Quiz on Black Thursday - 1929

The first Corporate Bonds were introduced by the government to continue to raise money.

Technology was underdeveloped and unable to help the Stock Market grow.

The stock market crash in 1929 did not create the Great Depression, but it did create a "domino effect" that led to it.

The image below shows:

The second stock market fall the following Monday was much worse than the initial fall on "Black Thursday".

President Hoover (1929-1933) was fearful that the NYSE bubble might soon burst.

After Wall Street crashed, many banks closed, and even more people lost their savings.

The idea of "buy now, pay later" is partly to blame for the 1929 crisis.

US President Calvin Coolidge (1923-29) was in favor of government intervention in the NYSE.

President Roosevelt (1933-45) failed to restore confidence in the banking system.

Sir Winston Churchill invested in the Stock Market and lost a fortune.

After the stock market's initial fall, large investors injected 250 million dollars to stop a further fall.

Speculating in the NYSE became popular because the price of shares seemed to always go up.

Celebrities of the time, such as Charlie Chaplin warned people to be cautious if they were to invest in the NYSE.

"Buying stocks on margin" means that you were buying stocks with your own money, at your own risk.

The thousands of people gathered on Wall Street received quick information about what was happening in the NYSE.

By the 80s-90s, many of the financial regulations Roosevelt had introduced were seen as outdated and were dismantled.

Banker Paul Warburg gave a warning that collapse would be imminent if speculation in the NYSE continued.

The 1929 New York Stock Exchange crisis is described as:

The war "Liberty Bonds" introduced the general population to bond investment.