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4 Cards in this Set
- Front
- Back
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Speculation by the banks |
- Banks only kept 8% of money deposited - Banks would heavily invest and fund projects expecting to make back the money |
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Hire Purchase & Loans |
- Throughout the 1920s many people were borrowing more frequently due to how easy it was |
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1927 Federal Reserve Board |
- Kept interest rates at 3% |
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Banks closed in 1929 |
- 659 banks were suspended after the crash |
