Great Depression Question

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KarishBHR

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Ive been learning about the subject, and cant understand one thing:

Why the federal reserve was unable to prevent the run on the banks?

Help me out GAF
 
Check Wikipedia

Short version: The Fed was new, it didn't know what the fuck, and it figured it'd self-correct.
 
S.S.R.I. medication did not exist back then, and all peeps had to run on was fear and tobacco.

















also, F.D.I.C. only insures up to $100,000.oo so put over that amount in several banks just to be safe.
 
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