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Glass Steagall Banking Act/ FDIC
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Glass Steagall Banking Act Passed in 1933 during first 100 days Emergency response to failing banks Tighter regulation power to Federal Reserve System Prohibited bank sales of securities Created FDIC
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Role of Government/Effectiveness More power to FRS Increase in government spending Increase in government involvement More individual bank regulation Restored confidence
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Federal Deposit Insurance Corporation (FDIC) Targeted banks that failed Federal reserve had power to regulate interest on savings and time deposits Prevented interest-earning checking accounts prevented commercial banks from risky investments
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Role of Government Board of 5 directors appointed by president Increased regulation of big business Increased involvement in daily life Increased government spending
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Effectiveness Affected people and the banking system Regained confidence and stabilized banks Deemed constitutional
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Bibliography Allen, Larry. "Glass-Steagall Banking Act (1933)." ABC-CLIO. American Government. 2012. Web. 27 Nov. 2012. http://americangovernment.abcclio.com/Search/Display/1541043?ter ms=Glass+Steagall+Banking+Act. http://americangovernment.abcclio.com/Search/Display/1541043?ter ms=Glass+Steagall+Banking+Act Federal Deposit Insurance Corporation." Encyclopædia Britannica. Encyclopædia Britannica Online School Edition. Encyclopædia Britannica, Inc., 2012. Web. 27 Nov. 2012. http://school.eb.com/eb/article-9033896. http://school.eb.com/eb/article-9033896 “Glass Steagall Act (1933).” The New York Times Company. The New York Times. Web. 27 November 2012. http://topics.nytimes.com/topics/reference/timestopics/subjects/g/gla ss_steagall_act_1933/index.html. http://topics.nytimes.com/topics/reference/timestopics/subjects/g/gla ss_steagall_act_1933/index.html "Roosevelt, Franklin D.." Encyclopædia Britannica. Encyclopædia Britannica Online School Edition. Encyclopædia Britannica, Inc., 2012. Web. 27 November 2012. http://school.eb.com/eb/article-23944.http://school.eb.com/eb/article-23944 Roosevelt, Franklin D. “Transcript of Speech by President Franklin D. Roosevelt Regarding the Banking Crisis.” Federal Deposit Insurance Corporation. fdic.gov. 12 March 1933. Web. 27 November 2012. http://fdic.gov/about/history/3-12-33transcript.html. http://fdic.gov/about/history/3-12-33transcript.html
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