Reconstruction Finance Corporation Is Created
At a glance:
- Series: Great Events from History: North American Series
- Categories: Government and Politics, Economics
- Subcategories: Business, Depressions, Recessions
- Curriculum: American History 1901-1950
- Geographical Location: Washington, D.C.
- Date: January 22, 1932
Article abstract: The Hoover Administration makes an effort to intervene economically following the onset of the Great Depression.
Summary of Event
After the stock market crash of 1929, the economic conditions in the United States continued to deteriorate, as they were doing all over the world in what would come to be known as the Great Depression. Banks were especially vulnerable, because they had made excessive loans to stockbrokers, dealers in real estate, and the construction industry during the orgy of speculation in the 1920’s. An additional...
[The entire page is 1168 words long]
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