# data[].attributes.body
Transition to Industrialism

An economy that was once based on agriculture began to rely on machinery and new technologies. This development skyrocketed production and efficiency.

# data[].attributes.body
First bank of the United States

The bank was created to manage a number of financial territories in the United States, from tax revenue to government funding.

# data[].attributes.body
Second bank of the United States

This bank was created to issue money. That includes deposits/withdrawals, issuing debt, and managing banknotes.

# data[].attributes.body
Further transition to Industrialism

The rise of industrialism lead to an increased demand for new businesses. Bank cooperation was crucial in order to handle the rise of entrepreneurship.

# data[].attributes.body
Panic when the Stock Market fell

Americans went into a state of panic when the Stock Market began to fall, resulting in the formation of the Federal Reserve System.

# data[].attributes.body
Federal Reserve System

The Federal Reserve System regulates banking companies, manages monetary policies, and monitors financial risks.

# data[].attributes.body
US borrowed money during WWI

The US Government offered for citizens to purchase stocks to help pay for military costs. They saw this as a morale boost.

# data[].attributes.body
First credit services

The system of Installment Credit was established, allowing consumers to essentially "buy now, pay later." It was primarily used for houses, cars, and other major expenses.

# data[].attributes.body
The Stock Market Crash

In spite of the rapid decline and recovery cycle of the stock market, banks continued to recklessly loan money to the public. It was a big heap of overproduction, overconsumption, and overflowing interest rates.

# data[].attributes.body
The Great Depression

Factories shut down, homes and farms were lost, and mills and mines were abandoned. Less production meant higher prices, but nobody had money to pay for their needs.

# data[].attributes.body
The Great Prosperity

Federal Reserve policies allowed for the increased production of money, rebooting circulation throughout the economy. Prices were high- and getting higher- but this meant that profit was increasing, and paychecks along with it.

# data[].attributes.body
Consumer Credit Protection Legislation

Legislation passed to protect privacy of personal information accessed by banks, and promote accuracy and fairness in the banking industry.

# data[].attributes.body
Stock Market gains

After the Taxpayer Relief Act was passed in 1997, consumers were more willing to invest in businesses.

# data[].attributes.body
September 11, 2001: Terrorist attack on the World Trade Center

US markets closed for 4 days following the attack. Investors stopped taking risks and markets stopped functioning. Stocks rapidly and largely declined.

# data[].attributes.body
Economic Recession

Economies were impacted all over the world as international trade declined and several US Banks and businesses failed. Unemployment was sky high, and housing markets suffered amidst frequent evictions and foreclosures.