As a response to the bank failures of the ________, a system of federal deposit insurance was established to strengthen the banking system.

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The Great Depression was a period from 1929 to 1939 when the stock market crashed and many banks failed, leading to widespread economic hardship. In response to this crisis, the federal government established the Federal Deposit Insurance Corporation (FDIC) in 1933 to insure bank deposits and increase confidence in the banking system. This helped stabilize the banking industry and prevent future bank failures.

As a Response to the Bank Failures of the ________