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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 !........!
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What was the long term effect on the stock market crash on banks?
The long-term effect of the stock market crash of 1929 on banks was profound and led to increased regulation and oversight. Many banks failed due to their exposure to the stock market and poor risk management practices, resulting in a loss of public confidence. This crisis prompted the establishment of the Federal Deposit Insurance Corporation (FDIC) in 1933, which aimed to protect depositors and stabilize the banking system. Overall, the crash led to a more regulated banking environment to prevent future financial disasters.
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.
Which of the fallowing is an effect of the stock market crash?
global economic problems
How did the Wall Street crash of 1929 effect Britain?
It was a worldwide event and the trickledown effect devestated every industrial nation.
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 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.
What was the long term effect on the stock market crash on banks?
The long-term effect of the stock market crash of 1929 on banks was profound and led to increased regulation and oversight. Many banks failed due to their exposure to the stock market and poor risk management practices, resulting in a loss of public confidence. This crisis prompted the establishment of the Federal Deposit Insurance Corporation (FDIC) in 1933, which aimed to protect depositors and stabilize the banking system. Overall, the crash led to a more regulated banking environment to prevent future financial disasters.
What was the effect of the stock market crash?
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
What was a long term of the stock market crash?
Many banks closed.
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.
What do you think about Gordon Banks?
Gordon banks was a very good goalkeeper, he was also the heaviest goalkeeper. He lost a eye in a car crash.
What was a long term affect of the stock market crash?
Many banks were closed
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 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.
What Great Depression problem did the FDIC fix?
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.
