Read this;
Franklin
Delano Roosevelt is the only United States president to have been elected to four terms of office. FDR transformed the presidency and placed the institution at the very center of American life.
During twelve years in office, Roosevelt shepherded his nation through the two greatest American crises of the twentieth century -- the Great Depression and World War II -- and left a legacy of political freedom and domestic security to the American people.
When Roosevelt took the oath of office on March 4, 1933, America lay in the depths of the Depression. Between 12 million and 15 million Americans, about 25 percent of the work force, were unemployed. Millions of people had lost their life's savings. Many had lost their homes and lived in makeshift shacks. Many more stood in long lines for free soup and bread. Eleven thousand of America's 25,000 banks had failed. Herbert Hoover, Roosevelt's predecessor, had steered a mostly idle course through the crisis, waiting for the economy to correct itself, but the correction had not come.Franklin Roosevelt was not the type of man who waited for events to happen. In his inaugural address, he swore to bring the nation a New Deal, and backed by a soundly Democratic Congress, he took Washington by storm. Within days of taking office, he closed the remaining banks, avoiding a run on deposits that would have finished them all. He set up a system for judging the soundness of banks and reopened the ones that were solid. He moved to put the government itself on a budget, freeing up federal dollars for relief and reform measures.
http://www.pbs.org/wgbh/amex/presidents/32_f_roosevelt/... I think this is what Biden WAS talking about!!