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.
Answer:
In some places, the slave trade increased the power of the African monarchy and led to economic strength. However, in places where there was competition between slave traders, the slave trade undermined the African monarchy, led to constant chaos/war, destroyed political unity, and disrupted African society. The slave trade also impacted demographics of Africa. Millions of people were lost to the slave trade. Also, in certain parts of African, certain genders were taken as slaves more than others. This disrupted marriage and the sexual distribution of labor in Africa.
During the development of human history in sub-Saharan Africa, we had the rising and falling of different kingdoms in different regions. In this essay, I will talk about 3 different kingdoms, which are great Zimbabwe, the Mali empire, and the Songhai empire. Those empires ruled different portions of the African continent and had strong importance in the evolution of modern Africa.
The first kingdom is known as the great Zimbabwe that ruled over a large part of modern Botswana, Zimbabwe, and Mozambique. It was especially wealthy in cows and precious metals and stood astride a trade route that connected the region’s gold fields with ports on the Indian Ocean coast. The fortification city at Great Zimbabwe was mysteriously abandoned sometime in the 15th century after the state went into decay, but in its bloom, it was home to an estimated 20,000 people.
The foundation of the Mali Empire dates back to the 1200s. The Empire squeezed its government over a large portion of West Africa and grew rich on trade. Its most notable cities were Djenné and Timbuktu. The Mali Empire finally dismantled in the 16th century, but at its peak, it was one of the treasures of the African continent and was known the world over for its wealth and luxury.
The third empire called the Songhai empire was formed in the 15th century from some of the former regions of the Mali Empire, and the West Africa kingdom. In size, it was larger than Western Europe and comprised parts of a dozen modern-day African nations. Its success was due to strong trade systems and an advanced bureaucratic system that separated its vast holdings into distinct provinces, each controlled by its own governor. It reached its apogee in the early 16th century under the rule of the religious King Muhammad I Askia, who conquered new lands, formed an alliance with Egyptians Caliphs. It later decayed in the late 1500s after a time of civil war and inner strife left it open to an intrusion by the Sultan of Morocco.
the answer to 6 I believe is jury I looked it up
The answer for this question would be: Taft-Hartley Act.
