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Question:


marlon0607
Student
High School - 11th Grade

Compare the Great Depression and the FDR`s "New Deal" to today`s economic crisis and the Bailout Plan.

I`m begging you. Please help me! I need your help on this question very badly.

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Posted by marlon0607 on Thursday May 14, 2009 at 3:03 PM and tagged with bailout, economy, fdr, law, new deal, recession, the great depression.

Answers:


  1. alohaspirit Teacher
    Middle School

    eNotes Editor

    The Great Depression was obviously more severe then the recession we are going through right now.  The Great Depression happened because of the complete crash of the stock market, where our recession has been a slow gradual process of home foreclosures, bad loans, and closing of banks.  The New Deal was a series of social programs that FDR created in order to help rebuild our country and give a safeguard to the American people such as the creation of Social Security.  The Bailout is not similar to the New Deal program.  The Bailout was a a "quick fix" to help the banks buy their bad loans and not go completely bankrupt.  The Bailout was a not a permanent solution, and will end up costing our country more money in the end.  The New Deal programs were meant to be permanent established programs that became apart of our federal government, and it expanded our federal government.  It changed our our government views their role in people's lives, then bailout was a hand out to banks, again a "quick fix."  FDR's solutions to the Great Depression were more holistic then the solutions we see today.

    Sources:
    http://lcweb4.loc.gov/learn/features/timeline/depwwii/new...
    http://www.nytimes.com/2008/09/21/business/21qanda.html

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    Posted by alohaspirit on Wednesday June 10, 2009 at 3:05 PM