... hanging one of the most popularly elected presidents in American history and instating a pro-business government when the population is sick and tired of the government doing nothing to solve their problems? A (proto)military coup (really just a bunch of mercenaries, since the regular army fought to protect the elected government) in a nation priding itself on their democratic traditions?...
if this is accepted, very bloody 2nd American Civil War seems inevitable as the states and huge chunks of the population refuse to recognize the illegitimate government. I'm sure the Soviet juggernaut has plenty of equipment they can dump on Democratic forces.
Also, this seems to be more of a Kaiserreich Huey Long. IRL he was a strict anti-corporatist and leftist who actually called for the mass redistribution of wealth as one of the cores of his platform. Not exactly the sort to play the puppet for the business elite.
i'm basing this alternate history on the real conspiracy on the Business Plot of 1933 a plot to overthrow the elected goverment of the united states this would be Roosevelt also has just been elected and is not yet loved by the people it would be easy for the rich industrial capitalists to discredit him, it's also not unrealistic to suggest that many americans would agree that faschism works as a political system none of them have yet to experience the devastation of what facism can really accomplish when given enough time. http://en.wikipedia.org/wiki/Business_Plot