iankh
It's never done till it's overdone
- Joined
- Jan 8, 2005
- Messages
- 7,181
So when do you think this one will end?
I only wrote about what happened in 1933, the crash happened in 1929. A major problem was the lack of anything done at that time to get things back in control. A situation that lasted from 1929 to 1933. Hoover was of the mind that it was the the place of the government to intervene, and relief should be charity and private based.
The spooky part is that the financial collapsed in 1929 was due to a lack controls. Then, very tight financial controls started to be slapped back on, to rein in the financial markets.
Many of the controls, that were a reaction to the crash were removed or relaxed the the past 20 years or so.