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Prices began to decline early in the day, triggering a selling panic in the New York Stock Exchange (NYSE). The crash in the market spelled disaster for the national economy because corporations with heavy investments faced a sudden and almost overwhelming shock to their assets. Investing froze and as a result, the national economy fell into an unprecedented period of depression.
The recovery in the US began with the strategic thinking of one man…The inauguration of President Roosevelt. Roosevelt had no idea what he was to do, either. But he did have a conviction that he could do something important...
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