five years prior to that started to burst which led right to nine hundred twenty nine in the great crash roosevelt didn't go to the banks and say hey you know help people out i mean the banks are failing all around and he just said we're going to create a federal agency we will buy your mortgage from the bank or we will simply take over your mortgage most of them at that time or a five year balloon mortgages that was the norm at the time but you know not that different from our exploding arms now and and and offer people thirty year fixed rate mortgages at a reasonable price that were guaranteed by the government when they resolve this organization of a good name a bit in the one nine hundred sixty s. there was actually a profit for the federal government and people got to keep their homes is there any chance at all that president obama could do something like this without having to go through the republican house of representatives which of course will absolutely not go along with anything like this. it would have to be done through you know ties to the money that's coming through the fed to the

. >> the great depression, stock market crash unemployment hit 25%, franklin roosevelt came in and ordered the government to start spending. >> it's time we make a clean cut to bring about united action. >> his new deal put people back to work and to the got the economy going begin, built the bay bridge, caldecott tunnel, alameda courthouse, aquatic park. >> it built infrastructure, dams and highways, repaired roads and sewer systems. >> a professor is a principle investigator for the living new deal project at u.c. berkeley, while the government spending was going on, conservatives during the depression raged at roosevelt was wasting money. this political cartoon from chicago tribune shows them shoveling money oust a wagon while joseph stalin writes his plan for the u.s., spend, spend. >> they believed in a balanced budget. >> but in fact, the new deal saved the economy and the proof is what happened in 1937. in an effort to balance the budget, roosevelt cut spending, increased taxes and the fed tightened the money supply. >> the result was that the economy went into a secondary recession

the great depression, stock market crashed, unemployment hit 25%, franklin roosevelt came in, orderingovernment to keep spending its time we made a clean cut effort. and this is to bring about united actions. >> this deal got flattened economy going again. and the bay bridge, civic auditorium. aquatic park, alameda county court house. >> this builds infrastructure like dams and highways and repaired roads and sewer systems. >> this professor is a principal investigator for living new deal project at uc berkeley. he notes while the government spending was going on, conservatives raged they were wasting money. >> there is a plan of action for the u.s., spend, spend. >> they thought this is just throwing money away. >> walker said the new deal saved the economy. the proof is what happened in 1937. roosevelt cut spending, increased taxes and the fed tightened money supply. >> result is that economy fwheent a secondary recession. >> walker says congress and president today making the same mistake. >> nobody learn aid thing. >> it's not so clear says abc 7's political analyst. roosevelt cut