from when the newly formed American Football League held its first draft on Nov. 22, 1959 until a merger agreement with the National Football League was reached in June 1966, the two leagues held separate college drafts and engaged in expensive bidding wars to sign their picks.

The Green Bay Packers lost only one of nine No. 1 choices during that period and it proved to be no loss. Wide receiver Larry Elkins, selected with the Packers’ second first-round pick and 10th choice overall in the 1965 draft, signed with the Houston Oilers and turned out to be a bust. He played two years and caught a total of 24 passes.

Still, the Packers lost a quarterback who could have become Bart Starr’s heir apparent and four solid offensive linemen. …

The AFL held its draft on Dec. 1, 1962, two days before the NFL, and the Buffalo Bills announced 13 days later they had signed Lamonica, their 24th round choice. “I’m going with the Bills because they gave me a better one-year offer,” explained Lamonica. “I don’t intend to play pro ball the rest of my young life. I have other things in mind.”

The quarterback who became known as “The Mad Bomber” as a pro struggled as a senior at Notre Dame under Joe Kuharich much like Joe Montana did later under Dan Devine. In fact, Kuharich considered Lamonica a better runner, but thought junior Frank Budka was the better passer because he threw a better deep ball. So he had them split time.

1963 wasn’t one of Notre Dame’s more memorable seasons and Lamonica was the subject of one of the better stories that circulated in South Bend. Apocryphal or not, it went like this. One day a priest encountered him on a golf course and asked why he wasn’t at practice. Lamonica responded, “I don’t have to practice. I know both of Kuharich’s plays.” So the priest, in need of a golf partner the next day, asked Lamonica to join him. “Can’t make it today,” said the quarterback. “I have to find out which play Joe wants to use Saturday.”

Following a 35-6 loss to Northwestern, Notre Dame was scheduled to play Navy next. That week, the Midshipmen’s chief scout Steve Belichick told the Baltimore Sun that Notre Dame’s biggest problem was quarterback because four players were sharing the position. But Belichick added that he liked what he saw of Lamonica, despite the lopsided score, when he got a chance to play in the second half against Northwestern. “He gave them the best passing they’ve had all year,” Belichick said. Sure enough, against Navy, Lamonica outplayed sophomore Roger Staubach and triggered a four-game winning streak for the Irish.

After signing with Buffalo, Lamonica spent four years backing up veteran Jack Kemp, but went 4-0 in his only starts. Traded to Oakland in 1967, Lamonica led the Raiders to a 13-1 regular-season record, the AFL championship and a matchup with Green Bay in Super Bowl II. He also was named the AFL’s Player of the Year.

The week before the Super Bowl, Green Bay native Red Smith, who would win a Pulitzer Prize nine years later, interviewed George Wilson, who had coached Detroit from 1957-64 and also had faced Lamonica three times as coach of the Miami Dolphins. Asked to compare the two teams, Wilson said he thought Lamonica would be the key to the game. “I believe the two hottest quarterbacks in professional football through the season were Sonny Jurgensen with the Redskins and Lamonica in our league,” said Wilson.

Although Starr outplayed Lamonica in the Super Bowl, the latter compiled a 62-16-6 record as Oakland’s starter before being replaced by future Hall of Famer Ken Stabler in 1973.

When the Raiders acquired Lamonica, Ron Wolf was a 29-year-old scout in his fifth year with the team. Wolf has no doubt Lamonica would have eventually played for the Packers.

“He threw 30 touchdown passes his first year, 34 another year,” said Wolf. “The team went 13-1 with him as a quarterback. He had a strong arm. He could make all the throws. Plus, he was agile enough to get out of trouble.”

In Wolf’s eyes, Lamonica might have been the second best quarterback in AFL history. “Of his era, there wasn’t anybody as good as Joe Namath,” said Wolf. “Joe Namath was a cut above everybody else. He’s in the Hall of Fame. But Daryle would be No. 2. (Len) Dawson is in the Hall of Fame, but I think Daryle was better than Dawson. (George) Blanda is in the Hall of Fame. But Daryle could make all the throws.”

