Question

How did Franklin Roosevelt attempt to restore trust in the banking system? A. He pushed billions of dollars of government money into buying the banks. B. He declared a bank holiday and then kept most banks closed. C. He let the free market sort out strong and weak banks. D. He declared a bank holiday and developed a ranking system for banks.

Answer 1

the answer is D.he declared a bank holiday and developed a ranking system for banks

Answer 2

D. He declared a bank holiday and developed a ranking system for banks.

Franklin Roosevelt declared a three-day nationwide bank holiday, combined with the Federal Reserve's commitment to supply unlimited amounts of currency to reopened banks. This effectively created 100 percent deposit insurance.