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So many of the technologies that we know today were stolen from China by the West, such as porcelain, gunpowder, compasses and bank deposit insurance.

There is also an ongoing debate about raising the bank deposit insurance cap from $250,000 and imposing stiffer penalties on executives at banks that fail.

Revoking bank deposit insurance would be a crippling blow for any financial company.

The New Deal had by then established Social Security and federal bank deposit insurance, but what became known as the Work Projects Administration was arguably its most ambitious program.

He wrote position papers, legislative proposals and reports on a range of issues, including strengthening the Federal Home Loan Bank System and bank deposit insurance reform.