Prevention Of Great Depression?

What do you think could have been done to prevent the Great Depression ever happening in the USA?

Prevention Of Great Depression?
Its cause was the governmental interference in banking. So the only way to have prevented it would have been to disband the cause, prior, the Federal Reserve System. The Fed during the 1920s expanded the amount of available credit extensively. Banks were wildly lending money to investors abroad, especially Europe particularly Germany, and domestically. When risky loans to these investors collapsed, the debtors couldn't pay, the buying spree for the stock market collapsed and then so did the economy. The stock market equity valuation sustains the credit worthiness of business and fuels the economy.


Hoover's and Roosevelt's bank regulations and eventual removal of gold as a depository basis, eliminated the objective means bankers have to gauge deposits and loans.


This inhibited new lending to business, especially new business.
Reply:equal rights
Reply:whats a great depression anyways..i hate history..lol
Reply:Strong proactive Presidential Leadership one of the qualities sadly lacking in Calvin Coolidge who truly believed that the Government should butt out of private industry. Coolidge pretty much predicted the Great Depression but instead of speaking up, he merely grumbled that the masses of people were foolish following the cutthroats %26amp; swindlers of Wall Street on the merry path to H^ll. America was in a giddy mood in the 1920 s and the crash was the result of over speculation. Bankers were literally borrowing money they knew did not exist to buystocks in the hope that they could 'cash' out before their swindles became public record.





Much like 9/11 several 'experts' spoke up but were ignored those same experts wre employed by FDR to draft legislation to prevent a repeat of 1929 and oddly enough they were mostly successful.





Peace....................................