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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
  • Bank
  • 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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