After the stock market crash in 1929, the economy plunged into the Great Depression. To prevent another stock market crash and stabilize the economy, President Franklin D. Roosevelt implemented a series of economic reforms known as the New Deal. These reforms included regulations on banking and finance, as well as social welfare programs aimed at providing relief for those affected by the Depression. Through legislation such as the Glass-Steagall Act, the Securities Act, and the Securities Exchange Act, the government established safeguards to prevent another financial crisis and restore public confidence in the economy. Additionally, the establishment of the Federal Deposit Insurance Corporation (FDIC) insured bank deposits to prevent bank runs and restore trust in the banking system. Overall, these reforms were aimed at stabilizing and rebuilding the economy in the aftermath of the stock market crash.
