Keyword: George W. Bush and America's Mounting Economic Woes

Americans Who Don't Believe in Democracy Email Print

There are Americans so disenchanted with democracy that when the political party they voted for does not win, they fuss and fume, refusing to show much respect for the democratic process that made America great.

For example, it often happens when a president such as Franklin Delano Roosevelt appears on the political scene, making sweeping changes during the Great Depression.  The stock market had crashed with Wall Street excesses such as people buying on Wall Street excesses such as people buying on margins, with money they didn't have.

Banks were going bust.  FDR courageously took charge with a bank holiday, enacting new laws to make sure such an economic debacle would never happen again.  But in 1987 there was another economic debacle which Wall Street called a "correction."  

The savings and loan industry had lost billions along with stock market investors.  The government acted swiftly to bail out the U.S. financial system.  Corruption had generated these economic losses for many Americans.  

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