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View Diary: The Great Depression Pt. III (172 comments)

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  •  FDR's Emergency Banking Act was the turn (0+ / 0-)

    Roosevelt was sworn in on March 4, 1933.  Within the week he had declared a 4 day banking holiday, and then the banks reopened under the Emergency Banking Act.  That marked the turning point of the Depression as noted so nicely by the NBER.

    Cheers.

    "When the going gets tough, the tough get 'too big to fail'."

    by New Deal democrat on Mon Jan 05, 2009 at 11:36:50 AM PST

    [ Parent ]

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