Sunday, October 5, 2008

America Needs Texas Ascendant

The government bailout of Wall Street on October 4, 2008, shows that Wall Street rules America. That Wall Street needed a bailout and numerous New York investment banks failed proves Wall Street is an incompetent master. (Lehman Brothers went bankrupt, Goldman Sachs and Morgan Stanley reorganized as bank holding companies.)

America needs Texas ascendant. For the good of the nation, Texas must take control of America away from Wall Street.

Since the founding of our American republic, when Alexander Hamilton was the first Secretary of the Treasury and also the founder of the Bank of New York, New York bankers have had a dangerous amount of power. Alexander Hamilton also founded the New York Post newspaper, establishing the money men as the controllers of America's news from the first days of our republic.

New York money men have ruled, or tried to rule, America since its inception. Today they clearly run Washington even though a Texan sits in the Oval Office (this is October 2008).

It is time for a true Texan to be President. The next Texan to go to the White House cannot be a servant of New York money.

If money rules America, then we in Texas must replace New York as the financial center of America. Now that investment banks in New York are failing, it is an excellent time to start investment banks in Texas. There is a lot of unemployed expertise waiting to be picked up.

How can Texas do better in banking than New York? Honor, that is how. Cicero said that nothing dishonorable can be beneficial. The New York bankers spun a web of deception that has rocked the financial world. We in Texas must put honesty and honor first. We must lift high the standards of business in Texas so the entire world expects Texas businessmen to be the most trustworthy and reliable bankers on earth.

Competency and honor will lead to lasting success. Look at how dishonesty in New York destroyed very old financial firms. Lehman Brothers was over 100 years old when it went bankrupt. There is a natural law in politics that our founding fathers believed in. There is also a natural law in economics. Wall Street has proven that a day of retribution will eventually come to those who violate the natural laws of economics.

There are many good church people in Texas. There are many good people in Texas who are not Christians. But the good people of Texas must no longer accept Machiavellians like Lee Atwater because evil deeds always come back. Texas cannot have honest business and at the same time corrupt politics. If we want to set standards for honesty in business, we must also set standards for decency and honesty in our politics.

America needs Texas leadership, but America needs the best we have to offer. To be our best we must be honorable.

Robert Canright

No comments: