Cuong Le
SCOM1000-153
4/10/2018
Impromptu #3
Hello everyone, a person I want to introduce to you guys today is one of a most popular American’s president in history. I choose him as my commencement speaker because he is the only U.S. President to serve for more than two terms. It must be stated, for the struggles America was going through, and the perseverance they held to triumph over their trials, was in part due to his boundless leadership as president. He was a prodigious president.
He was born on January 30, 1882, served as the 32nd President of the United States from 1933 until his death in 1945. He directed the United States federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. The New Deal helped millions of people and improved the economy that much so that it grew for 58% in eight years.
When he was elected for President, the U.S. economy was in a very bad position, being hit by the Great Depression. He ordered the banks to close for few days until the Congress could pass reform legislation. This is when the Emergency Banking Act was created and thanks to which the Federal Reserve Banks issued additional currency on good assets. Following the Emergency Banking Act, he signed into law the Glass – Steagall Act. This banking act helped the establishment of the Federal Deposit Insurance Corporation, which provided deposit insurance and protected the bank depositors from losses in case the bank couldn’t pay its debts. The Gl...
