How did bank failures contribute to the Great Depression?
How did bank failures contribute to the Great Depression? Banks Extended Too Much Credit New businesses—making new products like automobiles, radios and refrigerators—borrowed to support non-stop expansion in output. They kept borrowing and spending even as business inventories soared (300 percent between 1928 and 1929 alone) and Americans’ wages stagnated. How did bank failures contribute … Continue reading How did bank failures contribute to the Great Depression?
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