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New Deal Act Franklin D. Roosevelt

New Deal Act Franklin D. Roosevelt. By Julie Schneider. Emergency Banking Relief Act. March 9, 1933. Definition. Banks reopen when financially ready Federal support FDR met with the head of suffering banks Passed by congress Gave insurance to money people had in banks. Others.

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New Deal Act Franklin D. Roosevelt

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  1. New Deal ActFranklin D. Roosevelt By Julie Schneider

  2. Emergency Banking Relief Act March 9, 1933

  3. Definition • Banks reopen when financially ready • Federal support • FDR met with the head of suffering banks • Passed by congress • Gave insurance to money people had in banks

  4. Others • First problem FDR faced • Many banks failing • FDR met with the head of suffering banks • Called a bank holiday ^ • One of Roosevelt’s first steps in the act

  5. Examples • 3 days – 5,000 banks reopen • 65% of banks reopened • http://en.wikisource.org/wiki/Emergency_Banking_Relief_Act

  6. Success! • Yes • Banks reopened • http://www.articlesbase.com/finance-articles/emergency-banking-relief-act-temporary-savior-599919.html • http://www.sparknotes.com/testprep/books/sat2/history/chapter17section2.rhtml • http://www.apfn.net/messageboard/01-18-04/discussion.cgi.60.html

  7. Is it still around? • No • It was a temporary solution • Only during 1933

  8. Federal Securities Act Passed May 27,1933 Drafted by: Benjamin V. Cohen, Thomas Corcoran, James M. Landis Signed into law by: FDR

  9. Definition • Made people feel safer about putting their money into stock market

  10. What it took place of • Regulations of security governed by state laws • “Blue sky laws” • Still in effect after FSA passed

  11. What did it do? • Could sell bad stock, but had to have all facts right • 2 goals: • “to ensure more transparency in financial statements so investors can make informed decisions about investments” • “to establish laws against misrepresentation and fraudulent activities in the securities markets”

  12. Success again! • It was successful • Prevented people from selling bad stocks and saying they were good • Stopped inflation of stock prices • Stopped people from pooling (overpriced)

  13. Is it still around today? • Yes • Changed: no false advertising • Still no bad stocks being sold by lying

  14. Sources • http://www.articlesbase.com/finance-articles/emergency-banking-relief-act-temporary-savior-599919.html • http://en.wikipedia.org/wiki/Emergency_Banking_Act • http://en.wikipedia.org/wiki/Securities_Act_of_1933 • http://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission

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