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The FDIC made it possible for the American Public to have trust that they wouldn't lose there money if it was deposited in the bank and there was a recession or a Stock Market crash. The money in the bank accounts they have are insured by the United States Federal Government for up to $100,000.00 per account. That made it possible for the banks to make loans from the money that depositors had in the bank, instead of keeping money on hand and allowed America to grow and create new business'.
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What did the fdic do?
The FDIC was created during the financial chaos of the Great Depression. The stock market crash in October of 1929, and the subsequent crash in March of 1933, prompted the U.S. Government to create a federally-backed corporation that would provide stability and reassurance to the public. And on January 1, 1934, the FDIC was created. http://www.savewealth.com/banking/fdic/ Hopes it helps! ^^
What effect did D Day have back home in America?
D Day had the effect of removing many men from their jobs, which were then taken by women. It also increased military oriented productivity in America.
What effect did colonial unity have on the America of thinking?
go f**** your self
What Is the Purpose of the FDIC?
FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy.
What are some negative effects on America after World War 2?
One negative effect on America from ww2 was that the economy resulted in being in a horrible state because of all of the spending done. Another negative effect was the amount of Americans who lost there lives as a result of this horrible war.
