Work in progress — cycles are added one at a time. Every quote is machine-verified against an archived source; follow the links to read it.
Issues › Banking & Finance
Regulation of banks and securities
| Cycle | Candidate | Position | Solution | Strength | Attribution | Verdict |
|---|---|---|---|---|---|---|
| 1932 | Franklin D. Roosevelt (Democratic) | Separate investment banking from commercial banks; tighter national-bank supervision; faster payouts to depositors of closed banks | Sever affiliated securities companies from, and divorce the investment-banking business from, commercial banks; restrict use of Federal Reserve facilities for speculation; more rigid supervision of national banks to keep… | specific_pledge | candidate_direct | kept |
| 1932 | Herbert Hoover (Republican) | Reform the banking laws; stop credit flowing to speculation; relieve depositors of closed banks | Enact the banking reform (Glass bill) Congress postponed: a stronger banking system that will not 'permit the credit of the country to be made available without adequate check for wholesale speculation in securities'; au… | specific_pledge | candidate_direct | not_applicable |
| 1932 | Herbert Hoover (Republican) | The RFC and the 'shield of Government credit' saved 5,000 institutions and must continue — but no direct government lending to everyone | Continue the Reconstruction Finance Corporation ($2 billion) and the expanded Federal Reserve powers to uphold banks, insurance companies, building-and-loan associations, farm-mortgage associations and railroads; oppose … | specific_pledge | candidate_direct | not_applicable |
| 1932 | John Nance Garner (Democratic) | RFC loans to individuals and corporations generally — 'the Government into personal banking' (the Rainey bill) | Extend RFC lending beyond banks and railroads to any borrower with security, for any purpose; passed under Garner's leadership in July 1932 and vetoed by Hoover. | specific_pledge | opponent_characterization | not_applicable |