People were stunned and started going broke after a couple of days after they realized the bank wasnt going to get back open . People started getting carried away and started to protest to the president , ' Franklin D. Roosevelt. He got over turned nd blew up the hoovervilles . A Hooverville is a parking lot people build little shacks out of anything possible. Over 10 people died and mooms and dads were terrified, and all of this happened because of ' Banks Closing ' which we now call ' The Crash !........!
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
Frightened depositors feared for their money and tried to withdraw it from their banks.
global economic problems
It was a worldwide event and the trickledown effect devestated every industrial nation.
Many banks closed (apex)
The long term effect of the Stock Market crash was followed by the Great Depression.
Many banks were closed. The country entered into a depression.
Many banks were closed. The country entered into a depression.
The biggest effect was that, the whole economy of USA and many other countries were sent into a recession. People lost their jobs, banks closed, businesses went bankrupt etc. Everyone lost money
Many banks closed.
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
Many banks were closed
Gordon banks was a very good goalkeeper, he was also the heaviest goalkeeper. He lost a eye in a car crash.
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
The Banking Act of 1933 established the Federal Deposit Insurance Corporation and was signed by FDR in 1933. The FDIC was insurance, backed by the federal government, for deposits in banks. Its immediate effect on the economic situation in the 1930s was to restore public confidence on banks and stop the "run on banks" that occured after the Stock Market Crash.
Mergers and decreasing numbers of banks