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The Start
The great depression started in 1929 when the stock market crashed.This put Wall Street went into a panic. The crash of the stock market wiped out millions of investors.The stock market was one way people tried to get rich,but now it was going to make millions bankrupt.Many banks invested large portions of their clients money into the stock market,and these banks were forced to close when the stock market crashed.This made more people panic because their savings were gone.Once people saw this people all went to their banks to try and withdraw all of their money.This massive withdrawal of cash caused additional banks to close. Since there
was no way for a bank's clients to recover any of their savings once the bank had closed, those who didn't reach the bank in time also became bankrupt.This was just the beginning to the long and hard Great Depression.
The Start
The great depression started in 1929 when the stock market crashed.This put Wall Street went into a panic. The crash of the stock market wiped out millions of investors.The stock market was one way people tried to get rich,but now it was going to make millions bankrupt.Many banks invested large portions of their clients money into the stock market,and these banks were forced to close when the stock market crashed.This made more people panic because their savings were gone.Once people saw this people all went to their banks to try and withdraw all of their money.This massive withdrawal of cash caused additional banks to close. Since there
was no way for a bank's clients to recover any of their savings once the bank had closed, those who didn't reach the bank in time also became bankrupt.This was just the beginning to the long and hard Great Depression.