[Bubba Ho-Tep]

Hmm. On the other hand, the economy Coolidge created crashed hard just seven months after he left office, and Hoover hadn't done much of anything to change policy course.

Just sayin'

[NVDave]

Wrong, wrong, wrong, oh-so-terribly wrong.

Hoover put more fingers into more economic orifices than anyone other than FDR. Hoover was a notorious meddler in the economy. Here’s Silent Cal’s own appraisal of Hoover:

“That man has offered me unsolicited advice every day for six years, all of it bad.”

Coolidge also called Hoover “Wonder Boy.”

Most people don’t know it, and Republicans are loathe to admit it, but Hoover was the brainiac behind quite a lot of agricultural subsidies in attempts to prop up grain prices going into late ‘29 and early ‘30. Coolidge, on the other hand, vetoed the McNary-Haugen bills *twice*... and Hoover started down the road of propping up ag commodity prices before FDR arrived.

[GraceG]

Hmm. On the other hand, the economy Coolidge created crashed hard just seven months after he left office, and Hoover hadn’t done much of anything to change policy course.

Just sayin’

There had been similar and even worse crashes before in the 1800’s and they recovered quite swiftly as the market corrected itself, Hoover a Progressive made matters worse and this led the way for FDR.

[pepsionice]

The Wall Street collapse has a number of curious things which aren’t readily discussed.

First, a large number of bank presidents from across the nation (small and medium-sized banks included)...simply went into the vault...removed funds...and invested their holdings onto stocks. No law existed at the time to stop them, and almost no one in the public or in the media grasped this.

Second, when the collapse started....it is very evident that a number of people had geared the market for a peak, and then walked away from the mess. To this date....no one has ever been able to piece together the group or their timing. Outside influences? Doubtful. But someone walked away with tons of money, and watched the collapse from a safe distance.

Third, over the next 100 days after the Wall Street....the government really didn’t have a clear understanding of how far and wide this extended, and appeared to be in disbelief that banks would be that stupid to invest other people’s money. When the government did finally realize the problem....they could not invent a fix for this.

Fourth and final....when FDR appears....he simply stirs the pot....never going for a clear fix or solution. He was more of the problem than wanting to clearly bring the depression to an end.