The Stock Market Crash of 1929 – Part 2: Age of Illusion
Conflicted: A History Podcast
The Fed's Failure to Kill the Stock Market
In the aftermath of the coming crash, a heavy portion of the blame was placed at the fed's doorstep. Many believed that if they had been more decisive, more forward thinking, all this could have been avoided. The reality, of course, is a little more nuanced than that. After the fed had so publicly bit slapped by sunshine charley, nothing seemed capable of putting a dint in the upward trajectory of the stock market. It was as much a problem of psychology than anything else. As scott nations writes, investors would learn the wrong lesson.
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