Who did congress institute the RFC to loan money to?
Check this article.
http://en.wikipedia.org/wiki/Reconstruction_Finance_Corporation
The Reconstruction Finance Corporation (RFC) was established by the United States Congress in 1932, during the administration of President Herbert Hoover. Its primary purpose was to provide financial assistance and loans to various sectors of the economy that were facing difficulties during the Great Depression.
To determine who the RFC was intended to loan money to, we can look at the historical context and legislative intent. During the Great Depression, many banks, businesses, and other institutions were struggling financially, leading to widespread unemployment and economic instability. Congress recognized the need for a government-backed entity that could provide emergency funds to stabilize the economy.
The RFC was specifically created to lend money to banks, railroads, mortgage associations, and other financial institutions that were in danger of collapsing or facing insolvency. By providing loans to these institutions, the hope was to prevent further bank failures, enable businesses to continue operating, and promote economic recovery.
In summary, Congress instituted the RFC to loan money primarily to banks, railroads, mortgage associations, and other financial institutions in order to stabilize the economy during the Great Depression.