The Truncated Career of Autonomous Federal Agencies
The Truncated Career of Autonomous Federal Agencies
This chapter traces the history of federal corporate agencies. Modeled after the Emergency Fleet Corporation and the Federal Land Banks, government-owned corporations became a familiar part of the federal government's administrative repertoire during the First World War, and these mechanisms were again called into service during the Great Depression by both the Hoover and Roosevelt administrations. While President Hoover initiated this practice when he asked Congress to establish the Reconstruction Finance Corporation and the Federal Home Loan Banks, it was Franklin Roosevelt and his officials who extensively used these devices as they struggled to expand government capacity under emergency conditions.
Keywords: federal corporate agencies, government corporations, public authorities, Franklin Roosevelt, President Hoover
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