Yet Another 10 Fascinating Facts That Are Wrong
The error: Franklin Roosevelt’s “New Deal” was not built upon the ideas on John Maynard Keynes. I put this one first since it is probably the most open to dispute. Marriner Eccles was a prominent banker who saved his family bank from ruin when the Depression hit. It was he who told the Senate in 1933 that the key to stopping the Depression was spending. Roosevelt later rewarded Eccles with the chairmanship of the Federal Reserve and he wrote the Banking Act of 1935, a post he held for fourteen years....