GREAT DEPRESSION BANK RUN 1931 POSTER

In June 1931, savers and investors by the score, from all walks of life, congregate outside American Union Bank speculating whether it will open ... and will they get their life savings out. Unfortunately, many banks went under and people lost their money. Nothing put more fear in the public than scenes like this of closed, struggling banks. After the 1929 crash during the first 10 months of 1930, 744 banks failed - 10 times as many. In all, 9,000 banks failed during the decade of the 30s. It's estimated that 4,000 banks failed during the one year of 1933 alone. By 1933, depositors saw $140 billion disappear through bank failures. The aggregate pain was so bad for depositors and investors that it changed their view of money and banks and the stock market for decades to come. The question is ... will it ever happen again? ... could history repeat itself?