jan 22, 1932 - Reconstruction Finance Corporation

Description:

The Reconstruction Finance Corporation (RFC) was established in 1932 by the U.S. government under President Herbert Hoover as a response to the worsening Great Depression. The RFC was designed to provide financial support to banks, insurance companies, and other financial institutions, with the goal of stimulating economic activity by stabilizing these key sectors, although its impact was limited until expanded under Franklin D. Roosevelt's administration.

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