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
Let Wall Street Pay for the Restoration of Main Street Bill return on investment for individuals, the higher spreads and volatility in the market, and possible increased banking fees, which will need to be increased in order for banks to cover the higher risk associated with holding stocks, all of which will have detrimental effects on the "main street". Another bill, which remains a proposal, was tabled by DeFazio on February 13, 2010. It is called "H.R.1068 - Let Wall Street Pay for Wall Street's Bailout Act of 2009." Let Wall Street Pay for the Restoration of Main Street Bill The proposed bill Let Wall Street Pay for the Restoration of