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Comparison Of The Stock Market Of 1929 And 2006

659 words - 3 pages

The stock market crash of 1929 played an important role in our nation's history. After the crash, United States turned to a great depression from its greatest period of prosperity. There are differences and similarities between the stock market of 1929 and the stock market of 2006.Unlike the stock market today, the government had no control over the market in 1929.§There were no laws to guide the market in 1929. As a result, the large investors ruled the market to increase their wealth.§Unethical activities, like insider trading, emerged in the stock market of 1929.§The government regulates stock market today. The Securities and Exchange Commission was established to punish people who violate it in today's market.The stock prices in 1929 were over-valued which were much higher than today.§There ...view middle of the document...

Then, they could use plans like monthly payment for the rest of the money. At that time, investors only needed to put down only 10% cash in order to buy stocks.§People are still buying stock on margin now, but it is strictly controlled.The banking system was worse in 1929 than now.§Money was available for more people at a lower interest rate from banks in 1929. After the banks were heavily invested in the stocks, The banks couldn't collect the loans that were made to the investors.§When the market started to crash, many banks in the United States had gone out of business.§There was a panic in the market. The investors wanted to sell their stocks for whatever price they could get, which led to the dropping of the overall value.The stock market crash of 1929 led to the depression, which lasted approximately 10 years.§Millions of Americans lost their jobs after the crash. Many rich people became poor in a single day. Most people faced many hardships during that period. The market began continuously downward until 1933.§In the stock market now, depression seems impossible to be happened. The economy can fix itself in a time of recession.Both in the stock market of 1929 and stock market of 2006, the Federal Reserve Board regulates the interest rate.§The Federal Reserve aggressively raised the interest rates on broker loans in 1929, which was considered to be a reason of the crash.§In today's stock market, the Federal Reserve System can also regulate the interest rate to make the economy grow.Work cited:"Brief History of U.S. Stock Market Crashes." Rydex Index Funds Trading. 3 October2006. < http://www.index-funds- trading.com/technical_analysis/stock_market_crach_1929.asp>."The Crash of 1929." 3 October 2006. Available."Wall Street Crash of 1929." Wikipedia, the Free Encyclopedia. 2 October 2006.< http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929>.

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