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FDR in 1933: "There Must Be a Strict Supervision of All Banking and Credits and Investments. There Must Be an End to Speculation with Other People's Money."

FDR in 1933: "There Must Be a Strict Supervision of All Banking and Credits and Investments. There Must Be an End to Speculation with Other People's Money."

We now move three-quarters of a century back in time to 1933. It was the middle of an era that our current moment is sometimes compared to: the Great Depression. When Franklin Delano Roosevelt took his oath of office in March of that year, over 10,000 banks had collapsed, following the stock market crash of 1929. One-quarter of American workers were unemployed, and people were fighting over scraps of food. We play an excerpt of FDR’s inaugural speech on March 4, 1933, and speak to Adam Cohen, author of the forthcoming book, Nothing to Fear: FDR’s Inner Circle and the Hundred Days that Created Modern America. [includes rush transcript]

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