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 and deceitful gains. However, this is not what Wall Street investors are bothered by. Instead, it is the public's words and opinions which they feel mold their image. Sjöberg notes that in the American culture, money making is of utmost importance and knowing how to make money is considered to be respectable. Therefore, Wall Street investors prioritize their work as well as strive to climb the corporate ladder. They also feel obligated to maintain the image the public creates, because it strengthens their position as a Wall Street employee. They value seeing themselves as experts in their field, especially since