Despite his philosophical differences with New Deal policies, Bernard Baruch assisted with the development of the National Recovery Administration, or NRA, which set minimum wages, maximum hours and a price floor.
Baruch was particularly interested in the NRA because of its similarity to the War Industries Board, which he had led during WWI. "Even the idea for an NRA insignia - the famous Blue Eagle - was taken from WIB," he said in his memoir.
Baruch did not retreat from his role as a Washington insider. He enjoyed being useful to the president as a financial adviser, and as a person who had some influence, especially with Southern senators.