What steps did roosevelt take to restore confidence in banks and in stock exchange?

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2026-05-01 05:40

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To restore confidence in banks, President Franklin D. Roosevelt implemented the Emergency Banking Act in March 1933, which allowed only solvent banks to reopen and provided federal support for troubled institutions. He also established the Federal Deposit Insurance Corporation (FDIC) to protect depositors' funds. In the Stock Market, Roosevelt introduced the Securities Act of 1933, which aimed to regulate the stock exchange and protect investors by requiring transparency and honesty in financial statements. These measures helped stabilize the financial system and rebuild public trust.

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