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during the depression there was a shortage of food and money
after the election the new president made a "New Deal" in an attempt to fix the problems.
There were runs on banks for money that they didn't have. The President made an organization called the FDIC
we want our money!
Bank deposits were gathered into one place and distributed to eligible banks
This made sure that no eligible bank would go bankrupt.
1933 the Federal Deposit Insurance Corporation was sighed into being and in 1935, became permanent.
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