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Why were the banks one of the first institutions to feel that affects of the stock market crash?
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Why were the banks one of the first institutions to feel the effects of 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.
Why were banks one of the first institutions to the feel the effects of the stock market crash?
Frightened depositors feared for their money and tried to withdraw it from their banks.
What is the stock market crash seen as the beginning of?
If you are referring to the stock market crash of 1929, that was the beginning of the Great Depression.
Why did many banks collapse in the early 1930's?
It was because of the great depression, which meant the stock market crash. Of course the stock market crashing would cause the money to drop in its worth for example if you had £1000 it would drop down to £10 (just an example). People had money stored in banks, so the bank would owe the people lots of money but the money would be worth less so they would need more money to repay the people, but in fact they didn't have enough, in turn this caused the banks to crash.
What stands for FDIC as insurance term?
FDIC stands for the "Fedral Deposit Insurance Corporation". This is a federal government entity set up after the the stock market crash of the 1930's bankrupted thousands of banks and other financal institutions across the United States. Millions of people lost their entire life savings when the banks defaulted. When they went to withdraw their savings or checking accounts they were turned away because the bank had no money to give them. At that time their was little if anything the public could do to recoup their losses. Today the FDIC insures consumer deposits in member financial institutions up to the stated amount.
Why were banks one of the first institutions to feel the effects of stock market 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.
Why were the banks one of the first institutions to feel the effects of the stock market 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.
Why were the banks one of the first institutions to feel the effects of 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.
Why were banks one of the first institutions to the feel the effects of the stock market crash?
Frightened depositors feared for their money and tried to withdraw it from their banks.
What was a long term of the stock market crash?
Many banks closed.
What was a long term effect of the stock market crash?
The long term effect of the Stock Market crash was followed by the Great Depression.
What was a long term affect of the stock market crash?
Many banks were closed
What was a long-term effect of the stock -market crash?
Many banks were closed. The country entered into a depression.
What was long term effect of stock market crash?
Many banks were closed. The country entered into a depression.
Why did stock market crash cause banks to fail?
People were worried that the Stock Market crash put their money at risk which made them rush to the bank to pull out all their money and it made the banks lose all their money and forced them to declare bankruptcy and many ended up crashing.
What describes what happened on black Friday?
The stock market crashed, banks closed, and millions lost everything they had in the crash.
Why did the stock market crash after banks closed?
Banks did not close after the Stock Market crash. The stock market crash was induced by the closure/failure of Banks.
