The 1929 Stock Market Crash
“We’d like to thank you, Herbert Hoover/ For really showing us the way/ You dirty rat, you Bureaucrat, you/ Made us what we are today (www.stlyrics.com).” These lyrics from the musical Annie place the blame for the 1929 Stock Market Crash solely on the then former president Herbert Hoover. The truth of the matter is that placing the blame for the Stock Market Crash on Mr. Hoover is very unfair. Herbert Hoover was only one of many causes of the Stock Market Crash. It is easy to try to place the blame for one of the most destructive events in the history of the American economy on one person, but the real causes lie in the rampant speculation, the lack of regulation of the stock market, and the questionable ethics of many of the companies and brokers that were involved in the market. Although the 1929 Stock Market Crash is generally blamed on a few scapegoats, it was actually caused by a multitude of factors, which makes finding a scapegoat......
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Approximate Word Count: 1939
Approximate Pages: 8 (260 words per double-spaced page) |