2/2 No School
2/3 FDR was born to a very wealthy family. He married his 5 th cousin. He went to harvard. When he got polio, he continued as usual. Assistant sec. of the navy under Woodrow Wilson. Lost 1920 VP election. got polio and won new york president in 1928 and won president in 32 and continued for 12 years. EBRA was passed to respond to the thousands of banks closing. this closed down the bank for a few days to a couple weeks and will reorganize and reopen. "The Bank Holiday". more than 50% of what was took out was put back in. This stopped bank runs.
2/4 FDIC insured people's money in banks for up to 1,000 dollars. insured money in savings, checkings, money market account and CD's. Does not ensure stocks, bonds, mutual funds. Banking Act of 1935 made the FDIC a permanent agency. strengthened by power of Federal Reserve. Federal Securities Act. made to make stock market safer to invest money. required investors to receive significant information and prohibited deceit, misrepresentations, and other fraud. SEC established in 34 and is still around. Enforces FSA. some said that FDR went too far and spent too far and others say that he didn't do too much. they said he created a powerful president that led congress, which is a violation of checks and balances. got rid of laissez faire and created big gov. some where unconstitutional and he created a heavy debt burden. FDR was upset with supreme court for declaring acts unconstitutional. he tried to pack the supreme court for each person over 70. Father Charles Coughlin called for 200/month guaranteed income and for the gov. to take over banks. later blamed Jews for world wide depression. Francis Townsend argued that FDR didn't do enough for the elderly. His ideas led to social security. Sen. Huey Long wanted to tax the wealthy and redistribute so every man was a king. shot and killed by Carl Weiss in 35. REA set up electricity for farms. TVA built dams to stop floods and make electricity.
2/5 Today we reviewed for the test tomorrow. We need to know FDIC SEC SSA and Farm Subsidies-pays farmers in years of struggle.
2/6 test day i was gone
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