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Banks were giving mortgage loans to people with bad credit scores because they thought even if the people did not pay we could sell the homes which are getting more costly but the price dropped because people stopped being able to afford the homes so the banks and all the inverters ended up loosing money causing many banks to shut down causing a financial crash in America.

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companies started focasing on solid goods like cars and machinery which was a growing market but win stock ended up outgrowing demand the price fell so the companies that made the goods and the banks that put money into them paid greatly many were shut down and the dept from making the goods without much money from selling them meant banks lost millions of the consumers money so people could not get there money back causing another economic crash like the great depression.

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As a result of this crash and the fact that it was mostly caused by banks making risky mortgage loans the government made regulations that stated banks could not give money to a risky loan and it could not be as hidden but American people did loose a lot of money and so did other countries because we could not I've them money in trade when this was happening.

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Both the Depression and the Financial Crash caused people to lose their jobs, homes, and businesses.

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The 2008 Financial Crash lasted about a year while the 1930s Depression lasted around 10 years.

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The 2008 Financial crisis was triggered by a burst in the housing bubble due to a subprime mortgage crisis.

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The Great Depression was triggered by a stock market crash and bank failures.

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In the Great Depression, the price level fell by 22% and GDP fell by 31%. In the Great Recession, the price level rose slowly and GDP fell by <4%.

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Unemployment rates skyrocketed during the Depression and Financial crisis.

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Great depression excerpt from the Fireside chat

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Great depression excerpt from the Fireside chat

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FDR's Fireside Chat excerpt (primary source) | Great Depression

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Sharp increases in asset prices preceded in the Great Depression and Financial crisis.

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President Bush’s Speech to the Nation on the Economic Crisis (Published 2008)

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Following is a transcript of President Bush’s address to the nation Wednesday evening, as recorded by by CQ Transcriptions.

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The Fed’s response to the Great Depression slowed down economic activities in the US, while in 2008, the Fed provided a monetary stimulus to revive the economy.

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As a result of the great depression many people were left jobless and homeless and because of the bank making risky loans president Roosevelt was elected and banks were forced to not make risky loans any more but they ignored this rule and started making very risky loans again in 2008 causing another financial crash.

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The Depression and Recession of 2008 huge economic slumps for the U.S.

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Both periods show the poor financial conditions of the private sector, making the people more vulnerable once the crises unfolded.