No doubt, Lamonica was better than any Packers’ quarterback between Starr and Lynn Dickey, but he would have been 29 years old when Starr’s shoulder problems signaled the end was near in 1969.

Keep in mind as well that most of Lamonica’s career was in the wide-open AFL. (The same applies to Hadl.) Raiders owner Al Davis coached under Sid Gillman, one of the architects of the modern passing game, and Davis loved throwing deep. (Here’s a big what-if: Davis apparently once considered trading Stabler, perhaps the most accurate quarterback of the 1970s, to Pittsburgh for Steeler quarterback Terry Bradshaw.) Even though under Bengtson quarterback Don Horn once threw for 410 yards in a game, no NFL team threw as freely as the Raiders with Lamonica or the Chargers with Hadl.

One big problem every Packer quarterback between Starr and Favre faced (often from their backs) was poor-quality offensive lines. Christl’s piece also discusses four offensive linemen the Packers drafted but lost to AFL teams who arguably would have been better than the offensive linemen the Packers had once the Glory Days offensive line retired or were traded away (Forrest Gregg to Dallas).

And while we’re talking about problems of Packer quarterbacks, we might as well add the quality, or lack thereof, of targets for those quarterbacks. The 1972 NFC Central champion Packers were so ground-bound that Hunter averaged less than 100 passing yards per game. Carroll Dale, nearing the end of his career, led the Packers with 16 catches for 317 yards and one touchdown. Those aren’t even good high school numbers today. (In fact the 1972 Packers were just 11th in offensive points per game, but were fourth in points given up per game.)

Other Packer receivers, if you want to call them that, of this era included 1973 first-round pick Barry Smith, who lasted three seasons because he didn’t like to catch balls over the middle, and a group of guys you’ve never heard of. (Jack Clancy? Jon Staggers? Leland Glass? Ollie Smith?) After Dale’s and Boyd Dowler’s departures, not until the Packers drafted James Lofton first in 1978 did they have a quality receiver on the team. (Dale and Dowler were more like spread-out tight ends than fast receivers, which Lombardi never had.) Meanwhile, Hadl was throwing to a Hall of Fame receiver, Lance Alworth, and Lamonica was throwing to another Hall of Fame receiver, Fred Biletnikoff; two other above-average receivers, Warren Wells and tight end Raymond Chester; and several running backs who could also catch.

231 years later

John York, one week after Constitution Day:

Americans should be thankful not only for the rare genius that assembled in Philadelphia in 1787 to draft the Constitution, but for the unique circumstances under which they met.

Not all moments in time are ripe for founding a nation. Nor is every citizenry equally prepared to receive new modes and orders. The Founders’ time and generation presented just such an opportunity. Our time would not.

Earlier this month, University of Texas law professor Sanford Levinson wrote that “not enough people connect the dots … between our political dysfunctions and the sacred Constitution of 1787.”

What dysfunctions does he have in mind? President Donald Trump’s “near dictatorial powers with regard to mobilization of the American military, control of immigration, or the imposition of tariffs against one and all countries around the world.”

Levinson is not the only person questioning the wisdom of our constitutional design now that Trump occupies the White House. Weeks after the 2016 election, in which Trump won the Electoral College but lost the popular vote by a small margin, the editorial board of The New York Times demandedthat we replace our “antiquated system” of presidential selection and impose direct popular elections.

Similarly, after Republicans took control of the Senate, Jacobin’s Daniel Lazare advocated abolishing the upper chamber, which he contends “grossly marginalized” voters in states such as California and New York.

It is difficult to reason about the proper structure of government in the midst of partisan tumult. This is true of Republicans as well. Immediately after the 2016 election, Republican support for direct election of the president dropped from 54 percent to 19 percent.

