The Roosevelt administration made similarly arbitrary decisions, Shlaes said, and that hurt markets in the long term.
In a letter written during this period to a friend, Helen Reid, Roosevelt articulated this core belief.
When Roosevelt took office in 1931, he faced a banking crisis much like the one our next commander in chief will face.
the family in America originally bore the name Van Roosevelt, "of the field of roses," descriptive of their estates in Holland. Claes Martenszen Van Rosenvelt, born August 1649, emigrated to New Amsterdam. His son (1653) and all his descendants dropped the "Van." Related: Rooseveltian.