"In Washington, Republicans and Democrats both concluded that excessive reliance on bankers to stabilize the financial system in times of turbulence was too high a risk to their own influence over the country, and possibly damaging to America's status in the world. The axiom that the group that controlled the money controlled the country remained true. But with the nation struggling economically, such a condition had political implications and had to be navigated accordingly.
Taft knew this when he campaigned on a vow to continue Roosevelt's reform policies, including the trustbusting activities Roosevelt had set in motion. Though his own background was largely blue-bloodedand warm toward the financiers, he knre the population blamed the bankers for their problems and that the Democrats would capitalize on those suspicions if he didn't balance his support for business interests with empathy for the public.The tactic worked. In the presidential election of 1908 Taft won handily over populist Democrat William Jennings Bryan, even as the country was experiencing a post-Panic recession."