Both Democrats and Republicans know what institutional arrangements benefit their side and, if given the opportunity, would rig the system in their favor.

Thankfully, party conflict at the time of the founding was virtually nonexistent, and factional strife was tamped down. According to James Madison, going through the crucible of the Revolutionary War bound the nation together and “repressed the passions most unfriendly to order and concord.”

The unity born of this great existential threat “stifled the ordinary diversity of opinions on great national questions.” Hence, “no spirit of party connected with the changes to be made.” So too did the near universal experience of the failures of the Articles of Confederation.

This national unity did not last long. George Washington was still in the White House when the battle lines were drawn between the Federalists led by Alexander Hamilton and the Democratic-Republicans led by Madison and Thomas Jefferson.

Had the Constitution been drafted only a few years later, these inchoate parties already might have become sufficiently developed to give a partisan taint to both the convention and ratification debates that would have followed.

The revolution not only tempered factionalism and forestalled partisanship, it also elevated a cadre of universally revered national figures capable of effectively championing the Constitution. As Madison writes, the war imbued the public with “enthusiastic confidence … in their public leaders”—men such as Washington, Hamilton, Ben Franklin, and Madison.

If not for the public reputations of these men, citizens may have been understandably hesitant to accept a wholly new and untested form of government. Leaving the familiar shores of the status quo is always a dangerous risk. But, with trusted captains at the helm, the nation was able to face down the fear of the unknown.

Imagine if a constitutional convention were held in a political climate more like our own. Would the public have “enthusiastic confidence” in their political leaders—the delegates to such a convention? There is no public figure that enjoys the sort of near-universal public adoration that Washington did at the time of the founding. Collectively, our national politicians are less trusted than at any point since the beginning of scientific public opinion polling.

Trust in politicians is particularly low today, but political figures rarely enjoy widespread, bipartisan support. Even when politicians lead the nation through great existential threats, goodwill tends to evaporate very quickly—just ask former President George W. Bush.

Even the reputations of our Founding Fathers eventually were sullied as the revolutionary unity dissolved into partisan rancor. The election of 1800, which pitted Jefferson against John Adams, was famously vicious.

Adams’ supporters publicly claimed that Jefferson’s election would usher in an epoch during which “murder, robbery, rape, adultery, and incest will be openly taught and practiced.” Jefferson’s allies retorted that Adams was a “repulsive pedant” who “behaved neither like a man nor like a woman but instead possessed a hideous hermaphroditical character.”

The fortuitous conditions Madison points to only set the stage for what unfolded in Philadelphia 231 years ago. Without the genius and public spiritedness of the Founders, the moment might have slipped by.

But at a time so taken with the idea of progress, among a people convinced that time confers useful experience, if not greater wisdom, it is important to celebrate both the men and the moment that gave rise to our Constitution.

The Crash: Another view

Matthew D. Mitchell has a different opinion about The Crash of 2008 and the resulting bailouts:

As the 10th anniversary of the historic bailout of 2008 looms, many people will undoubtedly say —as President Bush said at the time—that it was necessary to abandon“free market principles to save the free market system.” They will tell us that the government had no alternative. And they will say that the bailout “worked” because the economy didn’t go from a recession to a depression.

The truth is that there were alternatives. As our George Mason University colleague Garett Jones has written, a process known as “speed bankruptcy”—endorsed by economists on the left and the right—would have permitted quick conversion of bank debt into bank equity, recapitalizing the banks while avoiding the use of taxpayer funds.

We can’t be certain of what would have happened had something like speed bankruptcy been tried. But we do know that even with the bailout, the economy fell into the deepest and longest-lasting recession since the Great Depression. That is hardly proof positive that it “worked.”

Moreover, we know from the history of bailouts that the true cost of a bailout is not the taxpayer expense (which is often recouped) but the expectation it sets for future bailouts, an expectation that invites future disaster.

