Bank Closures & Banking Industry Collapse Alaya
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Bank Closures & Banking Industry Collapse Alaya
Banks were closed because of the businesses were closing and people were losing jobs.
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Primary Document #3

Primary Document #3 | Bank Closures & Banking Industry Collapse Alaya | Scoop.it
Laya Bee's insight:

In this picture It shows viewers how and what happened during the Great Depression. Banks were closed and couldnt give the people their money that was in their savings. Many workers kept their jobs but faced wage and hour cuts. Unemployment rates rose from 3.7% to as high as 24.9%. People lost homes, loss of upward economic mobility. 

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Primary Document #1

Primary Document #1 | Bank Closures & Banking Industry Collapse Alaya | Scoop.it
Laya Bee's insight:

This mother looks poor and also dirty. Her kids look hungry and dying from starvation. I also believe they must of lost their home and became homeless because of the bank failures and they lost all of thier money from their savings. 

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Today Website #1

Today Website #1 | Bank Closures & Banking Industry Collapse Alaya | Scoop.it
The collapse of Lehman Brothers four years ago today was the Pearl Harbor moment of a financial crisis that, over the next few months, threatened to bring down the entire U.S. financial system.
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Historical Website #2

Great Depression was a worldwide business slump of the 1930's. It ranked as the worst and longest period of high unemployment and low business activity in modern times.
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10 Vocabulary Words

Vocab 

Laya Bee's insight:

1.Great Depression- The economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s.

*Banks were foreclosed during the Great Depression.

 

2.Hobos- A homeless person; a tramp or vagrant, a migrant worker. 

*Once banks were closed people became homeless and hobos. 

 

3.Unemployment- The state of being unemployed, the number or proportion of unemployed. 

*After getting fired or retiring, people sign up for unemployment to continue to receive money from the state.

 

4.Economy/ies- The wealth and resources of a country or region, esp. in terms of the production and consumption of goods and services.

*The economy is in dept and banks are being foreclosed.  

 

5.Mobility- The ability to move between different levels in society or employment.

*Banks and citizens didnt have mobility in society because of the bankruptcy.

 

6.Capitalistic- A wealthy person who uses money to invest in trade and

industry for profit in accordance with the principles of capitalism

*Companies are capitalistic when they trade with other companies and people over seas. 

 

7.Savings- An economy of or reduction in money, time, or another resource.

*Citizens we too late to withdraw money from their savings accounts. 

 

8.Wage- A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, esp. to a manual or unskilled worker.

*Minimum wage in the United States is $7.25.

 

9.Bankruptcy- The state of being completely lacking in a particular quality or value.

*Bankruptcy only occured in certain states and to certain banks around the world. 

 

10.Finanical- The management of large amounts of money, esp. by governments or large companies.

*Banks and citizens we having financial problems with thier money. 

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Primary Document #2

Primary Document #2 | Bank Closures & Banking Industry Collapse Alaya | Scoop.it
Laya Bee's insight:

The men in this picture is trying their best to get their life savings out of the bank before the failure erupts. People didnt want to lose thier because if they did, they would be homeless and become hobos. Homes, wages, and hours were cut and people lost so much because of the bank failures. People were at poor stages or not at all. To save money parents let go of their older children to survive and wanted them to look and get employed by their lonesome. 

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Historical Website #3

Historical Website #3 | Bank Closures & Banking Industry Collapse Alaya | Scoop.it
The U.S. and other capitalistic economies. Stagnation in the U.S. and Britain. Recovery in Sweden. Keynes,
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