It all started on October 29, 1929. The stock market took an unusual twist. "It had been climbing steadily for years. It peaked then plummeted sending worry to bankers and brokers dealing in the stocks" (Nishi 11). It had been leading up to this moment for years, brokers were buying stocks on credit. If the stocks did well then there was never any problem. If the stock fell though, the bank would demand partial or full payment. Everyone …
showed first 75 words of 1040 total

showed last 75 words of 1040 total
…heavy spenders. There was a lot less buying on credit after that. "People didn't rush in and buy the first thing they saw anymore, they shopped around looking for the best deal" (Nardo 83). Americans weren't going to make the same mistakes, It took another World War to fully bring the country out of the depression. They weren't going to let the booming econmey falter afterwards. The SEC banned the buying of stockes on the margin,