Wall Street Crash of 1929 one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying. The failure set off a worldwide run on US gold deposits (i.e. the dollar), and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also, the uptick rule, which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down in a bear raid. The stock
Wall Street investors take on a role that has already been established for them. It is both appropriate and fitting to call Wall Street a culture because of the system of values and practices it holds onto. Moreover, anthropological insight can help improve the general public's understanding of Wall Street and in turn allow the public to appreciate the culture of Wall Street which is both logical and sensible to the workers themselves. Professor Katarina Sjöberg argues in "The Wall Street Culture" that within the media negative images of Wall Street are painted in terms of the district's market falls, money losses