Pesky banks.....again

#politics
#banks
#southseabubble

https://www.theguardian.com/business/live/2023/mar/13/silicon-valley-bank-uk-tech-sector-rescue-help-jeremy-hunt-rishi-sunak-business-live?CMP=Share_AndroidApp_Other

#IrishPhilosophy and the #SouthSeaBubble (3)

Molesworth was credited with involvement writing some of "Cato's Letters" but this was denied by Gordon.

https://www.dib.ie/biography/molesworth-robert-a5861

It's interesting that the event that ruined Toland and enraged Molesworth resulted in a work that combined "Machiavelli’s republicanism, John Locke’s liberalism, and Algernon Sidney’s anti-authoritarian populism".

They lost money but the republican project they'd both worked for was moved forward.

#IrishPhilosophy and the #SouthSeaBubble (2)

Molesworth (along with other Irish members at Westminster such as #ThomasBrodrick and #JohnTrenchard) took a lead in pursuing those responsible for the South Sea Bubble fraud.

Trenchard went further, writing "Cato's Letters" with #ThomasGordon, which called for "liberty, accountability, and checks upon the wealthy interests who manipulated government for their own ends." These were very influential in America.

https://www.mtsu.edu/first-amendment/article/857/cato-s-letters

#IrishPhilosophy and the #SouthSeaBubble

#JohnToland lost all his money. He'd been so broke he'd had to use his patron #RobertMolesworth's name as a guarantor to invest.
https://www.dib.ie/biography/toland-john-a8584

Perhaps this & his own losses (plus his Old Whig principles) led #RobertMolesworth to call for the "contrivers...of the villanous South-Sea scheme" to be treated as those who killed their fathers in Ancient Rome: "tied in like manner in sacks, and thrown into the Thames.”
https://www.econlib.org/book-chapters/chapter-ch-2-the-south-sea-bubble/

#JohnToland, pamphleteer, controversialist, bogeyman of the Irish establishment was born in #Inishowen, #Donegal 30 Nov 1670 #OTD.

Wrote #ChristianityNotMysterious, had to flee Dublin when the book was ordered to be burned and the author sought. Wrote political tracts, inveigled himself into the Hanoverian Court (Sophia was wary, Toland wrote #LettersToSerena for her daughter). Lost his money in #SouthSeaBubble, died in Putney.

Why no biopic? https://dib.ie/biography/toland-john-a8584

#IrishPhilosophyOTD

@griffinator I didn't, and I wasn't enough of the in crowd to really know what was happening tbh. I was sitting in the desk next to the CFO while he was asked to leave for saying negative things in meetings.

Every day I would walk from the #tube, through regent's st, thinking of #Hogarths etchings of the crowd in the #southseabubble.