in 1928, herbert hoover said we were on the threshold of abolishing poverty. ur years later he complained his opponents were playing politics with human misery. was hoover the villain? well, i don't know that hoover was a villain. hoover was carrying on the existing point of view that had dominated the behavior of the government up until that time-- namely, that it wasn't the government's business. laissez faire was the way in which the economy should operate. the price system would make the necessary adjustments. if things were going well, people would make profits, and if they weren't, they wouldn't make profits and that would help in the adjusting process. this was the state of mind. this was what economists were saying, and the government had behaved that way for a long, long, long time. as the 1920s faded and with them, the memories of prosperity the 1930s brought an awareness that there was a serious split between traditional economic theories and present economic realities. john maynard keynes was building a theory that dealt with total purchasing power-

it swept dwight eisenhower to victory in 1952 the first republican president since herbert hoover. hoover, eisenhower inherited a prosperous economy and was forced to watch as that economy slid into a recession. hoover responded with a huge tax increase that deepened the depression. what would ike do? would he repudiate 20 years of modern economics? when eisenhower took office in 1953, he inherited a prosperity that was bubbling along since the postwar boom. factories worked at capacity to fill the demand then worked overtime to build the machinery needed to fight the korean war. ike promised to end the war and in july 1953 he did. there wasn't time for rejoicing. by august, the economy had stalled. war orders were halted. there was no explosion of consumer demand to help. where would ike turn for advice? arthur burns chaired the council of economic advisers. george humphrey was secretary of the treasury. they didn't always agree. he used to say when arthur burns came "here comes arthur with his kit of tools." he meant his tools for dealing with the recession. at various times he g

he was ready to shop around in a way that herbert hoover, by temperament, could not have done... and try one method or another. if the president had little time for keynes' mathematics, he showed interest in numbers that told how many americans were still without jobs. in the first four years, the roosevelt administration launched the nra, ccc, wpa-- a virtual alphabet soup of programs to relieve unemployment. newly employed workers spent more money, creating more jobs. by 1936, it appeared that the depression was ending. it was time for a balanced budget. central revenues are increasing. emergency expenditures are decreasing. a balanced budget is on the way. does that sound like bankruptcy to you? roosevelt won a landslide re-election, but the celebration was brief. he cut spending. in october 1937, the stock market took another dive. unemployment began to rise once again. suddenly it appeared that the past four years' progress would unravel. president roosevelt may have been an economic conservative, but he was a social liberal. he saw rising unemployment and responded by resum

. >> tourers have walked the halls since herbert hoover was president. ends.that streak >> cool children that live here in d.c. need to be exposed to the oceans. this is one way that people get that. >> of the 2500 animals on exhibit, 70% will be donated to the aquarium in baltimore. the other 800 will go to other aquariums. theou will be released into wilds. last year, more than 200,000 people visited the aquarium. many were d.c. children on field trips. >> parents enjoy watching fish. i had a hard time getting the children out. some employees have been transferred to the baltimore location. others will have to find new careers. >> i do not know how i am going to feel when i leave it. we will see the next thing. >> construction crews will really get to work to make a new pedestrian tunnel between the hoover building and the ronald reagan building. this area that has seen so much tourism since 1932 will still be traveled for people but just with a much different purpose. smart and not to two dollars tomorrow. you will still have to pay the $10. the car w

incumbent president herbert hoover was routed at the polls by franklin delano roosevelt.great nation will endure as it has endured. first of all let me assert my firm belief that the only thing we have to fear is fear itself. in his inaugural address roosevelt pledged to establish strong banking safeguards. there must be a strict supervision of all banking and credit and investments. there must be an end to speculation with other people's money. one of roosevelt's first presidential acts was to declare a national bank holiday. merritt sherman, who was with the federal reserve then tells us why roosevelt took this action. what roosevelt was trying to do was to create a period in which the whole banking system individual banks could be reviewed by bank examiners, by experts who had a great deal of information about banks and enable them, through the procedure of licensing banks to reopen, to carry out the promise made by the president that any bank that was reopened would be able to stay open. in his fireside chat fdr told the nation that the reopened banks were safe. let m

