Great Depression and the Current Term Paper

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Second, margin accounts are now regulated. There are margin call limits nowadays which prevent individuals and institutions from assuming too much risk in the stock market. Banks also limit margin borrowing. A person has to fill out a special application in order to open a margin account and demonstrate knowledge of stock trading before such an account is opened. Thirdly, banks that are big are not permitted to go out of business like they were in the Great Depression. During the Great Depression, when financial institutions failed they had a ripple effect on all facets of the economy from farming to automobile production. During the current recession, federal government action saved most of the biggest banks from collapse by supporting them up with emergency financing. Lastly, the stock market is not allowed to plummet too much in a given period of time. Trading halts or breaks are imposed in times of panic selling like right after September 11, 2001. Additionally breaks are placed on short-selling like how the SEC briefly barred short-selling on over 795 financial stocks on September 19th, 2008.

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As a result of these changes in policy the current recession will more likely not take the form or have such a significant impact as the Great Depression.

Unemployment data for the 1930s are from Historical Statistics of the United States: Colonial Times to 1970 (Washington, D.C.: Government Printing Office, 1975), 135.

Temin, Peter (1991). Lessons from the Great Depression. MIT Press.

Krugman, Paul (2009). The Return of Depression Economics and the Crisis of 2008 W.W. Norton & Company.

Fabozzi,….....

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