Question

A lender proposes a $250,000 term guaranteed operating loan for a former FSA borrower who had the balance of a direct loan settled by a compromise offer on May 8th, 1994. The reason for the settlement was beyond the borrower's control. This is authorized

a) True
b) False

Answer 1

The Panic of 1819 actually decreased the American people's faith in the Second Bank of the United States, making the statement false.

Step-by-step explanation:

The statement that the Panic of 1819 increased the American people's faith in the Second Bank of the United States is false. In fact, the Panic of 1819 did the opposite, shaking the public's confidence in the institution. The economic crisis was the first widespread financial crisis in the United States, which had lasting effects on the economy and led to distrust in the Second Bank due to its management and practices, which many blamed for the panic and subsequent depression.