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The Causes Of The Great Depression

The Causes Of The Great Depression

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Title: The Causes Of The Great Depression

Essay Details:

Subject: Miscellaneous

Author: Anthony G

Date: June 11, 2015

Level: University

Grade: A

Length: 4 / 908

Essay text:

That easy credit lured more speculators and less creditworthy investors into the stock market. The Federal Reserve board warned member banks not to lend money for stock speculation because if prices dropped, many investors would not be able to pay back their debts. No one listened. The stock market began sliding in early September, but people ignored the warning. Then on "black Thursday" (October 24, 1929) and again on "black Tuesday" (October 29, 1929) the ball dropped. More than 28 million shares changed hands in frantic trading. Overextended investors, suddenly finding themselves in heavily in debt, began selling their stocks...

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