[Daveinyork]

“You mean allowing major banks to fail resulting in mass bank runs and deposits of ordinary citizens to be held WITHOUT government intervening is a good thing ?”

In 1920-21, there was a sharper, and steeper recession than the one in 1929. It was also much shorter, less than a year, because in 1920-21, the government did nothing, while from 1929 through the 1930’s, the government did something.

[SeekAndFind]

In 1920-21, there was a sharper, and steeper recession than the one in 1929. It was also much shorter, less than a year, because in 1920-21, the government did nothing, while from 1929 through the 1930’s, the government did something.

Some questions --- How big a banking collapse was there in 1920 ? If there were banking collapse then what happened to those poor depositors ?

Were derivatives invented then which threatened to infect the financial industries of the rest of the world ?