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The Cause Of The Great Depression
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The enormous amount of unsecured consumer debt created by this speculation left the stock market essentially off-balance. Many investors, caught up in the race to make a killing, invested their life savings, mortgaged their homes, and cashed i .... Middle of Term Paper
... Exchange had lost four billion dollars, and it took exchange clerks until five o'clock AM the next day to clear all the transactions. By the following Monday, the realization of what had happened began to sink in, and a full-blown panic ensued. Thousands of investors -- many of them ordinary working people, not serious "players" -- were financially ruined. By the end of the year, stock values had dropped by fifteen billion dollars.
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| Number of Words: 209 |
Approximate Pages: 1 |
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