After World War I, the US was in billions of dollars of debt. All prices were steeply inflated and job wages rapidly decreased in order to try to lower the debt. The stock market crashed on October 29, 1929, losing billions of dollars in mere hours (Mitchener). The drop was so extreme that it was named the “Great Crash” (“The Great Depression”). Everyone rushed to pull their stocks from the market, but the money had already vanished. 16 million stocks were sold in that single day (“The Great Depression). Banks began to go bankrupt due to the millions who had taken out their money.
After the “Great Crash”, the average life plummeted into poverty and starvation. The un-employment rate sky rocketed from 3% to 25% (“The Great Depression”). People spent little to nothing, to save their money, which caused almost all businesses to go …show more content…
This was an attempt to free Floyd's friend, Frank Nash, who'd been arrested for robbing a bank. “Pretty boy” and his colleague, Adam Richetti, came up with a ploy to help him escape (US Department of Justice). During their plan at a Kansas City train station, they were spotted by the police. As result of this, both of the men opened fire, killing three policemen and their friend, Frank Nash. After this incident, Floyd became Public Enemy Number one on the FBI's most wanted list; consequently, Floyd's long lasting legacy had already