After World War I, the United States had an extensive economic expansion due to new technologies and enhanced production processes. The Stock Market benefited from the expanding economy. Eventually the Stock Market Crashed on 1929. Many banks tried to collect loans made to stock market investors since their holdings were worth nothing at all. When people found out that the banks’ assets contained uncollectable loans, depositors rushed to withdraw their savings, concerned about the security of their bank. Several thousand banks began to fail due to the panic. In result of the Stock Market Crash, many people lost their entire saving, many companies failed, and peoples’ faith in banks was destroyed. This event triggered the beginning of the Great Depression.