Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq.—without a constitutional amendment—signs the Banking Act of 1935, making the Federal Deposit Insurance Corporation permanent. Federal deposit insurance encourages commercial banks to make riskier loans than they otherwise would as the losses are reimbursed by the FDIC, in the event of bank insolvency.
NOTE: As an attorney (Officer of the Court) Roosevelt was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
[restored 7/12/2022]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Calvin D. Linton, ed., The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 337.
Current U.s. National Debt:
