We watched some more of the video.. which was incredibly boring.. just sayin.
The Crash of 1929
Video Questions
1. What is pooling?
Men with a lot of money buying stock, inflating the price, and then selling it again
2. What was the Federal Reserve Board's take on the booming stock market?
They saw it as reckless and dangerous. They thought down on it because it was based on borrowed money.
3. What did the Federal Reserve Board do to prevent the crash?
They didn't do anything at first. They raise interests rates eventually to 20%.
4. What did Charlie Mitchell and several other Wall Street tycoons try to do to stop the crash?
He announced that the National Bank would provide 25 million dollars for credit.
5. What were the causes of the stock market crash based on the video?
The government never regulated the stock market and stayed out of business so people were sneaky. The stocks ended up way more inflated than the actual price of the company value.
Comments