1 definition by JumboBum
Philanthropist, economist, 31st President of the US. Great man: Terrible politician.
Saved millions of Belgians from starvation after WWI with his own money. Railed against rampant speculation as early as 1925. At this time there was no SEC to oversee Wall Street (NYSE). Wall Street was under control of the State of New York. Guess who was Governor of New York at that time? That's right; FDR. Franklin Delano Roosevelt. He encouraged speculation until the bottom fell out in 1929. Care to guess who was left holding the bag?
Hoover was now out. But for 12 years, FDR oversaw the Great Depression. It was only by entering WWII that the country was able to turn around. Not his alphabet soup programs.
Don't get me wrong; FDR was a great unifier. But Hoover's name carries a little too much burdon.
"I had to cover for Joe's mistakes. At the meeting everyone thought it was my fault and Joe was the hero. I got the Herbert Hoover from the Boss."
Saved millions of Belgians from starvation after WWI with his own money. Railed against rampant speculation as early as 1925. At this time there was no SEC to oversee Wall Street (NYSE). Wall Street was under control of the State of New York. Guess who was Governor of New York at that time? That's right; FDR. Franklin Delano Roosevelt. He encouraged speculation until the bottom fell out in 1929. Care to guess who was left holding the bag?
Hoover was now out. But for 12 years, FDR oversaw the Great Depression. It was only by entering WWII that the country was able to turn around. Not his alphabet soup programs.
Don't get me wrong; FDR was a great unifier. But Hoover's name carries a little too much burdon.
"I had to cover for Joe's mistakes. At the meeting everyone thought it was my fault and Joe was the hero. I got the Herbert Hoover from the Boss."
by JumboBum January 3, 2006