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As a response to the bank failures of the great depression, a system of federal deposit insurance was established to strengthen the banking system.
The great depression changed into the worst economic downturn within the history of the industrialized international, lasting from 1929 to 1939. It started after the stock marketplace crash of October 1929, which sent Wall avenue into a panic and worn out hundreds of thousands of buyers.
The great melancholy began with the inventory market crash of 1929 and was made worse by using the Nineteen Thirties dust Bowl. President Franklin D. Roosevelt responded to the monetary calamity with packages called the new Deal.
Mobilizing the economy for world warfare finally cured the melancholy. hundreds of thousands of women and men joined the defense force, or even large numbers went to work in well-paying defense jobs. international war two affected the sector and the united states profoundly; it keeps to steer us even nowadays.
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