Was there a similar bailout in Hoover's time that was retooled by FDR?

[K8-EEE]

I seem to remember a DUer mentioning it in passing -- with the hope that the Paulson mess can be redirected to a New Deal type thing.

[Captain Hilts]

1. Hoover did try to help by focusing on existing institutions such as industry and govt....whereas...

FDR focused on individuals and created new institutions in addition to pushing passage of the Wagner Act, which empowered unions more to make them a third pivot point in the dialogue.

[K8-EEE]

3. Wagner Act, thank you that's what I was trying to remember

I'll look that up, thanks!

[Warpy]

2. Hoover's bailout attempt was in 1931 and did little

and there was nothing left to retool by the time FDR got into office in 1933. Hoover, like the gang in power now, was hamstrung by GOP economic dogma and capable of doing only the wrong things, even though Hoover, unlike the present bunch, really did want to do the right thing. He just had no way of knowing what those right things were with his GOP blinders on.

The bailout had to happen, it had to be stolen, and it had to fail before the rich men who really run everything can possibly be convinced that nothing but doing the right thing, addressing the supply side of the economic equation, will work and get the country out of the disaster they created.