The Banking Crisis

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  • Created by: Kat
  • Created on: 02-03-14 15:30
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  • The Banking Crisis
    • Americans had little confidence in American banks
    • Many Americans withdrew savings
      • Caused banks to go out of business
    • If more Americans withdrew money, the banking system would collapse
    • Government declared Bank Holiday and closed banks
    • Backed 5000 banks and assured American people their money was safe
      • This restored confidence in banking system and approved banks were opened a few days later

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