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: The expansion of trade among West Asia, India and Southeast Asia helped the spread of the religion as Muslim traders brought Islam to the region. Gujarati Muslims played a pivotal role in establishing Islam in Southeast Asia.
Explanation:
Answer: D. He adopted a position of neutrality
Explanation: George Washington took over treaty negotiations with the Creek Nation of First Nations and also took a line of neutrality in foreign affairs since he knew his country was militarily rather weak since it was a fledgling country so preferred to not make war on foreign powers.
Answer:
B. Bushido Code
Explanation:
Applied mainly in Family Clans during the says of Feudal Japan. Samurai had upheld this code throughout its creation, seeing surrender worse than death. When the country started to modernize with its army and cities during the Meiji Era, Bushido was introduced throughout the populace. It had been incorporated mainly in the Imperial Japanese Army then among civilians who used this to believe surrender was a sign of dishonor and throughout trying times during the late stages of WW2 the military council had shown little signs to surrender.
