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Levart [38]
3 years ago
10

Prior to the Great Depression there were more rich people in America than there were poor people

History
1 answer:
sergij07 [2.7K]3 years ago
3 0

Answer:

Yeah I think so

Explanation:

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Thousands of banks failed during the first few years of the Great Depression for a few reasons. Some of the banks recklessly inv
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The author included the information about 1920 and 1925 because that was the time the U.S economy expanded rapidly, The Roaring Twenties. Until 1925 there wasn’t legal requirement to separate the operations of commercial and investment banks, the investment banking was consisted of <em>JP Morgan & Co, Kuhn, Loeb & Co, Brown Brothers and Kindder, Peabody & Co</em>. Their funds could be used to fund the underwriting business of the investment baking side.

In 1929 everyone was putting their savings into stocks, not only the wealth part but the poor part too and because of that the stock market reached the peak in August 1929. But than the production declined causing unemployment and with that the stock prices were much higher than their actual value. The economy was struggling, the debt was rising and the banks had and excess of large loans that couldn’t be liquidated.

In the 1930s over 9,000 banks failed because people didn’t trusted them to put their saving. The Great Depression the official unemployment rate was 25% and the stock marked declined 75% since 1929. But in 1933 now with Rooselvet’s administration he took immediate action about the economic woes first announcing that all banks would close, Bank Holiday. The Congress would pass reform legislation and reopen the banks. In “<em>first 100 days</em>” Roosevelt’s administration stabilized the industrial and agricultural production and created jobs and also created the Federal Deposit Insurance Corporation (FDIC) to protect depositors’ accounts and the Securities and Exchange Commission (SEC) to regulate the stock market and prevent what happened in 1929.

The big change between the crises in the 20s and 30s were all about who was in charge, President Hebert Hoover didn’t take much lead about the crises but Roosevelt did.

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3 years ago
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Answer:technology

Explanation: The Bantu were known for the use of iron working technology

4 0
2 years ago
What theory promoted by Stephen Douglas would allow the people of the territory to allow or for bid slavery
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What theory promoted by Stephen Douglas would allow the people of the territory to allow or for bid slavery? The state of nature i think

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This statement was contained in a letter from Nikita Khrushchev to President Kennedy in 1962: "An act of aggression propelling h
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The correct answer is D. the US naval blockade around Cuba.
The US tried to overthrow Fidel Castro in Cuba, which was unsuccessful. After that, the Soviet Union struck a deal with Castro in order to place their missiles in Cuba. The US response to that was to block Cuba from all sides until the USSR missiles are returned to them.
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Which area of the colonies saw the most rapid growth from the cities ?
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The answer is Georgia.
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