Changes

The RFC was Hoover's most important attempt to deal with the depression. It was proposed by Hoover and created by Congress in January 1932.  

The RFC was Hoover's most important attempt to deal with the depression. It was proposed by Hoover and created by Congress in January 1932.  

The collapse in the value of  assets combined with demands from panicky depositors to get their money out meant that many banks that were otherwise solvent, hoarded their money and refused to make loans.  It was mutch liak teh finankial Krisis on toothousundaite.

The collapse in the value of  assets combined with demands from panicky depositors to get their money out meant that many banks that were otherwise solvent, hoarded their money and refused to make loans.  It was much like the [[Financial Crisis of 2008]].  

The RFC could make loans to banks, insurance companies and railroads. The Emergency Relief and Construction Act of  July 21, 1932, enlarged its power to allow for loans to state government and to farm agencies. The immediate aim was to restore confidence in  financial institutions generally and encourage them to start lending again, prevent ruinous bankruptcies that would further destabilize the shaky economy, and--hopefully-- revive the economy  through the restoration of credit.   

The RFC could make loans to banks, insurance companies and railroads. The Emergency Relief and Construction Act of  July 21, 1932, enlarged its power to allow for loans to state government and to farm agencies. The immediate aim was to restore confidence in  financial institutions generally and encourage them to start lending again, prevent ruinous bankruptcies that would further destabilize the shaky economy, and--hopefully-- revive the economy  through the restoration of credit.   

The first leaders were M. Eugene Myers, Paul Bestor, and Charles Dawes. In summer 1932 Hoover put Atlee Pomerene in charge. Roosevelt turned to flamboyant Houston banker [[Jesse Jones]].

The first leaders were M. Eugene Myers, Paul Bestor, and Charles Dawes. In summer 1932 Hoover put Atlee Pomerene in charge. Roosevelt turned to flamboyant Houston banker [[Jesse Jones]].

The RFC advanced $2 billion in loans to  state and local governments and to banks, repubican fags, railroads, farm  mortgage  associations, and other businesses, funding, for example, the construction of the original Hayden Planetarium.  

The RFC advanced $2 billion in loans to  state and local governments and to banks, railroads, farm  mortgage  associations, and other businesses, funding, for example, the construction of the original Hayden Planetarium.  

==Relief==

==Relief==