it has to move from the herbert hoover building so the building can be renovated. the 1500 animal it is houses will be moved into new shelters, including the national aquarium in baltimore. they want to bring a similar attraction back to d.c. right now there's no definitive plan for that. >> such a popular attraction that maybe the future is so far away in d.c. again. >>> before you use the atm, check with your bank. it may cost you just a little more. that's coming up in jessica's your money report. >> you know what? it's almost fall but summer is not done yet. howard's first alert forecast is coming up next. i guess we're going to be >>> it is 4:39. chilly in spots and some fog toward warrenton and culpeper. the usual suspects. as far as today, though, after the chilly start, it's going to be a nice afternoon. partly to mostly sunny with temperatures in the mid- to upper 70s. yeah, a little taste of summer returning this week. we'll have your seven-day forecast coming up in a few minutes. >>> in glen bernie on the ramp from i-97 south to route 32, i told you abou

really wasn't until the 1920s that a grassroots movement came afoot to make it official, and herbert hooverublic law in 1931. >> what are some of the highlights of the bicentennial exhibit? >> we have a lot going on for the bicentennial. we have our new state-of-the-art visitor and education center, where we have 5,000 square feet of pure awesome exhibits. you can vote on declaring the war of 1812, an interesting imax movie that puts you in the center of the action, and fort mchenry is getting all new exhibits inside the old fort, so it's an incredible story, and it's never been told like it has been right now for the bicentennial. >> ♪ o say does that star-spangled banner yet wave ♪ ♪ o'er the land of the free ♪ and the home of the brave? >> yes, it does. 200 years later, our flag still proudly waves, spangled with a lot more stars. for "tkn," i'm carly. >> we're continuing our special coverage of 9/11/2001. on that day, terrorists hijacked four planes. two were flown into new york city's world trade center buildings. in washington, d.c., a plane was slammed into the pentagon. the fourth p

[no audio]p] >> she is there speaking in support of herbert hoover. >> it is such an odd appearance.ou do not think of her as being politically active in the years following. it suggests that internal family dynamic. remember, the high part about the roosevelts, they did not always get along. it is remarkable that on the eve of the election that everybody realize was a loss, she would go to a republican venue to affect a breach. with the other roosevelt. >> they wear a different party but is adjusted part of royalty and family. >> i do not think of edith roosevelt as a party -- a partisan figure. it is a characteristic. section forw was a fdr. i am losing my voice will stop -- >> i'm losing my voice. --t are you looking for to 42 -- forward to? >> growth in the role and influence and continuing professionalization of the office of the first lady. and much better media savvy. >> a growth if possible but the change unavoidably. clearly aia is dominant, increasingly dominant criteria for every first lady but in the end, the biographical, human stories. to there not limited 19th century

california governor used a torch to cut through the chain and san francisco mare, and herbert hoover and the chief engineer. and i was talking to a guy here earlier, she 93-1/2 years old. his name is pete. he was here in 1936. you may hear from him later. noelle walker is out here well. he said they jumped the gun. they started to walk over across the bridge before they finished cutting the chain and cutting the ribbon and they said they got as far as the tunnel and national guard members came up with their baenets and said get off the bridge. he said it was so much fun till they got to the national guard. let's go to treasure island with ktvu's tom vacar. you have been covering the project since it first began. exciting they will be opening it tonight. i am sorry, say that again? is tom ready? okay. tom, it is exciting they will be opening the bridge but we knew they would open ahead of time. they always filled in extra time but everyone 82 it would be today -- knew it would be today. >> reporter: it may not have been planned that way but they needed the extra time of 24-30 hours an

