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 U.S. gold market in 1869) as well as modern figures such as Bernard Madoff who "bilked billions from investors". In addition, images of Wall Street and its figures have loomed large. The 1987 Oliver Stone film "Wall Street" created the iconic figure of Gordon Gekko who used the phrase "greed is good", which caught on in the cultural parlance. Stone commented in 2009 how the movie had had an unexpected cultural influence, not causing them to turn away from corporate greed, but causing many young people to choose Wall Street careers because of that movie. A reporter repeated other lines