Question: Go to www.fdic.gov and click on the tab "Industry Analysis" and then on the link "Research & Analysis." Select "The First Fifty Years: A History of the FDIC 1933-1983." Open Chapter 3, "Establishment of the FDIC," and scroll down to the section entitled "The Banking Crisis of 1933" and the section entitled "Federal Deposit Insurance Legislation." Read the section and then answer these questions.
a. President Roosevelt was sworn in on March 4, 1933. What was one of his first official acts in response to the banking crisis?
b. How many banks suspended operations during 1933?
c. Who was the chief proponent of federal deposit insurance in Congress?
d. How much coverage did the temporary fund for federal deposit insurance provide?