President Franklin Roosevelt Fireside Chat Regarding the Banking Crisis: Saving the Banking System

 

Big Government Progressive

President Franklin Roosevelt Fireside Chat Regarding the Banking Crisis (Audio) – 3/12/33.

One of the good things from the FDR New Deal from the 1930s. Was FDIC or Federal Deposit Insurance Corporation, which basically insures the American Banking System. For a fee for whatever money that Americans deposit into banks. FDIC will insure it for a fee which is how FDIC is funded which is Self Financed. If we had FDIC pre the “Great Recession”, maybe the “Great Recession”. Wouldn’t of been as bad and maybe not as many people would of been broke as a result. We’ll never know that of course but just a thought.

And I believe the next step would be which is something that should’ve been in Dodd-Frank the Wall Street Reform bill of 2010. Would be to set up an Insurance System for Big Banks. Meaning that all banks that reach a certain size, would be forced to purchase Bankruptcy Insurance. So TARP would never be necessary again and Tax Payers would never have to bail out Big Banks again. And forcing Big Banks once they reach a certain percentage and size of the overall economy. Be forced to break up and sell off parts of their assets. For Market Value.

In case its not obvious enough, I’m not a huge fan of FDR as President. Most of the credit I give has to do with Foreign Policy, which is how we got of the “Great Recession”. And President Rossevelt deserves a lot of credit for that. Especially by knocking out a Racist Regime in Germany that would’ve murdered millions of more jews. Had they not of been stopped. But President Rossevelt also deserves a lot of credit for creating FDIC as well.

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About Derik Schneider

Blogger on everything that interests me and that I'm knowledgeable about.
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