jan 6, 1932 - Reconstruction Finance Corporation est. (Jan 1932)

Description:

Had initial capital of $500 mill, provide indirect relief by assisting insurance companies, banks, agricultural organizations, RR, state/local gov'ts who needed help; No loans to individuals → retain individualism & character of US;

for everyone's benefit, est too late for max usefulness; Projects that it supported = self-liquidating, gov't profited millions of $$; Giant corporations benefit from assistance; Est. by HH but v similar to New Deal;

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