Panic of 1907

I was reading an article the other day called "The Panic of 1907" describing the financial fiasco that included a U.S. Stock Market crash, bank failure internationally, and a $15 billion loss (in today's dollar). At the time J.P Morgan was our Warren Buffet of today. However, when J.P. Morgan heard the news of the economic system collapse, he did not panic but held strong. Which would make sense because you could imagine how you would feel if you knew Ben Bernanke was nervous.

At this point, the Fed did not exist. A hard fact to grasp today.

Morgan appointed George Baker of First National Bank and James Stillman of National City Bank to decide which trust companies should be allowed to fail and which could survive with a cash infusion. This is similar to today but unfortunately I think we are decided bank failure on which name failing would be the biggest shock. For example, Bear Stearns could not fail because it was such a HUGE name in the business...

Regardless of the economy, New York City as a city had to be saved. This caused Morgan to gather 50 trust company presidents and asked them to come up with $25 million. Morgan required each to take place in the $25 million loan.

This panic of 1907 made people determine that a country's financial welfare could no longer be left in private hands while today we are facing a similar conclusion based on which side of the fence you stand on.

Morgan did not do this for his personal gain, he lost $21 million. This kind of patriotism for the nation's well-being is what we need today. Someone who sees beyond their personal loss and sees a nation's loss. Who is willing to lose $21 million in order to save 21 million jobs? Although what drives a lot of our economy today is based off of self-interest and greed, today we need some selflessness.

We need to be paying attention to which leaders are fighting for the American people and which are using the American people as a disguise for personal gain.


Source: www.courier-journal.com

Iraq War vs. Domestic goods

If the government used the tax money that came from Suffolk Country alone for things other than the Iraq war, these are the goods that could have been provided domestically:

Health care for 122,148 people for a whole year

Homes with renewable electricity for one year for 1,240,078 people.

Public Safety officers for one year for 12,783 people.

10,087 Music and art teachers for one year

108,087 scholarships for University students for one year

3,765 affordable housing units

231,459 children with Health Care for one year

2,671 Elementary teachers for one year .....

This is just for one County. Imagine what the numbers would be with many more.

- A.

source: www.nationalpriorities.org/costofwar_home

Rules of the Kitchen

I have not updated much but I would like to leave this with you until I do have time to update...

Never stick your finger in frosting, if it is not yours. Always ask the baker.


- A.

Oven-baked Chicken Breasts with Tomato-Basil Butter

One boneless skinless chicken breast per person
2 teaspoons garlic-pepper blend
1/2 cup butter or margarine, softened
1 tablespoon copped fresh or 1 teaspoon dried basil leaves
3 tablespoons tomato paste

1. Put Pam on the bottom of a baking dish
2. Sprinkle chicken with garlic-pepper blend
3. Put chicken in pan, cut a slice of butter and put one on each chicken breast
4. Put in oven on Med-Medium high for about 40 minutes
5. Meanwhile, in a small bowl, mix remaining ingredients. Serve chicken topped with butter mixture

On the side:
- Boil water, boil broccoli until tender.


Enjoy!

- A.

Rigatoni with Tomatoes and Fresh Herbs

1 pound rigatoni pasta
1/3 cup olive oil
2 garlic cloves, thinly sliced
1 (28 oz.) can chopped tomatoes, drained
1/4 cup chopped parsley
1/4 cup chopped basil
1 teaspoon chopped oregano
salt and pepper, to taste
Freshly grated Parmesan cheese

Side dish:
Asparagus
Mozzarella cheese

Cook pasta according to package.

Meanwhile, heat olive oil in large skillet.

Add garlic and cook over medium heat for 2 mins.

Add tomatoes and herbs and cook on medium for 6 min.

Add salt and pepper, along with a 1/2 cup of the pasta water

Drain pasta and add to skillet

Stir well and cook for 3 minutes

Serve with Parmesan cheese

Meanwhile...
Cook asparagus until crunchy...

Sprinkle mozzarella over and put in microwave for several seconds.



Enjoy!