9min chapter

History That Doesn't Suck cover image

170: The Crash of 1929 & Meeting President Herbert Hoover

History That Doesn't Suck

CHAPTER

The Prelude to Black Tuesday

This chapter explores the critical interactions surrounding the stock valuation of the Edison Electric Illuminating Company and the skepticism met by its proposal amid looming market speculation. It highlights the drastic fluctuations in the stock market leading up to the infamous crash of 1929, illustrating the stark contrast between optimistic political statements and the grim reality faced by investors. Through the personal story of George, a Greek immigrant and war veteran drawn into the lure of quick wealth, the chapter poignantly depicts the psychological toll and tragic consequences of the financial disaster.

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