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The not so Greats about the Great Depression and Recession

comparison of the Great Depression and the Great Recession
by

Jose Rodriguez

on 16 April 2010

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Transcript of The not so Greats about the Great Depression and Recession

Causes of the Great Depression The Stock Market Crash on October 29, 1929 the stock market crashed and many people lost millions of dollars. People tried to invest on the market by credit and destablized the stock market, which ultimately caused it to crash Causes of the Great Recession Bank Runs many people started to run to the banks and pull all their money out be they shut down During the Great Depression, 50% or 9,000 banks failed and shut down to benefit the owner 's wallet people blame Alan Greenspan for keeping low interests rates so they can get the houses they want, even though they could not afford them. the real estate bubble inflated, spurring a frenzy of irresponsible borrowing. Similarities in both Crises were both caused by people buying and investing on credit. Leaders of the Great Recession Leaders of the Great Depression Herbert Hoover Roosevelt Obama stimulus plan boulder dam federal home loan act relief bank act social security act welfare The Great Depression and The Great Recession lead to formation of the Federal housing Administration insured loans by approved financial institutions
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