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serg [7]
3 years ago
15

HELPPPP EDGE 2020

History
1 answer:
AVprozaik [17]3 years ago
8 0

Answer:

D. Both the rich and poor have the ability to serve

Explanation:

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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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