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Brought the "Roaring Twenties" to a roaring hault. Plunged many into a deep hole of debt.
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Herbert Hoover was President from 1929-1933. He was president when the Great Depression started.
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Banks begin to shut down. They were unable to meet it's obligations to it's depositors. People lost all of their money that they had invested in th bank.
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More than 3.2 million people are unemployed at this time. Before the stock market crashed, the unemployment was 1.5 million.
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FDR takes over for Hoover. He helped people regain faith in themselves, and their government.
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Separates commercial from investment banking and sets up the Federal Deposit Insurance Corporation to guarantee bank deposits.
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Major Dust storm came through and destroyed millions of acres of wheat. This, on top of the great depression put even more farmers into hard times.
