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:
What is the Declaration of Independence accusing King George III of doing? The full statement is: "The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States.
Explanation:
Answer:
OC, Maintaining Global Peace
Explanation:
United Nations organization was created to prevent future world wars.
<span>The most immediate result of Gutenberg's invention of the printing press was a vast increase in the number of books produced and distributed. This was an information revolution which had vast consequences, but its impact on science and religion were among the most profound and immediate. With regard to science, the movable type allowed systematic scientific knowledge could be more widely and cheaply distritubed, laying to groundwork for increasingly rapid advances. In religion, the innovation spurred the development of literacy among lay people who could now have personal access to the bible and other religious publications, a development which was one of the factors in the develpment of Protestantism.</span>
Answer:
Tundra
Explanation:
1. I just did this quiz and the answer was Tundra
2. the freezing and frigid tundra is found way up north in parts of Alaska and Canada. That means you would not pass it traveling from Georgia to California
