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John Falatek 1907 - 1985

John Falatek of Bethlehem, Northampton County, PA was born on April 17, 1907, and died at age 78 years old in July 1985.

John Falatek

Bethlehem, Northampton County, PA 18015

April 17, 1907

July 1985

Male

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John Falatek John Falatek (1907 - 1985)

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John Falatek's History: 1907 - 1985

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04/17

1907

Birthday

April 17, 1907

Birthdate

Unknown

Birthplace

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07/dd

1985

Death

July 1985

Death date

Unknown
Cause of death

Unknown
Death location

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John Falatek lived 1 years shorter than the average family member when died at the age of 78.

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John Falatek lived 1 years shorter than the average family member when died at the age of 78.

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In 1907, in the year that John Falatek was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.

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In 1944, he was 37 years old when on June 22nd, the Servicemen's Readjustment Act of 1944, called the G.I. Bill, was signed into law, pushed through by the veteran's organizations. Benefits provided for veterans to return to school (high school, vocational school, or college), obtain low interest home mortgages and low interest business loans, and (if needed) one year of unemployment insurance. Since most returning vets immediately found work, less than 20% of the unemployment benefits were distributed.

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