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Wall Street Robbers & Washington Friends

Unlike Bill Clinton’s legacy, President Franklin Delanor Rooseveldt, affectionately known as FDR, is especially remembered for his remarks following the signing into law of the financial regulations contained in the Glass Steagall Act of 1933. Also known as the Banking Act of 1933 (48 Stat. 162). Rooseveldt saw the Depression as a matter of confidence, people had stopped spending, investing and employing labor because they were afraid. As he stated in his inaugural address “the only thing we have to fear is fear itself.”