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Essay / Research Paper Abstract
This 6 page paper examines the 1929 crash and how regulation changed after that. The effect that the crash had on how people do business is examined as well as how things have manifested years after the crash. The 1987 crash is discussed as well. Bibliography lists 6 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA41329.rtf
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Unformatted sample text from the term paper:
Halloween parties. It was a time when people were writing out their Christmas lists. Even those who were pessimistic about the market were probably getting into a holiday mood before
the crash. Then boom. On October 19, 1987 the market went into a free fall. It was completely unexpected, at least to some. They named it Black Monday. Analysts had
different takes on the matter. Michael Metz claimed that we were out of the woods during the weeks that followed (Koepp, 1987). Jay Golinger was more cautious, saying that there
was no need to go back into a house on fire (1987). Yoshitaka Yamashita, a Japanese executive, said that the worst was over (1987). While the future looked bright to
the analysts shortly after the disaster, Donald Straszheim, a Merrill Lynch executive, estimated that American households lost about six years of savings (1987). Time would tell a story that was
more severe than the analysts predicted, but Americans lived to fight another day and in the 1990s, for the most part, the market was bullish. Also, as bad as the
1987 crash was, the 1929 one was worse. Not many people alive today were old enough to remember the devastation, but they do remember stories about it. It was the
one where people lost everything. Some committed suicide. Some lived in despair. Others made do with what they had left. Without AFDC and other government safety nets, people felt as
if they could no longer live a normal life. On Black Thursday, or October 24, 1929, the stock market reportedly fell 34 points which was equivalent to a 9% (Bierman,
1998, p.1) drop for the day. After that, there was a selling panic (1998). The 1929 crash occurred a long time ago. Since that time, after people got
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