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Roosevelt then streamlined RFC's bureaucracy, increasing its funding to recapitalize troubled banks and corporations. Despite understanding the problem, Hoover failed because he was part of a broken system he wouldn't change.
In contrast, Roosevelt confronted the crisis aggressively in first 100 days, enacting 15 landmark laws, including:
The Bank Act of 1933 (Glass-Steagall), separating commercial from investment banks and insurance companies, among other provisions.
Streamlined the RFC with more capitalization and other measures to restore public trust, including by funding agencies like the Home Owners Loan Corporation, Farm Credit Administration, Rural Electrification Administration, Public Works Administration, and others, as well as emergency relief loans to states, something Hoover never did, let alone establish New Deal policies.
The Securities and Exchange Act of 1933, requiring offers and sales of securities be registered, pursuant to the Constitution's interstate commerce clause. Along with the 1934 SEC Act, it was to enforce federal securities laws, the securities industry, the nation's financial and options exchanges, and other electronic securities markets, unknown in the 1930s along with derivatives and other forms of speculation.
It was also charged with uncovering wrongdoing, assuring investors weren't swindled, and keeping the nation's financial markets free from fraud. Nonetheless, its fulfillment fell short of its promise. Unlike today, however, it tried.
The Home Owners' Loan Corporation (HOLC) to refinance homes and prevent foreclosures.
The Civilian Conservation Corps (CCC) to create jobs building roads, bridges, dams, developing state parks, planting trees, and various forestry and recreational programs for the Forest Service, National Park Service, Fish and Wildlife Service, Bureau of Reclamation, Bureau of Land Management, and Soil Conservation Service.
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