Wall Street Crash Flashcards
1
Q
What happened on the 24th October 1929
A
13 million shares were sold in one day and prices fell massively
2
Q
Which day saw 13 million shares sold
A
24th October 1929
3
Q
What happened to the Vanderbilt family
A
They lost $40million
4
Q
How did people become homeless
A
They got their homes repossessed to pay back the loans they could no longer afford to pay back
5
Q
How many companies went bankrupt by 1932
A
100,000
6
Q
How many were unemployed by 1932
A
12million
7
Q
What were temporary shelters known as
A
Hoovervilles
8
Q
What happened during 1929
A
The affects of over production meant business’ began to cut back on production
