-
Was created in 1913 to avert future panic if the economy were to collapse. The 16th Amendment was passed, enforcing an income tax on the people.
-
Henry Ford invented the assembly line, making production faster, making cars like the model T affordable to the common man
-
Was the most devastating stock market crash in US history, the crash started the 12 year long great depression
-
Establishes FDIC (Federal Deposit Insurance Corporation), protects against bank failure. The Glass- Steagall act was passed to restrict banks from doing risky buisness
-
Nearly all of America employed due to increased production, Automobile production quickly switched over to aircraft [production
-
Treasury pressures the Fed to maintain a low interest rate on Government bonds but the Fed fears inflation
-
The job corps is created under the economic opportunity act, as part of Lyndon B Johnson's Great society
-
It created Medicare and Medicaid. These programs provide health insurance to poor families
-
Causes Petro supply shocks that greatly raise the price of fuel. A decline in agriculture, combined with rising oil prices causes employment and inflation reaches 10%
-
124 billion paid by bailout by US Government. Congress passes the Financial Institutions Reform, Recovery,, and Enforcement Act(FIRREA)
-
Federal Reserve Board chairman Alan Greenspan calms the panic with a public statement that the fed would serve as a source of liquidity to support the economic system
-
To remove Tariff Barriers between the US, Canada, and Mexico for Fifteen years.Congress Passes the Riegle-Neal Interstate Banking and Branching Efficiency Act, eliminating all barriers to establishing bank branches nationwide
-
Setting in motion the subprime mortgage crisis and recession. Congress begins to recognize the emergence of the "shadow banking system", and the failure of the regulatory system. Once again the banking system faces a crisis
-
providing tax cuts and federal funds to create new jobs, save existing jobs, and spur economic growth.America's debt rises to $11 trillion while the deficit rises to $1.4 trilion
-
aimed at preventing the risky behavior and regulatory failures that brought the economy to the brink of collapse and cost millions of Americans their jobs and savings. Congress passes the Health Care Reform Bill aimed at providing affordable quality healthcare for everyone
