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What was the name of the president who brought the United States into the Great...
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High School Teacher
True, Herbert Hoover was President when the Stock Market Crash and the Great Depression hit the United States, but I don't think we can say he, alone, was the cause. The laissez-faire economic policies and stock speculation had been happening long before Hoover took office, he just happened to be unfortunate enough to be sitting in the chair when it all went down. Remember, he had only been President for nine months when the stock market crashed.
However, some historians, myself included, fault him for not doing enough to combat the Depression in the early years when it might have made a difference. He cut government spending so we wouldn't run a deficit, which actually made the Depression worse because it eliminated jobs. When he tried to correct himself with the Reconstruction Finance Corporation, it was too little too late.
Posted by brettd on December 17, 2011 at 2:56 AM (Answer #1)
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