How Did Herbert Hoover Do During The Great Depression

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THE GREAT DEPRESSION 1929 was the start of the deepest and darkest time for the United States Stock Market and the people of the United States. The Market crash, the loss of American jobs and homes, lead to one of the hardest downfalls in American history. Along with billions of dollars lost due to bad stock trading, over extending on personal credit and the spending of money that had yet to be produced. The American people never stood a chance and in a matter of 10 days the lives of almost everyone changed. In 1928 Herbert Hoover was elected as president. Competition with Great Britain caused speculators to dump American stock in the late summer. By late October, Americans started to pull their money out of the stock market. After a continuous decline over a 10 day period the stock market…show more content…
The Great depression sent it affects all through the world. Though millions of Americans lost their jobs and homes. Soon “Hoovervilles” started to take over all over the country which were shacks of improvised housing for people who lost everything. When F.D.R came into office in 1932 he helped Americans and America start to recover with the passing of many laws and regulations . One change was the creating of the FDIC, which insured the peoples savings stayed in the bank. Also passing emergency banking relief act, all within the first 100 hundred days of being in office. The final step to kicking the great depression out was WWII, which really boosted American industries in 1939. Eighty-eighty years after black tuesday the U.S. Stock market is a well oiled machine now. Hopefully America has learned from the mistakes of the past and are ready to handle any crisis that comes our way. Luckily the New York stock exchange and the NASDAQ rank #1 and 2 in the
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