Notes
-Using credit in order to buy stock
-When it crashed people lost the money, but still owed the banks the money plus interest
-Banks were losing tons of money
-Using credit in order to buy stock
-When it crashed people lost the money, but still owed the banks the money plus interest
-Banks were losing tons of money
Summary
In the 1920s people were buying stocks with loans from the bank. This was great until the market started to fail and all of this imaginary money became real and a deficit to investors.
Quotes
The difference between playing the stock market and the horses is that one of the horses must win.
Joey Adams
Subjunctive Question
If there had been a limit on margin stock would the crash had been as severe?
In the 1920s people were buying stocks with loans from the bank. This was great until the market started to fail and all of this imaginary money became real and a deficit to investors.
Quotes
The difference between playing the stock market and the horses is that one of the horses must win.
Joey Adams
Subjunctive Question
If there had been a limit on margin stock would the crash had been as severe?