Summary
Given the current economic conditions and the lack of available of capital to microsmall- and medium-sized businesses, coupled with their impaired balance sheets, federal intervention is imperative. This time around, we should call these banks "job creation banks." The sole function would be to create jobs from the bottom up instead of the top down and to mitigate and reduce the unemployment that is steadily increasing nationally.
Twelve institutions were capitalized by the federal government in the amount of $125 million dollars in 1916. Because of growing pains and the Great Depression in 1929, there was a second capitalization infusion effort in 1933 as a part of legislation called the Emergency Farm Credit Act.See the full content of this document
Extract
A Look Back for a Possible Solution
A pre-Depressionary, institution was formed called a land bank. These institutions began in 1916 when agricultural real es...
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