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| Topic: |
History
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| Number of pages / Number of words: |
2 / 534 |
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goods in retaliation.
Official investigation of the Crash
In 1931, the Pecora Commission was established to study the causes of the crash. Based in part on the Commission's findings, the United States Congress passed the Glass-Steagall Act in 1933, which mandated a separation between commercial banks, whose activities involved the taking of deposits and making loans, and investment banks whose role was the underwriting, issuing, and distributing stocks, bonds, and other securities...
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However, the crash of Monday, October 19, 1987 was even more severe than the Crash of 1929. On Black Monday of 1987, the Dow Jones Industrial Average fell 22.6%.
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