Duer

Read "Wealth and Democracy" by Kevin Phillips, in particular the section on the RevolutionaryWar time, as it explains profiteering, piracy, value of slavery, New York's role in the colonies as armory, the "assumption and funding" that fleeced the yeomanry and enriched the banksters, and the fate of wealthy profiteers such as Duer who died in debt prison.

Obama Will Spend over $3 Trillion on ECONWAR! Fire and Penalize the Bank Oligarchs 2008

Hon« Roger Sherman, Esq ', de M' Duer's imputation on members of our Assembly; Sapply Connecticut troops with arms; Field pieces referred to Gen* Washington; Gov Tryon dead; our army in the Jerseys, superior to Howe's.

Collections of the Massachusetts Historical Society 1792

Duer was sent to debtor's prison where he was almost lynched by other New Yorkers whose money he had lost.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

They have not learned from Hamilton's behavior toward Duer 220 years ago that belief in free enterprise does not require us to believe that financial markets don't need to be supervised.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

Duer, like the "masters of the universe" the Tea Party is hiding behind the deficit smokescreen, did not listen.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

Duer was sent to debtor's prison where he was almost lynched by other New Yorkers whose money he had lost.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

As for William Duer, he died in the debtor's prison 7 years later.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

Sadly in the Tea Party distortion of American history real causes of unemployment --- the sins of financial wheeler-dealers like Duer left unsupervised --- are covered up by rhetoric about government spending, and the government whose vital role Hamilton understood gets smeared.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

Duer lost everything when the speculation collapsed: He was not protected by corporate law that today limits liability, allowing modern speculators to stash gains away where the people they fleece can not get them.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011

Hamilton had a friend, William Duer, who was speculating in government bonds in the early 1790s, and borrowing heavily to do so.

Paul A. London: Unemployment and the Deficit: The Disconnect Paul A. London 2011