The New Deal (1933-1941) of President Franklin Delano Roosevelt fundamentally altered the relationship between the citizens of the U.S. and their government. The Great Depression, which began in 1929, inflicted untold suffering on most of the people. Myriad reforms implemented by the New Deal included banking, the stock market, and aid to the jobless, aged, or impoverished.
One aspect of the far-reaching New Deal was bank reform. Bankrupt banks could not repay people who had deposited money. The Federal Deposit Insurance Corporation (FDIC) was established to insure deposits.
Because the Great Depression started after a stock market collapse, FDR backed the creation of the Securities and Exchange Commission...
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