- Thread starter
- #41
What are you talking about? The great depression was not caused by the little people at all, LOL.Mass Failures during the great depression before regulation? OH LORD, WHO WOULD'VE THOUGHT?Yeah, which means nothing when millions of lives were ruined and the fat hogs on wall street/the bankers who caused the crisis rolled in cash, and you're using that same number..The true cost of the bank bailout Need to Know PBS
Yeah, sure, keep believing that.
But it turns out that that $700 billion is just a small part of a much larger pool of money that has gone into propping up our nation’s financial system. And most of that taxpayer money hasn’t had much public scrutiny at all.
According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy.
And it worked. And it was repaid. And the government made 10s of billions in profit.
"According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy."
Yeah, which means nothing when millions of lives were ruined
If the banks had failed or if they hadn't repaid the loans, that wouldn't have made things better.
Thousands of banks failed during the Great Depression. It made things worse. Much worse.
You're simply blinded by your hatred for bankers.
Plus, you're ignorant.
In the 1920s, Nebraska and the nation as a whole had a lot of banks. At the beginning of the 20s, Nebraska had 1.3 million people and there was one bank for every 1,000 people. Every small town had a bank or two struggling to take in deposits and loan out money to farmers and businesses.
As the economic depression deepened in the early 30s, and as farmers had less and less money to spend in town, banks began to fail at alarming rates. During the 20s, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed – 10 times as many. In all, 9,000 banks failed during the decade of the 30s. It's estimated that 4,000 banks failed during the one year of 1933 alone. By 1933, depositors saw $140 billion disappear through bank failures.
Bank Failures during the 1930s Great Depression
Holy crap! Depositors lost $140 billion because their banks failed.
Mass Failures during the great depression
Yes. And it didn't help the little people.
Not even the socialist morons.