Which of the following is TRUE of the Federal Reserve\'s response to the banking

Question

Which of the following is TRUE of the Federal Reserve's response to the banking crises of the 1930s and 2008? In both crises, the Fed failed to use its power to act as a lender of last resort or to guarantee liabilities of troubled banks. In 2008 the Fed acted aggressively as a lender of last resort and to guarantee liabilities of troubled banks, but it did not act in the 1930s. In the 1930s the Fed acted aggressively as a lender of last resort and to guarantee liabilities of troubled banks, but it did not act in 2008. In both crises, the Fed acted aggressively as a lender of last resort and to guarantee liabilities of troubled banks. Financial problems began in Greece in late 2009, when: the European Union forced Greece to give up its membership. the Greek government revealed that it had understated its budget deficits and debt. Greece adopted the euro. the United Nations imposed trade sanctions on Greece. The primary cause of the Spanish recession following the 2008 financial crisis was a: stock market crash. housing bubble. public debt crisis. devaluation of Spain's currency, the peseta.

Explanation / Answer

0)

In both crises, the Fed failed to use its power to act as a lender of last resort or to guarantee liabilities of troubled banks

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