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The New Deal and Recovery, Part 13: Fear Itself (Continued)


New Deal hampered recovery by causing businessmen to fear policy changes that might render their investments unprofitable.)
Insull s Monstrosity
The 1935 Revenue Act wasn t the only measure that had businessmen and investors shuddering that August. Less than a week after it became law, FDR signed the still-more controversial Public Utility Holding Company Act, granting the SEC the power to break up the nation s utility holding companies.
On the eve of the Depression, Paul Mahoney explains, most U.S. electric and gas companies were directly controlled by trusts or holding companies. Groups of smaller utility holding companies were in turn controlled by a smaller number of larger holding companies, and so on for several layers. Three gigantic holding companies at the apex of this holding company pyramid ultimately controlled more than 80 percent of the nation s power companies. ....

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Man charged with child sex assault while acting as track coach in Galveston Co.


Man charged with child sex assault while acting as track coach in Galveston Co.
(Galveston County Jail)
GALVESTON COUNTY, Texas - One man is facing charges after authorities said he assaulted a child under the age of 17 multiple times. 
Floyd Ira Thompson, 39, also known as Coach Floyd or Coach Thompson, is charged with four counts of sexual assault of a child, according to an arrest affidavit. 
The affidavit stated that the assault is believed to have began in 2018 when Thompson was coaching the 16-year-old girl in track and field. 
According to the affidavit, the girl told police that she worked and trained with Thompson hoping to get a college scholarship and that she trusted in him.  ....

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Kemah coach accused of sexual assault


Kemah coach accused of sexual assault
Sarah Smith
© Courtesy Galveston County Sheriff
A Kemah man has been arrested on charges that accuse him of sexually assaulting a girl, according to court documents.
Floyd Thompson, 42, was a personal track coach and allegedly met the victim in his coaching job, per the Galveston Daily News, which first reported the story. He was charged with four counts of sexual assault on a child, per the court record.
Thompson, who was arrested on Monday, is in Galveston County Jail on bond totaling $400,000.
The Kemah Police Department spokesperson was not immediately available for comment.
The Galveston Daily News reports that the police affidavit alleges that Thompson met the girl in 2016 and that he allegedly sexually assaulted her four times before she turned 17. Police, according to the Daily News, did not charge Thompson after the girl reached her 17th birthday because she had reached the age of consent ....

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