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 terms. One needs to understand that they have a value system which is not only logical to them, but also reflective of North America's values of individual power, prestige, and social practices based on individualism. For example, throughout the 1940s and into the 1950s Manhattan was a "white-only" community. Within that time period, there was a lot of racial segregation. The values of America and the social practices were not like they are today, so African Americans were not within the Wall Street community. Many people associated with Wall Street have become famous; although in most cases their reputations are