Register
How did loan defaults during the Great Depression affect banks? Banks could not claim collateral from people borrowing money. Banks stayed open by selling property to raise money. Banks were unable to
232k views
16 votes
How did loan defaults during the Great Depression affect banks?

Banks could not claim collateral from people borrowing money.
Banks stayed open by selling property to raise money.
Banks were unable to collect money they had loaned to people.
Banks helped people keep their property by giving out more loans.

User Peter Hawkins
by
5.1k points

1 Answer

12 votes

Answer:

Banks were unable to collect money they had loaned to people.

User Gresolio
by
5.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.8m answers

Other Questions

The appellate court system in Georgia was established by what? A. state statute B. U.S. Statute C. Constitutional amendment D. the supreme court​
Which of the following is a content theory that proposes that people are motivated by physiological, safety, belongingness, esteem, and self-actualization needs? a. Contingency theory b. Process theory
Need immediate answer! Giving 5 stars and thanks if you're correct. Checking after test! "It's important to judge others by their merits, rather than their appearance." Which passage from the strangers
People who take a "marble cake" view of federalism believe thatstate governments are too weak to meet most citizen needsstate governments are supreme over the national governmentnational and state governments
A conventional mortgage loan is one that is not insured or guaranteed by an agency of the U.S. government. The lender, however, can still pursue a private mortgage insurance (PMI) policy to provide a guarantee
Link Copied!