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On "Black Tuesday," October 1929, the Stock Market crashed. Following the crash, banks across the nation had to deal with their own debts and worked to protect their assets. To do this, the banks demanded payment for the loans they had made increasingly available to individual investors, over the past decade. Most people could not afford to pay their debts, so their stocks were sold and their life savings wiped out. This made it so that no one would be indebted to their bank.

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