Why can't the New Deal of FDR be used against the current financial crisis?Why is

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lorenz d

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the Government not using it? Or why are they not using the steps of the previous governments against recessions in 1953,57,60 and so on?
 
Biggest reason is demographic shift occurring plus thousands upon thousand of self-employed contracts and trade labor unions that got environment laws and building along with zoning codes passed to make their employment more likely. Big oil wants to suck up every dollar it can before it becomes another whale oil, trading companies that bought congress and big banks. Imagine the entrenched very corrupt power structure Obama has to deal with.
 
There is no one format for dealing with a recession.

FDR faced 25% unemployment and bank runs. He shut all banks for a week. He didn't have the FDIC. He started many of the institutions/agencies that we now depend on.

Other recessions weren't as critical as this.

There are aspects that are the same, but the markets, banks, and companies are more intertwined. Banks are more than banks, and brokerage houses and other companies, now do banking jobs. Market vehicles are more diverse.

What worked/didn't work before isn't neatly comparable to what is happening now, and so in many ways, must be handled differently.
 
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