The author included the information about 1920 and 1925 because that was the time the U.S economy expanded rapidly, The Roaring Twenties. Until 1925 there wasn’t legal requirement to separate the operations of commercial and investment banks, the investment banking was consisted of <em>JP Morgan & Co, Kuhn, Loeb & Co, Brown Brothers and Kindder, Peabody & Co</em>. Their funds could be used to fund the underwriting business of the investment baking side.
In 1929 everyone was putting their savings into stocks, not only the wealth part but the poor part too and because of that the stock market reached the peak in August 1929. But than the production declined causing unemployment and with that the stock prices were much higher than their actual value. The economy was struggling, the debt was rising and the banks had and excess of large loans that couldn’t be liquidated.
In the 1930s over 9,000 banks failed because people didn’t trusted them to put their saving. The Great Depression the official unemployment rate was 25% and the stock marked declined 75% since 1929. But in 1933 now with Rooselvet’s administration he took immediate action about the economic woes first announcing that all banks would close, Bank Holiday. The Congress would pass reform legislation and reopen the banks. In “<em>first 100 days</em>” Roosevelt’s administration stabilized the industrial and agricultural production and created jobs and also created the Federal Deposit Insurance Corporation (FDIC) to protect depositors’ accounts and the Securities and Exchange Commission (SEC) to regulate the stock market and prevent what happened in 1929.
The big change between the crises in the 20s and 30s were all about who was in charge, President Hebert Hoover didn’t take much lead about the crises but Roosevelt did.
Answer:
B. to provide healthcare to low income citizens
Explanation:
Medicaid is health coverage that comes from the government, basically it is a form of welfare. Medi<em>care </em>is health coverage for senior citizens.
Pearl Harbor was attacked in December 1941, the Manhattan Project was created in 1941, the program was created to secretly built an atomic bomb, it was originally projected against Nazi Germany, but in May 1945 Germany surrendered and the US still had the bomb and still was at war with Japan that did not surrender.
They were four years into the war, the US Army invaded Okinawa and Iwo Jima, yet the Japan military resisted.
In July 1945 the Manhattan project successfully detonated the atomic bomb in a test site in the desert of New Mexico.
There was another element into question: The Soviet Union entered the war against Japan and the atomic bomb would send a strong message to the Soviets. This way, Truman decided to drop the bomb on the city of Hiroshima on August 6th of 1945, three days later another bomb was dropped over Nagasaki.
On August 15th Japan surrendered ending the WWII, and Truman faced heavy criticism. Some argued that Japan was on its knees and the bombs were unnecessary, others pointed to the Soviets as a motive.
The bomb ended WWII but started the long Cold War with the Soviet Union, it lasted 50 years and ended with the fall of the Berlin Wall.
Axis I guess also couldn’t you just google it
