Agreed. that is the simplistic view. An interesting one here:

http://www.thefreemanonline.org/columns/what-ended-the-great-depression/#

FYI, the Freeman Online used to be the printed Freeman (I have copies going back to the 1980's), published for years by the Foundation for Economic Education.

The F.E.E. is rooted in Austrian Economic theory, which resonated in the works of economist/author Benjamin Anderson . BUT...since Mike B. disqualified Benjamin Anderson a few weeks ago, therefore the entire thing is invalid. <s>

In all seriousness, I'm glad you posted that. It is a good story about our leaders not wanting to repeat the errors in the 1930's when actions, however well meaning, made an already bad depression even worse. At that time, America was a little better at learning from mistakes.