In an article about the rising of popular discontent as indicated by the "Tea Party" movement, The Nation magazine makes the following comment about FDR and New Deal laws; "It was unsanctioned moblization of people that drove congress and FDR to go further than they had intended in passing such landmarks as Social Security and labor rights for working people. In 1933 the American Bankers Association led the fight against federal insurance of bank deposits. 'Unsound, unscientific, unjust and dangerous' the ABA thundered. Federal Reserve officials objected to the measure too. Even the Roosevelt admin declined to endorse it. Congress enacted it anyway, knowing how angry people were at losing everything in...bank failures". (How could the ABA object when someone else was going to back them up?)
(Source: "Political Fever" by William Greider. The Nation magazine 2/15/10).
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