Mr. Theisenamarachi Marshall. What Was The Worst Decision

Mr. Theisen Amarachi Marshall What was the worst decision Herbert Hoover made that negatively affected the Great Depression? Language and Literature May 4, 2017 Stocks. I read about them every day in the car to my dad because he buys the Wall Street Journal. The newspaper has some interesting topics and it’s not a chore to indulge in as sometimes other newspapers are. Currently, the DOW Jones, a huge stock, is almost 21,047 points. That s very close to the current all time high. Eighty - five years ago, it was nothing like this. In the month of June in 1932, the DOW Jones stock fell to an all time low of 770.26 points. This was part of the aftermath of the Great Depression. Herbert Hoover, the president during the the†¦show more content†¦An investor would contribute a small percentage of the amount of money they would need to buy a stock. A stockbroker or a bank would loan a balance on almost no guarantee they would get their money as needed. This posed a problem. Later, when companies needed it the most, the companies realize that people were still not paying off loans as quickly as needed. The banks and stock brokers start ed to lose large sums of money. They were desperately needing more and more money from people who didn’t have what they needed to begin with. The dismal cycle lead to the stock market crash of 1929. From May 1929 to May 1933 Herbert Hoover served one term as the 31st president of the United States. Hoover was a member of the Republican political party. In his election, he won against Al Smith with 444 of the electoral college votes. A few months into his presidency, the Stock Market Crash occurred. Naturally, the United States as a whole started to look to the president and the government agencies for direction. There were many ideas that Hoover had that didn’t provide relief to the civilians during the Great Depression, they actually worsened the crisis. At some points, he rejected bills that would remedy some of the country s problems, because he believed that the government should not play a huge part in the bettering of the country. This belief was called laissez- faire. (Herbert Hoover) When the stock market crashed, many people were affected. Anyone who had money in the