If there is any single image that is proffered to validate the entire Keynesian project up until this very present day, it is the myth that the banking system had utterly failed by March 1933 and that businesses and households were suddenly left destitute and unable to even access their own cash deposits.
The image of a banking system gone dark, in fact, spells structural failure like no other and over the decades has become the prima facie reason why Washington monetary and fiscal Nannies must always be on the alert, ready to inject massive stimulus whenever the macroeconomy falters even slightly. And that is to say nothing of any old-fashioned attempt to purge excesses and imbalances through the cleansing mechanism otherwise known as recession.