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“Pecora Investigation"
The “Pecora Investigation,” led by U.S. Senator Peter Norbeck and also, eventually, attorney Ferdinand Pecora, exposes greed in some of America’s largest banks, laying the groundwork for New Deal reforms of financial institutions.- First New Deal -
Banking Act of 1933
It separates commercial and investment banking, and also creates the FDIC to reduce the number of bank failures-First New Deal -
Roosevelt Speech
President Roosevelt tells the American people: “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself – nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”-First New Deal -
Bank Holiday
The holiday closes the nation’s banks for several days in an effort to stop the number of bank runs and bank failures.-First New Deal -
Farm Credit Act
making credit more accessible to farmers, and with fairer terms than private sector lending-First New Deal -
Soil Conservation Act
The new agency helps preserve America’s agricultural land from erosion and overuse. The SCS remains active for the next fifty years and still today.-2nd New Deal -
National Youth Administration
The program is designed to provide work, education, and job training for unemployed young men and women. It employs 4.7 million young Americans.-2nd New Deal -
Banking Act of 1935
The Banking Act of 1935 is signed into law by President Roosevelt. The act reorganizes the Federal Reserve Bank system to reduce the power of the New York branch.-2nd New Deal -
Unemployment Rate
The unemployment rate is down to 9.9% and there are 69 bank failures – compared to 14,807 bank failures from 1921 through 1933. -2nd New Deal. -
1936 Election
Roosevelt wins his second term as president, beating Republican challenger Alf Landon. Roosevelt wins 523 Electoral College votes (98.5%) to Landon’s 8, and 60.8% of the popular vote to Landon’s 36.5%.- 2nd New Deal