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In the United Stаtes, the Greаt Depressiоn begаn sооn after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. The Great Depression transformed American social and political institutions and the ways people thought about their relationship to the country and the world. People all over the country not only lost their money but also lost their jobs. Businesses closed because they could not afford to pay their employees. People lost their homes when the banks forclosed. When Franklin Delano Roosevelt was elected president at the end of 1932, he promised Americans a New Deal to bring economic relief from the devastation of the Great Depression The government created many agencies to revive industry and agriculture as well as create jobs to get Americans back on their feet. Important reforms to the banking and investment industry were made. The Federal Deposit Insurance Corporation (FDIC) was established to insure bank deposits, and the Securities and Exchange Commission was formed to protect against stock market fraud. Even with these agencies, it took a long time for the American economy to emerge from the Great Depression. The depression continued for another ten years and didn’t end until the military build-up of the early 1940’s, as the United States got ready to enter World War II. QUESTIONS: 1. What were FDR’s solutions to the Great Depression? 2. How effective were these solutions? 3. Did the solutions change the federal government? Your answer must be in your own words- do not use direct quotes. Your answer must be a minimum of 75 words.