What was the role of the US government in the banking industry at beginning of the Depression? Federal agencies forced banks to close if they could not insure all of their accounts. The government passed laws to provide insurance on individual accounts. Individual banks were inspected and supervised by agents of the government. The government had little involvement with monitoring the health of banks.

What was the role of the US government in the banking industry at beginning of the Depression?

A) Federal agencies forced banks to close if they could not insure all of their accounts.

B) The government passed laws to provide insurance on individual accounts.

C) Individual banks were inspected and supervised by agents of the government.

D) The government had little involvement with monitoring the health of banks.

Question

Anabella French

History

20 December, 21:29

What was the role of the US government in the banking industry at beginning of the Depression? Federal agencies forced banks to close if they could not insure all of their accounts. The government passed laws to provide insurance on individual accounts. Individual banks were inspected and supervised by agents of the government. The government had little involvement with monitoring the health of banks.

What was the role of the US government in the banking industry at beginning of the Depression?

A) Federal agencies forced banks to close if they could not insure all of their accounts.

B) The government passed laws to provide insurance on individual accounts.

C) Individual banks were inspected and supervised by agents of the government.

D) The government had little involvement with monitoring the health of banks.

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Answers (1)

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Emmett Haynes · Answer 1

Unfortunately, during the Great Depression the government has little to no involvement with the monitoring the health of banks. After the Great Depression, the United States government passed laws for the banking industry so that another depression would not happen.