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| Hoover in 1931 urged the major banks in the country to form a consortium known as the National Credit Corporation | |
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| The NCC was an example of Hoover's belief in volunteerism as a mechanism in aiding the economy now know as Reconstruction Finance Corporation | |
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| Hoover and the Congress approved the Federal Home Loan Bank Act, to spur new home construction, and reduce foreclosures | |
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| it was a idea and the plan seemed to work, as foreclosures dropped, but it was seen as too little, too late. | |
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| the last thing was the Emergency Relief and Construction Act, which authorized funds for public works programs and the creation of the Reconstruction Finance Corporation | |
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| yeah but the RFC had minimal impact at the time, but was adopted by President Franklin D. Roosevelt and greatly expanded as part of his New Deal | |
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