Banks
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In June in 1929 there were 25,300 banks in the U.S. Out of these thouands were mismanaged partly due to a lack of effective regluation. In the six years leading up to 1929, the crash and subsequent depression, on average two banks failed every day. For the six year period ending in 1932, they failed at three or more each day.
The loss of deposits, an estimated 25%, was nothing in comparison to the loss of confidence in the banks of 100%.
