Question

upon assuming office, how did roosevelt respond to the collapsing bank system? group of answer choices waited for the glass-steagall banking act to take effect in june and then enforced new regulation declared a bank holiday and then pushed through the emergency banking act closed all banks until the economy recovered from the great depression invested major public funds on the day after his inauguration to stabilize the banking systems

Answer 1

Roosevelt responded to the collapsing bank system by declaring a bank holiday and pushing through the Emergency Banking Act. The act allowed the government to evaluate bank strength, provide loans, and reorganize and reopen banks.

Step-by-step explanation:

Upon assuming office, Roosevelt responded to the collapsing bank system by declaring a bank holiday and then pushing through the Emergency Banking Act. The act allowed the government to evaluate the financial strength of each bank, provide loans to prevent banks from failing, and reorganize and reopen banks if necessary. This action helped restore confidence in the banking system.