the Fed warns of excessive speculation
03/25/1929 AD crashed
A small crash results as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation.
Two days later, banker Charles E. Mitchell announced that his company, the National City Bank, would provide $25 million in credit to stop the market's slide.
Mitchell's move brought a temporary halt to the financial crisis, and call money declined from 20 to 8 percent.
Washington, D.C.
Lattitude: 38.9072° N
Longitude: 77.0369° W
Region: North America
Modern Day United States
Lattitude: 38.9072° N
Longitude: 77.0369° W
Region: North America
Modern Day United States
Subjects Who or What crashed?
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Federal Reserve (Federal Reserve System, the Fed) The central banking syst...
Objects To Whom or What was crashed?
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New York Stock Exchange (NYSE, The Big Board) American stock exchange ...
Events in 1929 MORE
