Industrial Revolution - Transition from agriculture to manufacturing.
1900
Immigration
1900
Economic Expansion
1900
Isolationist Attitude
1900
Was the beginning of Big Government
1913
FED - Monetary Policy Established
1913
IRS - Agent of Fiscal Policy Established
1913
July 1914 to November 1918
WWI
Lusitania sunk by German Submarine and 128 Americans died. It was a British passenger ship.
May 1915
7 U.S. Merchant Ships targeted.
1917
U.S. Involvement in WWI
April 1917 to November 1918
Economic Growth, Full Employment, Disposable Income, and Personal Investment Increased when?
Roaring 20’s
Roaring 20’s were what dates?
1920-1929
Stock Market Crash
1929
What caused the stock market crash?
Brokers, Banks, and insurance companies using improper Margin Sales Techniques.
Years when there was nationwide bank runs and bank failures.
1930-1932
Hoover vs. Roosevelt
1932
Roosevelt inaugurated when?
1933
Roosevelt was in office from when to when?
March 1933 to his death in April 1945
Congress imposed the Glass-Steagall Act when?
1933
An act that put numerous restrictions on banks.
Glass-Steagall Act
An act that forced the break up of bank holding companies.
Glass-Steagall Act
J.P. Morgan sold its investment banking firm to Stanley Investment Bank who re-named it what?
Morgan-Stanley
What bank divested itself of its non-commercial bank activities?
City Bank, NY
Emergency Banking Act (The Bank Holiday)
1933
What act caused all Banks to be closed for 4.5 days.
Emergency Banking Act
What act established Regulations for Margin Sales?
Securities Act of 1933
What act required formal registration of stock sales through SEC?
Securities Act of 1933
FDIC was established when?
1933
Securities Exchange Act established?
1934
What act dealt with inside trading and strengthened the SEC?
Securities Exchange Act of 1934
Social Security Act established when?
1935
FDR Era
1933-1945
Roosevelt’s presidency was known as? (2 Things)
“Hand of Government Era” and “New Deal”
English Economist and Economic adviser to Roosevelt.
John Maynard Keynes
Roosevelts “make work” stimulus projects, list 4.
- Tennessee Valley Authority
- Civilian Conservation Corp.
- Works Progress Administration
- Infastructure Projects
Built over 385 hydroelectric dams and power stations and put tens of thousands of people to work.
TVA - Tennessee Valley Authority
Unemployed young men (18-26) were put to work in forestry, National Parks, State Parks, and Recreation areas.
CCC - Civilian Conservation Corp.
Put artistic people to work.
WPA - Works Progress Administration
Hoover Dam, Golden Gate Bridge, Seaports, Docks, Warehouses, Airports Built.
Infrastructure Projects
When does Franklin Roosevelt die?
April 1945
When does WWII end?
1945
Year in which U.S. is the richest, most powerful nation in the world?
1945
Year when women were working in the wartime work force?
1945
Year in which 12 Million troops come home resulting in unemployment.
1945
Employment Act established when?
1946
What year was the Council of Economic Advisers established?
1946
When was the Marshall Plan established?
1947
The greatest act of generosity and its objective was to re-build war destroyed Europe.
Marshall Plan
Who established the Marshall Plan?
George Marshall - Secretary of State General
When did the Korean War start?
1950
When did the interstate Highway System begin?
1955
Who established the Highway system?
President Eisenhowser
Who takes over for President Roosevelt when he dies?
Harry Truman
When were Merrill Lynch Money Market Funds created?
1974
Depository Institution Deregulation & Monetary Control Act from when to when?
1975-1985
President Carter Community Reinvestment Act established?
1977
President Clinton expansion of the Community Reinvestment Act - CRA
1995
Graham-Leach-Bliley Act
1999
Community Reinvestment Act - CRA
Encouraged secondary mortgage lenders to buy more mortgages.
What act repealed the Glass-Steagall Act?
Graham-Leach-Bliley Act
Removed financial holding company regulations and allowed banks to expand as financial holding companies in order to compete with foreign banks.
Graham-Leach-Bliley Act