Monday-
NO SCHOOL
Tuesday-
Banks energy and stock market. Emergency Banking Relief. Passed five days after taking office. Passed in response to the thousands of banks that closed down. Passed four days after FDR announced the Bank holiday, which closed banks down temporarily. The EBRA would close down the bank, reorganize it and then reopen the bank when its stable. Provided insurance to money in banks. Many people put money back into the banks. Generally ended the bank runs that was commonplace from 1929-1933. FDIC. Created by the glass steagall act in 1933. Insured people money in banks up to 1000 dollars. Passed in response to the bank failures after the stock market crash. Insures money in savings and checking accounts. Money market accounts and CDS. 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 FDIC a permanent agency within the US. Strengthened the power of the federal reserve making banking safer overall. Federal securities act. Passed in 1933. Made the stock market a safer place for people to invest their money. Two goals: Require that investors receive significant information regarding securities being offered for public sale. Prohibited deceit misrepresentations and other fraud in the sale of securities to the public. SEC the enforcer of the previous rules. Tennessee Valley Authority. Created to generate electric power and control floods in a seven state region around the Tennessee river valley. FDR signed the Tennessee valley authority act creating the TVA on may 18 of 1933. The agency still exists and has grown to become Americas largest public power company. Some criticized the TVA for only helping a specific region not the whole country.
Wednesday-
WPA- builds roads, bridges, dams, and many other construction jobs to give people work
IRA- abolished Dawes Act and allowed Native Americans to govern themselves on a tribal basis, allowed Native Americans to manage and keep their own land, included provisions to help create jobs on reservations, led to many casinos
Indians are segregated heavily and don't have jobs like whites in the depression.
FDR's three R's- Relief for the needy, economic recovery, and financial reform.
FDR's opponents- some say he spent too much, some said he did too much
Reasons the New Deal was challenged- 1. created a powerful president 2. created too big government 3. unconstitutional 4. heavy debt
Thursday- reveiw for Friday's test
Friday- test
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