THE NEW DEAL

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BANKING
Ordered a national bank holiday 6th-9th of March // Emergency Banking Act: investigate banks and reopen the approved // RFC money prevented bank collapse // Restored public confidence in the banking sys
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SHARE TRADING (had been frenzied and unregulated)
Federal Securities Act, May 1933: aimed to reg buying&sharing of shares (registered) // Securities and Exchange Commission, 1934: reg share transactions&stock exchanges - worked
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US DOLLAR - was unstable in international markets
Gold Reserve Act, 1934: deval US dollar against price of gold = exports cheaper // Silver Purchase Act: raise price by inc silver in US coinage = didn't revive trade // only focused on US, refused help (LDN Eco Conf) - may of harmed US eco!
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INVESTMENT BANKING
needed to be separated from commercial banking = Glass-Steagall Banking Act did this: high street banks can't invest in what fuel speculation // couldn't take out personal loans from their own banks //Buying &selling gov securities centralised
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Other cards in this set

Card 2

Front

SHARE TRADING (had been frenzied and unregulated)

Back

Federal Securities Act, May 1933: aimed to reg buying&sharing of shares (registered) // Securities and Exchange Commission, 1934: reg share transactions&stock exchanges - worked

Card 3

Front

US DOLLAR - was unstable in international markets

Back

Preview of the front of card 3

Card 4

Front

INVESTMENT BANKING

Back

Preview of the front of card 4

Card 5

Front

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Back

Preview of the front of card 5

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