As president, Herbert Hoover attempted to reform the New York Stock Exchange, concerned over the dangers of excessive stock market speculation. Most of this reform fell outside his jurisdiction. Whose jurisdiction did it fall under, you may ask? None other than the Governor of New York, Franklin Roosevelt, who resisted all counsel of moderation. This is not to mention his immensely flawed New Deal social programs. It is interesting to note that unemployment was approximately 25% after four years of the Hoover administration; after four years of the Roosevelt administration, 1937, it was still around 25%. What prompted the economic turnaround of the early 40's? WWII, and the thriving factories that produced items to assist the U.S. effort during WWII. Roosevelt is the most overrated president of the 20th century.
