what was the FDIC new deal plan in the great depression?

Question

what was the FDIC new deal plan in the great depression? like in details- what was it, who created it, how is it used today, thanks!

Answer 1

The Federal Deposit Insurance Corporation was created in 1933 by Franklin D. Roosevelt, though I am not sure exactly who in his group of advisors (known as the Brain Trust) came up with it. The impetus for this was the numerous bank failures that began in 1929 after the Stock Market Crash, and continued into 1933. FDR first instituted a "bank holiday", closing all banks until they were inspected by the government, and if they were deemed in good financial shape allowed to reopen, if of questionable status given help by the government to stay open, and if irretreviably unsound financially, forced to close. The FDIC was then started, meaning that banks who were part of it were insured by the federal government. If the bank somehow ran out of money, had loans go bad, or even were held up or burnt down, the government would guarantee that peoples' accounts would be honored, up to a certain dollar figure ($100,000 I think). It is still in use today, and indeed is one of the most successful programs the government has ever put forward. It has stabilized our banking system.

Answer 2

For the best answers, search on this site https://shorturl.im/6wr6M

Under then Democratic President Franklin D. Roosevelt, America began to rebuild under what FDR called "The New Deal" which was initiated between 1933 and 1938. Under his plan, Roosevelt gave relief to the poor, reforming the financial system and recovery of the economy. The "First New Deal" of 1933 aimed at short-term recovery programs for all groups. The Roosevelt administration promoted or implemented: banking reform laws, emergency relief programs, work relief programs, and agricultural programs. A "Second New Deal" (1935–36) included: union protection programs, the Social Security Act, and programs to aid tenant farmers and migrant workers. The Supreme Court ruled several programs unconstitutional; however, some parts of these were soon replaced, with the exception of the National Recovery Administration). Several New Deal programs remain active with some still operating under the original names, including the: Federal Deposit Insurance Corporation (FDIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System and Securities and Exchange Commission (SEC). The New Deal represented a significant shift in political and domestic policy in the U.S., with its more lasting changes being increased federal government control over the economy and money supply, intervention to control prices and agricultural production. The New Deal represented a significant shift in political and domestic policy in the U.S., with its more lasting changes being increased federal government control over the economy and money supply, intervention to control prices and agricultural production. This was the beginning of complex social programs and wider acceptance of trade unions. The effects of the New Deal still remain a source of controversy and debate amongst economists and historians. The initial crash of the U.S. stock market occurred on Thursday October 24, 1929; then, on "Black Tuesday" October 29, the stock market fell even more than it had the week before. These events were the catalyst of a worldwide economic depression. From 1929–1933, unemployment in the U.S. increased from 4% to 25%, manufacturing output reduced by approximately a third. Prices fell causing a deflation of currency values, which made the repayments of debts much harder. The mining, lumber, and agriculture industries were hit especially hard by the drop in values. The impact was much less severe in white collar and service sectors. So I would guess we can assume the Dems did a better job particularly at helping the less fortunate.

Answer 3

Fdic New Deal

Answer 4

Overcome your Depression Without Medication

Answer 5

Stop Depression - Overcome your Depression Without Medication - http://stopdepresion.info/effective-way-1738.html

Method to overcome depression and anxiety without pills and expensive therapies.

You will cure your depression just by following him directions. It is a simple, fast and effective method.

+) Find food for treating depression.
+) Stop taking pills.
+) Never relapse again.
+) Apply an effective method to discover and eliminate the root problem.

Method provide the "key" to your new life, for you will be able to:

+) Have more confidence in yourself.
+) Sleep better and feel more relaxed, with no stress.
+) Be comfortable with yourself and with other people.
+) Stop anxiety attacks.

Get it Now! - http://stopdepresion.info/effective-way-1738.html

Enjoy every day as you did before and Start feeling fulfilled and enjoying the things you do

Answer 6

Everything you need to know.