Honest Government Ad | 2025 Election

In part two, journalist Jonathan M. Katz discusses the financial elite and fascist sympathizers who were conspiring to undo FDR’s economic reforms in what is known as the foiled Business Plot of 1933. Retired U.S. Marine General Smedley Butler, who outed the coup plotters in Special House committee hearings in 1934, subsequently published War is a Racket, a pamphlet critiquing the monied interests behind America’s imperial war machine. Katz describes Butler’s transformation from “racketeer for capitalism” to anti-war critic and underscores the political salience of working-class issues in the Great Depression’s aftermath, as demonstrated in the Bonus March of 1932 and in FDR’s New Deal.