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08-01-2022 |
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| Extra informatie over mantiainhl |
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Male |
| Bio: |
In mid-February 1933, banking difficulties developed in Detroit, Michigan. The RFC was ready to make a loan to the struggling bank, the Union Guardian Trust, to prevent a crisis. The bank was one of Henry Ford's banks, and Ford had deposits of $7 million in this specific bank. Michigan Senator James Couzens required that Henry Ford subordinate his deposits in the troubled bank as a condition of the loan. If Ford concurred, he would risk losing all of his deposits prior to any other depositor lost a penny. Ford and Couzens had once been partners in the vehicle organization, but had ended up being bitter competitors.
When the negotiations stopped working, the guv of Michigan declared a statewide bank holiday. In spite of the RFC's desire to assist the Union Guardian Trust, the crisis might not be prevented. The crisis in Michigan led to a spread of panic, initially to adjacent states, but eventually throughout the country. Every day of Roosevelt's inauguration, March 4, all states had declared bank vacations or had actually restricted the withdrawal of bank deposits for cash. As one of his very first acts as president, on March 5 President Roosevelt announced to the country that he was stating an across the country bank holiday. Practically all banks in the nation were closed for business during the following week. https://3dexport.com/joyceyqsvq |
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