America/Europe
- as businesses began to fail, the government created the Smoot-Hawley Tariff 1930 to help protect american companies.
- Smoot-Hawley Tariff raised US tariffs to historically high levels
Failed Because:
- Bank deposits were uninsured
- People lost their money
FDIC/CCC
- The CCC eventually provided jobs for 2.5 million young americans in forest and conservation program. Civilian Conservation.
- Federal agency established during the “First Hundred Days” of the New Deal in 1933 in an effort to halt panic over bank closing. The FDIC insures the bank deposits of individual citizens
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