Explain the main weaknesses of the banking system and of the Federal Reserve System during the Fed’s early years, 1914-1933.

Explain the main weaknesses of the banking system and of the Federal Reserve System during the Fed’s early years, 1914-1933. By 1933, Congress has passed several new pieces of legislation that aimed at strengthening the system. Explain how the above weaknesses were addressed in the post-1933 financial regulatory landscape.