Assignment #1
From 1929 to 1939 our country was in some of its darkest days. We call this period of time The Great Depression. Starting on October 29th 1929,also known as black Tuesday our stock market crashed sending everyone into great devastation. This affected many people around the world. At one point in time the unemployment rate in the U.S. reached 50%.
Franklin D. Roosevelt was the man who got us out of these tough times. He did this by implementing a series of plans called the New Deal, which he promised in his inauguration speech. This plan represented a huge shift in our government and domestic policies that we lived by. One aspect I like from his “First New Deal” which started in 1933 was his NRA program. It imposed restrictions on production in agriculture and other industries. This program negotiated many codes with many companies during this time period, one of the most important codes the negotiated was no company could lower prices or wages and made companies make agreements on maintaining jobs and production for the people.
Faster than anyone would have expected, the NRA actually made agreements from many or almost every major manufacturer in the nation. This organization made the cost of doing business go up by a margin of 40%. The NRA was found to be unconstitutional in 1935 by the Supreme Court of The United States.
I liked this organization because it kind of was a non-biased party coming in and making deals with major companies and it stabilized our economy to a certain extent. Even though it is government controlled and we are a free country I think that we should have an organization like this in our nation today because many companies make bad or shady decisions. For example mortgage companies selling off bad loans, which leads to foreclosure, which leads to money loss in the company. The federal government due to bad mortgages and bad loans now regulates Fannie Mae and Freddie Mac two of the biggest financial...