What’s a president hoover say about the stock market crash?

President Hoover's deeply held philosophy of American individualism, which he maintained despite extraordinary economic circumstances, made him particularly unsuited to deal with the crisis of the Great Depression. He greatly resisted government intervention, considering it a path to the downfall of American greatness.

Explanation:

His initial response of asking Americans to find their own paths to recovery and seeking voluntary business measures to stimulate the economy could not stem the tide of the Depression. Ultimately, Hoover did create some federal relief programs, such as the Reconstruction Finance Corporation (RFC), which sought to boost public confidence in financial institutions by ensuring that they were on solid footing. When this measure did little to help impoverished individuals, he signed the Emergency Relief Act, which allowed the RFC to invest in local public works projects. But even this was too little, too late. The severe limits on the types of projects funded and type of workers used meant that most Americans saw no benefit.

The American public ultimately responded with anger and protest to Hoover’s apparent inability to create solutions. Protests ranged from factory strikes to farm riots, culminating in the notorious Bonus Army protest in the spring of 1932. Veterans from World War I lobbied to receive their bonuses immediately, rather than waiting until 1945. The government denied them, and in the ensuing chaos, Hoover called in the military to disrupt the protest. The violence of this act was the final blow for Hoover, whose popularity was already at an all-time low.

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~courtney