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Great Depression/Great Recession

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Submitted By helmdog14
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The Great Depression of 1929 compared to the Great Recession that Started in 2007
The Great Depression and The Great Recession were similar in some ways, but were different in several ways. There are many differences of opinion in regards to which one was worse, and who sustained the most damage. Some believe when Obama took over is his first year of office, he faced the worst economic situation in January 2009. Although, there are reports that Roosevelt faced a severe economic situation when he took office in February of 1933.
Franklin D. Roosevelt took office in February of 1933, in which the country was in the Great Depression that started in 1929. It has been said that the Depression lasted 10 years, and started on a per say, “Black Thursday.” This was when millions of dollars in stock sold in one day. This caused prices to fall 23%, and caused the stock market, “to crash.” This started the downward spiral, with businesses closing, people losing jobs, and then people losing their homes. Farmers lost their farms and unemployment was as high as 25%. People were unable to survive, but when Roosevelt took over he passed several bills to help the economy. The FED implemented the reserves a short time prior to the Depression starting. They followed as some say tight monetary policies. These policies caused the banks to not be able to lend due to the high interest rates. People were unable to afford the higher interest, and this caused the money supply (which keeps the economy flowing) to go under 30%. Roosevelt implemented a bail out, but this was more directed toward the people and not the businesses.
The government could have stepped in much sooner than they did for the depression. It took Roosevelt coming in and taking extreme measures to bring the country out very slowly. If the previous president and congress stepped in and thought to lower interest rates and...

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