herbert hoover had signed a bill that gave the fed the power to give money to anybody that they felt they needed. that was repealed. you do not have that power anymore. >> elizabeth warren has said that we get a lot nice things in. frank -- we did a lot of nice things in dodd-frank, but we haven't solved the problem. >> too big to fail has to and. -- end. this is not what i'm concerned about. as a result of this legislation, regulators have the twill's -- tools to manage the failure of large financial institutions and keep it out of bankruptcy. what i have said is that too big to fail is a misnomer. it is not just size. it is complexity and interconnectedness. i go on to say that, that, no bank is too big to liquidate. if we had in other global one, is a system set up? >> we can deal with what we have in the u.s. we have much better tool is to work with. if you ask me if those twill sub and refined globally, i would say that more needs to be done. -- if those tools have been refined globally, i would say more needs to be done. we do not have a perfect regulatory system in the united

the most unlikely republican candidate was former president herbert hoover, who is hoping to make a comeback. only one candidate was not an isolationist. and he was definitely the dark horse at the convention. his name was wendell wilkie. he came from and deanna and was the head of the commonwealth and southern utilities corp., a holding company that controlled the power supply is millions of americans. wilkie had never before run for public office. and until very recently, believe it or not, he had been a democrat. unlike the other republican candidates, wilkie was a moderate who believed that the government needed to take some responsibility for the security and well-being of its citizens. he agreed with much of the new deal, but he claimed that he managed both programs more efficiently. on the subject of the war in europe, wilkie was determined to stand up to hit land supply of great britain with all possible aid. he said that a british defeat would be a calamity for the united states. on the fourth evening at the convention, delegations finally cast their vote. on the first ballot, do we

inaudible] ♪ >> speaking in support of herbert hoover. >> such an odd appearance.ou don't think of her as being politically active in the years following his death. it suggests that internal family dynamic. remember, the roosevelts didn't always get along. but it was remarkable that on the eve of an election which everyone realized was lost she would go to so public a venue to declare a breach with the other roosevelts. >> but they were of different parties. so suggest party loyalty more strong than family? >> i don't think of edith roosevelt as a party -- as a partisan figure. it's just so uncharacteristic. >> what i saw, and the quality of the video was a section. >> yes. >> i'm losing my voice. but set the stage. what are you looking forward to as we close in season two from this woman edith roosevelt to michelle obama? >> growth in role, growth in he influence, continuing professionalization of the ffice of the first lady, and much better media savvy. >> growth, if possible, but hange unavoidably. the media is clearly adom nant, increasingly dominant criteria f

this is really a matter of herbert hoover in particular who was worried that he was overheating. he was right to be worried about it. the federal reserve, for central bank errors and central bankers scrape the, france and germany all night and had a secret meeting in long island not far from ireland or it had taken off a couple weeks earlier. they decided very, very mistakenly to cut the interest rate everywhere, which is what will they let to the crash the following year and the great depression that followed after that. >> that is just a quick preview of bill bryson's new but coming up october 2013, "one summer: america, 1927" you are watching booktv on c-span 2. >> here's a look at works being published this week: >> for the 2013 roosevelt greeted festival, discusses her book up to. this is about half an hour and start on booktv

herbert hoover had given money to the bull moose party and a lot of people saw hoover as a progressiveepublican in tr's mold. >> david welsh wants to know which of the progressive issues were closer to eleanor. i wouldn't think of her as being in active or former, but she was sympathetic with some of the progressive reforms. >> let's first take a call from jolo in michigan who has been waiting. >> i have a question for stacy. i read her book about alice and i was totally impressed with it. it is the only book i've ever read about her. was her impersonations of eleanor as good as everyone said they were? >> yes, apparently they were that good. she was a pretty good mimic. >> today read that as they were departing the white house and the taft's are coming in, she was photographed sticking her tongue out? >> i wouldn't be surprised. >> in what ways was edith well- suited to be a 20th century first lady? >> i think 20th century first lady's have had to be partners. it is such a demanding job, but the president really needs not only emotional support but he needs practical help. there have

