History, 02.07.2020 20:01 claytonhopkins

How did many banks fail consumers in the stock market crash of 1929? Banks had invested customer savings in the stock market, losing depositors’ money in the crash. Banks refused to pass on profits made in the stock market to depositors, keeping the money. Banks refused to issue loans to help investors pay for their financial losses in the crash. Banks only paid a small portion of insurance owed to depositors for their financial losses.

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How did many banks fail consumers in the stock market crash of 1929? Banks had invested customer sav...

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