Final answer:
The public perception of Hoover's Reconstruction Finance Corporation was largely negative, as it was seen as providing insufficient relief and favoring larger institutions over the needs of the general populace during the Great Depression.
Step-by-step explanation:
Public View of Hoover's Reconstruction Finance Corporation
The public generally viewed President Herbert Hoover's actions and the Reconstruction Finance Corporation (RFC) with skepticism and dissatisfaction. Although the RFC was intended to provide emergency loans to banks, insurance companies, and other firms to prevent their failure and to help maintain employment, the limited success and reach of these loans led to public disapproval. A substantial amount of the RFC's funds went to larger banks, leaving smaller institutions and individuals still struggling. Moreover, the element of delayed response and lack of direct relief measures rendered these efforts insufficient in the eyes of the desperate public. The Democrats accused Hoover of being more concerned with the well-being of bankers than with the millions of ordinary Americans suffering during the Great Depression. Consequently, these critiques contributed significantly to the loss of public confidence in Hoover's presidency, further evidenced by the electoral success of the Democrats and the election of Franklin D. Roosevelt.
Hoover's commitment to American individualism and his reluctance to provide direct federal aid seemed out of touch with the acute distress of the American people during the Great Depression. In response to the growing crisis, Hoover finally initiated the RFC and supported the Emergency Relief Act, but even this federal intervention was seen as too limited in scope and too late to effectively address the economic devastation.