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Article: Alphabet agencies.(government agencies during the Great Depression)
- Article from:
- Cobblestone
- Article date:
- March 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Carus Publishing Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New federal programs popped up during President Franklin D. Roosevelt's administration. Often referred to by their initials, the New Deal's "alphabet soup" agencies were charged with a bold task: restoring America's economic health.
Businesses were in big trouble, so the New Deal regulated them. The Federal Deposit Insurance Corporation (FDIC) was created to insure and protect bank deposits. The Securities and Exchange Commission (SEC) regulated how companies could issue and sell stocks and bonds.
The Agricultural Adjustment Act (AAA) gave farmers financial payments, called subsidies, in exchange for holding down production of crops; these limits helped ...