🖋️AP US HISTORY; Great Depression Project🖋️
✉️️FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)✉️️
Founded: June 16, 1933
First New Deal
Purpose: Protect bank depositors and to provide stability to both economy and failing bank system
Was it successful? Yes
Issues? 1980-1990: 1,110 banks failed, mainly due to bad loans, which weakened real estate market and found the FDIC in considerable economic stress.
FDIC owned 12% of the Dallas Cowboys team during 1988-1989 seasons