http://www.nytimes.com/2009/09/03/opinion/03smith.html?emThis was not true of Franklin Roosevelt and the Democratic Congresses that enacted the New Deal. With the exception of the Emergency Banking Act of 1933 (which gave the president authority to close the nation’s banks and which passed the House of Representatives unanimously), the principal legislative innovations of the 1930s were enacted over the vigorous opposition of a deeply entrenched minority. Majority rule, as Roosevelt saw it, did not require his opponents’ permission.
When Roosevelt asked Congress to establish the Tennessee Valley Authority to provide cheap electric power for the impoverished South, he did not consult with utility giants like Commonwealth and Southern. When he asked for the creation of a Securities and Exchange Commission to curb the excesses of Wall Street, he did not request the cooperation of those about to be regulated. When Congress passed the Glass-Steagall Act divesting investment houses of their commercial banking functions, the Democrats did not need the approval of J. P. Morgan, Goldman Sachs or Lehman Brothers.
Roosevelt took the country off the gold standard and Congress enacted legislation nullifying clauses in private contracts stipulating payment in gold over the heated opposition of many of the nation’s wealthy. The Agricultural Adjustment Act setting production quotas and establishing price supports was adopted over the fierce opposition of the nation’s food processors. Establishment of the Civilian Conservation Corps was fought tooth and nail by organized labor because of the corps’ modest wages. Social Security became law over the ideological objections of those who believed that government was best which governed least and that individuals should fend for themselves or rely on charity. And the authority of the government to set maximum hours and minimum wages, as well as the right of labor to bargain collectively, was established despite the vociferous opposition of American business (more)