| Informações do fórum de coenwircem |
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07-28-2022 |
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(Invisível) |
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| Bio: |
In mid-February 1933, banking difficulties established in Detroit, Michigan. The RFC was ready to make a loan to the distressed bank, the Union Guardian Trust, to avoid a crisis. The bank was among Henry Ford's banks, and Ford had deposits of $7 million in this specific bank. Michigan Senator James Couzens demanded that Henry Ford subordinate his deposits in the distressed bank as a condition of the loan. If Ford agreed, he would run the risk of losing all of his deposits prior to any other depositor lost a penny. Ford and Couzens had actually once been partners in the automotive organization, but had ended up being bitter rivals.
When the settlements failed, the governor of Michigan stated a statewide bank holiday. In spite of the RFC's desire to assist the Union Guardian Trust, the crisis could not be prevented. The crisis in Michigan resulted in a spread of panic, first to adjacent states, but eventually throughout the nation. By the day of Roosevelt's inauguration, March 4, all states had stated bank holidays or had actually limited the withdrawal of bank deposits for money. As one of his first acts as president, on March 5 President Roosevelt revealed to the nation that he was stating a nationwide bank holiday. Practically all banks in the country were closed for service throughout the following week. https://vpresnjakov.ru/user/eudonadwmt |
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Male |
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