The Cause Of The Great Depression
Beginning of paper
The enormous amount of unsecured consumer debt created by this speculation left the stock market essentially off-balance. Many investors, caught up in the race to make a killing, invested their life savings, mortgaged their homes, and cashed in safer investments such as treasury bonds and bank acc ....
Middle of paper
.... transactions. By the following Monday, the realization of what had happened began to sink in, and a full-blown panic ensued. Thousands of investors -- many of them ordinary working people, not serious "players" -- were financially ruined. By the end of the year, stock values had dropped by fifteen billion dollars.
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Word count: 209
Page count: 1 (approximately 250 words per page)
