Don’t Trust the Banks!

The clip is from the 1946 film “It’s a Wonderful Life.” This clip depicts what happened when Wall Street crashed. The banks took the depositors’ money and invested in stocks, and when the stocks crashed, the banks lost the money. The people found out and rushed to the bank to withdraw their money, however the banks did not have their money as they have lost it investing in stocks.. Such event is called a bank run which led to the collapse of many banks.

This entry was posted in KM24, October 19 Assignment and tagged , , . Bookmark the permalink.

One Response to Don’t Trust the Banks!

Comments are closed.