In 1971, the US government gave Lockheed Aircraft Corporation $250 million in emergency loan guarantees. It was the first time the federal government ever came to the rescue of a single firm. Shortly thereafter, the bankrupt Penn Central Railroad and other struggling railroads received hundreds of millions of dollars in emergency grants and loan guarantees. That was followed by $1.5 billion in loan guarantees for the ailing Chrysler Corporation in 1979.

The phrase “too big to fail” entered the American lexicon in the wake of a federal bailout of Continental Illinois Bank in 1984. Next, the federal government bailed out the creditors of hundreds of savings and loan (S&L)associations in the late 1980s and early 1990s at a cost to taxpayers of around $150 billion. In the late 1990s, the Fed orchestrated the private bailout of hedge fund Long-Term Capital Management. No taxpayer money was involved, but the Fed’s keen interest in the case led many industry observers to believe that the Fed would not let large institutions—or their creditors—fail.

The record-setting federal bailout of 2008-09 showed that these expectations were accurate. First, the New York Federal Reserve made a $30 billion loan to J. P. Morgan Chase so that it could purchase Bear Stearns. Next, in order to save them from bankruptcy, the federal government took over mortgage giants Fannie Mae and Freddie Mac. Then the government paused, allowing Lehman Brothers and its creditors to fall on September 15, 2008. Two days later, bailouts resumed and the Federal Reserve made an $85 billion loan to the insurance firm American International Group. The culmination of this series of bailouts was the Troubled Asset Relief Program (TARP), a $700 billion bailout that gave hundreds of financial firms and auto companies emergency government assistance.

Although proponents of the Dodd-Frank financial reform legislation, passed after the 2008 meltdown, claimed it would help avoid future government bailouts, the perception that major financial interests are “too big to fail” remains an unfortunate reality. The Federal Reserve Bank of Richmond’s “Bailout Barometer” periodically estimates the extent to which the financial industry’s liabilities are explicitly and implicitly backed by the federal government. According to the most recent estimate, the share of financial sector liabilities subject to implicit or explicit government protection from losses grew from 45 percent in 1999 to 60 percent in 2016, by which time they amounted to $26 trillion. The authors succinctly note that “This protection may encourage risk-taking, making financial crises and bailouts more likely.”

As the Richmond Fed researchers explain in an accompanying document, the Bailout Barometer includes “other liabilities [that] are believed by many market participants to be implicitly guaranteed by the federal government.” The expectation that a company and its creditors will be bailed out by the government, should they find themselves in dire financial straits, can be an extraordinary privilege.

Take, for example, Fannie Mae and Freddie Mac. Well before they were rescued by the federal government, Fannie and Freddie benefited from the expectation of government assistance. The firms were chartered by Congress and widely assumed to have its financial support. This assumption meant that compared with firms lacking support from the federal government, Fannie and Freddie appeared to be safer investments. As the Congressional Budget Office explains, this expectation, in turn, provided the companies a competitive advantage against private competitors:

“Because of their implicit federal guarantee, Fannie Mae and Freddie Mac could borrow to fund their portfolio holdings at much lower interest rates than those paid by fully private financial institutions that posed otherwise comparable risks, and investors valued the GSEs’ credit guarantees more highly than those issued by fully private guarantors … The advantages of implicit federal support allowed Fannie Mae and Freddie Mac to grow rapidly and dominate the secondary market for the types of mortgages they were permitted to buy (known as conforming mortgages). In turn, the perception that the GSEs had become “too big to fail” reinforced the idea that they were federally protected.”

The federal government’s history of bailing out creditorsmade this expectation especially strong.

Now that the summer of 2008 is a decade in the rearview mirror, we should be mindful that bailouts– and expectations thereof–encourage risky behavior, inviting crisis and further bailouts. Notwithstanding Mr. Bush’s assertion, one cannot save free enterprise by abandoning free enterprise. And free enterprise runs on market signals. Just as firms need profit signals to encourage good decision making, they need loss signals to discourage mistakes.

