1. 22.3 Hoover Struggles with the Depression Hoover’s belief in the “rugged individual” leads his team to react slowly to crisis Saw it as a temporary and necessary downswing Opposed direct relief, felt intervention by federal government would destroy free enterprise Resentment towards Hoover and Republicans grows daily 1930 mid-term elections, Democrats take control of House

5. Attempts at Helping Programs started by Hoover: – Public Works Projects (Hoover Dam) – Federal Farm Board-control prices – Glass Steagall Banking Act (FDIC)-protects banks – Federal Home Loan Bank Act-keep people in homes – Reconstruction Finance Corporation (trickle-down economics)

6. Hoover and Bonus Army Group of WWI vets led by Waters march to DC to get $1,000 bonus Hoover allowed them to create Hooverville while issue was debated Senate and Hoover deny money and say go home About 2,000-5,000 stayed Police shot 2 vets Army tear gassed families, 2 babies die Hoover’s reluctance to act and gassing of Bonus Army costs him any chance of re- election