Glass Steagall Banking Act/ FDIC

Glass Steagall Banking Act Passed in 1933 during first 100 days Emergency response to failing banks Tighter regulation power to Federal

Reserve System Prohibited bank sales of securities Created FDIC

Role of Government/Effectiveness

More power to FRS Increase in government spending Increase in government involvement More individual bank regulation Restored confidence

Federal Deposit Insurance Corporation (FDIC)

Targeted banks that failed Federal reserve had power to regulate

interest on savings and time deposits Prevented interest-earning checking

accounts prevented commercial banks from risky

investments

Role of Government Board of 5 directors appointed by

president Increased regulation of big business Increased involvement in daily life Increased government spending

Effectiveness Affected people and the banking system Regained confidence and stabilized

banks Deemed constitutional

Bibliography Allen, Larry. "Glass-Steagall Banking Act (1933)." ABC-CLIO. American

Government. 2012. Web. 27 Nov. 2012. http://americangovernment.abcclio.com/Search/Display/1541043?terms=Glass+Steagall+Banking+Act.

Federal Deposit Insurance Corporation." Encyclopædia Britannica. Encyclopædia Britannica Online School Edition. Encyclopædia Britannica, Inc., 2012. Web. 27 Nov. 2012. http://school.eb.com/eb/article-9033896.

“Glass Steagall Act (1933).” The New York Times Company. The New York Times. Web. 27 November 2012. http://topics.nytimes.com/topics/reference/timestopics/subjects/g/glass_steagall_act_1933/index.html.

"Roosevelt, Franklin D.." Encyclopædia Britannica. Encyclopædia Britannica Online School Edition. Encyclopædia Britannica, Inc., 2012. Web. 27November 2012. http://school.eb.com/eb/article-23944.

Roosevelt, Franklin D. “Transcript of Speech by President Franklin D. Roosevelt Regarding the Banking Crisis.” Federal Deposit Insurance Corporation.

fdic.gov. 12 March 1933. Web. 27 November 2012. http://fdic.gov/about/history/3-12-33transcript.html.