The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous.
Lucy Moore, Anything Goes: A Biography of the Roaring Twenties
1920s, banking, business, crash, economy, finance, politics, recession, regulation