No banking reforms mean ready for another financial crisis within the following 2-3 decades. Friedman also criticized Hoover for not bailing out banks.It would be a little shorter, his policies were similar to FDR's but not as far reaching. Neither "deficit-spended" enough to really "fix" the economy. The Depression might have ended a little sooner without the instability of FDR's gold confiscation and competing agencies running amok.
People do not remember that far back. No one blames Clinton for the banking "reforms" that led to 2008. So, it would satisfy the OP.No banking reforms mean ready for another financial crisis within the following 2-3 decades. Friedman also criticized Hoover for not bailing out banks.
Roosevelt bailed out the banks. He introduced FDIC and Glass-Steagal Act. Well, it would not be fun at all without deposit insurance being introduced in 1933. Under Hoover, banks might continue to go bust and people continue to see their savings being wiped out. He already demonstrated that he was not willing to enforce bank holidays to suspend deposit outflows. And without the suspension of Gold Standard, then no expansionary monetary policy and good luck having recovery.People do not remember that far back. No one blames Clinton for the banking "reforms" that led to 2008. So, it would satisfy the OP.
I have read that the bank failures have already bottomed out in 32, so FDR's measures might have not actually fixed anything, but just fallen into place as things righted themselves.Roosevelt bailed out the banks. He introduced FDIC and Glass-Steagal Act. Well, it would not be fun at all without deposit insurance being introduced in 1933. Under Hoover, banks might continue to go bust and people continue to see their savings being wiped out. He already demonstrated that he was not willing to enforce bank holidays to suspend deposit outflows. And without the suspension of Gold Standard, then no expansionary monetary policy and good luck having recovery.
Hoover doesn't sign the tariff and the Depression might start to get better. If this happens 1932 is close.