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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: jlallen who wrote (158694)4/22/2009 2:59:33 PM
From: Kevin Rose1 Recommendation  Read Replies (1) of 173976
 
Pre FDR, the severity of these busts were much more wide ranging, deeper, and caused much more misery for the average American. Can you imagine what might have happened late last year if there were no FDIC? We could have had a real old-fashioned panic, complete with real bank runs, riots, soup lines, 30% unemployment, etc.

None of us remember the days when people could not trust banks, and would squirrel their money under their mattress. When you try to imagine the scenario of waking up to a world where all your savings are gone - like some Markoff investors - say a big Thank You to FDR.

Just one of the many policies of FDR that have saved this country, and made us stronger.
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