The Great Crash 1929 essay is written by American historians that explore the causes of the great crash that occurred in the US. Some say it was a global financial crisis, others say it was the result of New York investors who refused to rework their loans and were forced to file bankruptcy.
No matter what the cause it did have profound consequences on the US and in particular on Essay Wall Street. The Crash really represented a new era for Wall Street, which lasted just over two years. The crash was so sudden and marked so deeply by the loss that it really marked the end of an era.
Great Crash 1929
During the period just before the crash, the bankers had built an incredible amount of financial resources as well as international holdings and they were doing just fine. When the banks started to fail the government took control of them. Although the government did try to support the financial institutions, the efforts fell flat when the housing market crashed and left the American economy in a severe recession. As it turned out, the consumers were the ones who really suffered the most due to the boom in the real estate sector. This is when the government really took action to save the economy.
The Great Crash was a major turning point in history. Although there are many opinions about the causes, no one can argue that it marked the point at which the world’s power structures can be truly known and trusted. The Crash is something that is still fresh in the memory of most Americans even today, and it remains the basis for much of the economic and political knowledge we possess today.