which was a direct result of bank failures in the 1920s and 1930s?\nunemployment rose.\ncompanies slowed…
which was a direct result of bank failures in the 1920s and 1930s?\nunemployment rose.\ncompanies slowed production.\ndepositors lost their savings.\npeople could not pay back their loans.
Answer
Brief Explanations:
When banks failed in the 1920s and 1930s, since there was no extensive deposit - insurance at that time, depositors who had their money in the failed banks lost their savings directly. Unemployment, production slow - down, and loan repayment issues were more indirect consequences related to the overall economic impact.
Answer:
Depositors lost their savings.