Crash of 1929 Video Review

Good Essays
Firstly, the video described that credit and buying on the margin was common, which in itself is a practice that, when unchecked, can lead to a major downfall. However, this is not entirely concrete evidence. In March 1929, the first major dip in the market occurred when there was a minor panic regarding stocks bought on the margin. The fear started on March 22 and on March 25 many investors sold. On March 26, everyone started selling and the market dipped a bit as many people fell into debt due to businesses failing. However, the market then soared due to people buying the stocks at a now cheaper price. Stocks continued to rise throughout the summer, peaking on September 1. Roger Babson insisted that the market would crash, and “the Babson break” occurred, which was when the market crashed and people thought it would just go right back up. On October 21, 1929, many businessmen gathered at a celebration hosted by Henry Ford. Three days later, on October 24, the stock market crashed dramatically, but not nearly as badly as it would five days later. Some rich investors managed to keep ...
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