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Nimfa-mama [501]
2 years ago
13

Help i need to know who?

History
1 answer:
garri49 [273]2 years ago
3 0

The President you are looking for is Franklin Delano Roosevelt. Hope this helps :)

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People sold off bank stocks, making them worthless.

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The Stock Market Crash of 1929 caused a series of bank runs which destroyed the people's trust in the banking system. It began as a rumor that the banks were unable to pay cash which then transcended to panic among customers causing them to withdraw their funds en masse. They also spent little thus causing a stagnant economy. People withdrew their cash from the banks thus causing the solvency of many banks.

Banks in turn liquidated their loans and sold their assets at very low costs.

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