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Lesson 1.05What effects did the Great Depression have on the credit industry?The effects of the Great Depression was that around that time since the stock market fail a lot of people were at a terrible financial state . It was hard for people to get a job at that time. There were laws against credit because of the loan sharks so the government relaxed the credit lending laws so that the banks can stay profitable. The Great Depression introduced the idea of lending since everyone needed money .So it made it easier for people to ask for money at the time.What effects did the Post War era have on consumer borrowing?The effects was after the Great Depression when the credit lending laws were relaxed it left a leeway for the credit industry to begin. After the war a lot things financially was flourishing for the U.S .Even in the midst of prosperity Americans thought they learned to borrow, because they thought that it will help them in the future financially and it did. So financial institutions lend