MiddleOfRoader

Lucky Number 13: A Big Two-Day Advance in the Dow

PS After crashing 86% from 1929 peak to 1932, the Dow doubled from 1933 to 1937. So today's investors still in the game might get "lucky". I'm not sure about everyone else.

Lucky Number 13: A Big Two-Day Advance in the Dow

FDR was inaugurated March 4, 1933 in the middle of a bank panic, proclaiming "The only thing we have to fear is fear itself." Apparently it was a time of fear and paralysis. The next day he declared a bank holiday. After Congress passed an Emergency Banking Bill, on March 12, FDR announced the soundest banks would reopen. On March 13, deposits at the reopened banks exceeded withdrawals. "Capitalism" was saved.

Any parallels with the current situation?