Quote:
Originally Posted by rmyers
Some people have argued very convincingly that our government's involvment during that time only pro-longed the depression. I happen to agree with them.
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At first the Gov let all the banks that where involved in the market fail once it crashed. The the wave hit when the banks started to ask for the all outstanding loans due to keep afloat (FDIC program was developed from this) when the rush to pull out any saving by the average Joe hit the bank said sorry don't have it then the cycle started all over again. I have studied and most of the common conception was it started to stabilize once the Gov stepped in, but like most thing you could say two sides to every story.