The Great Depression

The great depression happened on Oct, 29, 1929(Black Tuesday).  It occurred as a direct result of the stock market crash and bank failure.  Companies lied to investors by telling them that they were making large profits, but most were losing money hand-over-fist.  Once people had lost their money in the stock market they rushed to the banks in a last ditch effort to secure what little money they has left, but banks could not give them their money because they had already loaned it out to people who invested it in the stock market.  Because of this even people who saved their money and planed carefully lost everything.  Though this originated in the U.S. it quickly spread to other countries, effecting more than just Americans.