Did the stock market crash affect people who did not buy and sell stocks?

Answer 1

Yes. Many government created agencies were created due to the market crash of 1929. The SEC Securities Exchange Commission was created to regulate stocks, bonds, and other commissions. It was created in 1934. The FDIC Federal Deposit Insurance Corporation was created to insure consumers' deposits in FDIC enrolled institutions. the FCIC Federal Crop Insurance Corp was created to insure crops created by farmers. Many American producers were in dire need of sales. Banks were foreclosing on unpaid debts, many banks had invested their customers money without their consent, so customers lost money, too. President Roosevelt was instrumental to get this county back on its feet. He helped the average American, but did not stop there. He helped banks return to solid ground and he greatly improved the national infrastructure through public works programs. CCC Conservation Corps was created to a public works program for unemployed young men age 18-24 providing unskilled manual labor related to the conservation and development of Natural Resources in rural areas of the United States from 1933 to 1942. Youth had a very hard time finding employment. It provided jobs for 3 million young men from families on relief.

There are many more improvements and changes that occured due to the Market Crash of 1929. Very interesting subject. Thank you.