What was the role of the US government in the banking industry at beginning of the Depression? Federal agencies forced banks to close if they could not insure all of their accounts. The government passed laws to provide insurance on individual accounts. Individual banks were inspected and supervised by agents of the government. The government had little involvement with monitoring the health of banks.

Question

anonymous · Answer

What was the role of the US government in the banking industry at beginning of the Depression?

A) Federal agencies forced banks to close if they could not insure all of their accounts.

B)The government passed laws to provide insurance on individual accounts.

C)Individual banks were inspected and supervised by agents of the government.

D)The government had little involvement with monitoring the health of banks.

anonymous · Answer

@bakedinbrazil

anonymous · Answer

It was D, since they had the laissez faire attitude, which resulted in the Great Depression. The key here is that they said, the 'beginning' of the depression.

anonymous · Answer

thanks! @ManImStumped