Unfortunately, just as the bailouts of the ‘70s, ‘80s, and ‘90s begat the massive bailouts of the 2000s, the likelihood of further–and perhaps even larger–bailouts in the future remains disconcertingly high.

 

The Crash: One view

The New York Times’ Neil Irwin writes about the financial meltdown of a decade ago, and reactions to the fixes:

It’s hard to overstate how deeply Americans despised their government’s response to the global financial crisis. It has helped shape the last decade of American politics, fueling distrust of powerful institutions and speeding a drift toward ideological extremes.

But for all that anger, the engineers of the American crisis response got the economics mostly correct, and more right than most of those — including leading economic thinkers and prominent politicians — who were second-guessing them.

I was a beat reporter covering the events at the time and the key players — including the former Treasury secretaries Hank Paulson and Tim Geithner, and the former Federal Reserve chairman Ben Bernanke — and then wrote a bookon the crisis. Looking back on it a decade later, I’m struck by the way that I, and they, misunderstood what “success” would actually mean.

The engineers of the response succeeded in their immediate goal, to preserve the financial system. But they — or, more precisely, they and their political leaders at the time — also left fissures that threaten to undermine the system they sought to preserve. The very underpinnings of modern capitalism are being questioned from all sides. A Republican administration has gleefully cast aside trade deals, for instance, and the energy among Democrats is around democratic socialism.

To understand the challenges and ultimately the failure of the politics of their response, it helps to put yourself back in 2008 and 2009, when the financial might of the United States government — trillions of dollars, cumulatively — was deployed to try to contain the crisis.

Mr. Geithner, Mr. Paulson and Mr. Bernanke are centrists in the context of modern American politics, but they are conservatives in the traditional sense — people trying to preserve a system they inherited.

Their strategy was to patch things up as quickly as possible. The goal was not to try to reinvent Wall Street on the fly, but to keep the flow of capital coursing through the global economy while minimizing the depth and duration of the recession that the crisis had caused.

Some 230 academic economists signed a letterattacking the bank bailout legislation that Mr. Paulson proposed as unfair and a potential threat to the vibrancy of private markets.

Mr. Geithner’s disinclination to nationalize banks drew fierce criticism from liberals who argued that the government was essentially funneling money to banks with little assurance they would resume lending.

“Whatever its merits, his bailout plan offers generous subsidies to banks and private investors while protecting bank management and creditors,” John B. Judis wrote in 2009 in a New Republic article titled “The Geithner Disaster.”

Mr. Bernanke’s efforts to pump money into the economy by buying up bonds also met opposition. A group of conservative economists wrote a letter in 2010 arguing that the Fed’s plans to engage in quantitative easing “risk currency debasement and inflation, and we do not think they will achieve the Fed’s objective of promoting employment.”

These attacks were misguided.

Mr. Paulson’s financial rescue package did not herald an era of socialism on Wall Street; nor did it come at a huge continuing cost to taxpayers. By many measures, it made money.

Mr. Geithner’s stress tests achieved their goal of restoring confidence in major banks without the cost and political damage of nationalizing them. They were successful enough that similar stress tests are now a part of regulators’ tool kits both in the United States and overseas.

Mr. Bernanke’s aggressive monetary policy probably played a role in getting the expansion on track starting in mid-2009. Quantitative easing and low interest rates did not cause a collapse of the dollar or spiraling inflation.

Nobody would argue that the United States economy is perfect, or that the policymakers got everything exactly right.

If Mr. Paulson had secured financial rescue legislation before Lehman Brothers went bankrupt, perhaps the most severe phase of the crisis could have been avoided altogether, though it is a puzzle how he could have gotten the votes for such a plan before the crisis became more severe. If Mr. Bernanke had moved faster — putting an open-ended quantitative easing program in place in 2009 or 2010 instead of waiting till 2012 — maybe full recovery would have come sooner.

