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Did the Great Depression lead to people losing their bank accounts?
Wiki User
∙ 15y ago
Yes the banks gave people's money in loans to others who couldn't pay them off. During a banking panic when several went to withdraw their deposits the money was lost in loans to other people.
Wiki User
∙ 15y ago
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Why does the government ensure all deposits of money into bank accounts?
Simple for consumer confidence. we saw it in the great depression people swarmed to get there money out.. A bank does not hold all accounts full, they loan money. so people get scared some might say well its insured... like running to the store in a food crisis.
How did buying stocks on credit contribute to the Great Depression?
When stock prices fell, people did not have the money to cover their losses.
What followed the Stock Market Crash of 1929?
it was followed by the Great Depression
Define economic depression and name at least one example of one?
An economic depression is a sustained, long-term downturn in economic activity in one or more economy. An obvious example is the U.S. Great Depression.
What is a breadline?
A breadline is a line a of people waiting to receive food given by a charitable organization or public agency. Especially during the Great Depression, due to the many people who did not obtain an occupation thus, having no money to pay for food.
What effect did the closing banks have on the people during the great depression?
it was hard on people losing their savings. some killed themselves dgjhgjdfbghjgfgb
How did people find work during the great depression?
They couldn't. The Great Depression had caused many business to let workers go, because they were losing money. Everyone was losing money, so no one could help no one
Major events of the 1920s?
Probably the biggest event was in 1929, when the Great Depression and Stock Market Crash occured. The Great Depression was one of the worst recession in US hitory. There was high unemployment and people had no money in their bank accounts.
How were rich people affected in the great depression?
Many people, both rich and not so rich lost all they had. Investments collapsed to no value. Banks closed and all the accounts people had in them vanished. Some rich people rode the great depression through with little difficulty, but few were totally unaffected by it.
When did people start losing houses during the great depression?
because they couldn't pay their bills bebt or rent so they lost their house to pay for it.
Did people yell in the Great Depression?
of course, great depression increase unemployment
Who was invalved in the Great depression in Canada how many people died in the great depression?
465 people died
Was it a recession or the Great Depression or prohibition when people loss their life savings?
This was The Great Depression
How were the hoovervilles important to the Great Depression?
Hoovervills were important to the great depression because when people's homes went to foreclosure, they had no where to go. Hoovervills gave people shelter and food during the great depression when people had no where to go.
In 1927 what caused some banks to fail in the Great Depression?
the bank faild because they were losing money
How many people where Homless people during the Great Depression?
How many people were homeless during the Great Depression? Between one and two million people.
What food did the people in the Great Depression eat?
the great depression people didn't eat alot.
