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President Franklin Roosevelt: The New Deal

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President Franklin Roosevelt attempted to rescue the United States from the Great Depression through government programs and new laws to ensure something so terrible would not happen again. Roosevelt created the Truth in Securities Act, making it illegal for banks to loan money to people to use in the Stock Market. The “run on the banks”, one of the major causes of the panic of the Great Depression, caused mostly by people being afraid of losing their life savings in a failing bank, and rightfully so. Banks loaned out money for the Stock Market, and after the crash of the Stock Market people could not pay back the loans, resulting in the bankruptcy of many banks and thousands of people losing all of their money. Roosevelt knew that to bring

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