Randa Abdelfattah and Ramteen Arablui
👤 SpeakerAppearances Over Time
Podcast Appearances
In the working out of a great national program,
This new deal would offer direct relief to the poor, infrastructure programs to put people back to work, and a whole new way of doing business where the government, not the private sector, would lead the way.
The inefficiency was the point.
He wanted to provide jobs.
He wanted to provide government paychecks to prevent an uprising.
It's a way of using the power of the state to support the private economy in a more effective and regulated fashion.
In a sense, I would say the New Deal is trying to save capitalism from the capitalists and for the capitalists.
Who represents the capitalists?
Morgan Jr., we can see him as a kind of symbol of this older money opposition to Franklin Roosevelt, the Democratic Party, the New Deal, and the kind of tension that reflected the broader class divides that existed during the Great Depression.
Which brings us back to J.P.
sitting in the Senate Banking Committee hearing.
I do not think that question is very necessary, Senator.
The critics of this are saying, you know, this is just blatant politics.
You're just searching for scapegoats.
And then it was discovered in the hearing.
Morgan and his partners hadn't paid any taxes for a couple of years in the early 1930s.