Don't confuse TBP with facts...
No, they were put in place in 1930. There had been a “crash” late in ‘29, but like other depressions, it hadn’t really taken hold until the government decided to “do something.”
The reason that that happened is that Hoover was a progressive (FDR even more so.) Coolidge had been VP for the depression of the early ‘20s. The government stood by idly and did nothing, and it corrected itself about a year to a year and a half in.
Then the Coolidge-Mellon tax cuts (and spending cuts) turned the recovery from it into a boom — until the progressive Hoover got into office.