Feb 2 - No School.
Feb 3 - Videos again....
FDR - He was high up in the US Navy. He ran for VP in 1920. After that, he got polio. He then made a comeback and ran for president 4 times (making it each time).
Banks - EBRA. Passed five days after taking office. It would close down the bank, reorganize it, and then reopen the bank when it was stable. People started putting their faith back in the banks. This generally ended the bank runs that was commonplace from 1929-1933.
Feb 4 - Videos/Notes...
FDIC - Created by the Glass-Steagall Act in 1933. Insured people's money in banks up to $1000 (today up to $100,000). Passed in response to the bank failures after the stock market crash. Insures money in savings and checking accounts, money market accounts, and CD's. Does not insure stocks, bonds, mutual funds, items in safety deposit boxes, loss due to theft or fraud and insurance accounts. Banking Act of 1935. Made the FDIC a permanent agency within the US government. Strengthened the power of the Federal Reserve making making safer overall. Federal Securities Act. Passed in 1933. Made the stock market a safer place for people to invest their money. Two goals: "required that investors receive significant information regarding securities being offered for public sale" and "prohibited deceit, misrepresentations, and other fraud in the sale of securities to the public." SEC. Established in 1934 and is still around today. This organization regulates the stock market, therefore making the market more secure and safer for people's money.
Opponents - Some say FDR went too far. Spent too much $$. Others say he didn't do enough. He needed to do more. The New Deal was challenged because it created a very powerful president that lead Congress. It was a violation of checks and balances. It was also a radical departure from Laissez Faire ideals. Created "big government". Some acts appeared interfering and unconstitutional. Heavy debt burden - the United States was engaged in a deficit spending. Charles Coughlin called for a guaranteed income and wanted government to take over the banks. Francis Townshend argued FDR wasn't doing enough to help the elderly. His ideas eventually led to Social Security. Huey long make the Share-Our-Wealth. Shot and killed by Carl Weiss in 1935.
REA - Government put up all the poles for electricity. 1933 - 10% of the country electrified.
Feb 5 - Review day.
Feb 6 - Test day.
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