Work together as a committee this is a bipartisan concern and will have Bipartisan Solutions i hope for the future of our country and for generations of americans to come we have to do that i urge my colleagues in this moment all of us to hear and to listen to our witnesses and work with each other as friends and fellow americans to understand the need in our communities and foster our discussions on a foundation of civility and Mutual Respect we started that and i hope we continue it with that i yield back thank you without objection no other Opening Statements will be included in the record. We have an unusually large panel today but given the broad range of issues that we will be discussing with we have invited a broad range of witnesses as is customary the minority was given the opportunity to invite witnesses well and they have selected mr brown gino pastor scott and miss Underwood Jacobs we welcome everyone and thank them for the for their participation now if the witnesses would
Me it is my belief that the only thing that we have to fear is fear itself. By the time Franklin Roosevelt gives his march 1933 inaugural speech, almost a quarter of the nation is unemployed. More than 5,000 banks have failed and drought is persisting in key agricultural areas of the country. People must have faith. Coming up in the next hour, stories from the Great Depression as we take you to places like toledo and then in 1931 five of the six largest banks all failed at the same time which made it the largest banking failure of the Great Depression. To successful infrastructure of the times still impacting us today. And to one ending in tragedy. Well talk you to st. Paul with gangsters and the corrupt police force strike a bargain. Well explore the impact of new deal programs like the Conservation Corp as we go just outside of amarillo, texas. We wouldnt have a park here if it wasnt for the Conservation Corp. And well hear from artists who tell tales. We begin our cities tour featur
Until the job only takes to beat. Special coverage all. Day than this is counting the cost on aljazeera your weekly look at the world of business and economics this week predatory lender and hidden debts china loans more money to the world than the richest 32. 00 nations what does the world china and what does beijing get when you dont pay our. Was this man really responsible for a one trillion dollar loss on wall street or was he a convenient scapegoat for taking on big investors. And the story of the world over Migrant Workers stranded in thailand without jobs and no money for rent or food. The worlds 20 largest economies agreed to give 76. 00 of the poorest a Debt Repayment holiday but china has yet to publicly offer any support at a time many nations need the extra financial headroom to tackle the coronavirus pandemic beijing has been rapidly rolling out its belt and road initiatives to build infrastructure and increase its influence in mostly developing nations. Has come a huge co
Plunges and a financial panic gripped the world. This land is your land this land is my land from california to the New York Island i have but one desire, and that is to see my country again on the road to prosperity. This land was made for you and me let me assert my firm belief that the only thing we have to fear is fear itself. By the time Franklin Roosevelt gives his march 1933 inaugural speech, almost a quarter of the nation is unemployed. More than 5,000 banks have failed and drought is persisting in key agricultural areas of the country. Coming up in the next hour, stories from the Great Depression as we take you around the country to places like toledo. And then in 1931, five of the six largest banks in toledo all failed at the same time, which made it the largest banking failure of the Great Depression. Two successful Infrastructure Projects of the time still impacting us today. And to one ending in tragedy. Well take you to saint paul where depression gangsters and the corrup
Your people must have faith. In the 1920s, toledo was the Fastest Growing manufacturing city in america. In some, ways it was the Silicon Valley of today. The auto industry, cutting edge technologies, they were all centered here at the time. As a result, the Manufacturing Base was going gangbusters. Toledo seemed to be one of the brightest economic spots on the whole american map during a decade that was a decade of prosperity. Then, in 1931, the entire house of cards collapsed. And five of the six largest banks in toledo all failed at the same time. That made it the largest banking failure of the Great Depression. The Banking Industry here was perhaps more corrupt than other places. That contributed to its catastrophic collapse. Toledo was the 27th largest city in america. Its economy was rather diversified for a city of its size. It was an up and coming, major producer of automobiles. It had one of the largest Automobile Companies producing cars here. But it was also a city that had