Reconstruction Finance Corporation

What did all of those institutions have in common

All were reeling from Great Depression effects beginning in late 1929

What does the RFC represent

An attempt by Hoover to deal with the Great Depression

What was it

An effort by Congress and President Hoover to prop up banks, railroads, life insurance companies, and other financial institutions

When did it begin

Early 1932 under President Hoover

What did Hoover hope

Emergency loans from RFC would help stabilize key industries=trickling down to small businesses and bringing about an economic recovery

What did the Democrats in Congress think

It would only help rich business owners, no one on the bottom of the ladder suffering the most

Where was/is the RFC

Under FDR During the economic collapse in 2008, Bush and Obama basically did the same thing as RFC.