Breaking the Banks in Motor City: The Auto Industry, the 1933 Detroit Banking Crisis and the Start of the New Deal
Publisher:   McFarland | ISBN: 0786444177 | edition 2009 | PDF | 202 pages |9.87 mb  



This history tells the relatively unknown story of how the Detroitautomobile industry played a major role in the 1933 banking crisis andthe subsequent New Deal reforms that drastically changed the financialindustry. Spurred by failed decision making by automobile industryleaders, Detroit banks experienced a critical emergency, precipitatingthe federal closure of banks on March 4, 1933, the first in a series ofactions by which the federal government acquired power over economicspreviously held by states and private industrial andfinancial interests.