herbert hoover gave money to the bull moose party and people saw hoover as a progressive republican. >> which of the movements was closest to mrs. rose veelts heart? >> she supported parks and playgrounds in oyster bay. so i wouldn't think of her as being an active reformer. but she was sympathetic with some of the reforms. >> four minute, going to tie a bow around all of this. what we learned about edith is let's take a call from joel in monroe, michigan who's been waiting. hi, joem. >> i have a question for stacy. i read her book about alice. i was totally impressed with it. it's the only book i've ever seen about her. i want to ask a question -- were her impersonations of eleanor as good as what everybody said they were. >> yes, they really, really were that good. she did a mean one of mrs. taft that got in the way of the transition of the roosevelt-taft white house as well. she's a good mimic. >> did i read after she was leaving the white house and the tafts were coming in, she stuck her tongue out at the press? >> i wouldn't be surprised. >> it was her personality. >> in what wa

[audio clip] is there speaking in support of herbert hoover. >> it is such an audit periods. you do not think of her as being politically active in the years following. that internal family dynamic. the high part about the roosevelts, they did not always get along. it is remarkable that on the eve of the election that everybody realize was a loss, she would go it suggests party loyalty more strongly. >> i do not think of edith roosevelt as a partisan figure. it is so and -- icharacteristic great >> solve this. >> absolutely. i'm losing my voice. set the stage. what are you be looking forward to? growth and the influence. growth and the role. professionalization of the first lady. much better media savvy. rex growth with possible but change unavoidably. is increasingly dominant criteria. then there is the biographical human story. it is how these people in door and the very rough world of politics which they may or may not have aspired to be a part of. and the history that they influence in the process. it is ancy reagan said, bully pulpit. you would be an idiot not to do it.

herbert hoover had signed a bill giving the fed the power essentially to give anybody money who neededt to keep the economy going. you don't have the unrestricted power anymore. >> a number of people from bob dimon to elizabeth warren, the senator of massachusetts said we did a lot of nice things for dodd frank and glad that the banks have more capitol. but we haven't solved the problem of too big to fail. do you think we solved it? >> well, here's what i'll say. first of all, i have no doubt too big to fail has to end. we have -- this is not the -- the thing that i'm most concerned about because as a result of dodd-frank, regulators now have the tools to manage the failure of any large financial institution. and to keep it out of bankruptcy. so what i've said is the too big to fail is a misnomer anyway. because it's -- it's not just size, it's complexity. it's interconnectiveness, for number one. i go on to say that no bank is too big to liquidate. almost any bank of sites is too big to liquidate immediately in the crisis. >> do we have a global one? >> in terms of what we can do is w

the fed had a power signed into law by herbert hoover that said they could basically give money to any entity they deemed expedient. that is where the $85 billion to aig came, to a lot of people's surprise. that has been abolished. instead, the fed has the ability it might be a big institution, but it is money anybody can apply for, but they can only extend that money to an institution they find to be solvent. it has been abolished. but here is the other factor. if an institution cannot pay its debts, there is an alternative pot of money. that pot of money is the power of the secretary of the treasury. the secretary of the treasury is empowered to pay off debts and put money in if he thinks it is necessary to prevent a meltdown, but he is mandated, not permitted, but mandated under the bill to recover every dollar from an assessment of financial institutions with $50 billion in assets or more with a form that essentially says, if you are to play with derivatives, this is not mutual funds -- >> you make a good point. and i want to -- >> let me make one more point. i think it is inconcei