It’s not clear how the recovery might have looked had Mr. Geithner embraced a more activist approach to replacing management and taking greater government control of the most troubled large banks, notably Citigroup and Bank of America. Or if he had welcomed a larger program to help relieve borrowers who were underwater on their homes.

The tactics the men chose can be second-guessed, but the result of their efforts speaks for itself. The expansion has lasted nine years, the second longest on record. Although job gains were disappointingly slow for years, the unemployment rate is now 3.9 percent, among the lowest in decades.

From 2007 to 2017, per-person inflation-adjusted G.D.P. rose 6.3 percent in the United States, compared with only 3 percent in the eurozone, where similar policies were embraced more slowly.

In exhaustive research of the history of financial crises, the economists Carmen Reinhart and Kenneth Rogoff found that it takes eight years on average for a society to return to its level of per-person income. The United States did so in 2013, only six years after the peak of the crisis.

The political price

It was Feb. 19, 2009, less than a month into the Obama administration. Mr. Geithner and his colleagues had introduced plans to assist struggling homeowners, which many liberal critics considered deeply inadequate.

The human cost of the foreclosure crisis was indeed immense; there were 2.8 million foreclosures that year alone. But the politics of helping troubled homeowners were more toxic than the crisis managers had foreseen.

From the floor of the Chicago Mercantile Exchange, the CNBC broadcaster Rick Santelli began a rant for the ages. “How many of you people want to pay for your neighbor’s mortgage that has an extra bathroom and can’t pay their bills?” Mr. Santelli said, as traders cheered behind him. “President Obama, are you listening?”

“We’re thinking about having a Chicago tea party in July,” he continued.

The term stuck, and was embraced by the conservative activists who propelled Republicans to victory in the 2010 midterm elections — driven, in no small part, by opposition to economic stimulus, financial bailouts and the work of the Federal Reserve.

The policymakers knew history’s warnings about economic policy that reacts too sluggishly to financial crisis.

Mr. Geithner spent some evenings in the darkest days reading in Liaquat Ahamed’s “Lords of Finance” about how an earlier generation of policymakers bungled the response to the Great Depression. Mr. Bernanke is a scholar of that era in his own right.

But they seemed to assume that if they got the economics right, popular support would follow. As Mr. Bernanke wrote in his memoir about the Santelli rant, “I remained perplexed that helping homeowners was not more politically popular.”

There’s a reason, of course, that they were in their roles as appointed technocrats and not politicians. But it isn’t clear that George W. Bush or Barack Obama had any better ideas for bringing along the public than did the men they chose to lead financial policy. The crisis response may well have been a Rubik’s Cube of political and economic challenges too complicated to solve.

It was foreseeable, perhaps, that many on the left would view the Geithner-Paulson-Bernanke strategy as too friendly to Wall Street interests. It was also foreseeable that the libertarian right would loathe the bailouts. More surprising were the ways in which some of the biggest beneficiaries of the strategy became vocal opponents.

The Geithner strategy was based on rescuing Wall Street, using hundreds of billions of taxpayer dollars — while building a more rigorous regulatory system to try to prevent a similar crisis.

But by the time what became the Dodd-Frank Act was on its way to passage in 2010, the financial industry and nearly all Republicans in Congress had committed to all-out opposition of industry regulation. Only three of 178 Republican House members, for example, supported the bill.

Even as Mr. Bernanke’s easy money policies pushed the stock market upward and coincided with a gradually improving economy and low inflation, the drumbeat of commentary was overwhelmingly negative.

You could turn on a financial network at nearly any hour of the trading day and hear complaints about how quantitative easing and zero interest rates were distorting markets. When Mr. Bernanke left office in early 2014, when the stock market was soaring and the unemployment rate was falling fast, only 28 percent of Republicans approved of his performance, according to a Gallup survey.

Success has rarely been so unpopular.

How the crisis broke our politics

In July, Mr. Bernanke, Mr. Geithner and Mr. Paulson were together again. They invited a handful of reporters to interview them in a conference room at the Brookings Institution, where they will be participating in a crisis retrospective in September.

