In early October 1931, at the height of the global economic crisis, the U.S. banking system is in crisis - with the bank suspensions works for the near record levels. At the same time, the overall economy was sputtering, and the U.S. gold reserves have come under severe pressure after Britain abandoned the gold standard in September. As the pressure continued to mount, the heads of the Federal Reserve System has encountered a number of important decisions. Do they have to adjust the interest rates? Was the abandonment of the gold standard, an acceptable option? If they are providing a free commercial banks? Or is it just to provide all sorts of financial excess that got the country into trouble in the first place? It was time to give in to the mounting pressure, or stand firm? "Hide
by David Moss, Cole Bolton Source: Harvard Business School 32 pages. Publication Date: January 20, 2009. Prod. #: 709040-PDF-ENG
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