sense that we -- the fed had a power of under 13-3 of the federal reserve act signed into law by herbert hoover which people forgot that was there that said they could give money to any entity in if they deemed it expedient. that's been abolished. instead the fed can do what ug said, set up a facility but it's got to be one anybody can apply for. and they have to. it's for cases where they beev the liquidity -- but they can only extend noun an institution they find to be solven't. so that's a very important piece of it. so u right. it's been abolished. but here is the other factor. if a large institution now cannot pay its debts or if the money markets funds, there is an alternative pot of money. that pot of money is the power of the secretary of the treasury, well, the secretary of the treasury is empowered to pay off some debts, put some none if he thinks that's necessary to prevent meltdown. but he is mandated under bill to then recover every dollar from an aacceptsment that he is authorized to assess on financial institutions of $50 billion of assets or more with a form la that basically sa

herbert hoover had given money to the bull moose party and a lot of people saw hoover as a progressive republican in tr's mold. >> david welsh wants to know issuesf the progressive were closer to eleanor. i wouldn't think of her as being in active or former, but she was sympathetic with some of the progressive reforms. >> let's first take a call from jolo in michigan who has been waiting. >> i have a question for stacy. i read her book about alice and i was totally impressed with it. it is the only book i've ever read about her. was her impersonations of eleanor as good as everyone said they were? >> yes, apparently they were that good. she was a pretty good mimic. >> today read that as they were departing the white house and the taft's are coming in, she was photographed sticking her tongue out? >> i wouldn't be surprised. >> in what ways was edith well- suited to be a 20th century first lady? >> i think 20th century first lady's have had to be partners. it is such a demanding job, but the president really needs not only emotional support but he needs practical help. there have been q

. >> that was another thing though but the fed did, apparently herbert hoover had signed a bill giving the fed the power essentially to give money toy wp the economy going. sectio13.3. that w repealed. so you don't have that unrestricted power anymore. >> a number of people, bob diamond, former ceo of barclays to elizabeth warren, senator from massachusetts, we did a lot of nice things with dodd-frank and glad banks have more capital but we haven't solved the problem of too big to fail. do you think we solved it? >> well, here's what i will say. i have no doubt too big to fail has to end. we have, we have, this is not the thing that i'm most concerned about because as a result of dodd-frank regulators now have the tools to manage the failure of any large financial institution. and to keep it out of bankruptcy. so, what i've said is, too big to fail is a misnomer anyway because it's, it's not just size, it is complexity, it is interconnectiveness. number one. i go on to say that, that no bank is too big to liquidate. almost any bank of size is too big to liquidate immediately in the mid

may 6, 1935, former republican president herbert hoover said this about the united states -- and i quote -- "as a matter of economic security alone, we can paoeupbd it in our -- find it in our jails, the slaves had it. our people are not ready to be turned into a national zoo. our citizens classified, labeled and directed by a form of keepers." that is a former president on social security. madam president, it is not widely known, i didn't know it, but in 1936 the republicans campaigned to repeal social security. that year the republican nominee for president, alf landon said that social security -- quote -- "is unjust, unworkable. stupidly crafted and wastely financed." he called social security a fraud on the working man and a cruel hoax and said we must repeal social security. the republican party has pledged to do this. end of quote. alf landon, republican candidate for president. well, turned out not quite to be the case. turned out that social security will probably go down in history as maybe the most important and successful program ever passed by the united states congress, play

[audio clip] [no audio] >> she is there speaking in support of herbert hoover. >> it is such an odd appearanceng politically active in the years following. it suggests that internal family dynamic. remember, the high part about the roosevelts, they did not always get along. it is remarkable that on the eve of the election that everybody realize was a loss, she would go to a republican venue to affect a breach. with the other roosevelt. >> they were a different party but is adjusted part of royalty and family. >> i do not think of edith roosevelt as a party -- a partisan figure. it is uncharacteristic. >> what i saw was a section for fdr. >> i'm losing my voice. what are you looking forward to? >> growth in the role and influence and continuing professionalization of the office of the first lady. and much better media savvy. >> a growth if possible but the change unavoidably. as the media is clearly a dominant, increasingly dominant criteria for every first lady but in the end, the biographical, human stories. which are not limited to the 19th century or 20th century or media, but how these peo