Financial meltdown similiar to 1929

Discussion in 'Wall St. News' started by tradersboredom, Jan 28, 2009.

  1. tradersboredom

    tradersboredom Guest

    Cause of 1929 was widespread financial corruption in the banking sector and overleveraged assets especially in stocks.

    banks and brokers went bankrupt, money supply evaporated overnight.

    and FED and gov't didn't know what to do and made the crash worse.

    even the wall street bears were shocked at the disaster that wall street crash had unleashed into the real economy.

    wall street shut down from 1934-1950
  2. The horror. It's a good thing so "few" people would have been unemployed as a result of that. :eek: