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Documentary Paper - -Federal Reserve Board though stock...

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Documentary Paper -happened during the New Era Jazz age, before 1929 was a decade of prosperity and optimism. -infamous song “blue skies” -first time many were investing in stocks -for almost 8 years the stock kept rising -An arena of unbound equal opportunity- Grandson of Michael J Meehan. Michael Nesbitt. -Besides the Rockefeller oftheir time, people became rich during this time by buying stocks. Grand splendor in homes. -Herbert Hoover promised no poverty in this nation during the 1928 run. -Dawn of consumer revolution -new inventions like refrigerator, washing machine, underarm deodorant, consumer credit. -a lot of power in businessmen’s hands like William Durant. Gerneral Motors and Wall street -jesse Livermore, Durant, Mitchell (owner of bank), Evangeline adams (astrologer) -stock market wasn’t controlled and manipulation of stocks could happen where they would inflate the price to an unsuspecting public -Roger Bapsen second guessed the economy and was accused of being unpatriotic
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Unformatted text preview: -Federal Reserve Board though stock wasnt going to do so well since it was all founded on margin-There was a scare in the credit money in the bank during the early 1928 but Charles Mitchell stopped it from having by putting in 25 million dollars. -steel production delcinging, car sales dropped, people in debt during spring 1929-Summer in 1929, booming movies, radio, heat waves-September 3 rd 1929 altime high in stock-Babson break-five days before crash people were saying things were better than ever, Charles Mitchell-on black Thursday the crash was prevented by bankers who invested in stocks-October 29 th the crash.-William Durant tried to invest millions into the stock market in order to try to level the balance again. -people committed suidcide and jumped out of buildings-Charles Mitchell made a recovery. William Durant died without any assets but the clothes on his back. Jesse Livermore committed suicide....
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Documentary Paper - -Federal Reserve Board though stock...

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