Consider President Franklin D. Roosevelt's initial approach to the banking crisis and later efforts regarding the monetary supply, banks, securities, and the stock market.© BrainMass Inc. brainmass.com April 3, 2020, 7:30 pm ad1c9bdddf
Franklin Delano Roosevelt (F.D.R.) is viewed by many observers as one of America's greatest presidents, a political savior who pulled the United States out of the Great Depression. Others, however, consider FDR as a significant contributor to the rise of socialist policies that turned America into a "welfare state." These opinions are based on how one views the Democratic president's handling of the economic crisis of the 1930s known as the Great Depression.
By the time FDR was elected to the presidency in 1932, the stock market crash of 1929 had morphed into a recession and then a full blown depression. Roosevelt, the former governor of New York, effectively campaigned against Republican President Herbert Hoover who many Americans blamed for their economic hardships. During that campaign FDR pledged to give Americans a New Deal, and the name stuck as the tag for his coming attempts to fix the financial crisis by altering the social and ...
This short essay clearly highlights President Franklin Roosevelt's attempts at creating new economic policies as a part of his New Deal programs during the 1930s.