Popular
"swipe left below to view more authors"Swipe →
From Eric Rauchway’s highly digestible “The Great Depression and the New Deal, A Very Short Introduction.”
Popular
"swipe left below to view more authors"Swipe →
As to whether the government should take any action, [Hoover] allowed it might cut the tax on capital gains, which would permit investors to keep more of their profits from trading.
Popular
"swipe left below to view more authors"Swipe →
Hmmm.
Popular
"swipe left below to view more authors"Swipe →
And from a passage on his actions in 1932, when Hoover actually pushed through the Reconstruction Finance Corporation and the Federal Land Bank, which were well capitalized and started using their capital to lend to banks and free up capital:
Popular
"swipe left below to view more authors"Swipe →
All these measures probably helped loosen restrictions on credit and got bankers and businessmen to lend and borrow more freely again…But they did nothing immediate for non-banker Americans.
Popular
"swipe left below to view more authors"Swipe →
Sound familiar?
Popular
"swipe left below to view more authors"Swipe →
Popular
"swipe left below to view more authors"Swipe →
