Page last updated at 17:12 GMT, Thursday, 15 January 2009

Franklin D. Roosevelt: "Strict supervision of all banking"

In 2009, Barack Obama's inauguration speech is set to echo that of President Franklin D. Roosevelt's in 1933.

America was then in the grip of the Great Depression, with 25 percent unemployment and all but ten of the 48 states forced to close their banks.

In this extract he demands "strict supervision of all banking, credit and investment" as he pledges to "end speculation with other people's money".

Return to the main article: Tapping Deep into America's Past

The second series of America, Empire of Liberty will broadcast from Wednesday, 19 January 2009 on BBC Radio 4. Listen daily at 15.45 GMT, or catch up on the BBC iPlayer.

The accompanying book America, Empire of Liberty is published in the UK in January 2009.


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