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Glass Steagall Banking Act/ FDIC. Glass Steagall Banking Act  Passed in 1933 during first 100 days  Emergency response to failing banks  Tighter regulation.

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Presentation on theme: "Glass Steagall Banking Act/ FDIC. Glass Steagall Banking Act  Passed in 1933 during first 100 days  Emergency response to failing banks  Tighter regulation."— Presentation transcript:

1 Glass Steagall Banking Act/ FDIC

2 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

3 Role of Government/Effectiveness  More power to FRS  Increase in government spending  Increase in government involvement  More individual bank regulation  Restored confidence

4 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

5 Role of Government  Board of 5 directors appointed by president  Increased regulation of big business  Increased involvement in daily life  Increased government spending

6 Effectiveness  Affected people and the banking system  Regained confidence and stabilized banks  Deemed constitutional

7 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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