The New Deal

Question 1

Glass-stegall act

Answer 1

1933) - This act separated commercial and investment banking in order to avoid speculation with depositors’ money. It established the Federal Deposit Insurance Corporation (FDIC).

Question 2

FDIC (fed dep insurance corp)

Answer 2

The FDIC is a federal agency that provides deposit insurance to depositors in U.S. commercial banks and savings institutions. It was created in 1933 to maintain stability and public confidence in the nation’s banking system.

Question 3

Work Progress administration

Answer 3

(1935) - The WPA was a federal works program under the New Deal that provided jobs and income to the unemployed during the Great Depression. It developed and promoted infrastructure projects as well as funded arts, drama, media, and literacy projects.

Question 4

AAA

Answer 4

1933 The AAA paid farmers subsidies to reduce crop area and production, which were financed by a tax on companies that bought farm products. The goals were to raise farmers’ incomes and encourage more sustainable yields.

Question 5

Federal housing admin

Answer 5

(1934) - The FHA provides mortgage insurance on loans made by approved lenders. This allows lenders to offer loans to buyers with lower down payments, expanding home ownership opportunities.

Question 6

Fed home loan bank act

Answer 6

(1932) - This act established the Federal Home Loan Bank System to support mortgage lending and related community investment. It provides funding and liquidity to member financial institutions to build infrastructure and finance housing.

Question 7

Federal labor relations act

Answer 7

(1978) - This law governs labor relations between the federal government and its employees. It guarantees federal employees the right to organize and bargain collectively.

Question 8

American Liberty League:

Answer 8

Formed by conservative Democrats and corporate leaders who opposed the New Deal policies
Argued that New Deal was a threat to free market capitalism and individual liberties

Question 9

Huey Long

Answer 9

Prominent Democratic senator and Louisiana governor
Felt that New Deal policies did not do enough to redistribute wealth from rich to poor…Share wealth

Question 10

Reconstruction Finance Corporation (RFC) (1932)

Answer 10

Provided over $1 billion in loans to banks, railroads, mortgages and local government projects