 Democrats positioned the program as a kinder alternative to Hoover's alleged apathy towards the unemployed.The economy continued to worsen, with unemployment rates nearing 23 percent in early 1932, and Hoover finally heeded calls for more direct federal intervention.In January 1932, he convinced Congress to authorize the establishment of the Reconstruction Finance Corporation (RFC), which would provide government-secured loans to financial institutions, railroads, and local governments.