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The stock market crash of 1929 helped launch the United States and many other nations into the worst economic depression in history. The severity of the Great Depression called for federal government programs to protect the general welfare of citizens. The New Deal programs created by Franklin D. Roosevelt provided th ....
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.... to meet in a special session. The outcome was the Emergency Banking Relief Act, which permitted stable banks to reopen and provided managers to those who remained in trouble. The Glass-Steagall Act separated commercial and investment banking and created the Federal Deposit Insurance Corporation. These actions all helped restore banking confidence within American people. Roosevelt ensured that it was safer to "keep your money in a reopened bank than under the mattress"(Tindall and Shi 1238). After accomplishing this task, the new administration was ready to ....
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