THE ROARING 20S 1920 1929
AMERICAN ORGANIZED CRIME OF THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It guarantees the money that you have in the bank is safe and will be covered by the government so people in the Great Depression would feel safe putting their money back in the banks.
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It is a program that allows people to borrow money from the government so people in the Great Depression could get money to pay rent and buy food.
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It helps Americans get jobs so the country could get out of the Great Depression.
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None of the above
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Detailed explanation-1: -About the FDIC The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
Detailed explanation-2: -The Federal Deposit Insurance Corporation has served as an integral part of the nation’s financial system for 50 years. Established by the Banking Act of 1933 at the depth of the most severe banking crisis in the nation’s history, its immediate contribution was the restoration of public confidence in banks.
Detailed explanation-3: -Deposit insurance from the Federal Deposit Insurance Corporation (FDIC) enables consumers to place their money with confidence at FDIC-insured banks and savings associations (insured banks) across the country. FDIC deposit insurance is backed by the full faith and credit of the United States Government.
Detailed explanation-4: -Roosevelt’s administration launched the agency in 1933 to protect bank depositors from losing money with failing banks. On a broader scale, the FDIC was designed to restore trust among the populace in the U.S. banking system after the Depression.