 On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives, in which he accused the Federal Reserve of deliberately causing the Great Depression.McFadden also claimed that Wall Street bankers funded the Bolshevik Revolution through the Federal Reserve banks and the European central banks with which it cooperated.After the expulsion from Washington, D.C., of the veteran petitioners of the Bonus Army, which he called "the greatest crime in modern history", McFadden moved to impeach President Herbert Hoover in 1932, and he also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve.