Cause of the Great Depression

Discussion in 'Economics' started by tradersboredom, Jan 11, 2009.

  1. tradersboredom

    tradersboredom Guest

    Cause of the great depression was sytematic "FRAUD"

    Wall street censored any mention of FRAUD as the cause of the great depression in lots of texbooks and don't teach you that in college.

    ponzi schemes, ets, bank failure, brokerage failure, bank embezzlement. even the fraudsters didn't know they could create so much economic damage from their street hustling fraud.
  2. talknet


  3. blnbr


    I suspect so. But I wonder what's the purpose of the systematic "fraud", and how those guys achieve their goal though.
  4. There's probably some truth behind it, but do you have any facts to back up these bold statements? At least a link to a paranoid blogger's web site?
  5. The purpose was to steal as much money as you could.
  6. Cause of any recession or depression:


    ...a lack thereof.

    People will happily take out 12% auto loans and 10% mortgages all day and all night long if they have a steady paycheck and feel their job is secure.
  7. heypa


    The crooks exacerbated CHANGE. Much like today.