1929: The Great Crash

00:25:32 Some professional speculators sensed that the market was overheating.

00:27:03 But out of nowhere, a sharp fall in automobile stocks provoked a frantic last hour's trading.

00:28:58 invited me to enter the gallery of the Stock Exchange.

00:30:18 and then there was an eddy in the middle of it

00:31:36 back to the trading floor of the Stock Exchange.

00:32:54 say anything that would cause, er, that would erode peoples' confidence in the Stock Market.

00:34:19 four hours for the ticker to print all of the stock trades after the market had closed.

00:36:01 So the brokerage's that had made all these loans got very concerned that the loans wouldn't be paid back.

00:37:25 for two cents and then we would know what happened and that's how we found out about the Crash.

00:39:00 and he and Andrew Mellon the Secretary of the Treasury

00:40:17 At least, I say to myself, I lost all in the greatest panic in history.

00:41:32 and don't play the market.

00:42:54 Not everyone coped with their losses.

00:44:16 small town banks that lacked the size or reputation to convince customers that their money was safe.

00:45:58 Some of this is going to sound sort of familiar.

00:47:26 And my father said

00:48:44 stock market crash and all this poverty was, of course, put in his lap.

00:50:00 My great-grandfather probably never really recovered

00:51:36 Seen as a saviour, Roosevelt promised a New Deal for the American people

00:53:12 The hearings uncovered evidence of a list that offered preferential

00:54:28 the Great Depression would last until the outbreak of World War II.

00:55:51 Economic nationalism led to trade wars, and later...

00:57:23 What I do hope and I do think, is that the government has

193:02:01 Republican rule came to an end.