The Great Depression and FDR's Response

Your bank gambling away your life savings is the real reason the Great Depression hit so different.

Everyone in the 20s was buying stocks on credit, treating the market like a casino until

Black Tuesday wiped out billions instantly. President Hoover basically told homeless people to just work

harder, which is why those shanty towns were roasted as Hoovervilles. It took FDR stepping

in with the New Deal to finally stop the bleeding. He closed the banks, created the FDIC

so your money doesn't just disappear, and literally invented the modern safety net so you don't

starve when the economy crashes.