Economic Crisis; How the Current Financial Rescue Schemes are Following the Failed Model of the Hoover Administration
Herbert Hoover Copycats


by Ismael Hossein-Zadeh
Global Research, February 21, 2009
Counterpunch.org


Faced with the financial meltdown of the Great Depression, the Hoover administration created the Reconstruction Finance Corporation that poured taxpayers’ money into the coffers of the influential Wall Street banks in an effort to save them from bankruptcy. Like today’s Bush/Obama administrations, the Hoover administration used the “too-big-to-failâ€