Today, people often think of the “con” part of con-man as coming from the word convict. That’s unfortunate because, it actually comes from the word “confidence,” as in confidence game. The con-man would gain his victim’s confidence by acting as though he were on his side and looking out for him. The con-man preyed on the victim’s trust and getting more access would then rip him off for whatever he could get.
“We must act now to restore confidence in the integrity of our financial system.”
The Jurist – Unv. of Pittsburgh School of Law – June 17, 2009
George W Bush
“We must restore confidence in the financial system”
Speaking from the Rose Garden – September 19, 2008
Fed Chairman Ben Bernanke
“As long as we have the confidence of the markets that we will be able to exit from this situation with a sustainable fiscal program, then I think we’ll be O.K.,”
House Budget Committee – New York Times DealBook – June 9, 2010
Then U.S. Treasury Secretary Henry M Paulson
“A root cause of this situation is the housing correction and a lack of confidence in mortgage assets, as well as a lack of confidence in many of the financial institutions that hold these assets. Because of this widespread uncertainty, investors are hesitant to commit capital to financial institutions. Investor confidence is critical to restore liquidity and enhance the stability of our financial system.”
U.S Treasury Press Release – October 8, 2008
Current U.S. Treasury Secretary Timothy Geithner
I believe our nations economy would be in a lot better shape if it were based on sound money rather than fractional reserve banking, and the lies of our so called leaders who cause people to live and invest in ways they otherwise wouldn’t if they knew the truth, just so they can keep up their confidence game.