notes
-Using credit in order to buy stock
-When it crashed people lost the money, but still owed the banks the money plus interest
-Banks were losing tons of money
-When it crashed people lost the money, but still owed the banks the money plus interest
-Banks were losing tons of money
video
summary
During the 1920's people were buying stocks using money that was loaned from banks. This was going very well until the market began to fail, and all of this money that actually technically did not exist, became debt.