"Domino Theory" was based on the idea that countries on the brink of communism were waiting to fall to communism one after the other, since it was thought that they would fall in a way that resembled dominoes knocking each other over one by one.
Banks failed—between a third and half of all U.S. financial institutions collapsed, wiping out the lifetime savings of millions of Americans. The familiar narrative of the Great Depression places banks among the institutions that suffered fallout from the crisis.