Might the rise of anti-establishment parties around the world — not least Donald J. Trump on the right and Bernie Sanders-esque socialists on the left in the United States — be traced to their work as crisis responders?

“We know from history that financial crises, particularly big ones, do tend to get followed by a populist reaction,” Mr. Bernanke said. “I think we all tried our best to explain what we were doing and work with the politics, as difficult as it was. I think back to the crisis, we were very focused on preventing the collapse of the financial system. And developing our communication to the broad public wasn’t always our first priority.”

He argued, though, that longer-term trends — like stagnation in middle-class wages, social dysfunctions, rising mistrust in government and hostility to immigration — were a bigger explanation for the rise in a politics of extremes.

This analysis seems both correct and incomplete. Of course, the embrace of anti-immigrant nationalism on the right and of socialism on the left have roots considerably deeper than a bank bailout or a quantitative easing program.

But it was the experience of the crisis, and the sense among Americans of all ideological dispositions that they were being asked to foot the bill for someone else’s mistakes — whether by Wall Street C.E.O.s or by Mr. Santelli’s neighbor with the renovated bathroom — that helped make those long-simmering problems boil over.

The response to the crisis was in many ways the high-water mark for a mold of centrist, technocratic policymaking that seeks to tweak and nudge existing institutions toward better outcomes. It also undermined any widespread popular support for that mode of governing for the foreseeable future.

It turns out, when you throw trillions of dollars at rescuing a system that most people don’t like very much in the first place, the result isn’t relief.

It’s anger.

Watch this space for another opinion on this subject.

 

242 years ago

Declaration_Pg1of1_AC

IN CONGRESS, July 4, 1776.

The unanimous Declaration of the thirteen united States of America,

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.–That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, –That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.–Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the Legislative powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.
He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers.
He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.
He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.
He has affected to render the Military independent of and superior to the Civil power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For Quartering large bodies of armed troops among us:
For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States:
For cutting off our Trade with all parts of the world:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefits of Trial by Jury:
For transporting us beyond Seas to be tried for pretended offences
For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies:
For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:
For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated Government here, by declaring us out of his Protection and waging War against us.
He has plundered our seas, ravaged our Coasts, burnt our towns, and destroyed the lives of our people.
He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny, already begun with circumstances of Cruelty & perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.
He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.
He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages, whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our Brittish brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.

The 56 signatures on the Declaration appear in the positions indicated:

Column 1
Georgia:
Button Gwinnett
Lyman Hall
George Walton

Column 2
North Carolina:
William Hooper
Joseph Hewes
John Penn
South Carolina:
Edward Rutledge
Thomas Heyward, Jr.
Thomas Lynch, Jr.
Arthur Middleton

Column 3
Massachusetts:
John Hancock
Maryland:
Samuel Chase
William Paca
Thomas Stone
Charles Carroll of Carrollton
Virginia:
George Wythe
Richard Henry Lee
Thomas Jefferson
Benjamin Harrison
Thomas Nelson, Jr.
Francis Lightfoot Lee
Carter Braxton

Column 4
Pennsylvania:
Robert Morris
Benjamin Rush
Benjamin Franklin
John Morton
George Clymer
James Smith
George Taylor
James Wilson
George Ross
Delaware:
Caesar Rodney
George Read
Thomas McKean

Column 5
New York:
William Floyd
Philip Livingston
Francis Lewis
Lewis Morris
New Jersey:
Richard Stockton
John Witherspoon
Francis Hopkinson
John Hart
Abraham Clark

Column 6
New Hampshire:
Josiah Bartlett
William Whipple
Massachusetts:
Samuel Adams
John Adams
Robert Treat Paine
Elbridge Gerry
Rhode Island:
Stephen Hopkins
William Ellery
Connecticut:
Roger Sherman
Samuel Huntington
William Williams
Oliver Wolcott
New Hampshire:
Matthew Thornton

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