jan 22, 1932 - Signs Reconstruction Finance Corporation Act, (47 Stat 5) establishing a government corporation that provided emergency financing for financial institutions. This was a direct response to the banking instability and runs on gold. The RFC had authority to lend to banks, other financial institutions, and railroads. This was modeled on the World War I “War Finance Corporation.”
Added to timeline:
Date:
jan 22, 1932
Now
~ 93 years ago